Abuja: President Bola Tinubu has underscored the need to fast-track economic integration, unity, and peace within the West African sub-region. The President stated this in his opening address at the inaugural West Africa Economic Summit (WAES) on Saturday in Abuja.
According to News Agency of Nigeria, the initiative is led by President Tinubu in his capacity as Chairman of the ECOWAS Authority of Heads of State and Government. WAES is the first of its kind and is convened to deepen regional economic integration. Tinubu emphasized that the summit offers a historic opportunity to chart a collective course for sustainable economic integration, improved trade flows, and cross-border investments within the region.
President Tinubu remarked, “Today is not about celebrating how far we’ve come but forging a new path that leaves behind fragmentation and missed opportunities and moves us toward deeper integration, collective action, and shared prosperity.” He highlighted that West Africa, despite being one of the last great frontiers of economic growth, must earn its transformation through vision, integration, policy coherence, collaboration, and capital alignment. He noted that intra-regional trade remains under 10%, a challenge that can no longer be ignored.
The President stressed the importance of ECOWAS member states working more collaboratively, rather than relying on foreign partners. He advocated for strengthening regional value chains, investing in infrastructure, and coordinating policies. Tinubu pointed out the region’s youthful population as its greatest asset, which could become a liability if not matched by investments in education, digital infrastructure, innovation, and productive enterprise.
Tinubu also emphasized the need for local processing of the region’s mineral wealth and regional manufacturing. He stated, “Our rare minerals power tomorrow’s green technologies-yet it is not enough to be resource-rich. We must become value-chain smart and invest in local processing and regional manufacturing. The era of pit to port must end. We must turn our mineral wealth into domestic economic value-jobs, technology, and manufacturing.”
The President called for massive partnerships with the private sector to drive economic integration, asserting that the fundamental transformation will not come solely from government but from unleashing entrepreneurial spirit. He stressed that governments must provide the right environment, including law, order, and market-friendly policies, while the private sector drives growth.
The News Agency of Nigeria reports that the summit was attended by ECOWAS leaders, the private sector, development partners, and policy experts. It is expected to yield concrete outcomes and deliverables to boost West Africa’s integration agenda as a critical foundation for sustainable peace, security, and prosperity in the region.
Coordinated by the Federal Ministry of Foreign Affairs, the WAES 2025 is one of the signature initiatives under President Tinubu’s Renewed Hope foreign policy and economic diplomacy drive. The summit precedes the 67th Ordinary Summit of the Economic Community of West African States (ECOWAS), scheduled for the State House, Abuja, on Sunday.