In a strategic push to boost Africa’s control over its natural resource development, the Federal Government of Nigeria has announced plans to formally launch the “Africans for Africa Fund”, a continental financing initiative designed to mobilize domestic capital for mining and resource-based industrialisation.
The initiative will take center stage at the upcoming African Natural Resources and Energy Investment Summit (AFNIS), scheduled to hold from July 15 to 17 at the State House Conference Centre, Abuja.
The Minister of Solid Minerals Development, Dr. Dele Alake, made the announcement during a press briefing in Abuja on Tuesday, ahead of the summit. Represented by the Director-General of the Mining Cadastre Office, Obadiah Nkom, the minister described the fund as a bold call for Africans to take charge of the continent’s development agenda. “This isn’t a slogan. It’s a shift in mindset. The time has come for Africans to invest in Africa—to back our industries, our innovations, and our infrastructure with the resources we already have,” he said.
The 2025 summit will be held under the theme “Harnessing Local Content for Sustainable Development”, reflecting a deliberate move away from exporting raw materials to adding value within Africa’s borders. According to Alake, this new focus aims to drive industrialisation, create jobs, and reduce dependence on foreign processing. “We are done talking about potential. We are focused on production, on adding value, and ensuring that what we mine or produce leads to real, measurable improvements in our people’s lives,” he added.
First introduced during the 2024 edition of the summit, the “Africans for Africa” concept garnered strong interest from governments, investors, and development agencies across the continent. That edition, attended by Nigeria’s Vice President and over 1,000 stakeholders, served as a springboard for the fund, showcasing technology solutions and catalysing investment commitments in the extractive industries.
This year’s event is expected to be even more expansive, featuring a Ministerial and CEO Retreat, a Strategic Partnership Summit, and a Technical and Investment Forum. These sessions will explore critical issues such as environmental and social governance (ESG), the role of critical minerals in the global energy transition, and how sectors like agriculture and petrochemicals can align with mining for sustainable development. “We will explore how mining and agriculture, petrochemicals and energy, can be coordinated in a way that makes sense for long-term growth,” Alake said.
A number of high-profile participants have already confirmed attendance, including former Governor of Mombasa, Hon. Hassan Joho of Kenya; Director-General of Sierra Leone’s Minerals Agency, Julius Mattai; and the CEO of Sustainable Energy for All, Ms. Damilola Ogunbiyi. Ministers from countries including Malawi, Liberia, Senegal, and South Sudan are also expected to join the summit’s key discussions.
Nigeria will use the platform to highlight progress made under President Bola Tinubu’s Renewed Hope Agenda, particularly reforms in the solid minerals sector. These include the push for local mineral processing, community development agreements, and the rollout of a national mineral data platform. Calling for widespread participation, Alake said, “This is our moment to send a message: that Africa is serious about owning and leading its resource future. That we’re no longer content to sit on wealth, we are ready to build with it.”
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