To drive regional economic growth, ECOWAS appoints Aliko Dangote as pioneer chair of Business Council
Aliko Dangote
… aims at reducing the region’s dependence on foreign investment.
Abuja — The Economic Community of West African States (ECOWAS) has announced Africa’s business magnate, Aliko Dangote, as the pioneer Chairperson of its newly established ECOWAS Business Council, a strategic platform aimed at mobilising private sector investment and boosting economic integration across the region.
The announcement was made by the President of the ECOWAS Commission, Omar Touray, during the 95th Ordinary Session of the ECOWAS Council of Ministers held in Abuja on Wednesday.
Touray noted that Dangote’s extensive business experience across West Africa and Africa at large made him the ideal candidate to lead 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.
The initiative seeks to reduce the region’s dependence on foreign investment by encouraging intra-regional capital flow. Touray emphasized that private sector actors, if provided with the right incentives and opportunities, could lead regional development.
Financial stability and regional infrastructure remain central concerns for ECOWAS. Touray highlighted challenges facing the West African Power Pool, citing debts owed by national electricity companies as a threat to the regional electricity market. He called on member states to support debt recovery and strengthen economic resilience.
In addition to private sector mobilisation, the ECOWAS Commission is pursuing wider objectives, including regional monetary integration, humanitarian response, and the activation of a regional standby force to address terrorism and violent extremism.
Sierra Leone’s Foreign Affairs Minister and Chairperson of the ECOWAS Council of Ministers, Timothy Kabba, stressed the importance of regional cooperation in tackling security, economic, and democratic challenges. He urged member states to uphold constitutional governance and condemned recent coups and attempted coups in Guinea-Bissau and Benin Republic.
“Acts that undermine constitutional order and democratic governance threaten the very fabric of our community. Our swift and coordinated responses are a testament to our commitment to restoring stability and order,” Kabba said.
Ambassador Bianca Odumegwu-Ojukwu, Minister of State for Foreign Affairs, also highlighted the need for inclusive governance, deepening intra-regional trade, youth empowerment, and opportunities for the region’s over 400 million people, 65 percent of whom are under 25 years old.
ECOWAS, which marks the 50th anniversary of the Treaty of Lagos this year, is positioning the Business Council as a critical driver of private sector-led economic growth, intra-regional investment, and resilience against external economic shocks.
Dangote’s appointment is expected to galvanise private sector participation in regional development, while ECOWAS continues to confront political instability, security challenges, and humanitarian crises affecting several member states, including Mali, Niger, Burkina Faso, and Nigeria.
The ECOWAS Business Council under Dangote’s leadership will serve as a platform to align private investment with regional integration objectives, offering a pathway to economic self-sufficiency and sustainable development for West Africa.
