<\/p>\n
By Tiamiyu \u200c\u200c\u200d\u2060\u2060\u200d\u2060\u2060\u200d\u200c\u200d\u200d\u2060\u200c\u200d\u200cPrudence Arobani<\/p>\n
The United Nations says Africa produces most of the world\u2019s cobalt but retains less than one per cent of the value generated across global green-energy supply chains.<\/p>\n
UN Trade and Development disclosed this on Friday in its flagship Trade and Development Report 2026, released in Geneva.<\/p>\n
The report, titled The Geoeconomics of Development, examines how geopolitical competition, technological advances and changing trade policies are reshaping economic opportunities.<\/p>\n
It found that developing countries remained major suppliers of critical minerals required for electric vehicles, batteries, renewable energy and other strategic technologies.<\/p>\n
However, the UN warned that the greatest financial benefits were increasingly concentrated in countries controlling processing, manufacturing and advanced industrial technologies.<\/p>\n
According to UNCTAD, developing economies account for 60 per cent of new foreign direct investment in critical minerals and strategic materials.<\/p>\n
In contrast, developed economies capture approximately 70 per cent of announced greenfield investment value in high-value strategic industries.<\/p>\n
These include semiconductors, artificial intelligence infrastructure and technologies supporting the global energy transition.<\/p>\n
The report identified Africa\u2019s cobalt industry as an example of the imbalance between natural-resource production and participation in higher-value industrial activities.<\/p>\n
It warned that resource abundance alone was insufficient to guarantee economic transformation or industrial competitiveness.<\/p>\n
UNCTAD said developing countries must strengthen domestic processing, technological capabilities, infrastructure and industrial policies to retain more economic value.<\/p>\n
The agency also advocated stronger connections between foreign investors and local suppliers to support manufacturing, employment and technology transfer.<\/p>\n
It said international economic relationships were increasingly influenced by geopolitical interests and national security considerations.<\/p>\n
Consequently, countries seeking industrial transformation faced greater difficulties entering sectors dominated by established global manufacturers.<\/p>\n
The findings have implications for Nigeria\u2019s efforts to expand its solid-minerals industry and attract foreign investment into processing and manufacturing.<\/p>\n
Nigeria has identified critical minerals as an important component of its economic diversification and industrial development agenda.<\/p>\n
UNCTAD stressed that developing countries must move beyond raw-material exports and strengthen their participation in regional and global value chains.<\/p>\n
It also called for greater international cooperation to ensure that emerging technologies and the global energy transition produce more equitable development opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"
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