The Federal Government of Nigeria has announced plans to introduce a new pan-African financing initiative, dubbed the “Africans for Africa Fund,” aimed at generating investment within the continent to drive the development of Africa’s mining and natural resources sectors.
The announcement was made on Tuesday in Abuja by the Minister of Solid Minerals Development, Dr Dele Alake, during a press briefing ahead of the 2025 African Natural Resources and Energy Investment Summit (AFNIS), which will take place from July 15 to 17 at the State House Conference Centre.
Represented by the Director-General of the Mining Cadastre Office, Obadiah Nkom, Dr Alake said the Fund seeks to mobilise African financial resources for African-led development, with an emphasis on industrialisation, value addition, and strategic investment throughout the solid minerals value chain.
He noted that the launch of the Fund would be one of the central highlights of the fourth edition of AFNIS, which has evolved into a leading platform for investment matchmaking, policy dialogue, and long-term collaboration across Africa’s extractive industries.
“This isn’t a slogan. It’s a shift in mindset. We are saying clearly: 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,” Alake said.
This year’s summit will be held under the theme “Harnessing Local Content for Sustainable Development,” a call to move away from the traditional model of exporting raw materials towards domestic processing, manufacturing, and job creation.
Alake explained that the theme advocates for building value at the source of the resources, rather than allowing other economies to benefit from Africa’s raw exports.
Reflecting on the evolution of the summit since its inception in 2022, the minister said the 2024 edition marked a major turning point with the debut of the “Africans for Africa” concept. That edition, he noted, attracted significant interest from governments, private investors, and development partners, and led to concrete investment commitments.
The upcoming 2025 summit will include a number of high-level events, such as a Ministerial and CEO Retreat, a Strategic Partnership Summit, and a Technical and Investment Forum addressing key topics including environmental, social, and governance (ESG) standards, critical minerals, and the integration of agriculture and mining.
“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.
Among the notable speakers confirmed for the event are Hon. Hassan Joho of Kenya, H.E. Julius Mattai of Sierra Leone, Ms Damilola Ogunbiyi, and ministers from Malawi, Liberia, Senegal, and South Sudan.
Dr Alake also stated that Nigeria will use the event to showcase its progress under President Bola Tinubu’s Renewed Hope Agenda, particularly reforms within the solid minerals sector, the launch of a national mineral data platform, and a renewed emphasis on community development agreements.
“This is our chance to send a clear message—that Africa is ready to take ownership of its resources and lead its future. We’re not just sitting on wealth anymore—we are prepared to build with it,” he concluded.