Africa Must Not Repeat Mistake with Lithium, Warns Bala Wunti

Africa must not repeat the mistake of exporting raw materials and importing refined products, warns Bala Wunti, CEO of World Energy Council Nigeria.

Speaking at the 2026 Concordia Annual Summit in New York, Wunti cautioned African governments against allowing the continent's critical minerals to be exported permanently in their raw form.

'Exporting crude oil and importing refined petroleum products created poverty, not prosperity,' he said. 'That model must not be repeated with lithium, cobalt, and rare earth elements.'

Africa has an opportunity to build processing capacity, attract investment, and create employment through local value addition.