Nigeria Set To Hold West Africa Economic Summit .... "It Will Foster Regional Integration, Economic Cooperation; A Gateway For Growth". Says Tuggar

Amb. Yusuf Maitama Tuggar 
Foreign Affairs Minister

 

"It is a landmark event aimed at strengthening economic ties, unlocking investment opportunities, and promoting sustainable development across West Africa." Amb Tuggar 

..... "The summit's objectives aligns with the African Continental Free Trade Area (AfCFTA) ambitions, focusing on promoting intra-African trade by strengthening regional trade and investment."

 

The incoming West Africa Economic Summit is a new gateway for the continent. This was the assertion of the Honourable Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar during a media parley held in Conference Room of the Ministry of Foreign Affairs in Abuja on Monday.

According to Amb. Yusuf Tuggar, "the Summit is designed to foster regional integration and economic cooperation among member states.

"It is a landmark event aimed at strengthening economic ties, unlocking investment opportunities, and promoting sustainable development across West Africa." He stated 

"We are 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."

Amb. Tuggar stressed that the private sector will play a crucial role in driving integration and supporting governments. 

He restated the importance of regional cooperation, stressing that "what we are talking about is regional integration. What are we doing with each other; how do we strengthen that so that we are trading more?

He noted that "the summit's objectives aligns with the African Continental Free Trade Area (AfCFTA) ambitions, focusing on promoting intra-African trade by strengthening regional trade and investment."

"The event aims to unlock investment opportunities by identifying and supporting investment-ready projects. Furthermore, the summit seeks to foster sustainable development by encouraging inclusive economic growth and development."

The Minister highlighted the need for a secure environment for businesses to thrive. "For business to take place, to thrive, the environment must be secure, emphasizing the importance of collective efforts to address security challenges. 

"The summit will 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."

Amb. Yusuf Tuggar dismissed concerns that some countries in the region are not trading with Nigeria, citing examples of ongoing trade and investment between Nigeria and its neighbors, including those that have departed from ECOWAS. 

"We are still having the Nigeria-Niger Joint Commission that is headed by an Ambassador from this very building," he said, while also, highlighting the importance of regional cooperation and diplomacy."

"The Summit is not modeled after the World Economic Forum in Davos, but rather a novel, homegrown African original idea."

"We are focusing this administration on preferring homegrown solutions to our problem, instead of copying and pasting what exists in other regions."

"The event will feature a range of activities, including a deal room, business conferences, and cultural events showcasing the region's rich heritage.

"Overall, the West Africa Economic Summit promises to be a landmark event, driving regional integration, promoting economic cooperation, and fostering sustainable development in West Africa. 

"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." Tuggar said.