From Charity Nwakaudu, Abuja
The Federal government is partnering the African Natural Resources & Energy Investment Summit (AFNIS) to empower marginalized communities and strategically utilizing fossil fuel revenues to fund the transition to a greener Africa.
Minister of Solid Minerals Development, Dr. Oladele Alake stated at a news conference ahead of this year’s AFNIS summit in Abuja.
Dr. Alake explained that
empowering Marginalized Communities, Equitable distribution of resources and targeted investments in local communities are key to empowering those who have been historically underserved.
“This year’s summit, under the theme “Natural Resources for Economic Development,” underscores the significant role that Africa’s natural resources play in driving economic prosperity. Our focus will be on empowering marginalized communities and strategically utilizing fossil fuel revenues to fund the transition to a greener Africa” he added.
The Minister stressed that critical areas to be address include Economic Growth and Prosperity, Efficient management and utilization of natural resources which are critical for achieving the SDGs.
“By fostering economic growth, we can alleviate poverty, create job opportunities, and ensure prosperity for all. The responsible exploitation of our resources will generate revenues that can be reinvested into our economies, enhancing infrastructure, healthcare, and education” Dr. Alake emphasized.
The Minister emphasized that this cycle of growth will elevate the living standards of the people and position Africa as a formidable player in the global economy.
“This will reduce inequality, promote social stability, and ensure inclusive growth across the continent. By channeling investments into rural areas and marginalized communities, we can create opportunities for sustainable livelihoods, improve access to essential services, and foster an environment where every individual has the chance to thrive” he noted
He stressed that leveraging on natural resources wisely, will address crucial issues such as quality education, gender equality, clean water and sanitation, affordable and clean energy, and proactive climate action.
“Each of these goals is interconnected, and our strategy involves a holistic approach that considers the multifaceted nature of development. Through innovative policies and strategic investments, we can create a balanced growth model that benefits all sectors of society”
Dr. Alake stated that the transition to Cleaner energy will also open new avenues for job creation and technological advancement, positioning Africa at the forefront of the global green economy.
“Transition to Cleaner Energy: While fossil fuels have significantly contributed to our economies, the need to transition to cleaner energy sources is paramount. By investing in renewable energy technologies, we can reduce our carbon footprint, mitigate the impacts of climate change, and build a resilient energy infrastructure that supports sustainable development.
Earlier in her welcome address, the Permanent Secretary of the Ministry of Solid Minerals Development, Dr. Mary Ogbe explained that the summit is expected to bring together government to industry leaders to leverage on intellectual and natural resources for economic development.
Dr. Ogbe who was represented by Director of human resources, Dr. Ijeoma Idika stated that the theme for this year’s event would provide a platform to discuss and collaborate innovative avenues for investment, development and energy transition for the African continent noted that it would also create avenues for increased employment, prosperity a stability across the mining and energy value chain.