By Stella Azi
The Economic Community of West African States (ECOWAS) has thrown its weight behind the Africa Raw Materials Summit scheduled to hold in May 20 – 22, 2025 at the Continental Hotel, Abuja. This is a move that underscores the regional bloc’s commitment to promoting economic integration and industrialization in the continent of Africa.
The Director Private Sector, ECOWAS, Dr. Tony Elumelu made this commitment during a courtesy visit by the Director General Raw Materials Research and Development Council (RMRDC), Professor Nnanyelugo Martins Ike-Muonso, to ECOWAS Parliament held at Well Carlton Hotel, Asokoro, Abuja, on March 26, 2025.
The DG RMRDC visited the ECOWAS Parliament to intimate them and seek their support and collaboration towards the Africa Raw Materials Summit 2025, organized by the RMRDC which aims to bring together stakeholders from far and wide, to explore strategies for harnessing Africa’s raw materials and promoting raw materials value addition for economic growth and development.
Dr. Elumelu, who chaired the Parliament sitting, noted that the agenda of ECOWAS was to create and implement common policies for the good of ECOWAS nations; to enable the countries harmonize and harness resources for economic advancement of the continent, and to achieve this, collaboration is key.
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Emphasizing on the importance of the Summit, Dr. Elumelu said since it will bring together stakeholders to explore strategies for harnessing Africa’s raw materials for economic growth and development, “ I urged you to ensure SMEs in your countries are well represented at the Summit, this will be good for the Africa continent”.
Also speaking, the Director of Investment Promotion Agency of West Africa States (IPAWA) Dr Abayomi Salami noted that the goals of the Summit aligns with the objectives of IPAWA, which focuses on economic diversification, job creation, harnessing natural resources, and promoting the Africa Free Trade Zone.
According to him, the Summit’s goals also support the agenda of the President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu. To capitalize on this opportunity, ECOWAS will mobilize Small and Medium Enterprises (SMEs) from the 12 member countries to drive this agenda and promote economic growth and diversification, not only in Nigeria, but also across the continent of Africa.
Earlier, the DG RMRDC Prof. Ike-Muonso and his team had visited the Director General Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Charles Odii on a similar mission to acquaint him on the Africa Raw Materials Summit, and to seek partnership with the Agency.
During the visit, DG RMRDC lamented that though Nigeria is blessed with abundant raw materials resources, but because these resources are not properly harnessed, the economy is not recognized in committee of nations; even a nation like South Africa does not recognize the potential Nigeria holds.
RMRDC is promoting programmes to take the country out of this quagmire. One is the Value addition Bill before the National Assembly which will soon be passed into law; the other programme is the hosting of an African Raw Materials Summit in May, 2025.
Prof. Ike – Muonso pointed out that some key focus of the Summit include: Economic diversification and industrial growth, that is, exploring ways to reduce dependence on raw material exports and promote industrial development; Investment opportunities in raw materials processing and infrastructure, which involves showcasing investment opportunities in raw materials processing; and Infrastructure development and sustainable value-addition techniques and practices to enhance economic benefits.
He further pointed out that the summit is expected to feature panel discussions, exhibitions, investment forums, policy dialogues, and workshops on value addition and capacity development.
In his response, the DG SEDAN, Dr. Odii pledged full support to the Africa Raw Materials Summit, which he said, aligns with SMEDAN’s mission to foster the growth and development of small and medium-sized enterprises across Nigeria.
He acknowledged that by participating in the Summit, SMEs can tap into opportunities for growth, networking, and partnership-building.
With the backing of ECOWAS and SMEDAN, the Africa Raw Materials Summit 2025 is poised to make a significant impact on the raw materials SMES sector in Africa and beyond.
