The West Africa Summit Private Sector Advisory Board gathered in Lagos for its second meeting this year under the joint leadership of President Julius Maada Bio and Tony O. Elumelu. Governor Babajide Sanwo-Olu attended in person, showing Lagos State’s strong support for the regional integration initiative. All participants reaffirmed a shared goal to turn the region’s abundant assets into bankable investments, competitive industries and quality employment. The West Africa Summit will be held in Freetown in November, marking a decisive step toward concrete deals.
The meeting focused on four strategic pillars: energy trade and industrialisation, strategic minerals, agribusiness and digital transformation. Board members described each pillar as essential for building a resilient regional market that can attract both African and international investors. The West Africa Summit aims to convert these priorities into actionable projects that generate measurable economic outcomes for citizens. Participants agreed that coordinated action across the four pillars will strengthen the region’s competitive edge.
A detailed review revealed 170 project concepts were submitted, from which 26 viable initiatives were shortlisted across more than ten nations. These selected projects now represent a total value exceeding ten billion United States dollars, and organisers anticipate the portfolio will grow to fifteen billion dollars by the summit. Hon. Dr Kandeh Kolleh Yumkella, the summit’s special envoy, confirmed the expectation of a stronger final figure during the upcoming November gathering. The West Africa Summit will serve as the platform to present these projects to potential investors.
Samaila Zubairu, president of Africa Finance Corporation, noted that global trends in energy, food, minerals and demographics converge in Africa, creating a unique integration opportunity. He stressed the initiative is designed to endure beyond the conference, ensuring projects continue after the closing remarks. Oliver Alawuba, managing director of United Bank for Africa, emphasized Dangote Refinery as an example of domestic financing driving regional impact. UBA, operating across nine West African markets outside Nigeria, is prepared to mobilise capital for bankable ventures. The West Africa Summit will be the venue where these institutions align resources for shared growth.
Adewale Tinubu, chief executive of Oando PLC, praised President Bio leadership and noted the summit role in turning ambition into tangible economic progress. Apostle Folorunso Alakija, executive vice chair of FA Oil Limited, described the effort as a platform that converts potential into investment and measurable impact. Kudakwashe Matereke, director of regional operations at Afreximbank, explained that the bank allocates up to five million dollars per transaction for project preparation. During the West Africa Summit, each of these leaders will outline how their organisations will contribute to the regional agenda.
Board members emphasized that effective government action is essential to provide the policy certainty investors require for long‑term capital deployment. Governor Sanwo-Olu thanked the presidents and Mr. Elumelu for driving the initiative and underlined the importance of free movement of goods and services. He noted that creating a unified business environment will signal readiness to investors across Africa and beyond. The West Africa Summit aims to translate policy commitments into actual deals that generate jobs and prosperity for citizens.