With the launching of "Africans for Africa" initiative in 2024, a fund for it was officially unveiled in Abuja during the 4th African Natural Resources and Energy Investment Summit (AFNIS) 2025.
The fund aims to pool resources from Africans to invest in lucrative projects within the continent, fostering African ownership and parity with foreign exploration companies.
This was part of the communiqué issued at the end of the Summit, which was held between 15th and 17th July 2025.
It was themed "Harnessing Local Content for Sustainable Development,"
The summit had convened key stakeholders from African countries to address the critical need for Africa to leverage its vast natural resource wealth to drive industrial growth, equity, and sustainable development.
During the summit, Nigeria also official signed the Charter, and formally joined the Africa Minerals Strategy Group (AMSG) as a full member.
The communiqué reads "This step solidifies Nigeria's commitment to a unified African approach to mineral development, focusing on value addition, exploration, African capital mobilization, and critical mineral security across the continent.
"Mobilizing African Capital and Investment, the Africans for Africa Fund: A significant focus was placed on mobilizing domestic capital for African development.
"The "Africans for Africa" initiative was launched during AFNIS 2024 and in 2025 the fund was official unveiled, aiming to pool resources from Africans to invest in lucrative projects within the continent, fostering African ownership and parity with foreign exploration companies.
"Government reforms to improve the investment climate were also highlighted."
Towards leveraging Technology and Data for Sustainable Practices, the summit also recognized the transformative power of technology and data in resource exploration and management.
The summit discussions also dwelt on the delicate balance between mining and agriculture, and stressed the need for proper exploration, reclamation plans, integrated policies, and community involvement to ensure sustainable land use and avoid conflicts.
On Ethical and Sustainable Practices promotion, the summit emphasized he importance of radiological safety and compliance in the mining sector, protecting workers, the public, and the environment.
"The need for an ethical supply chain framework for critical minerals and the development of African Mineral Standards (e.g., Pan-African Resources Reporting Code - PARC) to ensure transparent and competent reporting were also key themes.
"The summit highlighted the significance of harnessing diplomacy for economic development and fostering strong international partnerships.
"Countries like Liberia and Kenya expressed their commitment to local content, looking to Nigeria as a model." the communiqué stated.
It went on "The importance of intra-African trade, cooperation, and financial mechanisms (e.g., Solid Minerals Development Fund, African Finance Corporation) was underscored to ensure Africa defines its own agenda for critical mineral development."
To empower Africa's Green Economy, the summit explored strategies for harnessing local resources, including renewables, minerals, and human capital, to drive sustainable growth in the green economy.
To this end, the Summit discussed
accelerating renewable energy adoption, closing the energy access gap, and fostering innovative partnerships and investments in the renewable energy value chain.
Also during the summit, the CEO/Ministerial Roundtable:
AFNIS 2025 reached its defining moment where African leaders and Industry Leaders engaged in candid dialogue on Africa’s mineral paradox: vast resources, yet limited value retention.
Delegates, during the summit, reviewed Africa’s current position as a major holder of global mineral reserves and discussed strategies for moving from raw extraction to value-added production.
The communiqué added "The Participants agreed on key steps which included establishing traceability systems, fostering joint industrial zones, developing cross-border infrastructure and formalizing artisanal mining under regional frameworks.
Notably, Key outcomes of the CEO/Ministerial roundtable included: Expansion of mineral testing infrastructure across member states; Proposal for joint industrial corridors and shared processing facilities; Commitment to operationalize AMSG working groups with a clear roadmap;
Others are Support for adapting Nigeria’s local content model across Africa; Backing for a pan-African financing mechanism to support mineral beneficiation.
"AFNIS 2025 served as a vital platform for African nations and the private sector to reinforce their commitment to inclusive, sustainable, and value-driven development of their natural resources and energy sectors, ensuring that the continent's immense wealth benefits its people." the communiqué stated
At the opening session of the summit, the Hon. Minister of Solid Minerals Development (Chief Hosts), Dr. Dele Alake, had delivered a keynote address that underscored Nigeria’s commitment to the policy shift.
The Minister highlighted reforms under the President Bola Tinubu Renewed Hope Agenda, which resulted in the growth in mining revenues through the attraction of over $800 million in critical minerals investments, positioning Nigeria as a hub for lithium processing and electric vehicle technologies.
In his welcome address, Engr. Faruk Yusuf Yabo, Permanent Secretary of the Ministry of Solid Minerals Development, enjoined delegates to become co-architects of Africa’s future by forging investment partnerships that add value through job creation and environmental stewardship.