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The $1 billion question: Who controls Aboriginal futures?

Nigel Browne -

It has been just over a fortnight since Garma, the annual celebration and gathering that showcases Yolngu people, culture and Country.

What usually transcends the days after Garma is positive uplifting of our culture, our Country and more importantly, of Aboriginal Territorians as a whole. But this time is different.

In my new role I've taken time for reflection, to assess obstacles and to find pathways forward. I stood to deliver a message at Garma that's been building for decades, and the urgency underpinning that message continues to grow.

Aboriginal Traditional Owners from the Northern Territory have long fought for economic control over the wealth generated from our lands. The Aboriginal Benefits Account (ABA), born out of the Aboriginal Land Rights Act (1976), holds over $1 billion that is currently held in abeyance from the very people it is meant to benefit, Aboriginal Territorians.

The reality is, unless it is managed by the right hands, it will not uplift our communities at a pace necessary to bring parity to the NT's population as a whole. In short, our hands are the right hands.

Previously, a portion of the ABA was released to Aboriginal Investment NT, an organisation created to empower Traditional Owners in the NT to manage our own capital and see it redistributed back into communities in a sustainable manner. And so far, we have proved that the funds we steward are in safe hands, having achieved returns of 7-8 per cent through calculated strategic investments. Aboriginal Investment NT is here for the long term, and this is only the beginning.

It is capital that is managed for Aboriginal Territorians, by Aboriginal Territorians, and is completely focused on being returned to our communities through economic development and investment.

So, what is the plan for the remaining $1 billion currently held in the ABA by Canberra?

Our concerns were flagged at Garma, and they were presented against an increasingly difficult backdrop: the Northern Territory is leading the nation in Closing the Gap outcomes that are worsening and getting wider.

There is ongoing economic austerity imposed on Aboriginal organisations and communities, including systemic defunding of Aboriginal-led initiatives by the NT Government, who has done little to address poor housing, poor educational outcomes in remote schools, low employment rates and high suicide rates, all the while spruiking a 'tough on crime' mantra that has almost upended the NT's criminal justice system.

While Aboriginal Investment NT is focused on supporting Aboriginal Territorians and ensuring they can self-determine their own futures; as long as the status quo is kept with the way the ABA is currently being 'managed', the NT, and our communities remain at risk of a widening economic and social divide.

We didn't gather at Garma to ask for handouts. We gathered to advocate for the return of what is already ours. Our funds. Our ABA. Our future.

Garma also saw an address from Prime Minister Anthony Albanese, outlining a new economic vision for Aboriginal communities by announcing a partnership between the Commonwealth, the First Nations Economic Empowerment Alliance, and the Coalition of Peaks.

This promise included $75 million to support native title holders, millions more for mobile TAFE, and funding for clean energy projects. This, he said, was a part of "a new way of doing business" grounded in shared decision-making and long-term prosperity.

While it signalled meaningful action, voices at Garma – including those of the Yolngu leaders – reminded us all that tangible change must follow these verbal promises.

Beyond the politics and speeches, Garma feels like home. Art, song, bunggul and story echoed across Gulkula as elders, mob, and allies came together on sacred land. Visiting artists, international delegates, and young children looked on with wonder, festival-goers spoke of the unique warmth and the way Garma slows you down, opens you up, and reminds you of the strength in unity.

We remembered those who led before us, Dr. G. Yunupingu AC, Dr. S. Bush-Blanasi, Mr. T Wurramarrba AO – and acknowledged leaders like Ken Wyatt, who once trusted Aboriginal Territorians to write the next chapter of Land Rights with the creation of Aboriginal Investment NT.

We now work with Minister McCarthy, a Garrwa and Yanyuwa woman, to lead us into the next chapter of investment and economic prosperity for Aboriginal Territorians.

Nigel Browne, CEO of Aboriginal Investment NT

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