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By Tracy Moses
The West Africa Economic Summit (WAES) officially commenced on Friday in Abuja, with the Federal Government expressing its strong commitment to fostering inclusive and region-wide collaboration. The summit, according to officials, represents more than just another gathering, it marks a pivotal step toward turning the region’s potential into tangible prosperity.
Speaking at the opening ceremony on Thursday at the International Conference Centre, Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, welcomed delegates to the inaugural edition of the WAES, underscoring Nigeria’s enduring dedication to a unified West African effort.
“This summit is not just a formality, it is a critical opportunity for us to convert shared aspirations into action,” said Ambassador Bianca. “Nigeria remains fully committed to fostering cooperation across all West African nations, regardless of political or institutional differences, to address mutual challenges and harness emerging opportunities.”
She described WAES as a purposeful forum that merges policy with enterprise, leadership with innovation, and gives West Africa a unified platform to advocate for deeper regional integration.
“WAES stands as a purposeful arena, where decisions meet innovation, where leadership connects with enterprise, and where West Africa speaks in one voice about the promise of regional integration,” she noted.
“Our countries have interacted not just as neighbors, but as family. We share a rich bond that spans across our diaspora, uniquely positioning us to take leadership on the global stage,” she added.
Amb. Bianca further emphasized that the region’s industries have already demonstrated their capability, citing notable progress in areas like banking, digital innovation, agriculture, and natural resources.
“We are not here to discuss whether we can build industries, we have already shown that we can. Our current mission is to protect our regional unity and grow these industries through visionary policies that reinforce our economic independence,” she said.
She concluded by urging participants to fully engage in the summit. “On behalf of the Nigerian government and people, I welcome you all to Abuja. Let us think big, collaborate deeply, and leave this summit with real strategies that boost trade and investment throughout West Africa.”
In her own remarks, Minister of Industry, Trade, and Investment, Jumoke Oduwole, made a strong case for the creation of an integrated West African market.
She stressed that achieving a unified regional market is not just aspirational but essential, arguing that breaking down trade barriers is vital for regional economic growth.
“The time for a fully integrated West African market is now,” she declared. “A single market is not just a lofty idea, it’s an urgent need. We must dismantle the trade and policy obstacles that continue to hinder the free movement of goods, services, and people.”
Minister Oduwole emphasized that the WAES signifies a turning point in the region’s journey toward economic unity.
“This summit reflects our collective resolve to take ownership of our narrative, invest in our progress, and jointly shape our future,” she said.
She also pointed out the paradox that while Africa is the world’s most resource-rich continent, it still lacks the infrastructure and industrial systems necessary to unlock that wealth.
“With over 400 million people and a deep-rooted history of resilience and entrepreneurship, West Africa holds vast, yet untapped promise. But we must accept that our businesses won’t grow if our markets remain disjointed,” she stated.
While acknowledging the ECOWAS Trade Liberalisation Scheme as a positive step, the Minister concluded that more needs to be done to truly enhance intra-regional trade