Nigerian President Bola Tinubu on Tuesday advocated for stronger economic integration that prioritises Africa’s growth and industrialisation.
Speaking at the Africa-France Summit, co-hosted by Presidents Emmanuel Macron of France and William Ruto of Kenya, Tinubu highlighted Nigeria’s blue economy potential as a cornerstone of Africa’s development, noting that insecurity and uncertainty had long hindered investment opportunities within the maritime sector and broader ocean-based economic activities.
“Today, I make an explicit commitment: Nigeria will intensify regional coordination by offering our Deep Blue Project’s maritime intelligence infrastructure as a shared data hub for willing Gulf of Guinea states,” Tinubu said.
He said that interoperable systems, harmonised laws, and seamless joint enforcement must become operational realities.
He stressed that secure sea lanes, predictable regulations, and functional courts remained essential to unlocking private sector investments in Africa’s maritime economy.
The Nigerian President said that Nigeria would continue advancing climate-aligned port modernisation and digital transformation within the maritime sector.
Tinubu said that Africa should move from “sea blindness to ocean sovereignty,” describing the continent’s oceans as a shared heritage requiring collective protection, stronger institutions, legal frameworks, regional solidarity and coordinated maritime security enforcement mechanisms.
On international financial reforms, Tinubu said that Nigeria had consistently warned that the current global financial architecture risks irrelevance if it fails to address inequities affecting developing nations, particularly African economies seeking industrial growth and competitiveness.
He said Africa’s share of global manufacturing remained below two per cent because the continent exported raw materials while importing processed products, blaming policy constraints, illicit financial flows, and limited access to affordable industrial financing.
Tinubu said that Nigeria had implemented painful but necessary reforms, including fuel subsidy removal, exchange rate unification, and banking recapitalisation exceeding 45.5 billion dollars, aimed at restoring investor confidence and strengthening economic fundamentals.
He, however, lamented that African economies still faced punitive borrowing costs, noting that Nigeria would spend about 11.6 billion dollars on debt servicing in 2026, limiting investments in industrialisation and critical development sectors.
“How can an African manufacturer compete with competitors in Europe, Asia, or North America when borrowing costs in Africa are five to 10 times higher?” Tinubu asked during discussions on financing industrial development.
He maintained that Nigeria was not seeking charity but demanding a fair financial system that enables African countries to process minerals, refine crude oil, manufacture pharmaceuticals and compete effectively in global industrial and trade markets.
On migration, Tinubu said that African governments and development partners should address root causes by investing in infrastructure, agriculture, digital skills, energy access, and productive sectors capable of creating sustainable employment opportunities for young people.
He urged development partners to dedicate portions of Official Development Assistance toward programmes reducing desperation driving irregular migration, stressing that people with jobs, security, and hope rarely risk dangerous migration journeys across borders.
According to the statement issued by the Presidential Spokesperson, Mr Bayo Onanuga, on Tuesday, Tinubu also called for stronger African cooperation in building an effective global migration governance framework, supporting the African Union’s Migration Policy Framework and the Khartoum Process while seeking stronger links with global migration institutions.
The statement added that the President of France, at the Summit, advocated restructuring economic and political relations with Africa on the basis of equality and fairness, while African leaders emphasised improved access to affordable credit for development financing.
The Summit brought together leaders and top officials from over 30 countries across the continent. They included Antonio Guterres, Secretary-General of the United Nations, and Mahamoud Ali Youssouf, Chairman of the African Union Commission, Aliko Dangote, Abdulsamad Rabiu, Tony Elumelu and Aigboje Aig-Imoukhuede.
GIK/APA