Nigeria’s Foreign Affairs Minister, Yusuf Maitama Tuggar, stated that the country and some members of the Economic Community of West African States (ECOWAS) have the rare mineral resources that were reported by an American publication that China has the monopoly, and vital to some industries on which the future will be built.
Tuggar made this known at the West Africa Economic Summit (WAES) held from the 20th to 21st of June 2025, in Abuja, and attended by other Heads of State, Foreign Affairs Ministers, Members of the Senate, Top Government Functionaries, Traditional Rulers, and Members of the Diplomatic Corps, among others.
At the event, the Minister affirmed, “We could think of similar examples of what we can offer in the international market where we can do better, for each other in the region. Bring that investment, bring that local processing, and let’s see our transport, economic infrastructure, and other building blocks for prosperity grow.”
He called on member countries of the region to see the future and take control of their destiny, by demonstrating that West Africa can deliver the states, where government, industries, and other stakeholders can meet and make deals without shivering from one summit to another.
He further asserted that West Africa, which has the skill, talent, and critical mass that no individual state alone can match, for centuries, was an equal partner in international trade but was left behind during the industrial revolution and partners of development that reduced its comparative advantage, leaving it to struggle for fair market access and finance.
According to Tuggar, the market competition among countries of the region is healthy, and it is in the interest of all to sustain it and make it positive for all stakeholders.
” West Africa can and should be part of this revolution,” the Minister stated.
Tuggar added, “As governments, states, and the region, we need to do more to make it easy and activities within the informal sector bring with it the economies of scale, and other efficiencies that will accelerate growth, and help our entrepreneurs.” He said this is already happening.
The Honourable Minister averred that President Bola Ahmed Tinubu had the vision of developing the summit when he took over as ECOWAS chairman in 2023, due to his background in the private sector and public life, and as a well-travelled Nigerian, he was convinced of the urgency of the moment.