By Joy Odor
The Federal Government of Nigeria has emphasized the significance of the West Africa Economic Summit (WAES), describing it as a platform of purpose that brings together policy, enterprise, leadership, and innovation to drive regional integrations.
The Honourable Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu made this known in her welcome speech at the maiden edition of the WAES, International Conference Centre in Abuja on Friday.
She highlighted that the Summit is more than just a meeting but a moment of collective resolve to translate potential into prosperity.
Ambassador Bianca also informed that the Highlights include:
– *Regional Integration*: WAES aims to foster economic cooperation and unity among West African countries, leveraging their shared history, enterprise, and resilience.
– *Economic Potential*: The region has enormous untapped potential, with a population of over 400 million people and significant resources.
– *Challenges*: Despite progress, West Africa’s businesses face challenges in scaling due to fragmented markets and barriers to trade.
“WAES is more than a summit. It is a platform of purpose where policy meets enterprise, where leadership engages innovation, and where West Africa speaks with one voice on the promise of regional integration.”
“Our nations have long engaged not merely as neighbours, but as sisters, brothers, and comrades. Bound by a unique thread that extends across a vast diaspora, uniquely positioning us as leaders on the global stage” she noted.
She therefore challenged all participants to use the Summit as a turning point, a moment of collective resolve to translate potential into prosperity.
“We have proven our strength in various industries, including banking, digital services, agriculture, and extractive. Now, our task is to safeguard our regional bloc and drive the expansion of our industries through farsighted integration policies and reforms that reinforce our economic sovereignty.
“This initiative reflects Nigeria’s commitment to inclusive, region-wide collaboration, bringing together all West African countries to confront shared challenges and seize opportunities.
Also in her address, the Minister of Industry, Trade, and Investment’s Perspective, Jumoke Oduwole emphasized the need for an integrated West African marketplace to break down barriers and enhance trade.
She stressed that the vision of one market is not just an idea, but a necessity for the region’s growth and development.
According to her, the important of WAES signifies the region’s resolve to work together, shape its future, and take greater ownership of its development agenda.
Speaking on Infrastructure and Industrialization, the Minister affirmed that despite being resource-rich, Africa lacks the infrastructure and industrial systems needed to drive its future growth.
