Sierra Leone President Julius Maada Bio, Lagos State Governor Babajide Sanwo-Olu and business leader Tony Elumelu have called for stronger cooperation between governments and the private sector to accelerate investment, industrialisation and economic integration across West Africa.
The leaders made the call on Wednesday in Lagos during a media roundtable held as part of the West Africa Investment and Industrialisation Summit (WAIIS) Private Sector Advisory Board Principals’ Meeting.
The engagement was focused on mobilising private capital and developing investment-ready projects ahead of the WAIIS, scheduled to take place from November 16 to 18, 2026, in Freetown, Sierra Leone.
Bio, who is leading the summit, said West Africa had spent about five decades discussing economic integration without making sufficient progress towards establishing a truly unified regional market.
He said governments and businesses must now take concrete steps to build a common market capable of serving more than 400 million people.
“West Africa has been talking about economic integration for about 50 years, but we have not done enough to integrate our economies and create a consolidated market,” Bio said.
He added that he was mobilising the private sector across West Africa and internationally to give greater impetus to regional economic integration.
Sanwo-Olu Calls for African Production
Sanwo-Olu said Africa needed to prioritise the production of goods and services that could meet the needs of its own population while creating a larger market for businesses across the continent.
He said Lagos was prepared to work with other West African economies to unlock opportunities and create platforms capable of strengthening regional cooperation.
“Africa needs to build what Africans will use and what Africans will consume. That is the thinking behind this initiative,” the governor said.
Sanwo-Olu identified technology, agriculture and other productive sectors as areas with significant potential to deepen integration and generate employment and investment opportunities.
He said Lagos would continue working with political leaders, businesses and other stakeholders to turn regional economic ambitions into practical projects.
Elumelu Backs Private-Sector Leadership
Elumelu, co-chair of the summit and founder of the Tony Elumelu Foundation, said the private sector welcomed the commitment by political leaders to bring governments and businesses together.
He said stronger regional cooperation could create jobs for young people and expand opportunities for economic prosperity across West Africa.
“We are happy that our political leaders are beginning to bring all of us together so that we can make a much greater impact,” Elumelu said.
He added that the region had the resources, human capital and entrepreneurial capacity required to build a prosperous economy.
“We have what it takes. We have the resources, the people and the entrepreneurial spirit to build a prosperous West Africa,” he said.
Elumelu expressed optimism that the summit would usher in a new phase of economic cooperation, regional integration and shared prosperity.
$180bn Investment Pipeline
The WAIIS initiative comes as the Economic Community of West African States (ECOWAS) marks 50 years since its establishment in 1975.
The summit is expected to bring together heads of state, government ministers, investors, development finance institutions, business leaders and project owners.
Under the theme, “Powering Regional Integration through Energy Trade, Strategic Minerals, Agribusiness and Digital Transformation,” the summit will focus on developing bankable regional projects capable of attracting public and private investment.
The organisers said the initiative is targeting an investment pipeline of more than $180 billion across four major areas: energy trade and industrial growth; strategic minerals and natural resources; agribusiness and food systems; and digital transformation and connectivity.
The summit will also seek to strengthen energy access, food security, industrialisation and digital connectivity across the region.
Rather than focusing solely on investment announcements, WAIIS organisers said the initiative would track commitments and support projects through the WAIIS Secretariat from investment discussions to implementation.
The initiative is ultimately aimed at turning West Africa’s regional integration ambitions into concrete investments, stronger trade links and sustainable economic growth.
