DMG Events has said there is a need to accelerate industrial revolution in West Africa, stressing that industrial progress is important for Nigeria, Ghana, Benin among others economic prosperity.

DMG Events also said industrialisation was necessary given that the United Nations Industrial Development Organisation, UNIDO, said Africa’s contribution to the global Gross Domestic Product, GDP, in 2024 stood at 3 per cent, contributing only 2 per cent to the world’s manufacturing value.

The firm, which noted that the West Africa Industrialisation, Manufacturing & Trade (West Africa – IMT) Summit and Exhibition scheduled to take place in Lagos, Nigeria from 27 – 29 May 2025, added that it would trigger a shift towards product valorisation and export to generate returns exceeding 10 times the original value.

DMG Events, in a statement, said Heads of State across West Africa have set industrialisation as the key priority, acknowledging it as the central catalyst for economic transformation and an avenue to take advantage of its abundance in natural resources including raw materials and human capital.

The statement reads: “With abundant natural resources, a young workforce, renewable energy potential, arable land, a growing middle-class consumer market, and a cost-competitive labour force, Africa has many of the key ingredients for industrial success. However, the region continues to grapple with the impact of climate change on agriculture, geopolitical tensions driving up energy and food prices and political uncertainties.

“Through effective reforms and the right policy measures, nations within the region are set to attract investors and create an enabling environment for business to thrive. The potential utilisation of advanced technologies for cleaner energy systems and green industrialisation could see African nations leapfrogging for a more rapid and efficient industrial revolution.

“The West Africa Industrialisation, Manufacturing & Trade (West Africa -IMT) Summit and Exhibition is a landmark initiative dedicated to unlocking West Africa’s full industrial potential.

“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.”