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Africa’s Wealth Lies in Resource Transformation — Alake

by admin on | 2026-06-18 13:50:56

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Africa’s Wealth Lies in Resource Transformation — Alake

By Ahmad Sirajo Makama, Abuja

The Minister of Solid Minerals Development, Dele Alake, said Africa’s future prosperity will not be determined by how rich it is in natural resources, but by how well those resources are harnessed. 

He emphasised that true progress lies in turning mineral wealth into productive sectors that create jobs, drive industrialisation, and support sustainable economic growth.

Ahead of the 5th African Natural Resources and Energy Investment Summit (AFNIS) 2026, scheduled for June 23–25 at the State House Conference Centre, Abuja, Alake said African nations must move beyond exporting raw materials and embrace value addition, industrialisation and regional cooperation.

Represented by the Managing Director and Chief Executive Officer of the Nigeria Solid Minerals Company, Martins Imonite, the minister said: “History will not judge Africa by the resources beneath its soil. History will judge us by what we choose to do with those resources.”

He described this year’s summit, themed “One Africa, One Resource Vision,” as timely, given the rising global demand for critical minerals and emerging opportunities created by the global energy transition.

According to Alake, AFNIS 2026 will focus on practical implementation rather than discussions alone, bringing together ministers, investors, development finance institutions, project developers and industry leaders to unlock investments and accelerate resource-based development across Africa.

He said discussions will cover critical mineral development, infrastructure financing, regional industrial corridors, responsible sourcing, energy integration, sovereign participation in strategic projects and innovative financing mechanisms.

The minister added that government officials and ministers from several African countries, including the Democratic Republic of the Congo, Kenya, Uganda, South Sudan, Somalia, Liberia and Mauritania, are expected to participate.

Also speaking, the Director of Investment Promotion and Mineral Trade Services,  Esther Nkechi Udo, representing the Permanent Secretary, Dr. Faruk Yabo, described AFNIS as a leading platform for driving investment, innovation and collaboration in Africa’s mining and energy sectors.

She urged journalists to help tell Africa’s resource story accurately, noting that the media remains critical in bridging the gap between government policies and citizens.

Representing the organisers, AFNIS Director of Strategy and Platform Core International, Archibald Troko, disclosed that over $600 million in deals have been secured through the summit’s first four editions.

Troko said this year’s event will focus on strengthening regional cooperation, local value addition, industrialisation and integrated value chains, adding that more than 20 per cent of Africa’s mining and natural resources ministers have already confirmed participation.