President Bola Tinubu says Africa’s industrial revolution can only be fast-tracked by creating a smart value-chain for the region’s abundant natural resources.
The President stated this in his remarks at the inaugural West Africa Economic Summit (WAES) on Saturday in Abuja.
“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 economic 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 practices.
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 – heads of state, policymakers, business leaders, and development partners – to build an investable and resilient West Africa by leading with vision and responsibility.
The News Agency of Nigeria (NAN) reports that the summit was attended by ECOWAS leaders, the private sector, development partners, and policy experts. (NAN)
