Nigeria, ECOWAS Hold Rare Minerals Key to Global Future—Says Foreign Affairs Minister Yusuf Tuggar

 Nigeria, ECOWAS Hold Rare Minerals Key to Global Future—Says Foreign Affairs Minister Yusuf Tuggar

Abuja, Nigeria – June 23, 2025

Nigeria’s Minister of Foreign Affairs, Yusuf Maitama Tuggar, has revealed that Nigeria and several other West African nations possess rare mineral resources that are vital to the industries of the future—resources often presumed to be monopolized by China.

Tuggar made this disclosure at the West Africa Economic Summit (WAES), which held from June 20 to 21 in Abuja. The summit attracted regional leaders, foreign affairs ministers, senators, top government officials, traditional rulers, and members of the diplomatic corps, among others.

According to the Minister, recent reports from an American publication suggest that China holds a dominant grip on critical rare minerals. However, Tuggar asserted that West Africa has a significant share of those same resources, offering the region an opportunity to reclaim a strategic position in the global economic landscape.

“We must begin to recognize and utilize the strategic value of our mineral resources. Rather than merely exporting raw materials, we must bring in investment and establish local processing industries to unlock full value and drive regional growth,” Tuggar stated.

He emphasized the importance of infrastructure—such as transport systems and economic frameworks—that support industrialization and prosperity across the subregion.

Urging ECOWAS member states to take charge of their own economic destinies, the Minister called for a shift away from summit-driven rhetoric towards actionable, intra-regional partnerships that yield tangible development.

“West Africa has the talent, capacity, and scale to compete globally. For centuries, we were equal players in global trade. It was during the industrial revolution that we lost our comparative advantage. Now, it’s time to reposition ourselves for a fair share of the future economy,” Tuggar said.

He noted that competition among West African countries is natural and healthy, but it must be constructive and channeled towards mutual benefit and inclusive growth.

“West Africa can and should be part of this global industrial and technological revolution,” he affirmed.

The Minister also stressed the need to empower the informal sector, noting that it brings with it economies of scale and efficiencies that can accelerate regional economic transformation. He added that such trends are already beginning to emerge across the region.

Tuggar credited the vision for the economic summit to President Bola Ahmed Tinubu, who assumed the chairmanship of ECOWAS in 2023. Citing Tinubu’s background in the private sector and deep understanding of economic governance, the Minister said the Nigerian leader recognized the urgency of repositioning West Africa for sustainable growth and global relevance.

The summit concluded with renewed calls for regional collaboration, investment in value-added industries, and a stronger push toward economic self-determination among ECOWAS member states.