The Economic Community of West African States (ECOWAS) has appointed Alhaji Aliko Dangote, President of Dangote Group of companies, as its pioneer Chairman of ECOWAS Business Council (EBC).

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

The News Agency of Nigeria (NAN) reports that EBC is an independent platform by ECOWAS to empower the private sector, boost sub-regional trade, foster investment and drive economic integration.

The EBC is envisaged to bridge the gap between businesses and policymakers within the West African sub-region.

Touray explained that the choice of the Nigerian billionaire was based on his vast business experience, not just in the ECOWAS sub-region, but across the continent.

Touray said that the idea of promoting intra-regional investment was already gaining traction among ECOWAS Member States.

He cited some economic investment fora, such as the Forum Senegal Invest; West African Economic Summit in Nigeria; and ‘Invest in District Savanes’ forum in Côte d’Ivoire, which all took place in West Africa this year.

“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.

“I am confident that with the kind of investments we have seen from the likes of Alhaji Dangote, our regional private sector actors can lead the way in the development of our Community, if given the right incentives and opportunity,” he said.

The commission’s president said that through the EBC, ECOWAS would bring private sector actors together to discuss economic integration, and regional development.

The Council is also expected to facilitate dialogue and partnerships among private sector players, government agencies, and ECOWAS institutions, among others.