Tuggar : Nigeria fully ready to host WAES, says summit will unlock many benefits

The Minister of Foreign Affairs, Yusuf Tuggar, says Nigeria is fully ready to host the upcoming West Africa Economic Summit (WAES), scheduled for June 20 and 21, 2025, at the Bola Ahmed Tinubu International Conference Centre in Abuja.

Speaking at a media briefing on Monday,  Tuggar affirmed the country’s preparedness to welcome participants from across the region.

He emphasized that the initiative, championed by President Bola  Tinubu, aims to deepen economic cooperation and enhance sustainable development in West Africa.

Tuggar noted that the forum will go beyond ECOWAS to engage a broader range of stakeholders.

“We’re 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,” he said.

“What we’re talking about is regional integration. What we’re doing with each other. How do we strengthen that so that we’re trading more,” he added.

The summit will spotlight investment-ready ventures and seek to create a conducive environment for private sector-led growth. According to Tuggar, the agenda includes a “deal room,” business forums, and cultural showcases that reflect the region’s diversity.

“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 stated.

He described the forum as a pivotal moment for regional economic transformation, emphasizing the role of private enterprise.

“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.

He stressed that the platform will serve as a meeting point for both public and private sector actors to collaborate on economic and security concerns.

“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,” he explained.

Tuggar also underscored the alignment of the summit’s goals with broader continental initiatives.

“The summit’s objectives align with the African Continental Free Trade Area (AfCFTA) ambitions, focusing on promoting intra-African trade by strengthening regional trade and investment,” he said.

He reiterated that the private sector will play a leading role in driving the initiative, with governments offering the support required to ensure success.

He further highlighted that peace and security remain vital for the region’s prosperity.

“For business to take place, to thrive, the environment must be secure,” he said, calling for joint efforts to address regional security threats.
Distancing the event from global models, Tuggar clarified that the summit is rooted in local innovation.

“The summit is not modelled after the World Economic Forum in Davos, but rather a novel, homegrown African original idea. We’re focusing this administration on preferring homegrown solutions to our problem, instead of copying and pasting what exists in other regions,” he said.

He confirmed that the Alliance of Sahel States (AES) has also been invited to participate in the summit.