The Economic Community of West African States (ECOWAS) has unveiled steps to boost regional trade.
This is even as the bloc has appointed Nigeria’s industrialist, Aliko Dangote, Chairman of the Dangote Group, as the pioneer chairman of the ECOWAS Business Council (EBC).
The EBC is a platform designed to strengthen private sector engagement, boost regional trade, and drive West Africa’s economic integration.
Omar Touray, ECOWAS commission president, announced the billionaire’s selection at the opening ceremony of the 95th ordinary session of the ECOWAS council of ministers in Abuja on Wednesday.
Speaking at the event, Touray said the development comes as the bloc moves to operationalise its business council.
He said Dangote was chosen for his vast experience in doing business within the subregion and across Africa.
“I’m happy to report that Alhaji Aliko Dangote has accepted this regional role,” the commission president said.
“Through the council, we hope to bring the private sector actors around the table as we discuss economic integration and development of our region.
“In this regard, the business council will facilitate dialogue and partnership between the private sector, governments, and the ECOWAS institutions.”
Touray said the idea of promoting intra-regional investment is gaining traction among member states.
He listed the Forum Senegal Invest in Senegal, the West African Economic Summit in Nigeria, and the Invest in District Savanes forum in Cote d’Ivoire as a few examples.
Touray disclosed that the bloc has also received a proposal from Sierra Leone to organise its West Africa Economic Investment Summit.
The commission president said the appetite for intra-regional investment underscores the need to mobilise capital within the subregion and drive development , rather than waiting for foreign investment
He expressed confidence in Dangote’s capacity to lead the EBC in achieving its goals.
