Nigeria to host summit on Africa’s mineral resources for economic growth

The Minister of Solid Minerals Development, Dr. Dele Alake, has highlighted the upcoming African Natural Resources & Energy Investment Summit (AFNIS) 2024 as a crucial event for leveraging Africa’s mineral wealth to promote sustainable economic development.

In a press briefing on Thursday, Dr. Alake emphasized the importance of the summit, which will be hosted by Nigeria from July 16. He noted that it will serve as a key platform for government officials, private sector stakeholders, and industry experts from across the continent to come together.

According to the Minister, the primary aim of the summit is to build consensus on strategies to drive economic growth, achieve Sustainable Development Goals (SDGs), and foster the development of cleaner energy sources.

“This year’s summit, themed ‘Natural Resources for Economic Development,’ highlights the critical role of Africa’s natural resources in driving economic prosperity.

“Our focus will be on empowering marginalized communities and strategically using fossil fuel revenues to fund the transition to a greener Africa,” Dr. Alake stated.

Organized in partnership with Core International Mining Company, the summit will gather African Ministers of Solid Minerals/Mineral Resources. This marks the first time Nigeria is hosting the summit since Dr. Alake became the pioneer chairman of the African Minerals Strategy Group (AMSG).

Dr. Alake pointed out that “AFNIS 2024 will lay the groundwork for policy initiatives and regulatory frameworks to enhance the sustainable exploitation of mineral resources and promote value addition—a major policy adopted by the AMSG.”

He also called on the media to provide extensive coverage of the event, stressing the need to project Nigeria as a favorable investment destination. He urged journalists to help change the negative perception of the country.

“Let’s use the AFNIS summit to boost Nigeria’s image and position us as Africa’s leading investment destination. The current administration is working hard to improve the ease of doing business and address inherent challenges,” the Minister said.

Core International’s CEO, Suleiman Zakari, added that this year’s summit would feature bilateral meetings focusing on value addition to ensure the continent gains maximum benefit from its vast mineral resources.

The AFNIS 2024 summit is set to take place from July 16 to 18, 2024, at the State House Conference Centre, Presidential Villa, Abuja.