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WAES 2025: Deepen Regional Integration for Shared Prosperity – Amb Odumegwu-Ojukwu

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By Gloria Ikibah 

The Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu has made a strong call for deeper regional integration, economic cooperation, and collective action toward shared prosperity across the subregion.

Ambassador Odumegwu-Ojukwu stated this at the official opening of the  inaugural West Africa Economic Summit (WAES) on Friday in Abuja.

She emphasised the historical, cultural, and economic ties that bind the nations of West Africa together.

“As West Africans, we share a deep-rooted demographic and economic history shaped by regional mobility and trade. Our common commodities and interconnected markets have long fostered an environment of free trade and cultural exchange.

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“This legacy has forged a shared identity, one that drives collective progress and is strengthened through unified diplomacy. This gathering is a landmark event. It is a bold affirmation of our region’s collective will to deepen economic cooperation, unlock our immense trade and investment potential and craft a future of shared prosperity for the peoples of West Africa.
 
“WAES is more than a summit. It is a platform of purpose where policy meets enterprise, where leadership engages innovation and where West Africa speaks with one voice on the promise of regional integration. Our nations have long engaged not merely as neighbours but as sisters, as brothers and comrades, bound by a unique thread that extends across a vast diaspora uniquely positioning us as leaders on the global stage”.

The two-day summit brings together government officials, business leaders, policy experts, and innovators to explore strategies for economic development, industrial expansion, and regional cooperation. With a focus on key sectors such as banking, digital services, agriculture, and natural resources, WAES aims to position West Africa as a unified economic force.

The Minister highlighted that the region’s industries have already demonstrated strong performance and scalability, and  Nigeria’s commitment to inclusive, region-wide collaboration, transcending political or institutional divides.

“West Africa’s industries have already proven their strength through significant achievements in banking, digital services, agriculture and extractives. We are not here to debate how to build industries. We have shown that we can lead and scale sectors to meet regional demands and enrich global markets.

“The task before us now is to safeguard our regional block and drive the expansion of our industries through farsighted integration policies and reforms that reinforce our economic sovereignty. 

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“This initiative reflects Nigeria’s steadfast commitment to inclusive region-wide collaboration, bringing together all West African countries irrespective of institutional alignments to confront shared challenges and seize the opportunities that await us. Let this summit not be just another meeting but a turning point, a moment of collective resolve to translate potential into prosperity.”

The Minister encouraged participants to think boldly and work towards tangible solutions that will drive trade and investment across the subregion.

In her keynote address, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, emphasised that trade within Africa goes beyond just boosting economies—it is a key step toward building stronger, more connected markets across West Africa.

According to the Minister, the summit is a sign that West African countries are serious about shaping their own future. She noted that the gathering shows a shared willingness among nations in the region to invest in their goals, set clear priorities, and work together with focus.

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She added that by strengthening trade links between African countries, the region can build stronger industries and create better chances for businesses and communities to grow.

Ahe said: “The time for truly integrated West African marketplace is now. With a population of over 400 million people and a shared history of enterprise and resilience, West Africa holds enormous untapped potential. Yet, we must acknowledge a fundamental truth.
 
“Our businesses cannot scale if our markets remain fragmented. While acknowledging the modest gains of the ECOWAS Trade Liberalization Scheme (ETLS) and ECOWAS Common External Tariff, much is still desired to enhance regional trade among our countries.
 
“The vision of one market is not simply an ideal, it is a necessity. It means breaking down the tariff and non-tariff barriers that continue to choke the movement of goods, services and people”.
 
Dr Oduwole noted out that trade between African countries makes up just over 20% of the continent’s total trade, which is still far behind regions like Asia and Europe, where the figures are around 58% and 67% respectively.

She also noted that trade within West Africa remains below 10 percent , despite shared borders, common languages, long-standing efforts at regional integration, and initiatives like the ECOWAS Trade Liberalisation Scheme (ETLS) and the ECOWAS Court.

“Achieving one market requires harmonising product standards to unlock cross-border supply chains, aligning customs procedures to reduce delays and corruption, and investing in digital platforms for predictable and paperless trade processes.
 
“Today, West African businesses, especially MSMEs, still face high costs at the border, inconsistent duties and bureaucracy, especially on goods that do not qualify under the ETLS.
 
“Nigeria has been fully committed to ETLS and the ECOWAS Common External Tariff, by working with member states and neighbors to accelerate implementation of preferential tariff regimes on the African continental free trade area,” she said.

The summit is expected to run from June 21 to 22 with the theme: theme:  “Unlocking Trade and Investment Opportunities in the Region”

continue over the coming days with a series of high-level panels, bilateral meetings, and private sector engagements aimed at charting a new course for economic growth in West Africa.

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APC sets May 25 deadline for 2027 primary elections results submission

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The All Progressives Congress has ordered all Primary Election Committees to submit reports and result sheets from its 2027 primaries by Monday, May 25, 2026.

The directive was announced in a statement issued May 24 by APC National Publicity Secretary Felix Morka. It covers governorship, senatorial, House of Representatives, and state assembly primaries.

The party said submissions for legislative bye-election reports will open on May 30, 2026.

National Organising Secretary Sulaiman Muhammad Argungu signed the notice and urged committees to ensure documents are submitted promptly and accurately.

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APC said sticking to the deadlines is critical for transparency and credibility in its internal electoral process ahead of the 2027 general elections.

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2027: Ogbeide-Ihama hails Tinubu’s reemergence as APC presidential flag bearer

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Edo South Senatorial District All Progressives Congress APC Senate flag bearer, Hon Omoregie Ogbeide-Ihama has hailed the reemergence of Bola Tinubu as APC presidential candidate in the 2027 general elections.

Ogbeide-Ihama in a congratulatory message he personally signed hailed President TInubu describing him as the iroko tree that provides shades for all.

Recall that Tinubu was declared winner of the keenly contested APC Presidential Primary, held at the Eagle Square in Abuja, said is truly the arrowhead of politics in Nigeria, adding that as one of the movers and shakers of APC from day one his victory did not come as a surprise.

He stressed that the emergence of Senator Tinubu was a result of dint of hard work, and that the votes that gave him victory was a clear manifestation of his general acceptance.

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Ogbeide-Ihama noted that Tinubu is truly a political caterpillar that pilots his affairs without rancour with his massive shoulders warehousing all and sundry to the admiration of his political adversaries.

” I hail you my Excellency as you have proven it again that definitely you can take Nigeria to the next level.

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Just in: Oil Falls With Brent Below $100 Per Barrel On Hopes Of US-Iran Hormuz Deal

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The price of North Sea Brent crude and West Texas Intermediate slipped close to five percent to $99.41 and $92.49 a barrel, respectively.

The United States and Iran appear closer than ever to a deal that would end the war that has ravaged the Middle East since late February, sending energy prices soaring and stoking global inflation.

But sticking points in their negotiations have tempered hopes of a swift resolution to restore the transit of oil and gas through the Strait of Hormuz.

US President Donald Trump said on Sunday he had informed US negotiators “not to rush into a deal”.

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“The negotiations are proceeding in an orderly and constructive manner, and I have informed my representatives not to rush into a deal in that time is on our side,” a post to Trump’s official Truth Social account said.

Iran’s Tasnim news agency said that, based on their information, key clauses of a possible agreement remained unresolved.

One of the main sticking points has been whether Tehran is willing to hand over its stockpile of highly enriched uranium.

The release of Iran’s frozen assets held under longstanding US sanctions and whether Lebanon, repeatedly targeted by Israeli strikes, will be included in any peace deal are also key issues.

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Markets across Asia climbed in early trade on hopes that Washington and Tehran will be able to overcome these hurdles.

Tokyo soared more than three percent in early trade on Monday, while Hong Kong and Seoul were closed for public holidays.

Shanghai inched upwards, with Taipei, Manila, Bangkok, Jakarta, Singapore, Sydney, and Wellington also climbing.

Kuala Lumpur was down 0.1 percent.

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“The weekend news flow has once again focused on the prospects for a negotiated deal between the US and Iran,” said Chris Weston, head of research at Pepperstone.

“According to reports from Donald Trump, a memorandum of understanding has been ‘largely negotiated’, with details to be announced at some stage soon, although there appears to be limited urgency,” Weston said.

Investors will also be keeping an eye on how the US Federal Reserve and its new chief, Kevin Warsh, react to Personal Consumption Expenditures (PCE) data this week, as well as European inflation metrics.

“The inflation story remains central to the entire setup,” said SPI Asset Management analyst Stephen Innes.

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“Investors will receive another critical read on Thursday with the release of the Personal Consumption Expenditures index, the Federal Reserve’s preferred inflation gauge.

“After several hotter-than-expected consumer and producer inflation reports earlier this month, markets are increasingly concerned that elevated oil prices and supply disruptions tied to the Middle East conflict are beginning to seep into the broader inflation pipeline.”

The conflict erupted after the United States and Israel attacked Iran on February 28, and the Islamic Republic responded with missile and drone attacks across the region.

The United States and Iran have observed a ceasefire since April 8 while mediators push for a negotiated settlement, although Tehran has imposed controls on Gulf shipping and Washington has blockaded Iran’s ports.

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Currency dealers monitor exchange rates as an electronic screen shows the prices of WTI (L), Brent crude (C), and Dubai crude (R) in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on March 13, 2026. (Photo by Jung Yeon-je / AFP)

Key Figures At Around 0215 GMT

Brent North Sea Crude: DOWN 3.99 per cent at $99.41 a barrel

West Texas Intermediate: DOWN 4.25 per cent at $92.49 a barrel

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Tokyo – Nikkei 225: UP 3.2 per cent at 65,358.97

Shanghai – Composite: UP 0.3 per cent at 4123.89

Hong Kong – Hang Seng Index: UP 0.9 percent at 25,606.03 (close)

Euro/dollar: UP at 1.1640 from 1.1608 on Friday

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Pound/dollar: UP at $1.3480 from $1.3441

Dollar/yen: DOWN at 158.86 from 159.13 yen

Euro/pound: DOWN at 86.35 from 86.36 pence

New York – DOW: UP 0.6 per cent at 50,579,70 (close)

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New York – S&P 500: UP 0.4 per cent at 7,473.47 (close)

New York – Nasdaq: UP 0.2 per cent at 26,343.97 (close)

London – FTSE 100: UP 0.2 per cent at 10,466.26 (close)

Paris – CAC 40: UP 0.4 per cent at 8,115.75 (close)

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Frankfurt – DAX 30: UP 1.2 per cent at 24,888.56 (close)

AFP

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