By John Moses
Nigerian President Bola Tinubu has urged African nations to foster deeper regional cooperation and coordinated action to drive transformative growth across the continent.
Speaking through Vice-President Kashim Shettima at the opening of the Fourth Annual Africa Sovereign Investors Forum (ASIF) in Abuja, Tinubu said the continent’s sovereign wealth funds should evolve into strategic instruments for long-term development.
The event, hosted by the Nigeria Sovereign Investment Authority (NSIA), focused on the theme “Leveraging African Sovereign Wealth Funds to Mobilise Global Capital for Transformative Development in Africa.”
President Tinubu emphasised that African countries must take advantage of sovereign wealth institutions to bridge infrastructure gaps, boost resilience to climate change, and provide opportunities for the continent’s rapidly expanding youth population.
“Our sovereign wealth funds must evolve beyond being fiscal buffers. They must become anchors for cross-border investments that lower risk, unify investment processes, and deliver sustainable outcomes at scale,” he said.
Amid limited public finances and increasing demand for long-term capital, Tinubu advocated a creative approach to development finance. He also praised the NSIA’s role as a “catalyst for national development” in areas such as renewable energy, healthcare, agriculture, and digital innovation.
Also speaking, NSIA Managing Director Aminu Umar-Sadiq highlighted three goals: balancing risk between long-term and growth-oriented investments, co-creating sustainable vehicles for global capital mobilisation, and positioning Africa as an attractive destination for foreign investment.
Finance Minister Wale Edun added that collaboration, capital mobilisation, human capital development, and policy alignment are key to unlocking Africa’s potential.
The event also featured remarks from Prof. Benedict Oramah, President of AfreximBank, who advocated for retaining African wealth within the continent, and Prof. P.L.O. Lumumba, who urged African leaders to invest in the prosperity of future generations.
