Foreign affairs minister Yusuf Tuggar says the maiden West African Economic Summit is not just about policy but a practical solution to fast-track economic integration in the region.
Mr Tuggar said this on Tuesday during a media parley with journalists in Abuja while reaffirming Nigeria’s readiness to host the event scheduled for June 20-21.
According to him, the summit is an initiative of President Bola Tinubu aimed at advancing trade relations and promoting a market economy among small and medium-sized enterprises in the sub-region.
”It is with a deep sense of honour and responsibility that I announce Nigeria’s readiness to host the WAES 2025 under the chairmanship of President Tinubu.
”This important economic gathering is aimed at unlocking opportunities that abound in the region and to serve as a strategic platform for shaping the economic future of our region.
“WAES will convene heads of states, ministers, private sector leaders, development partners, as well as youth innovators from across West Africa and beyond,” stated Mr Tuggar.
The minister stated the summit would enhance the economic integration of West African countries through partnerships in the economic sector,, among other objectives.
He added that the summit would also foster cross-border trade relations in line with the Economic Community of West African States vision.
On sustaining the WAES initiative, Mr Tuggar noted that the success of the summit would drive future events, explaining that the whole idea was to partner the private sector in promoting regional integration.
He revealed the Nigerian government’s partnership with the United Nations Development Programme to extend WAES ownership to the entire sub-region.
”Recently, we launched a partnership with the UNDP. The whole idea is to create a template that is not going to be owned by Nigeria alone but by the entire region and all the countries that choose to adopt it and utilise it.
”The template will also strengthen the institutions, tackle the perennial challenges that are caused by misinformation/disinformation, and engage the civil society so that there is more understanding between government and the people. It will further strengthen the social contract,” Mr Tuggar explained.
