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From Charity Nwakaudu, Abuja
Nigeria has landed a massive win, formally signing up to the African Extractive Minerals Development Bank (AEMBANK) after years of back-and-forth.
The breakthrough came on 4 December 2025, at the AFNIS London Roadshow, where Hajiya Shinkafi signed on behalf of the Minister of Solid Minerals Development, Dr. Oladele Alake.
In a statement released to journalists in Abuja, Shinkafi described the deal as a “long-awaited lifeline” for Nigeria’s mining sector—jobs, growth, and local empowerment in one sweep.
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She also revealed Nigeria’s firm interest in hosting the Bank’s headquarters, a bold move placing the country at the heart of Africa’s industrial rise.
AEMBANK Advisory Board member, Ambassador Tim Morris, applauded Nigeria’s push, praising Dr. Alake’s passion and drive. He said the Bank would spark a new “handshake” between the Global North and South.
AEMBANK is a new powerhouse development institution backed by governments and private investors, established to channel major financing into Africa’s mining sector and fast-track the continent’s industrial revolution.
