The Economic Community of West African States (ECOWAS) has appointed Africa’s foremost industrialist, Aliko Dangote, as the inaugural Chairperson of its newly created ECOWAS Business Council — a strategic platform designed to mobilise private sector investment and strengthen regional economic integration.
The announcement was made on Wednesday in Abuja by the President of the ECOWAS Commission, Omar Touray, during the 95th Ordinary Session of the ECOWAS Council of Ministers.
Touray explained that Dangote’s vast business footprint across West Africa and his track record in industrial development made him the most suitable choice to steer the council.
“Through the Council, we hope to bring private sector actors together to discuss economic integration and regional development. The Business Council will facilitate dialogue and partnership between the private sector, governments, and ECOWAS institutions,” he said.
Boosting Intra-Regional Investment
The establishment of the Business Council forms part of ECOWAS’s broader strategy to reduce reliance on foreign capital by encouraging intra-regional investment and private sector participation. Touray noted that with the right incentives, West Africa’s private sector could spearhead sustainable development across the region.
He also raised concerns about financial instability and infrastructure deficits, particularly the debts weighing down the West African Power Pool. The ECOWAS chief urged member states to support debt recovery efforts to safeguard the region’s electricity market and overall economic resilience.
Security, Governance, and Regional Stability
Beyond economic priorities, ECOWAS is advancing key objectives such as monetary integration, humanitarian response, and the activation of a regional standby force to combat terrorism and violent extremism.
Chair of the Council of Ministers and Sierra Leone’s Foreign Affairs Minister, Timothy Kabba, underscored the need for unity in addressing security, economic, and democratic challenges. He condemned recent coups and attempted coups in Guinea-Bissau and Benin Republic, warning that any action undermining constitutional governance threatens the foundation of the ECOWAS community.
Ambassador Bianca Odumegwu-Ojukwu, Nigeria’s Minister of State for Foreign Affairs, emphasized inclusive governance, youth empowerment, and expanded intra-regional trade. She noted that with over 400 million people — 65 percent under the age of 25 — West Africa must prioritize opportunities for its youthful population.
A New Era for ECOWAS at 50
As ECOWAS marks the 50th anniversary of the historic Treaty of Lagos, the Business Council is expected to become a central driver of private sector-led growth, improved regional trade, and greater resilience to global economic shocks.
Dangote’s leadership is anticipated to rally private investors toward regional development priorities, as ECOWAS navigates persistent security challenges and humanitarian crises in several member states, including Mali, Niger, Burkina Faso, and Nigeria.
The new council is envisioned as a platform that will align private investment with ECOWAS’s regional integration goals — charting a pathway toward economic self-reliance and sustainable development across West Africa.
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