President Bola Ahmed Tinubu has issued a decisive call for West African nations to abandon the longstanding practice of exporting raw minerals without local value addition, describing the trend as “pit-to-port” dependency.
Speaking Saturday at the inaugural West Africa Economic Summit (WAES2025) held at the Bola Ahmed Tinubu International Conference Centre in Abuja, the Nigerian President urged regional leaders to prioritize industrial development, regional value chains, and innovation.
“We must turn our mineral wealth into domestic economic value, jobs, technology, and manufacturing,” Tinubu said.
“Let us also 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.”
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The summit, a presidential initiative of Tinubu, preceded the 67th Ordinary Summit of ECOWAS, which was held on Sunday at the State House Conference Centre in Abuja.
It brought together Presidents from Ghana, Liberia, Sierra Leone, Senegal, The Gambia, Benin, Togo, and Guinea-Bissau, along with finance, trade, infrastructure, and foreign affairs ministers from ECOWAS member countries.
Also present were representatives from major regional bodies such as the West African Monetary Agency (WAMA), West African Monetary Institute (WAMI), ECOWAS Bank for Investment and Development (EBID), the West African Economic and Monetary Union (UEMOA), and the African Continental Free Trade Area (AfCFTA) Secretariat.
President Tinubu, who currently serves as ECOWAS Chairman, emphasized the urgency of regional collaboration for economic reform.
“Our task is to find new and effective ways to invest in our collective future, improve the business climate, and create opportunities for our youth and women,” he said.
He pressed leaders to deliver more than dialogue, calling for concrete, measurable commitments.
“Let us emerge from this summit with actionable outcomes: a renewed commitment to ease of doing business, enhanced intra-regional trade, improved infrastructure connectivity, and innovative ideas that move our people 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 stated.
Citing the region’s young population as its greatest asset, he warned of the consequences of neglect.
“It could become a liability if not supported through investment in education, digital infrastructure, and enterprise,” he cautioned.
The WAES is expected to lead to policy outcomes aimed at fast-tracking West Africa’s integration, seen as essential to long-term peace, security, and shared prosperity in the region.
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