Nigeria’s Minister of Foreign Affairs, Yusuf Maitama Tuggar, says Nigeria and some other ECOWAS member states possess rare minerals that are essential to the industries of the future—minerals often believed to be under the monopoly of China.
Tuggar made the declaration at the West Africa Economic Summit (WAES) held in Abuja from June 20 to 21, 2025. The high-level summit brought together heads of state, foreign ministers, senators, diplomats, traditional rulers, and other stakeholders to discuss regional economic integration and investment.
Referencing a recent American publication that highlighted China’s control over key rare minerals, Tuggar stated that West Africa also holds a significant share of these critical resources. He stressed that the region must begin to leverage its mineral wealth for strategic development and industrial transformation.
“We could think of similar examples of what we can offer in the international market where we can do better for each other in the region,” Tuggar said. “Bring that investment, bring that local processing, and let’s see our transport, economic infrastructure, and other building blocks for prosperity grow.”
The minister challenged West African countries to take control of their destiny, urging regional collaboration that goes beyond talk. He said West Africa must demonstrate that it can serve as a platform where governments, industries, and other stakeholders meet and seal productive deals without relying solely on international summits.
Tuggar recalled that the region had once been a strong force in global trade, particularly during pre-industrial times, but was sidelined during the industrial revolution. He attributed this marginalisation to reduced comparative advantage and limited access to global markets and finance.
He argued that West Africa now has the skills, talent, and critical mass to reclaim its position on the global economic map—something no single country in the region can achieve alone.
Tuggar described the growing competition among countries in the region as healthy, adding that such rivalry should be harnessed for collective growth and not fractured into zero-sum politics.
“West Africa can and should be part of this revolution,” he declared.
The minister also stressed the importance of supporting the informal sector, noting that it is already delivering economies of scale and operational efficiency. He urged governments to do more to remove barriers and accelerate growth for local entrepreneurs.
Tuggar said the idea for the summit was first conceived by President Bola Ahmed Tinubu when he assumed the chairmanship of ECOWAS in 2023. He described Tinubu as a visionary with both public and private sector experience who understood the urgency of repositioning West Africa for economic leadership.
