Firm calls for accelerated industrial revolution in W’Africa

DMG Events has called for an accelerated industrial revolution in West Africa aimed at promoting the economic prosperity of the countries in the sub-region.
Ahead of its West Africa Industrialisation, Manufacturing and Trade (West Africa – IMT) exhibition, Country Director, Nigeria and Portfolio Director, Africa, DMG events, Wemimo Oyelana, stated that industrialisation was necessary, given that the United Nations Industrial Development Organisation (UNIDO) had outlined Africa’s contribution to the global Gross Domestic Product (GDP) in 2024 which stood at three per cent, contributing only two per cent to the world’s manufacturing value.

In a statement, she noted that international investors continue to review opportunities within the region and over the last 12 months, the Ghanaian government signed a landmark $12 billion agreement with the TCP-UIC Consortium for the development of the Petroleum Hub Project, featuring three refineries and five petrochemical plants. 

“ENI pledged $10 billion to develop the Baleine field offshore Côte d’Ivoire. In June 2024, our government secured a $3 billion facility from Afreximbank to build an industrial park and invest in light manufacturing. The African Development Bank Group approved a $75 million loan to support the implementation of the Resource Mobilisation and Industrial Development Support Programme (PAMRDI-I) in Senegal,” she said.

West Africa – IMT Summit and Exhibition, scheduled to take place in Lagos from May 27 to 29 2025 with the theme; “Accelerating West Africa’s Sustainable Industrial Revolution for Economic Prosperity,” will bring together market leaders from around the globe to spark innovative discourse on developing partnerships to leverage resources endowments of African nations and the technological solutions of the developed countries.

“By fostering the discourse that is critical to developing the industrialisation and trade strategies for the region, and bringing companies together to drive business development efforts, West Africa IMT will be at the heart of supporting regional and international government and private sector stakeholders to spearhead a sustainable industrial revolution,” Oyelana stated.

She added that the summit aligns with the government and private sector players’ agenda, and devises solutions to barriers inhibiting the development of industries while showcasing the opportunities for regional and international collaboration and trade.