President Bola Tinubu has urged West African nations to halt the exportation of unprocessed raw minerals, describing the current “pit-to-port” model as unsustainable and detrimental to long-term regional growth.
He made the call on Saturday during the inaugural West Africa Economic Summit (WAES) held at the Bola Ahmed Tinubu International Conference Centre, Abuja.
Speaking in his capacity as Chairman of the ECOWAS Authority of Heads of State and Government, Tinubu emphasised the need for local processing, regional manufacturing, and innovation to harness the continent’s natural resources for job creation and economic prosperity.
“The era of warm pit to the port must end. We must turn our mineral wealth into domestic economic value, jobs, technology, and manufacturing,” he said.
The WAES, which precedes the 67th Ordinary ECOWAS Summit scheduled for Sunday, was convened to deepen regional economic integration and expand intra-African trade and investment cooperation.
President Tinubu lamented that intra-regional trade within West Africa remains below 10 per cent, attributing this to poor coordination rather than a lack of political will. He called for joint investments in infrastructure, energy, digital frameworks, and policy alignment to accelerate regional development.
“Rather than competing in isolation or relying on external partners, we must strengthen our regional value chain, invest in infrastructure, and coordinate our policies,” he stated.
He also highlighted West Africa’s young population as a critical asset that could become a liability if not supported by education, digital infrastructure, and enterprise development.
The Nigerian leader warned against missing out on the fourth industrial revolution, urging African countries to capitalize on their rare minerals and support local entrepreneurship through stable and market-friendly policies.
“Europe left Africa behind in previous industrial revolutions. We cannot afford to be left behind again,” Tinubu cautioned.
The summit attracted presidents from Ghana, Liberia, Sierra Leone, Senegal, The Gambia, Benin, Togo, and Guinea-Bissau, alongside ministers from ECOWAS member states and officials from regional economic institutions including WAMA, WAMI, EBID, UEMOA, and the AfCFTA Secretariat.
Private sector leaders, development partners, and experts also participated in discussions aimed at advancing concrete policy actions to drive regional prosperity.
President Tinubu concluded with a call for actionable steps, urging West Africa to position itself as an investible, competitive, and resilient economic bloc.
“We must ease doing business, enhance trade, improve infrastructure connectivity, and develop innovative ideas that move our people from poverty to prosperity,” he said.
Tinubu also extended invitations to the Alliance of Sahelian States and Mauritania to join in the regional dialogue, underscoring the inclusive vision of West Africa’s integration agenda.
