In a landmark step toward strengthening Africa’s mining and industrialisation agenda, Nigeria has formally acceded to the Charter of the African Extractive Minerals Development Bank (AEMBANK).
The historic signing was conducted on 4 December 2025 during the African Natural Resources & Energy Investment Summit (AFNIS) London Roadshow 2025, marking the culmination of years of intense negotiations.
Executive Secretary and Chief Executive Officer of the Solid Minerals Development Fund (SMDF), Hajia Fatima Umar-Shinkafi, who represented Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake signed the Charter on behalf of the Federal Republic of Nigeria.
The representative of the minister described the moment as a long-awaited milestone for the continent’s extractive sector.
She expressed profound satisfaction that the groundbreaking institution had finally come to fruition, noting that AEMBANK would deliver long-desired support to Africa’s mining industry.
According to Shinkafi, the Bank’s operations will catalyse job creation, economic expansion, and indigenous empowerment, ultimately placing Nigeria—and Africa more broadly—on a clear trajectory toward genuine industrialisation.
She also reaffirmed Nigeria’s firm commitment to hosting the Bank’s headquarters, a move expected to solidify the country’s position as a regional hub for mineral development financing.
Speaking on behalf of the AEMBANK Advisory Board, Ambassador Tim Morris commended Nigeria’s dedication and highlighted Dr. Alake’s passion and drive in advancing the country’s accession. He described AEMBANK as an institution poised to foster a “symbiotic handshake” between the Global North and South, adding that the Bank looks forward to working closely with the Nigerian government to unlock the continent’s mineral potential.
AEMBANK, a multilateral development finance institution established through collaboration between African sovereigns and private investors, carries the mandate of financing the mining sector to accelerate Africa’s long-term industrialisation.
Nigeria’s accession marks a significant endorsement of this vision and signals renewed momentum within the continent’s extractive landscape.
The AFNIS London Roadshow 2025 thus concluded on a historic note, with Nigeria’s membership in AEMBANK heralding new opportunities for sustainable mineral development, investment inflows, and enhanced global partnerships.
