Paragraph 1: The Call for West African Economic Unity
President Bola Tinubu of Nigeria, in his capacity as Chairperson of the Economic Community of West African States (ECOWAS), delivered a powerful call to action at the West African Economic Summit in Abuja. He urged the region’s nations to prioritize economic unity, policy alignment, and aggressive investment as the cornerstones of a prosperous future. Emphasizing the urgency of the situation, Tinubu declared that the time for symbolic gestures had passed and tangible outcomes were now paramount. He underscored the summit’s purpose as not merely a celebration of past achievements, but a crucial step towards deeper integration, collective action, and shared prosperity for all West African nations.
Paragraph 2: Self-Reliance and Regional Collaboration
Tinubu cautioned against relying solely on international partners or engaging in isolated competition. He stressed the need for West African nations to strengthen their regional value chains, invest in infrastructure development, and coordinate policies to achieve collective economic growth. He pointed out that the global economy would not wait for West Africa to organize itself and that the region must take proactive steps towards integration. He lamented the low level of inter-regional trade, currently under 10 percent, attributing it not to a lack of will but to insufficient coordination.
Paragraph 3: Harnessing the Youth Dividend
Recognizing the region’s significant youth population, Tinubu emphasized the importance of strategic investments in education, digital infrastructure, innovation, and productive enterprises to harness this demographic dividend. He warned that without such investments, this potential asset could become a liability. He cited Nigeria’s efforts in skills development, digital connectivity, and youth empowerment as examples, but stressed the need for regional collaboration. Tinubu highlighted that the success of these endeavors hinged upon the development of interconnected regional supply chains, energy networks, and data frameworks. He warned that without a unified approach, these crucial elements risked collapsing individually.
Paragraph 4: From Declarations to Actionable Outcomes
Tinubu urged a shift from declarations to concrete deals and from policy frameworks to practical implementation. He emphasized the urgency of moving beyond rhetoric and focusing on tangible action. He stressed that resource richness alone was insufficient, and advocated for a strategic shift towards value chain optimization and local processing. He called for an end to the practice of simply extracting raw materials for export ("one pit to the port") and emphasized the need for investment in regional manufacturing to create added value and boost local economies. He underlined the summit’s objective of producing actionable outcomes, including renewed commitment to ease of doing business, enhanced inter-regional trade, improved infrastructure connectivity, and innovative ideas for poverty eradication and prosperity.
Paragraph 5: The Role of Government as Facilitator
Foreign Minister Yusuf Tuggar echoed Tinubu’s sentiments, emphasizing the need for a pragmatic approach to governance and private sector cooperation. He positioned government as a facilitator rather than a central actor, emphasizing the importance of creating an enabling environment. He stressed the need for governments to recognize the limits of their influence and instead empower the private sector to drive economic transformation. Tuggar highlighted the significant gap in intra-African trade, pointing out that only a small fraction of West Africa’s exports remained within the region. He identified the primary issue as one of orientation rather than capacity, noting the informal sector’s ability to bypass cumbersome regulations and deliver goods across borders.
Paragraph 6: Controlling West Africa’s Destiny
Tuggar urged regional governments to create conditions conducive to private sector growth, advocating for a shift away from outsourcing the region’s future and taking control of its destiny. He expressed the hope that the summit would demonstrate West Africa’s capacity to facilitate deals between government, industry, and other stakeholders within the region. He underscored the importance of translating discussions into concrete action. Tuggar also challenged global narratives about resource monopolies, highlighting the presence of rare minerals crucial for future industries within Nigeria and the wider region. This, he argued, provides West Africa with an opportunity to control its own resources and drive its own technological advancements. He underscored the need to capitalize on these resources and emphasized the significance of action over mere discussion.
