Nigeria’s President Bola Tinubu has called on African nations to pursue collective action and regional cooperation in order to achieve meaningful and transformative development across the continent.
Speaking on Monday in Abuja at the opening of the 4th Annual Meeting of the Africa Sovereign Investors Forum (ASIF), hosted by the Nigeria Sovereign Investment Authority (NSIA), President Tinubu emphasised that strategic use of sovereign wealth funds is essential to bridging Africa’s infrastructure gap, enhancing climate resilience, and creating employment opportunities for the continent’s expanding youth population.
The President noted that the forum, themed “Leveraging African Sovereign Wealth Funds to Mobilise Global Capital for Transformative Development in Africa,” was taking place at a pivotal moment when the world is rapidly changing and demands fresh, innovative thinking.
According to Tinubu, African nations must position themselves to take advantage of global shifts, drawing lessons from how sovereign wealth funds worldwide have evolved beyond being mere financial buffers to becoming engines of national transformation.
While acknowledging Africa’s developmental challenges, particularly limited fiscal capacity alongside mounting demands for long-term capital, Tinubu highlighted innovation as the solution. He stressed that achieving progress in critical infrastructure, climate resilience, food security, enterprise support, and digital economy development would require institutions that blend strategic vision with financial discipline.
He described the Nigeria Sovereign Investment Authority as not only a guardian of national wealth but also a driver of strategic infrastructure projects across sectors such as renewable energy, healthcare, and agriculture. The authority, he said, is pioneering creative capital mobilisation solutions tailored to Africa’s unique needs.
President Tinubu praised the official launch of the ASIF Investment Platform, describing it as a vital step in deepening cooperation among Africa’s sovereign wealth funds.
Nigeria’s Minister of Finance, Wale Edun, outlined key priorities for forum participants, including large-scale capital mobilisation, regional collaboration, human capital development, and policy alignment. He expressed confidence that the forum would produce tangible transactions capable of mobilising vital resources to drive Africa’s economic transformation.
ASIF Chairman, Obaid Amrane, reaffirmed Africa’s readiness for business, stating that the forum is committed to boosting sovereign investor participation in Africa’s growth. He noted that in just three years, ASIF has made meaningful progress in narrowing infrastructure financing gaps and promoting partnerships between governments and investors on transformative projects.
The Managing Director of the NSIA, Aminu Umar-Sadiq, underscored the critical role of private capital in developing infrastructure across Africa, outlining the forum’s priority investment areas designed to deliver widespread social and economic impact.
Pan-African activist Professor PLO Lumumba urged African leaders to invest the continent’s vast resources internally for the benefit of future generations. He stressed that sovereign funds should be channelled into domestic development rather than being invested abroad, emphasising the moral responsibility of today’s leaders to safeguard the prosperity of generations yet to come.
