AFNIS Secures $600 million in Investments Over Four Years; Alake Calls to End Raw Mineral Exports

Minister of Solid Minerals Development, Dr. Dele Alake, called on African nations to shift from exporting raw minerals to adding value, industrialising, and fostering regional cooperation in order to maximise the continent’s natural resource benefits.

Alake made the appeal in Abuja during a press conference held ahead of the 5th African Natural Resources and Energy Investment Summit.

Represented by Martins Imonitie, Managing Director and Chief Executive Officer of Nigeria Solid Minerals Company, the minister stressed that Africa must use its mineral wealth to drive economic transformation, create jobs, and build long‑term prosperity.

He said, “Africa must move from being merely a source of raw materials production 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,” he added.

Alake noted that the summit, themed “One Africa, One Resource Vision,” comes at a critical time when global demand for critical minerals is rising, nations are reshaping supply chains, and the energy transition is opening new opportunities for resource‑rich countries.

The event will bring together government officials, investors, financiers, mining and energy companies, technology providers, geoscience experts, project developers, and policymakers from across Africa and beyond.

Countries expected to attend include the Democratic Republic of Congo, Kenya, Uganda, South Sudan, Somalia, Liberia, and Mauritania.

The minister said that AFNIS, which began five years ago as a dialogue platform for governments, investors and industry stakeholders, has evolved into one of Africa’s leading forums for discussions on mining, energy, industrialisation and sustainable development.

He explained that this year’s theme reflects the growing need for African countries to adopt a coordinated approach to issues such as critical minerals, energy infrastructure, regional value chains, project financing and technology transfer.

Earlier, Archibald Troko, Director of Strategy and Platform Development at Core International, revealed that AFNIS has attracted more than $600 million in investments over the past four years.

Troko said efforts are underway to bring in additional development partners and de‑risk investments in the mining and energy sectors, encouraging greater participation by local investors.

“We will continue to seek development partners to help de‑risk the sector so that local investors can also begin to take their share,” he said.