AFNIS24: We Will Harness Natural Resources To Provide Clean Energy For Nigerians – Tinubu
By Kelvin Alohan
President Bola Tinubu has said that his administration is unwavering in its commitment to harnessing the power of natural resources to provide clean, accessible and reliable energy for Nigerians.
The President stated this at the 3rd edition of the African Natural Resources & Energy Investment Summit 2024 (AFNIS24) on Wednesday at the State House conference centre, Abuja.
Extractive360 reports that this year’s AFNIS is under the theme: “Natural Resources For Economic Growth.”
Tinubu, who was represented by Vice President Kashim Shettima, said that this year’s theme emphasizes that a shift towards sustainable energy sources does not compromise economic growth.
The President said: “This year’s theme stands at the forefront of advocating for leveraging Africa’s natural wealth to foster inclusive economic growth. It emphasizes that a shift towards sustainable energy sources does not compromise economic growth, social stability, or job creation.
“Africa holds vast potential in the sphere of local value addition. It is not merely about extracting minerals; it is about processing and refining them, thereby adding significant value. This approach can bolster our economies and offer livelihoods to our burgeoning population.
President Bola Tinubu’s Address being delivered by Vice President Kashim Shettima
“The deliberations during these days will culminate in findings that can shape policies and regulations that can attract investment, ignite entrepreneurship and channel the creativity of local businesses. We intend to elevate Nigeria’s critical mineral resource wealth from potential to reality, creating a prosperous, resilient and environmentally conscious future.”
The president who maintained that we are fully aware of the challenges that Africa faces in the realm of power, added that “Millions of Nigerians live without access to electricity, and this energy divide perpetuates poverty, inequality, and limits our economic potential. But within these challenges lies the opportunity for transformation.”
Tinubu further stated that his government is unwavering in its commitment to harnessing the power of natural resources to provide clean, accessible, and reliable energy for Nigerians.
Vice President Kashim Shettima (second from left) and other dignitaries during the Summit
“We have earlier in the year removed power subsidies that will allow increased investments in power infrastructure. We recognize that achieving this vision requires sacrifice and close collaboration between the government, and the private sector.
“This administration wants to make Nigeria a leader in critical metals and I welcome the establishment of the African Minerals Strategy Group with our Minister the first chairman of this initiative. We aim to set new standards in the mining industry, and to make sure that Africa gets an equitable slice in supplying the world of critical metals.”
He noted that in our transition to cleaner and more sustainable energy systems, the government recognize the pivotal role that natural gas plays as a transition fuel that will aid in the fundamental restructuring of the economy.
Earlier in his welcome address, the Minister of Solid Minerals Development, Oladele Alake, said that AFNIS 2024 provides a unique opportunity to forge partnerships and attract investments that will drive the development of Africa’s Natural Resources.
Minister of Solid Minerals Development, Oladele Alake
The Minister highlighted Nigeria’s leadership role in the newly established Africa Minerals Strategy Group, adding that the initiative will drive economic growth, promote sustainable practices, and foster international collaboration in the Mining Sector.
Alake said: “We are committed to transforming Nigeria’s Solid Minerals Sector into a cornerstone of our Nation’s Economic Diversification Strategy. Our approach is multifaceted, focusing on policy reforms, sustainable practices, infrastructure development, and human capital enhancement,” adding that government is currently implementing comprehensive reforms that will create a conducive environment for investment in the minerals Sector.
Minister of Solid Minerals Development, Oladele Alake giving his remarks during the Summit
“As the first chairman of the newly established Africa Minerals Strategy Group, I am dedicated to setting new standards in the mining industry and ensuring that Africa secures an equitable share in supplying the world with critical minerals. This initiative will drive economic growth, promote sustainable practices, and foster international collaboration in the Mining Sector,” he said
He noted that the imperative of extending the benefits of natural resource development to local communities is paramount, assuring that government is committed to ensuring that mining activities serve as catalysts for local economic growth and enhance the quality of life for citizens.
Governor of Akwa Ibom State, Pastor Umo Eno, in his goodwill message said that the summit was timely in view of the various opportunities embedded in our natural resources and energy sectors.
Governor Eno, who was represented by his Commissioner for Environment and Mineral Resources (Petroleum and Solid Minerals), Mr. Uno Etim Uno, added that Africa hosts about 30% of the earth’s mineral resources and ranks among the top in the quantity of world reserves of platinum, chromite, diamond, bauxite, cobalt, manganese, zirconium and phosphate.
Group photo of dignitaries during the Summit
“It is estimated that Africa is the repository of about 75% of the planet’s total resources that remain to be discovered in the near future,” the Governor said.
Also speaking, Governor of Zamfara State, Dauda Lawal, stated that the summit underscores the importance of collaboration, innovation and strategic investment in driving economic growth and improving the quality of life for citizens.
He stressed that the mission of stakeholders at the summit should be on how to harness these resources responsibly and sustainably as well as ensure that they benefit all Africans.
Extractive360 reports that the African Natural Resources and Energy Investment Summit (AFNIS) is an industry platform that provides the avenue for relevant stakeholders to converge annually with the strategic goal of cross-sectorial development of Africa’s natural resources.
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