ECOWAS Names Dangote as Inaugural Business Council Chair
By Naija Enquirer Staff
ECOWAS has appointed Nigerian industrialist Aliko Dangote as the pioneer Chair of its new Business Council — a strategic move aimed at boosting local investment, reviving stalled regional projects, and reducing dependence on foreign capital. The announcement was made during the 95th Ordinary Session of the ECOWAS Council of Ministers in Abuja.
A New Economic Lever for a Fragmented Region
The establishment of the Business Council reflects ECOWAS’ renewed commitment to private sector-driven development. ECOWAS Commission President Omar Alieu Touray noted that recent business forums in Nigeria, Senegal, and Côte d’Ivoire revealed rising interest among regional investors. However, he warned that unresolved challenges — including member states’ failure to clear debts owed to the West African Power Pool — continue to impede progress.
Analysts say Dangote’s appointment is a deliberate effort to leverage his influence, regional presence, and capital networks to restore investor confidence and accelerate economic integration. The move aligns with ECOWAS’ long-standing objective of deepening intra-regional trade and fostering economic self-reliance.
Political Instability Still Casting a Shadow
Despite the renewed focus on economic expansion, political upheavals remain a significant threat. Nigeria’s Minister of State for Foreign Affairs, Bianca Ojukwu, cautioned that unconstitutional transitions, coups, and governance crises could undermine ongoing regional efforts.
She emphasised that political instability discourages long-term investment and weakens the cohesion necessary for sustainable regional development.
Ministers Weigh Big Decisions on Integration
As discussions continue through Friday, ministers are reviewing major policy instruments expected to shape West Africa’s economic future. These include the annual growth programme, the Community Budget, updates on the ECOWAS Trade Liberalisation Scheme, and the long-delayed roadmap for a single regional currency.
The outcomes of these deliberations will be forwarded to the Authority of Heads of State and Government. Their decisions — balancing bold economic ambitions with political caution — will determine whether ECOWAS can deliver genuine progress at a time of heightened opportunity and regional tension.
