Nigerian President Bola Ahmed Tinubu has used the Africa CEO Forum in Kigali, Rwanda, to strongly advocate for economic nationalism, regional integration and accelerated industrialisation across Africa.
Speaking at a presidential panel alongside Gabonese President Brice Clotaire Oligui Nguema, Tinubu argued that Africa can no longer remain a continent that exports raw materials while depending on foreign nations for manufacturing, refining and financial services.
He stressed that African countries must prioritise value addition to their natural resources rather than exporting them in raw form, insisting that the continent’s economic survival depends on building stronger local industries.
Tinubu declared that Africa must move away from dependency on external actors, calling for increased collaboration among African nations to strengthen trade, industrial capacity and economic resilience.
He also highlighted Nigeria’s support for domestic refining capacity, pointing to the Dangote refinery as an example of successful African-led industrial development. According to him, local refining is essential for energy security and economic stability in a population-rich country like Nigeria.
The president further explained that government support for such projects includes measures to protect them from foreign exchange volatility by enabling crude supply in local currency arrangements.
Tinubu urged African governments to adopt coordinated policies instead of operating in isolation, emphasizing that shared resources and cooperation are key to unlocking the continent’s economic potential.
He also called for greater investment in research, innovation and digital development, warning that Africa risks falling behind in global technological competition if it fails to prioritise human capital development.
The Nigerian leader encouraged African nations to reduce reliance on foreign funding and instead build stronger internal financial systems capable of supporting major infrastructure and industrial projects.
Gabon’s President Brice Oligui Nguema also backed deeper integration, citing Europe’s economic cooperation model as an example Africa could learn from, particularly in trade, aviation and industrial policy coordination.
Experts at the forum noted that Africa’s economic future increasingly depends on stronger regional cooperation, especially amid rising global competition for minerals, energy and digital infrastructure.
Analysts further warned that fragmented national approaches could weaken Africa’s bargaining power in global markets, especially under the African Continental Free Trade Area framework.
