In a moment poised to shift the trajectory of West Africa’s economic destiny, President Bola Tinubu convened the maiden edition of the West Africa Economic Summit (WAES) 2025 in Abuja, setting the tone for a new era of regional collaboration and prosperity. In this piece, BOLAJI OGUNDELE writes about the focus and objectives of the WAES, considering the targets set by the Garki Declaration on Regional Prosperity and Integration, adopted at the end of the summit, as well as perspectives provided in various presentations at the event.
On a momentous weekend in June 2025, as the tenure of President Bola Ahmed Tinubu as Chairman of the ECOWAS Authority of Heads of State and Government drew to a close, West African leaders, policymakers, private sector innovators, and youth converged in Abuja for a defining regional dialogue—the inaugural West Africa Economic Summit (WAES). Billed as a landmark initiative to ignite a new era of prosperity in the region, WAES 2025 was more than a ceremonial gathering. It was a platform of purpose—a launch-pad for deepening regional economic integration, unlocking the power of intra-African trade, and laying the groundwork for shared growth in one of the world’s most demographically dynamic regions.
Held under the resonant theme “Unlocking Trade and Investment Opportunities in the Region,” the summit came at a pivotal moment in West Africa’s development trajectory. It also witnessed the adoption of the Garki Declaration on Regional Prosperity and Integration, a bold manifesto that enshrined collective commitments from West African nations to dismantle trade barriers, streamline movement across borders, mobilise indigenous investment, and tackle long-standing structural impediments that have held back the sub-region’s growth potential.
In his opening address, President Tinubu set the tone with a frank but optimistic vision. He described the summit as a call to action—not merely a gathering of intentions, but a forum to define outcomes. “No one country can do this alone,” Tinubu emphasised. “Our prosperity depends on regional supply chains, energy networks, and data frameworks. We must design them together—or they will collapse separately.”
At the heart of the summit’s deliberations was a single, powerful idea: that regional prosperity must be deliberate, inclusive, and institutionally embedded. The Garki Declaration, adopted unanimously by attending heads of state, ministers, and multilateral stakeholders, offered a roadmap for building a unified, competitive West Africa.
Among its key provisions was a commitment to raise intra-regional trade from its current 12–13 per cent to over 50 per cent within five years. This ambition, leaders agreed, would require sweeping reforms, including harmonised customs protocols, investment in infrastructure, and the deployment of digital systems that facilitate trade and cross-border economic activities. Also endorsed was the institutionalisation of WAES as a permanent forum—held biennially and rotating among member states—to foster sustained dialogue, partnerships, and policy alignment between governments and the private sector.
The declaration placed high emphasis on food sovereignty and agribusiness development as tools for both economic self-reliance and social stability. It called for enhanced investment in agro-processing, value chains, and climate-smart agriculture to reduce import dependence and boost export capabilities. Recognising the transformative potential of youth and women, the summit further pledged to remove structural barriers to economic participation, support entrepreneurship, and invest in job-rich industries such as digital services, manufacturing, and renewable energy.
From potential to performance
While President Tinubu’s speech may have served as the ceremonial opening, its content reverberated as a powerful economic doctrine. The Nigerian leader’s focus was unflinching: transform demographic advantage into development dividends or risk a reversal into instability. “Our region is blessed with youth and resources,” he noted. “But being resource-rich is not enough. We must become value-chain smart.”
Tinubu called for an end to the era of extractive economies where raw minerals are exported unprocessed. Instead, he urged a pivot to local manufacturing and regional industrial clusters that can generate jobs, enhance GDP, and position West Africa competitively within global markets.
He was equally clear-eyed about the limitations of fragmented national policies. “With intra-regional trade still below 10 per cent, we must coordinate or collapse,” he warned, underscoring the urgency of collective action on infrastructure, investment rules, digital payments, and data governance.
As a parting shot, Tinubu charged participants to move beyond pledges. “Let us emerge from this Summit with actionable outcomes,” he said, listing improved business climates, seamless border management, and an enabling environment for private sector-led development as non-negotiable imperatives.
Digital identity dividend
One of the summit’s most compelling presentations came from Engr. (Dr.) Abisoye Coker-Odusote, Director-General of Nigeria’s National Identity Management Commission (NIMC). In a sweeping keynote titled “Digital Identity and Trade in West Africa,” she spotlighted the foundational role of identity in unlocking the region’s full economic potential.
West Africa’s fragmented identity systems, she noted, pose a silent but powerful barrier to integration. “A unified digital identity system is not a luxury—it is an economic and developmental imperative,” Dr. Coker-Odusote said. “Without trusted, interoperable identity verification, cross-border trade remains expensive, opaque, and limited to the informal margins.”
With only 10–15 per cent of ECOWAS trade being intra-regional—and much of it informal—the need to formalise and digitize transactions was urgent. She presented Nigeria’s own progress as a case study: with over 120 million citizens enrolled under the National Identification Number (NIN) system, Nigeria is leading in Africa’s digital ID space. Strategic outreach, mobile enrolment kits, and gender-sensitive campaigns have helped expand coverage across rural and underserved areas. These efforts have elevated national capacity and now place Nigeria, alongside Ghana and Senegal, in a position to drive regional interoperability.
Dr. Coker-Odusote argued that harmonised digital ID infrastructure would reduce Know Your Customer (KYC) costs, enable mobile payments and digital wallets, expand access to financial services, and create a trusted ecosystem for SMEs and informal traders to scale across borders.
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“Identity is not just about being counted—it’s about being connected,” she declared. “It’s about the farmer in Tamale being able to sell grain to a retailer in Kano, or a trader in Monrovia accessing digital credit from a platform in Lagos. That connection builds economies—and communities.”
She made a passionate appeal for the creation of a West African Digital Identity Working Group under ECOWAS and WAEMU to set technical standards, synchronize protocols, and institutionalise digital trust across the region. Her five-point agenda called for collaboration among national governments, identity management agencies, regional economic institutions, the private sector, and civil society—each with a role in driving awareness, adoption, and system integration.
Expanding the economic toolkit
Another central theme of the summit was the importance of infrastructure and regional value chains. From energy interconnectivity and rail development to internet broadband and trade corridors, WAES leaders stressed that infrastructure is not merely a public works issue, but a platform for productivity and competitiveness.
Regional institutions like the ECOWAS Bank for Investment and Development (EBID) and the West African Monetary Institute (WAMI) outlined financing frameworks to support such investments, while encouraging partnerships with the private sector and sovereign wealth funds. Countries were urged to move beyond donor dependency by leveraging diaspora capital, green bonds, and blended finance models.
The diaspora, often seen through a remittance lens, was reframed as a strategic asset. With remittances to West Africa exceeding $40 billion annually, the summit underscored the need for structured engagement with diaspora entrepreneurs, investors, and technologists. Mechanisms to co-finance projects, crowd-source innovation, and tap into diasporic knowledge networks were proposed.
Non-negotiables of economic growth
While the summit’s core theme was economic integration, there was no overlooking the foundational role of peace, security, and democratic governance. The Garki Declaration acknowledged the inextricable link between stability and prosperity, pledging regional collaboration to address violent extremism, trans-border crime, and political instability.
President Tinubu, in his capacity as ECOWAS Chair, reiterated that no amount of trade facilitation could substitute for peace. “Security is the currency of investment,” he said. “Where there is no peace, there can be no prosperity.”
This sentiment was echoed in various breakout sessions that tackled the political economy of reform. Speakers noted that beyond policy prescriptions, what the region needs is policy continuity, credible institutions, and inclusive governance that earns public trust.
Unleashing untapped potential
WAES 2025 also made space for emerging voices. Youth leaders and female entrepreneurs were given a platform to share ideas, showcase innovations, and demand a more inclusive development paradigm. Special sessions on creative industries, fintech, agritech, and digital education drew attention to the talent and entrepreneurial energy bubbling across the region.
The Garki Declaration pledged support for youth-led enterprises, technology incubators, and skills development programmes tailored to future industries. Women’s inclusion was treated not as a moral imperative but as an economic strategy. Studies were cited showing that closing gender gaps in labour force participation could increase regional GDP by as much as 30%.
Implementation accountability
To ensure the summit does not become a one-off event, the Garki Declaration established a High-Level WAES Secretariat. Its mandate includes tracking implementation of Summit resolutions, facilitating investment dialogues, and monitoring reforms related to ease of doing business. The secretariat will also host a regional dashboard on trade flows, border efficiency, and private sector performance.
Critically, the secretariat is expected to serve as a neutral convening body, bridging the gap between political leadership and economic actors. Its biennial reporting cycle will ensure member states are held accountable to their commitments, while also providing space for innovation and course correction.
A new dawn, or another deferred dream?
As the curtains fell on WAES 2025, there was a palpable sense that something meaningful had been set in motion. From policy pronouncements to institutional innovations, the summit represented a turning point in how West Africa conceives of itself—not as a patchwork of national economies, but as a single, interconnected market with shared aspirations.
Still, the road ahead will not be easy. Legacy challenges of weak governance, infrastructure deficits, and capital flight remain. Political will, while abundant in speeches, must now translate into tangible reforms. But if the energy of Abuja’s Summit is anything to go by, there is a newfound resolve to act boldly and collectively.
As President Tinubu remarked in closing, “Let us not hand over our excuses to the next generation. Let us hand them opportunities. WAES is not just a summit. It is a movement.”
That movement has now begun. The challenge is to sustain it, scale it, and seed it into the institutions and economies of the region. If WAES 2025 becomes the catalyst it promises to be, the next decade could mark the long-awaited economic awakening of West Africa—borderless, enterprising, and proudly integrated.