FG To Launch Africans For Africa Fund Initiative

The Federal Government has announced plans to launch the “Africans for Africa” Fund, a bold initiative aimed at mobilising African resources to address African priorities.

Minister of Solid Minerals Development, Dr. Oladele Alake stated this while briefing newsmen ahead of the 4th Africa Natural Resources And Energy Investment Summit holding at the Presidential Villa in Abuja.

Dr. Alake who was represented by the Director General of the Nigeria Mining Cadastral Office, Simon Obadiah Nkom explained that “Africans for Africa” Fund isn’t a slogan but a shift in mindset indicating that the time has come for Africans to invest in Africa to back the continent’s industries, innovations, and infrastructure with the resources already generated.

The Minister emphasized that this year’s theme encourages a serious rethink about how Africa can shift from exporting raw materials and build factories, refine minerals, generate power locally, create jobs at home as well as building value where the resources come from.

According to him, the event will stage a Strategic Partnership Summit where deals will be made and policies unveiled as well as a Technical and Investment Forum that brings experts and innovators together on key topics like ESG, critical minerals, and agriculture-mining linkages.

“Some of the key areas we’ll be focusing on include Local Industrialisation, how to turn our abundant raw materials into processed products; batteries, solar components, fertilizers, and metals. Energy Transition, How to take advantage of our renewables and gas to create energy solutions that actually work for African communities solutions that are clean, reliable, and affordable”.

“We’ll explore how mining and agriculture, petrochemicals and energy, can be coordinated in a way that makes sense for long-term growth.

According to Dr. Alake, the time has come for Africans to invest in Africa, noting that the summit will afford Nigeria the opportunity to showcase progress under the Renewed Hope Agenda.

‘We’ll present updates on our reforms in the solid minerals sector local processing efforts, renewed commitment to community development agreements, the rollout of our mineral data platform (NMRDSS), and new steps we’re taking to attract responsible investment and ensure that mining benefits all stakeholders.

Georgina Humphrey, Edited By Grace Namiji