Chairman, Dangote Group, Alhaji Aliko Dangote, has been appointed pioneer Chairman, ECOWAS Business Council (EBC).

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

Touray said the decision to pick Dangote was motivated by his vast experience doing business in West African and across the African continent.

The EBC is an independent platform launched by ECOWAS member states to empower the private sector, boost regional trade, foster investment and drive economic integration by bridging the gap between businesses and policymakers across the subregion.

Touray noted that through the Council, ECOWAS aims to bring private sector actors together to discuss economic integration, regional development, and to facilitate dialogue and partnerships among private sector players, government agencies, and ECOWAS institutions.

“I am happy to note that already, the idea of promoting intra-regional investment is gaining traction in our Member States. This year alone, we have seen a number of Economic Investment Fora, such as the Forum Senegal Invest, West African Economic Summit in Nigeria and ‘Invest in District Savanes’ forum in Cote d’Ivoire.

“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.

Key issues slated for deliberation at the meeting include the annual work programme and budget of the community institutions, the financial situation of the community, the status of implementation of the community levy protocol, as well as reports from the Auditor General of ECOWAS Institutions and the Audit Committee.

In other news, the Economic Community of West African States (ECOWAS) has praised Nigeria’s swift intervention in helping to abort the attempted military takeover in the Benin Republic, saying the response should become the regional standard for safeguarding democratic governance.

Speaking in Abuja on Tuesday, at the opening of the 55th Ordinary Session of the ECOWAS Mediation and Security Council (MSC) at ministerial level, President of the ECOWAS Commission, Dr. Omar Alieu Touray, said Nigeria’s rapid deployment of support forces was instrumental in preventing the overthrow of President Patrice Talon.

Touray said the development reflects the seriousness of the political risk facing the region.

“Events of the last few weeks have shown the imperative of deep introspection on the future of our democracy and the urgent need to invest in the security of our community.

“For the speed and commitment shown, Nigeria deserves a standing ovation. This is what regional solidarity should look like if we are determined to protect democracy,” he said.