The Nigerian government is launching a new fund to help African countries invest in their own mining and natural resource sectors.
Called the ‘Africans for Africa’ Fund, the initiative is aimed at using African money to grow African industries, create jobs, and reduce reliance on foreign aid.
Minister of Solid Minerals Development, Dr. Dele Alake, made the announcement in Abuja on Tuesday ahead of the 2025 African Natural Resources and Energy Investment Summit (AFNIS), scheduled for July 15–17 at the State House Conference Centre. He was represented by the Director-General of the Mining Cadastre Office, Obadiah Nkom.
“This isn’t a slogan. It’s a shift in mindset,” Alake said. “The time has come for Africans to invest in Africa, to back our industries, innovations, and infrastructure with the resources we already have.”
The fund will officially be introduced at a major investment summit in Abuja this July. According to officials, the goal is to stop exporting raw materials and instead build factories, refine minerals locally, and add value within the continent.
Government leaders say it’s time for Africans to support African development using the resources they already have.
The upcoming summit will bring together policymakers, investors, and partners from across Africa to discuss long-term solutions and collaboration in mining, energy, and agriculture.
This move is part of President Bola Tinubu’s economic agenda to grow local industries and ensure that natural resources benefit communities, not just big companies.
