President Bola Tinubu has called on African countries to work collectively to unlock the continent’s economic potential, highlighting the role of sovereign wealth funds as instruments of transformation rather than mere fiscal reserves.
The Nigerian leader’s remarks were delivered by Vice-President Kashim Shettima at the Africa Sovereign Investors Forum (ASIF), convened in Abuja and hosted by the Nigeria Sovereign Investment Authority (NSIA).
With the world undergoing rapid changes, Tinubu said it was imperative that Africa positions itself to benefit from the current shifts in global finance and development trends. He advocated for cross-border cooperation in sovereign investment to address structural deficits, build climate resilience, and empower young people.
“We cannot afford to operate in isolation. Our future depends on regional collaboration and bold investment strategies that deliver impact at scale,” Tinubu said. “This is no longer an option—it’s a necessity.”
The ASIF platform, according to Tinubu, provides a crucial framework for African sovereign investment bodies to co-invest, pool knowledge, and speak with a unified voice in global financial circles.
NSIA Managing Director Aminu Umar-Sadiq outlined ASIF’s ambition to create a pan-African vehicle capable of attracting large-scale capital to projects with strong commercial and developmental value. He also highlighted the need for a balanced approach that appeals to both cautious and growth-oriented investors.
Finance Minister Wale Edun said that unlocking Africa’s potential requires concerted efforts in mobilising capital, strengthening human capacity, and aligning policies across nations.
AfreximBank President Benedict Oramah stressed that retaining sovereign wealth within Africa would help shape a development path led by Africans themselves.
Prof. P.L.O. Lumumba, a pan-African scholar, added a moral dimension, calling on today’s leaders to invest wisely for the benefit of future generations, arguing that Africa’s resources must not be squandered but secured for posterity.
Since its inception three years ago, ASIF has sought to address infrastructure financing gaps and elevate Africa’s standing within global investment circles.
