By Stella Odueme
President Bola Ahmed Tinubu has called on African nations to harness the continent’s vast natural resources for industrialisation, economic prosperity, and sustainable development.
Speaking at the opening of the 5th African Natural Resources and Energy Investment Summit (AFNIS 2026) held at the State House Conference Centre, Abuja, on Wednesday, President Tinubu who spoke through the
Minister of Solid Minerals Development, Dr. Henry Oladele Alake, said Africa must move beyond being merely a supplier of raw materials and become a global hub for value addition, manufacturing, and energy production.
Addressing participants from across Africa and beyond, the President described the summit’s theme, “One Africa, One Resource Vision,” as a powerful declaration of the continent’s determination to chart a common path towards economic transformation and self-reliance.
He noted that Africa’s abundant deposits of oil, gas, lithium, cobalt, gold, copper, iron ore, and other strategic minerals have positioned the continent at the centre of the global energy transition and emerging supply chains.
“The question before us today is whether Africa will finally turn its wealth into power—power for our homes, industries, young people, economies, and rightful place in the world,” Tinubu said.
The President stressed that Africa must no longer export its resources in raw form while other regions reap the benefits of processing and manufacturing.
“For too long, Africa has exported the future in unfinished form. The time has come for us to process, manufacture, power our factories, train our engineers, and build our own value chains,” he stated.
Tinubu said Nigeria’s economic reforms under the Renewed Hope Agenda align with the broader continental vision of diversification, industrial growth, infrastructure expansion, energy access, and job creation.
According to him, Nigeria recognizes that its prosperity is closely linked to the prosperity of the African continent, emphasizing the need for stronger regional cooperation in trade, energy, transportation, and investment.
The President advocated greater integration among African countries, suggesting that mineral resources extracted in one nation should support processing industries in another, while energy projects should serve regional markets across borders.
“A mine in one African country should feed a refinery in another. A gas field in one region should power factories across borders. A solar corridor within a single nation should support a continental grid,” he said.
President Tinubu also urged African governments to implement policies that encourage investment, harmonize regulations, reduce barriers to intra-African trade, and strengthen transparency and accountability in resource management.
Addressing international investors, he said Africa remains open to business but seeks partnerships that promote local development rather than simple resource extraction.
“We welcome capital that builds, creates jobs, transfers technology, strengthens local capacity, protects communities, and respects the environment,” he said.
The President emphasized that the future would belong not to those who extract the most resources, but to those who create the most value from them.
On energy, Tinubu described access to reliable power as central to Africa’s industrialisation ambitions, noting that millions of Africans still lack electricity while businesses, hospitals, schools, and farmers require stable energy supplies to thrive.
He called for a practical and balanced energy transition that addresses climate concerns without compromising Africa’s development aspirations.
“A just transition must not force Africa to choose between climate responsibility and human dignity. It must deliver both,” he said.
Tinubu reaffirmed Nigeria’s commitment to expanding energy access through responsible utilization of gas resources, increased renewable energy deployment, and investment in modern power infrastructure.
Expressing confidence in Africa’s future, the President said the continent possesses the youthful population, entrepreneurial talent, and natural endowments needed to drive a new era of growth and prosperity.
“Africa is not waiting to be discovered. Africa is defining itself. We know our worth, our responsibility, and our destination,” he declared.
He urged participants to ensure that agreements reached during the summit translate into concrete projects, industries, jobs, and economic opportunities for Africans.
President Tinubu subsequently declared the 5th African Natural Resources and Energy Investment Summit (AFNIS 2026) officially open, expressing optimism that the gathering would strengthen continental cooperation and accelerate Africa’s economic transformation.
“Let the agreements reached here become projects. Let the projects become industries. Let the industries create jobs, and let those jobs create dignity. Let that dignity become the foundation of a new African century,” he said.
On his part, the Minister of Solid Minerals Development, Dr. Henry Oladele Alake, urged African countries to work together to ensure the continent derives greater value from its mineral resources through local processing, refining, manufacturing, technology transfer, and skills development.
Alake said Africa must move beyond exporting raw materials and focus on building integrated value chains supported by energy, infrastructure, financing, and regional cooperation.
The minister assured investors that Nigeria remains open to responsible and long-term investments that promote local employment, technology transfer, community development, and sustainable growth.
He emphasized the need for innovative financing and improved infrastructure, noting that railways, roads, ports, power, and processing facilities are critical to unlocking Africa’s mineral potential.
Alake also highlighted the importance of equipping African youths with the skills needed to participate in the emerging resource economy, including careers in mining, engineering, technology, logistics, finance, and environmental management.
He called on stakeholders to translate discussions at the summit into tangible projects, investments, industries, and jobs, stressing that Africa has the resources, talent, and leadership needed to drive industrialization and economic transformation.
According to him, AFNIS 2026 represents a turning point in Africa’s resource development journey and an opportunity to build a continent that creates value, powers industries, and delivers prosperity for its people.
The Minister of Steel Development, Prince Shuaibu Abubakar Audu, highlighted major reforms and investment opportunities in Nigeria’s steel sector, describing steel as a critical driver of industrialisation and economic growth.
Speaking at the 5th African Natural Resources and Energy Investment Summit (AFNIS 2026) in Abuja, Audu said the Federal Government is implementing strategic measures to revive key steel assets, attract investments, and strengthen the mining-to-metals value chain.
He disclosed that the government is advancing efforts to revive the Ajaokuta Steel Company, National Iron Ore Mining Company (NIOMCO), and the Aluminium Smelter Company of Nigeria (ALSCON), while also supporting new investments in the sector.
According to the minister, Nigeria has secured major investment commitments, including a $400 million steel plant project in Ogun State and a proposed $1 billion investment by India’s Rashmi Metaliks in mining and steel production.
Audu noted that the government is creating an enabling environment through fiscal incentives, policy reforms, and infrastructure development to position Nigeria as a leading steel production hub in Africa.
He urged local and foreign investors to take advantage of opportunities in iron ore mining, steel production, industrial parks, and manufacturing, stressing that regional collaboration under the African Continental Free Trade Area (AfCFTA) would accelerate Africa’s industrial transformation.
Chairman of the Senate Committee on Solid Minerals Development, Senator Ekong Sampson, emphasized the need for Africa to transform its vast mineral endowment into tangible economic benefits, noting that the continent must shift from merely possessing resources to maximizing their productive value for sustainable development and improved living standards.
Also speaking, Chairman of the House Committee on Solid Minerals, Hon. Jonathan Gaza, lauded recent reforms in Nigeria’s mining sector, describing them as critical steps toward unlocking the industry’s full potential.
He reaffirmed the National Assembly’s commitment to supporting legislation and policies that encourage exploration, attract investment, boost revenue generation, and strengthen the solid minerals sector as a key pillar of economic diversification.
Participants at the summit unanimously called for deeper collaboration among governments, investors, development partners, and industry players to harness Africa’s mineral and energy resources for industrial growth, regional integration, and inclusive prosperity.
The three-day summit attracted delegates from more than 15 African countries, underscoring growing continental commitment to advancing resource-driven development and economic transformation.
