The Minister of Foreign Affairs, Yusuf Tuggar has expressed Nigeria’s readiness to host the forthcoming West African Economic Forum (WAEF) scheduled for 20th and 21st June,2025 in Abuja.
Tuggar at a media parley on Monday noted that the forum, which is an initiative of President Bola Ahmed Tinubu aimed at strengthening economic ties, unlocking investment opportunities, and promoting sustainable development across West Africa.
The minister explained that the summit was designed to foster regional integration and economic cooperation among member states.
He said, “We’re not just talking about ECOWAS and ECOWAS states, but indeed to all states, businesses, private sector, development finance institutions that pertain to the West African region.
“What we’re talking about is regional integration. What we’re doing with each other. How do we strengthen that so that we’re trading more.”
Tuggar explained that the event aimed at unlocking investment opportunities by identifying and supporting investment-ready projects.
The minister noted that the summit also seeks to foster sustainable development by encouraging inclusive economic growth and development.
He added that the event would feature a range of activities, including a deal room, business conferences, and cultural events showcasing the region’s rich heritage.
Overall, the minister stressed that West Africa Economic Summit (WAES) promises to be a landmark event, driving regional integration, promoting economic cooperation, and fostering sustainable development in West Africa.
Tuggar emphasised that with its unique approach and focus on private sector participation, the summit has the potential to unlock new opportunities for growth and development in the region.
He said the summit would provide a platform for governments and the private sector to engage and address concerns related to security and other issues affecting business in the region.
He said the summit’s objectives align with the African Continental Free Trade Area (AfCFTA) ambitions, focusing on promoting intra-African trade by strengthening regional trade and investment.
Tuggar noted: “For business to take place, to thrive, the environment must be secure, emphasising the importance of collective efforts to address security challenges.
“The summit is not modelled after the World Economic Forum in Davos, but rather a novel, homegrown African original idea.
“We’re focusing this administration on preferring homegrown solutions to our problem, instead of copying and pasting what exists in other regions.”
The minister said that the Alliance of Sahel States (AES) are invited for the summit.