Nigeria to Launch ‘Africans for Africa Fund’ at AFNIS 2025

Folalumi Alaran in Abuja

The federal government has disclosed plans to formally launch the “Africans for Africa Fund” at the forthcoming African Natural Resources and Energy Investment Summit (AFNIS) scheduled to hold from July 15 to 17, 2025, in Abuja.

The Minister of Solid Minerals Development, Dr. Dele Alake, who made the disclosure during a media briefing in Abuja, said the fund is designed to mobilise African capital for investment in mining, energy, infrastructure, and industrialisation projects across the continent.

He described the initiative as a shift from foreign dependence to intra-African financing, with the goal of enhancing ownership and control of the continent’s natural resources.

“This is not a slogan. It is a mindset shift. Africa must invest in Africa, we are done outsourcing our growth. The time has come to back our industries, innovations, and infrastructure with the resources we already have,” he said.

The fund is expected to serve as a key feature of the fourth edition of AFNIS, which will be held at the State House Conference Centre and is being organised by the Ministry of Solid Minerals Development in collaboration with strategic public and private sector partners.

This year’s summit, themed: ‘Harnessing Local Content for Sustainable Development’, will focus on industrialisation, value addition, energy transition, and cross-sector integration within the continent’s extractive and energy sectors.

Alake explained that the summit has evolved since its inception in 2022, from a national platform known as the Nigeria-Africa Natural Resources and Energy Investment Summit (NAFNIS), into a continental forum for policy engagement and investment mobilisation. He said the 2024 edition, which recorded over 1,000 participants, set the tone for continental collaboration through the launch of the Africans for Africa initiative.

The minister stated that the 2025 edition will move from policy articulation to implementation, with a focus on actionable outcomes and bankable projects.

“AFNIS is no longer just a conversation space. It is a deal-making, solution-driving platform where real partnerships are formed and real capital is mobilised,” he added.

He said Nigeria would use the summit to showcase progress under President Bola Tinubu’s Renewed Hope Agenda, particularly in the solid minerals sector. He cited the ongoing rollout of the National Mineral Resource Data and Statistics System (NMRDSS), improved enforcement of Community Development Agreements (CDAs), and government-backed efforts to support local mineral processing.

According to him: “We are laying the groundwork for a mining sector that works not just for investors, but also for host communities and the broader Nigerian economy.”

The summit is expected to draw participation from senior government officials, industry executives, development partners, and academics from across Africa. Confirmed speakers include Hon. Hassan Joho of Kenya, Sierra Leone’s Minister of Mines, Julius Mattai, CEO of Sustainable Energy for All, Damilola Ogunbiyi, and Professor Olugbenga Okunlola, among others.

Alake, who also chairs the Africa Minerals Strategy Group, will lead discussions on regional cooperation and cross-sector strategies for sustainable growth.

He said this year’s summit will feature a ministerial and CEO retreat, a strategic partnership summit, and a technical forum that will address issues related to critical minerals, ESG compliance, and integrated industrial development.

The minister also called for a coordinated policy approach across African governments, noting that mineral-rich countries must prioritise local beneficiation, regional value chains, and investment-friendly regulatory environments.

 “We want real capital, not speculative interest, the minerals we export in their raw form return to us as finished goods at ten times the price. This must change,” he said.

He urged the media to play its part in holding stakeholders accountable, stating that “the success of AFNIS depends not only on the quality of participation but also on how the public engages with the issues raised.”

He commended the organising committee led by the Ministry’s Investment Promotion and Mineral Trade Department, with support from Core International, and acknowledged the contributions of key partners such as Segilola Resources, the Nigerian Content Development and Monitoring Board (NCDMB), Anfani, Skylab, and SF Protective.

 “With logistics concluded and high-level participation confirmed, AFNIS 2025 is positioned to serve as a major platform for Africa’s resource-based transformation, Africa is no longer content to sit on wealth—we are ready to build with it,” he concluded.