The Economic Community of West African States (ECOWAS) has appointed Nigerian industrialist, Aliko Dangote, as the pioneer Chairman of its newly established ECOWAS Business Council (EBC).

The President of the ECOWAS Commission, Dr. Omar Touray, announced this on Wednesday at the 95th Ordinary Session of the ECOWAS Council of Ministers in Abuja.

Touray said the creation of the council was part of efforts to strengthen financial stability, boost regional economic resilience and enhance private-sector participation in West Africa’s integration agenda.

He said Dangote was selected based on his extensive business experience across the sub-region and Africa.

“We are moving forward with the operationalisation of the ECOWAS Business Council. We have identified Alhaji Aliko Dangote to be the pioneer Chairperson of the Council in view of his vast experience doing business within our sub-region and across Africa,” he said.

According to him, the council will serve as a platform for dialogue between the private sector, member states and ECOWAS institutions, with the objective of mobilising intra-regional investment.

Touray noted that reducing dependence on foreign capital remained a key priority for the Commission.

“This appetite for intra-regional investment underscores the need to mobilise capital within our region to build our Community rather than wait for precarious foreign investments,” he stated.

On regional energy issues, the ECOWAS President said the West African Power Pool was experiencing operational challenges due to debts owed by national electricity companies, and urged member states to support recovery efforts.

He also highlighted ongoing initiatives on regional resilience, monetary integration and the activation of a regional standby force against terrorism.

Earlier, Sierra Leone’s Minister of Foreign Affairs and Chair of the Council of Ministers, Mr. Timothy Kabba, called for stronger cooperation to address security, economic and democratic challenges in the region.

Kabba said regional integration remained central to ECOWAS’ 50-year vision, emphasising the need for improved trade, transport and energy connectivity and full utilisation of the African Continental Free Trade Agreement (AfCFTA).

He condemned recent coups and attempted coups in West Africa, describing them as threats to constitutional order and regional stability. He urged greater investment in joint intelligence operations, peace and security initiatives and support for the ECOWAS Standby Force.

Nigeria’s Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, in her remarks, warned that political instability and prolonged transitions in some member states were undermining democratic gains and citizen confidence.

She stressed the need for inclusive political dialogue, credible transitions and stronger intra-regional trade and value-chain development.

Odumegwu-Ojukwu said the youth population, which constitutes about 65 per cent of the region’s 400 million people, depends on ECOWAS to drive development and create economic opportunities.

She said dossiers before the council touched on governance, economic integration, peace and security, agriculture, humanitarian response and institutional reforms.

West Africa continues to experience political and security challenges, including terrorism, violent extremism and organised crime. Several ECOWAS states are currently under military rule, while others face fragile transitions.