Stakeholders at the 5th African Natural Resources and Energy Investment Summit (AFNIS 2026) have called for the translation of discussions and agreements into measurable projects, as the two-day summit concluded with the signing of major partnerships aimed at advancing Africa's mining and resource development agenda on Thursday on Abuja.
Delivering closing remarks at the summit, Nigeria's Minister of Solid Minerals Development, Dr. Dele Alake, commended participants from across the continent for their commitment to transforming Africa's natural resources into engines of economic growth and industrialisation.
"Everywhere I go in Africa for these mining events, the enthusiasm has been real, the zeal has been ideal, and the results have been showing," Alake said.
The minister described the various agreements signed during the summit as evidence that AFNIS has evolved beyond a platform for discussions into a forum that delivers concrete outcomes.
"The signing ceremonies that we had here are eloquent testimonies to stated objectives and achievement of goals. These AFNIS events have not just been talking shops; they have actually been platforms and avenues of results," he stated.
Alake urged stakeholders to ensure that ideas and commitments made during the summit are implemented, stressing that future success would be measured by tangible achievements rather than speeches and declarations.
"We don't want everything to end here—not just in speeches, addresses, remarks and photographs. We need actualities," he said, drawing from his journalism background to emphasise the need for visible evidence of progress.
One of the major highlights of the summit was the signing of a Memorandum of Understanding (MoU) between the Africans for Africa (AFA) Initiative and Steron International Resources Limited to support the development of lithium and rare earth minerals in Nigeria.
Under the agreement, Steron's Lithium and Rare Earth Elements (REE) project in Wasa has been designated as a potential "Official AFA Mining Fund I Pipeline Project," positioning it to receive technical support and investment assistance to improve project bankability and compliance with global sustainable mining standards.
A key feature of the partnership is the adoption of AFA's 51 per cent Total African Benefit (TAB) Model, designed to ensure that the majority of economic value generated from the project remains within Africa through local processing, domestic supply chains and community investments.
Speaking during the signing ceremony, AFA Co-founder, Suleiman Zakari, said the initiative reflects a broader commitment to ensuring Africa derives greater value from its mineral resources.
"The institutionalisation of the AFA Mining Fund is a significant step toward supporting critical mineral projects capable of driving industrialisation and sustainable development across Africa," Zakari said.
Managing Director and Chief Executive Officer of Steron International Resources Limited, Abubakar Sadiq, described the agreement as proof that Nigerian mining projects can meet international environmental, social and governance (ESG) standards while creating meaningful economic opportunities for local communities.
Also speaking at the summit, Nasarawa State Governor Abdullahi Sule highlighted the state's responsible mining framework, which he said balances the interests of investors, government and host communities.
According to the governor, Nasarawa has established a legally backed Infrastructure Fund financed with five per cent of the state's Internally Generated Revenue (IGR) to support investments in strategic sectors such as mining and agriculture.
"Responsible mining ensures fair returns for investors, protects government revenues and safeguards the interests of host communities," Sule said.
He explained that the fund provides critical infrastructure, including roads, electricity and security, to attract investment and support business operations.
Governor Sule described AFNIS as an important platform for building partnerships and promoting sustainable resource development across Africa. He urged investors, development finance institutions and technology providers to explore opportunities in Nasarawa State and Nigeria, citing the state's abundant mineral resources and investor-friendly environment.
The summit, themed "One Africa, One Resource Vision," brought together policymakers, investors, mining executives, development partners and industry experts from 15 African countries to discuss strategies for local value addition, sustainable mining, critical minerals development and industrial transformation.
Participants expressed optimism that the partnerships and commitments announced during AFNIS 2026 would accelerate Africa's transition from a supplier of raw materials to a key player in the global resource value chain.