In a move that has sent ripples across the continent, Guinea’s military junta, led by General Mamady Doumbouya, revoked over 50 mining permits from foreign companies, demanding instead that these multinationals build local refineries and process minerals within the country. For a nation that holds the world’s largest bauxite reserves—alongside diamonds, gold, and iron ore—this decision is more than an economic directive; it’s a declaration of sovereignty, dignity, and vision.
But beyond the borders of Guinea, this move should strike a familiar and urgent chord for Nigeria. As Africa’s most populous nation and one blessed with immense natural wealth—oil, gas, gold, tin, limestone, and more—Nigeria too has long wrestled with the paradox of poverty in the midst of plenty. The question now is: can Nigeria afford to ignore Guinea’s bold example?
Guinea’s Awakening: The Message Behind the Mining Permit Withdrawal
Since seizing power in 2021, Doumbouya’s junta has ruled Guinea with a mixture of military precision and nationalistic zeal. The latest decree, stripping foreign firms of mining licenses, is part of a broader vision: Africa must rise to reclaim and process its resources, not just export them raw.
Foreign firms have until the end of May 2025 to present concrete plans to establish processing facilities inside Guinea. Those who fail will lose access to the country’s estimated 27 billion metric tons of bauxite, 40 million carats of diamonds, and vast deposits of iron ore, graphite, and gold. For Doumbouya, it’s not just about revenue—it’s about rethinking development and rewriting Africa’s story.
Nigeria’s Extractive Industry: Still Trapped in a Colonial Echo Chamber
Now, let’s bring it home. Nigeria, Africa’s largest oil producer, still exports crude petroleum and imports refined products. Despite having four refineries—none of which function optimally—we continue to rely on foreign processors while grappling with fuel scarcity, subsidy crises, and unemployment. The solid minerals sector, once vibrant, remains underexploited or dominated by informal and foreign operators.
Gold from Zamfara, columbite from Nasarawa, limestone from Benue, and coal from Enugu often leave our shores unprocessed. Foreign companies and even illegal miners extract wealth, while host communities are left to cope with environmental degradation, insecurity, and poverty.
What Guinea has done is what Nigeria talked about for years but never acted on: resource nationalism backed by policy enforcement. If a smaller country like Guinea can challenge multinationals and assert its economic will, what excuse does Nigeria have?
Africa Awake: A Movement or a Moment?
Doumbouya’s move has sparked continental reactions—some supportive, others alarmed. Former French Minister Thierry Breton’s outburst that Africa is “awakening” and must be stopped, is proof that the West sees the trend as a threat. “If France loses its colonies,” Breton warned, “our children and grandchildren will go to Africa in search of livelihoods.”
Indeed, Mali, Niger, and Burkina Faso have all taken similar steps—cutting ties with former colonial powers, reassessing international agreements, and expelling foreign troops and NGOs perceived as exploitative. Guinea’s new policy fits squarely within this movement—a continental reawakening fueled by economic justice and cultural pride.
For Nigeria, this is a pivotal moment. As a democratic nation with more economic leverage than Guinea, do we join the “Africa Awake” vision or continue to sell our future for quick foreign exchange?
What Nigeria Must Do: From Policy to Action
1. Enforce Local Processing Mandates: It’s not enough to include “local content” clauses in mining and oil laws. Nigeria must demand the construction of refineries, processing plants, and industrial hubs by investors as a precondition for license renewal.
2. End Crude Oil Dependency: With the Dangote Refinery and other modular projects coming onstream, Nigeria must expedite full deregulation and domestic refining to break the import-export cycle.
3. Formalize and Monitor Mining Operations: Artisanal mining must be brought under a legal framework to prevent exploitation by foreign entities and ensure local benefit.
4. Invest in Value Chains: Nigeria should move beyond raw exportation to manufacture aluminum from bauxite, jewelry from gold, and batteries from lithium. This will create jobs, boost exports, and stimulate technology transfer.
5. Secure Host Communities: Resource-producing regions must benefit from infrastructure, education, and healthcare, not be militarized or neglected.
Conclusion: Guinea Has Dared, Will Nigeria Follow?
Guinea’s military regime may be controversial, but its mining policy shift is a masterstroke of courage. In a world where Africa has been largely relegated to the role of raw material supplier, Guinea is asking a simple but powerful question: Why must we remain poor while sitting on riches?
Nigeria must now answer a more personal question: When will we stop being a giant with feet of clay?
If Guinea, with all its political instability and economic challenges, can stand up to foreign interests in defense of its future, then Nigeria has no excuse. Our destiny lies not in the goodwill of foreign investors or international donors, but in our willingness to act boldly and decisively—just as Guinea has done.
Nzubechukwu Eze
