Nigeria has formally joined the African Extractive Minerals Development Bank (AEMBANK) after signing the institution’s charter at the African Natural Resources and Energy Investment Summit (AFNIS) London Roadshow 2025 on December 4.
Dele Alake, minister of solid minerals development, represented by Fatima Shinkafi, executive secretary of the Solid Minerals Development Fund, signed on behalf of the government, the ministry said in a statement.
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Alake said the development marked the culmination of years of effort to establish a financing institution dedicated to transforming Africa’s mineral value chain.
He explained that AEMBANK would provide long-awaited support for the mining sector, boost job creation, and strengthen indigenous participation in mineral development.
According to him, the decision also positions Nigeria and the continent on a stronger path to industrial growth.
Conveying the minister’s message, Shinkafi announced the government’s commitment to hosting the bank’s headquarters in Nigeria.
Tim Morris, advisory board member at AEMBANK, commended the minister’s passion and consistency in advancing Nigeria’s accession, adding that the bank would foster what he described as a symbiotic handshake between the global North and the global South while working closely with the Nigerian government.
AEMBANK is a multilateral development finance institution established by African governments in partnership with private investors. Its mandate is to finance the extractive minerals value chain and accelerate the continent’s industrialisation.
