Nigeria joins AEMBANK, bids to host headquarters

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.

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.

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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.

Ruth Tene Natsa

Ruth Tene, Assistant Editor, Agric/Solid Minerals/INEC Ruth Tene is an award-winning journalist with over 15 years experience in developmental reporting across several newsrooms, as a reporter, editor and other managerial roles. She holds a Postgraduate Diploma in Journalism from the University of Maiduguri among several other certifications She has attended several trainings and certifications both locally and internationally and has been recognized for her impactful work in humanitarian reporting, receiving the Gold Award for Humanitarian Services from the Amazing Grace Foundation. She is also a recipient of the Home Alliance Fellowship, reflecting her commitment to fostering a more humane, safer and more sustainable planet. An active member of professional journalism bodies, Ruth is affiliated with the Nigeria Union of Journalists (NUJ), the National Association of Women Journalists (NAWOJ), and the Agricultural Correspondents Association of Nigeria (ACAN), where she continues to advocate for excellence, ethical reporting, and development-focused journalism.