Nigeria President, Bola Tinubu, has said it is only Africa’s industrial revolution that can be fast tracked by creating a smart value-chain for the region’s abundant natural resources.
President Tinubu, stated this in his remarks at the inaugural West Africa Economic Summit (WAES) on Saturday in Abuja.
While speaking, President Tinubu said, “Let us recognise that Africa was left behind in previous industrial revolutions.
“We cannot afford to miss the next one. 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.” he said.
The President also underscored the need to harness the continent’s youthful population and abundant natural resources for peconomic transformation.
He described the region’s vibrant, youthful population as its greatest asset.
“Our region’s greatest asset is its youthful population.
“However, this demographic promise can quickly become a liability if not matched by investments in education, digital infrastructure, innovation, and productive enterprise,” he said.
The president emphasised the need for regional cooperation, citing Nigeria’s investments in skills development, digital connectivity, and youth empowerment.
“No one country can do this alone. Our prosperity depends on regional supply chains, energy networks, and data frameworks.
“We must design them together – or they will collapse separately,” he said.
Tinubu called for urgent efforts to dismantle trade barriers across the sub-region in line with global best
He expressed concern that, with intra-regional trade still below 10 per cent, West Africa must “coordinate or collapse” in the race for global economic relevance.
On infrastructure and investment, he urged West Africa to move beyond the export of raw materials and prioritise value-added industries:
The Nigerian leader, who is the Chairman of the ECOWAS Authority of Heads of State and Government, underscored the role of the private sector in driving transformation.
“The fundamental transformation will not come solely from government, but from unleashing our people’s entrepreneurial spirit.
Governments must provide the right environment—law, order, and market-friendly policies—while the private sector drives growth, ” he said.
He charged the summit participants – hoeads of state, policymakers, business leaders, and development partners – to build an investable and resilient West Africa by leading with vision and responsibility.
However, it was further reported that the summit was attended by ECOWAS leaders, the private sectors, development partners, and policy experts.
(NAN)
