The announcement was made on Wednesday in Abuja during the opening of the 95th Ordinary Session of the ECOWAS Council of Ministers, where ECOWAS Commission President Dr. Omar Alieu Touray addressed member states.
The Economic Community of West African States (ECOWAS) has officially launched the ECOWAS Business Council, appointing Nigerian industrialist Alhaji Aliko Dangote as its inaugural chairman, a move aimed at strengthening private-sector involvement in regional economic integration.
The announcement was made on Wednesday in Abuja during the opening of the 95th Ordinary Session of the ECOWAS Council of Ministers, where ECOWAS Commission President Dr. Omar Alieu Touray addressed member states.
The ECOWAS Commission aims to curb the region’s dependence on foreign investment by promoting the flow of capital within West Africa.
Dr. Touray explained that Dangote was selected for his extensive experience and significant investment footprint across West Africa.
He described the Business Council as a platform for sustained dialogue and collaboration between the private sector, national governments, and ECOWAS institutions.
He expressed confidence that judging by the kind of investments made by Dangote, the private sector actors in West Africa “can lead the way in the development of our Community, if given the right incentives and opportunity”.
The Council is expected to promote intra-regional investment, mobilize capital from within West Africa, and support the Community’s broader objectives of economic integration and sustainable development.
Dangote is a Nigerian businessman known for his key roles in Dangote Group and Dangote Refinery.
Dangote is the founder and president/chief executive of the Dangote Group, which has been described as the largest conglomerate in West Africa.
According to the Group’s website, it currently has a presence in 17 African countries.
He is Africa’s richest individual, with an estimated net worth of $30.6 billion as of November 3, 2025, according to the Bloomberg Billionaires Index, and $26.2 billion according to Forbes, largely derived from his oil refinery, cement, and sugar ventures.