$10bn Deal: Northern Elders Attract Major Funding For Mining, Agriculture, Power Projects

In an effort to promote industrialization, draw in investment, and harmonize development policies throughout the northern region, the Northern Elders Forum (NEF) yesterday announced the creation of the Northern Nigeria Economic Development Council (NNEDC).

The announcement came after the Northern Nigeria Investment and Industrialization Summit (NNIIS) in Abuja concluded successfully, with attendees pledging more than $10 billion in new investments in the fields of power, mining, and agriculture.

The Forum stated that the NNEDC would function as the institutional framework for carrying out a Northern Nigeria Economic Development Masterplan, emphasizing security, policy coherence, and private capital as pillars for the region’s economic transformation. The statement was signed by Prof. Ango Abdullahi, the Chairman of the NEF Board of Trustees.

With the theme “Unlocking Strategic Opportunities in Mining, Agriculture, and Power (MAP 2025),” the two-day summit brought together a wide range of stakeholders, including representatives from the Federal Government, northern governors, the NNDC, the private sector, development partners, financiers, academics, and civil society organizations.

“Investment promotion agencies from the 19 Northern Nigerian States, corporate sponsors, and deal room/matchmaking (B2B, B2G) sessions also showcased investment opportunities at the summit,” he said. Over $10 billion in significant investments in mining, agriculture, and power were promised over the following five years.

In addition, representatives from Bangladesh, South Africa, India, Canada, Saudi Arabia, and Turkey were there and pledged to invest billions of dollars in the region’s developing industries.

Strategic presentations, high-level speeches, panel discussions, and masterclasses examining sectoral strengths, obstacles, and investment possibilities in mining, agriculture, and electricity were all part of the summit.

The federal government’s commitment to revitalizing Northern Nigeria’s economy through collaboration and institutional capital mobilization was reinforced by President Bola Tinubu, who opened the summit on behalf of Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

In response, NEF conveyed gratitude for the President’s backing and promised to maintain accountability in fulfilling this national commitment.

Governors from the North West, North East, and North Central regions pledged their states to a single regional economic vision at the event by signing the Northern Nigeria Economic Development Charter.

The newly established NNEDC will coordinate the execution of the Northern Nigeria Economic Development Masterplan (NNEDM) while functioning under the joint supervision of NEF and the Northern Nigeria Governors’ Forum (NNGF).

Within 60 days, an operational roadmap will be published by the Joint Implementation and Monitoring Taskforce (JIMT), which will also supervise transitional measures. Quarterly scorecards will be issued by the NNEDC to monitor quantifiable results including investments mobilized, jobs produced, and energy capacity added.

The occasion represented “a decisive pivot from rhetoric to execution” in Northern Nigeria’s development trajectory, according to remarks made by Prof. D.D. Sheni, Director-General of NEF.

In his words, “Northern Nigeria can transform its endowments into sustainable growth with security as the bedrock, policy coherence as the framework, and private capital as the engine.”

NEF reaffirmed its dedication to openness, responsibility, and equitable prosperity as it guides the area into a new phase of concerted economic development.

“Significant deposits across states (such as gold, copper, lithium, tantalite, and granite),” he continued. Regional supplier ecosystems; potential for mineral-based industrialization and local processing.

Without effective ESG protections, there is a risk of illegal mining, environmental damage, and social unrest. inadequate mineral resource data.

Clear royalties, community involvement, conflict resolution, E&S compliance, and reliable, consistent permitting are all necessary. Reforming the governance of mining and natural resource development is necessary.

The participants placed a strong emphasis on using capital-market tools (project bonds, sukuk/green bonds, and infrastructure funds) to finance off-grid/mini-grid solutions, transmission, generation, and distribution.

“To expedite the delivery of infrastructure, use standardized PPP frameworks and model contracts with transparent procurement and risk allocation.

Establish Community Benefit Agreements, grievance procedures, and land administration reforms (digitized cadastre, explicit titling, and time-bound consent).

“Start a capital mobilization program in Northern Nigeria by utilizing DFIs, pension funds, sovereign and diaspora capital, and creating blended-finance vehicles and thematic instruments (project bonds, infrastructure, sukuk, and green).”