ABUJA — President Bola Ahmed Tinubu has called for a paradigm shift in Africa’s industrial development strategy, urging regional leaders to prioritize intelligent value-chain creation that transforms the continent’s natural resources into economic prosperity.
Speaking at the inaugural West Africa Economic Summit (WAES) in Abuja on Saturday, President Tinubu emphasized that Africa must not miss the opportunity presented by the current wave of global industrial transformation, particularly in green technologies.
“Africa was sidelined during previous industrial revolutions,” the president said. “We cannot afford to be left behind again. Our rare minerals will power the future, but that potential will remain unrealized unless we become value chain smart investing in local processing and regional manufacturing.
He declared the era of raw material exports without domestic value addition as obsolete, insisting that the continent must transition from a “pit-to-port” model to one rooted in technological advancement, job creation, and industrial capacity.
President Tinubu, who also serves as Chairman of the ECOWAS Authority of Heads of State and Government, identified the continent’s youthful population as its most strategic asset.
However, he cautioned that without deliberate investments in education, digital infrastructure, and innovation, this demographic advantage could become a liability.“Our region’s greatest strength lies in its young, energetic population,” .
But to unlock that strength, we must invest in their development through skills, digital tools, and productive enterprise.”Emphasizing the importance of regional cooperation, Tinubu cited Nigeria’s efforts in digital connectivity, youth empowerment, and human capital development.
He argued that no single country can achieve industrial transformation in isolation.“Our shared prosperity depends on integrated supply chains, energy systems, and data networks,” he noted.
“We must design these frameworks together, or risk watching them collapse independently.”The President also called for the immediate dismantling of trade barriers across West Africa, pointing out that intra-regional trade remains alarmingly low currently under 10 percent.
He warned that without coordinated action, the region’s pursuit of global economic relevance could falter.On investment and industrial infrastructure, Tinubu urged West African nations to shift focus from the export of unprocessed raw materials to building value-added industries that stimulate domestic economies.
He underscored the critical role of the private sector in driving transformation, stating that governments must serve as enablers through sound policies and regulatory stability.“Transformation will not be government led alone,” Tinubu said. “
It will come from unleashing entrepreneurial dynamism. Governments must create the right environment law, order, and market-friendly frameworks while the private sector fuels economic growth.
He concluded by charging summit participants including heads of state, policymakers, corporate executives, and development partners to commit to building a resilient and investable West Africa, driven by shared vision and collective responsibility.
