.as AFNIS attracts over N$600m investments in 4 years

By Gabriel Ewepu

ABUJA – AS export of raw solid minerals continue, the Minister of Solid Minerals Development, Dr Dele Alake, Wednesday, charged African countries not to remain sources for raw materials.

Alake who was represented by the Managing Director and Chief Executive Officer, Nigeria Solid Minerals Company, Martins Imonitie stated this at a press conference in preparation of the upcoming 5th edition of the 2026 African Natural Resources and Energy Investment Summit, AFNIS, with the theme ‘One Africa, One Resource Vision’ in Abuja.

He said the Summit is crucial, because there is a paradigm shift this time around as government will meet with high-level players from both the public and private sectors including investors, financiers, mining companies, energy companies, technology providers, geoscience experts, project developers and policy makers project developers and technical experts beyond Africa.

Countries to be in attendance include including the Democratic Republic of Congo, Kenya, Uganda, South Sudan, Somalia, Liberia and Mauritania, among others, who represent some of Africa’s most important mining and energy jurisdictions.

He said: “AFNIS, coming up from 23rd to 25th June 2026 at the State House Conference Centre, Abuja, it is important that we provide clarity on what this summit represents, what it seeks to achieve, and why it matters not just for Nigeria, but for the African continent as a whole.

“This year’s Summit is particularly significant because it marks a major milestone in the evolution of what has become one of Africa’s foremost platforms for dialogue, partnership and investment in the natural resources and energy sectors.

“Five years ago, AFNIS began as an ambitious idea to create a platform where African governments, investors, development institutions and industry leaders could come together to discuss the future of the continent’s vast natural resource endowment.

“Today, that vision has grown into a respected continental platform that continues to shape conversations around mining, energy, industrialisation, investment and sustainable development across Africa.

“The significance of AFNIS 2026 extends far beyond the celebration of its fifth edition. It comes at a crucial moment in Africa’s history where the demand for critical minerals is accelerating. Nations are repositioning themselves to secure supply chains. Global capital is seeking stable and bankable destinations.

“New technologies are transforming industries at unprecedented speed, while the global energy transition is creating enormous opportunities for resource-rich countries.

“Africa must move to from being merely a source of raw materials to becoming a centre of value creation, industrialisation and shared prosperity.

“Our resources must become catalysts for economic transformation, job creation, technological advancement, infrastructure development and long-term wealth creation for African people.

“It is for this reason that the theme: “One Africa, One Resource Vision” was adopted to reflect the growing recognition that the challenges and opportunities confronting Africa’s resource sector can no longer be addressed through isolated national approaches.

“Whether we are discussing critical minerals, energy infrastructure, regional value chains, industrial corridors, responsible sourcing, project financing or technology transfer, the future lies in greater collaboration among African nations.”

Earlier, the head of delegation of IMine, Achilbald Troko, in his remarks disclosed that for the AFNIS has “attracted $600 million over the last four years.”

Meanwhile, the Managing Director and Chief Executive Officer Nigeria Solid Minerals Company, Martins Imonitie also made it known that under President Bola Tinubu’s administration, in three years mining investment amounted to $3 billion, which goes across gold and rare earths, describing it as “unprecedented in the history of this country.”

He also assured that, “We will continue to seek our development partners to help, partners with us to try and de-risk the sector so that local investors can also begin to take their share.”

However, he said efforts are being made to reduce the initial cost of exploration for indigenous mining companies in order to remain competitive.