Tinubu Urges Africa to Act Now, Not Later, on Development as Investors Gather in Abuja
Tinubu Urges Africa to Act Now, Not Later, on Development as Investors Gather in Abuja
By Matthew Eloyi
President Bola Tinubu has called on African nations to embrace collective action and regional cooperation to unlock the continent’s vast development potential, warning that continued siloed approaches would only stall progress.
Speaking through Vice President Kashim Shettima at the opening of the Fourth Annual Meeting of the Africa Sovereign Investors Forum (ASIF) in Abuja on Monday, Tinubu stressed that sovereign wealth funds must become more than just fiscal cushions—they must evolve into powerful instruments for economic transformation.
“Our future lies not in working in silos but in pursuing regional cooperation and collective ambition,” the President declared. “Our sovereign wealth funds must become the anchors for pan-African investment platforms that de-risk projects, standardise processes, and deliver sustainable outcomes at scale. This is not just a strategy. This is a necessity.”
The event, hosted by the Nigeria Sovereign Investment Authority (NSIA), brought together leaders of sovereign investment institutions across Africa to explore ways of mobilising global capital for transformative development on the continent. The forum’s theme was “Leveraging African Sovereign Wealth Funds to Mobilise Global Capital for Transformative Development in Africa.”
President Tinubu’s message was clear: the time for talk is over. He challenged African leaders to draw inspiration from global best practices and evolve their sovereign wealth funds into catalytic institutions capable of addressing infrastructure gaps, creating jobs, and building resilience against climate change.
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“There can be no greater inspiration to re-imagine how we invest in setting up critical infrastructure, strengthening our climate resilience, promoting food security through agricultural innovation, supporting micro, small and medium enterprises or embracing digital economy to create jobs and expand opportunity,” he said.
He praised the NSIA as a model of such catalytic action, describing it as “a steward of our sovereign capital” and “a vehicle for the delivery of strategic infrastructure.” Tinubu also noted that Africa’s growing youth population presents both an opportunity and a challenge, making job creation and investment in critical sectors more urgent than ever.
Strategic Priorities for Transformation
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, emphasized capital mobilisation, human capital development, and regional collaboration as top priorities for stakeholders. “These are critical for transformative development across the continent,” he said, expressing hope that the forum would give rise to impactful transactions and long-term partnerships.
NSIA’s Managing Director, Mr. Aminu Umar-Sadiq, outlined three goals for the gathering: balancing risk-taking with wealth preservation, building sustainable investment vehicles to attract global capital, and positioning Africa’s sovereign wealth funds as preferred partners for international investors.
ASIF Chairman, Mr. Obaid Amrane, lauded the forum’s progress since its inception, stating that it has “enhanced Africa’s global positioning and contributed to closing infrastructure funding gaps across the continent.”
AfreximBank President, Prof. Benedict Oramah, also weighed in, urging stakeholders to prioritise domestic investment. “We must keep African sovereign wealth funds on the continent,” he said, warning against the habitual offshoring of capital that could otherwise drive growth at home.
Lumumba’s Call for Intergenerational Duty
Pan-African scholar and activist, Prof. P.L.O. Lumumba, delivered a passionate call to action, urging leaders to leverage Africa’s “inexhaustible resources” for the benefit of generations yet unborn. “It is an intergenerational duty for political and economic leaders on the continent to cater for unborn generations,” he said, echoing a growing sentiment among thought leaders that Africa must take charge of its own destiny.
As leaders, investors, and experts departed the summit venue, one message resonated above all: Africa’s time is now, and its transformation must begin with strategic, homegrown investment.
If Tinubu’s call and the commitments made at ASIF translate into sustained action, the continent could be on the cusp of a new economic era driven not by aid, but by ambition.
