The 2025 West Africa Economic Summit kicked off on Saturday, June 21, at the International Conference Centre, Abuja, with a powerful opening address by President Bola Ahmed Tinubu. Speaking as the Chairperson of the ECOWAS Authority of Heads of State and Government, Tinubu urged regional leaders and stakeholders to commit to a new era of economic collaboration and regional development.
“It is an honour to welcome you all, fellow Heads of State, distinguished guests, delegates, and partners, to the inaugural West Africa Economic Summit,” Tinubu stated. “Your presence here signals our shared commitment to shaping a new economic future for our region.”
The president emphasized that West Africa stands at a crucial moment and cannot afford to delay its transformation. He pointed out that despite being a region with immense economic potential, intra-regional trade still remains below 10%. “The low trade is not due to a failure of will but a coordination failure,” he said. “The global economy will not wait for West Africa to get its act together, and neither should we.”
President Tinubu called for strengthening regional value chains, investing in modern infrastructure, and aligning economic policies. He cited Nigeria’s focus on youth empowerment, skills development, and digital infrastructure as examples of initiatives that should be scaled across the region. “Our region’s greatest asset is its youthful population. But this promise can quickly become a liability if not matched by investments in education, innovation, and productive enterprise,” he warned.
Highlighting regional cooperation, Tinubu praised existing projects like the Lagos-Abidjan Highway, the West African Power Pool, and digital economy partnerships. However, he stressed the need to go beyond agreements and move into real implementation. “We must move from declarations to concrete deals; from policy frameworks to practical implementation,” he said.
The summit also addressed the importance of tapping into the region’s vast mineral wealth for domestic development. Tinubu warned against exporting raw materials without adding value locally. “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.”
The president made a strong call for an improved business climate to attract investors and encourage innovation. “Governments must provide the right environment, law, order, and market-friendly policies, while the private sector drives growth,” he said. The focus, he noted, should be on creating opportunities, especially for youth and women, by enhancing access to finance, improving connectivity, and making the region more competitive.
In line with the summit’s agenda, President Tinubu called for actionable results. “Let us emerge from this summit with actionable outcomes: a renewed commitment to ease of doing business, enhanced intra-regional trade, improved infrastructure connectivity, and innovative ideas that move our people from poverty to prosperity.”
He concluded by emphasizing the need to make West Africa an attractive hub for investment and technology. “Let us build a West Africa that is investable, competitive, and resilient—one that leads with vision, responsibility, and unity. This is the new West African proposition. Let us make it real, let us make it bankable.”
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