The Economic Community of West African States (ECOWAS) has named Africa’s leading industrialist, Aliko Dangote, as the pioneer Chairperson of its newly created ECOWAS Business Council.
ECOWAS Commission President, Omar Touray, announced the appointment at the 95th Ordinary Session of the Council of Ministers in Abuja, saying the move aims to boost private sector investment, strengthen financial stability, and enhance economic integration across the region.
Touray said the council will serve as a platform for dialogue between the private sector, governments, and ECOWAS institutions, adding that the region must rely more on intra-African capital rather than unstable foreign investment.
He also highlighted ongoing challenges, including debts undermining the West African Power Pool and broader threats to financial stability.
The two-day ministerial meeting also focused on security, political instability, and economic reforms.
Sierra Leone’s Foreign Affairs Minister and Chair of the Council, Timothy Kabba, urged member states to deepen cooperation to tackle terrorism, organised crime, and unconstitutional changes of government.
Nigeria’s Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, warned that prolonged transitions and governance deficits are eroding democratic gains and weakening regional cohesion.
She emphasised the need for stronger intra-regional trade, investment, and youth opportunities.
The session comes amid rising instability in West Africa, with multiple countries under military rule and recent coup attempts, including in Guinea-Bissau and Benin.
- FG to raise N1.23trn in four months to clear power sector debts - December 12, 2025
- Nigeria approves 28 firms to capture flared gas, targets $2bn investment - December 12, 2025
- China–Nigeria trade hits $20bn as envoy backs education support - December 12, 2025
