Bala Wunti urges local mineral processing to ensure energy security

Bala Wunti, CEO of the World Energy Council Nigeria, has urged the Nigerian government and global leaders to prioritize domestic mineral processing to ensure economic stability and energy security.

Speaking at the 2026 Concordia Annual Summit in New York, Wunti warned that exporting unprocessed critical minerals would repeat historical mistakes made with the crude oil industry. He noted that Nigeria has exported raw oil for decades only to import expensive refined products, a cycle that caused capital flight and economic vulnerability. He advised that Nigeria’s 44 identified critical mineral types, including lithium, nickel, and cobalt, must be integrated into local manufacturing value chains.

Wunti also addressed the global landscape, stating that the United States and its allies cannot achieve reliable electricity grids or artificial intelligence infrastructure while remaining dependent on a single country for mineral processing. He emphasized that while closing supply gaps is a national priority for the U.S., domestic production takes decades and international allies are essential to bridge the gap between policy goals and commercial reality.