Beginning from Tuesday July 16 to Thursday July 18, Nigeria will play host to government officials and private sector operators in Africa for the third summit on Africa’s natural resources and energy. The summit scheduled to hold at the Banquet Hall in the State House, Abuja, is partly a celebration of the stride that the administration of President Bola Tinubu is recording in the area of Solid minerals development. It is tagged African Natural Resources & Energy Investment Summit (AFNIS) 2024.
The minister of solid minerals development, Mr.Dele Alake, who announced it in Abuja said it is expected to bring
policymakers and private sector investors together towards harnessing the mineral wealth of Africa.
The formation of Africa Minerals Strategy Group, which is the brainchild of Nigeria, is expected to drive development by creating wealth from the natural resources, much of which had been left untapped for a long time and where explored were left in the hands of foreigners. Mr. Alake, who is also the chairman of the continental body, said the issues to be discussed at the forthcoming summit will include how the continent can use the mineral resources to drive development. This will be done by addressing the lapses in mineral exploration with a purpose to bringing reforms into the practice and also finding out processes for value addition.
The minister is confident that the summit will provide opportunity for a united front by the government, stakeholders in the natural resources, including industry experts across Africa for them to chart a way forward for the development of the continent through its endowed natural resources.
The minister: “This year’s summit, under the theme, “Natural Resources for Economic Development,’ underscores the significant role that Africa’s natural resources play in driving economic prosperity. Our focus will be on empowering marginalised communities and strategically utilising fossil fuel revenues to fund the transition to a greener future.
“AFNIS 2024 will set the pace for policy initiatives and regulatory frameworks that will enhance the sustainable exploitation of mineral resources and galvanise concerted action towards value addition—a major policy adopted by the AMSG.”
Mr. Alake wants Nigeria to use the summit as a means of promoting the country and her positive policies for development. He said to the media, in particular, “Let’s utilise the AFNIS summit to bolster Nigeria’s image and project us as Africa’s leading investment destination. The present administration is working diligently to improve the ease of doing business and address inherent challenges.”
Mary Ogbe, permanent secretary in the ministry corrorated the minister. She said the summit will provide a platform to discuss innovative avenues, development, energy transition for the African continent, and avenues for increased employment, property and stability across the mining and energy value chain.