Stakeholders at the West Africa Economic Summit (WAES) 2025 have highlighted persistent barriers to intra-regional trade, goods movement, and business facilitation, despite existing ECOWAS protocols. The summit, held at the Bola Ahmed Tinubu International Conference Centre, aims to foster partnerships and unlock investment opportunities across the region.
Nigeria’s Minister of State for Foreign Affairs, Bianca Ojukwu, emphasised President Tinubu’s efforts to implement policies supporting a “national single window” for trade. She noted the administration’s focus on “African solutions to African problems”, citing dwindling foreign aid and the need to harness diaspora and youth potential.
“We must digitalise, upskill our workforce, and stimulate productivity to align with current realities,” Ojukwu stated. She also addressed Nigerians in conflict zones, assuring that evacuation plans for citizens in Israel and Iran were underway under the government’s “citizen diplomacy” mandate.
Dr. Tony Luka Elumelu, ECOWAS Director for the Private Sector, stressed the pivotal role of SMEs in regional integration. He revealed plans for an ECOWAS Business Council, led by industrialist Aliko Dangote, to streamline investment flows and job creation.
“The private sector is the backbone of our economy. We’re finalising an investment code to boost local and foreign direct investment,” Elumelu said.
Abubakar Sulaiman, MD of Sterling Bank, urged governments to accelerate adoption of the West African Payment and Settlement System (WAPSS). He confirmed Sterling Bank’s integration into the Pan-African Payment System, with a public unveiling planned in coming days.
“Institutional reforms are key. Without them, cross-border trade will remain stifled,” Sulaiman warned during a high-level panel on AfCFTA implementation.
The event, themed “Unlocking Trade and Investment Opportunities”, featured keynote speeches, debates, and an exclusive West African art exhibition. Delegates included regional heads of state, ministers, and international organisations.
