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Alhaji Aliko Dangote, Chairman of the Dangote Group, has been nominated by the Economic Community of West African States (ECOWAS) as the first Chairman of the recently formed ECOWAS Business Council (EBC).

The nomination was reportedly announced by Dr. Omar Touray, President of the ECOWAS Commission, at the 95th Ordinary Session of the ECOWAS Council of Ministers meeting on Wednesday in Abuja.

With the vital mission of promoting economic development and integration throughout the subregion, the EBC was founded as an autonomous, private sector-led platform.

According to Dr. Touray, the Nigerian millionaire was selected because of his “vast business experience,” which covers not just the ECOWAS subregion but the entire African continent.

He emphasized that rather than waiting for outside assistance, ECOWAS’s new focus on mobilizing regional capital is in line with the appointment.

The West African Economic Summit in Nigeria, the Forum Senegal Invest, and the “Invest in District Savanes” forum in Côte d’Ivoire were among the economic investment forums he mentioned, all of which were held in West Africa this year.

“This appetite for intra-regional investment underscores the necessity of mobilizing capital within our region to build our community rather than waiting for precarious foreign investments,” Touray stated.

“If given the proper incentives and opportunities, I am confident that our regional private sector actors can lead the way in the development of our community with the kind of investments we have seen from people like Alhaji Dangote.”

He stated that ECOWAS would convene business sector players to talk about regional development and economic integration through the EBC.

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