…Calls for urgent action on regional trade
By Eshiorameh Sebastian, Abuja
President Bola Tinubu today called for urgent action to boost West Africa’s economic integration, saying that the region cannot afford to maintain its current low levels of intra-regional trade, just as he declared that the global economy will not pause for the region to address its economic challenges.
Speaking in his capacity as ECOWAS Chairman at the opening of the West Africa Economic Summit, the Nigerian leader presented data showing trade between member states remains below 10% – significantly lower than other regional blocs.
“The global economy will not wait for West Africa to get its act together, and neither should we,” Tinubu said in his capacity as Chairperson of the ECOWAS Authority of Heads of State and Government. “Rather than competing in isolation or relying on external partners, we must strengthen our regional value chains, invest in infrastructure, and coordinate our policies.”
The Nigerian president highlighted the alarming statistic that intra-regional trade in West Africa remains below 10%, describing it as “a challenge we can no longer afford to ignore.”
He emphasised that this low trade volume results not from lack of will but from coordination failures among member states.
Tinubu pointed to West Africa’s youthful population as both its greatest asset and potential liability. “This demographic promise can quickly become a crisis if not matched by investments in education, digital infrastructure, innovation and productive enterprise,” he warned.
While acknowledging Nigeria’s efforts in skills development and youth empowerment, he stressed that “no one country can do this alone.”
The ECOWAS chair called for an end to Africa’s traditional role as mere exporter of raw materials, particularly in the context of green technologies.
“Our rare minerals power tomorrow’s green technologies – yet it is not enough to be resource-rich; we must become value-chain smart,” he said. “The era of pit to port must end. We must turn our mineral wealth into domestic economic value – jobs, technology, and manufacturing.”
Tinubu cited ongoing regional projects like the Lagos-Abidjan Highway and West African Power Pool as examples of successful cooperation, but insisted more concrete action was needed. “We must move from declarations to concrete deals; from policy frameworks to practical implementation,” he urged summit participants.
While acknowledging government’s role in creating enabling environments, the Nigerian leader emphasised that true transformation would come from private sector dynamism. “The fundamental transformation will not come solely from government but from unleashing our people’s entrepreneurial spirit,” he said.
The president challenged attendees to leave the summit with tangible outcomes including improved ease of doing business, enhanced intra-regional trade, better infrastructure connectivity and innovative solutions to move citizens from poverty to prosperity.
“Let us build a West Africa that is investable, competitive, and resilient – one that leads with vision, responsibility, and unity,” Tinubu concluded. “This is the new West African proposition. Let us make it real, let us make it bankable.”
The summit continues through next week with sessions focused on trade facilitation, infrastructure development and private sector engagement. Delegates from all 15 ECOWAS member states are in attendance along with representatives from international financial institutions and major corporations operating in the region.
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