(Dr. Kalilou Sylla. Photo by Business Week Ghana)
ECOWAS has projected that Nigeria could rise to become one of the world’s foremost economic powers over the next half-century, potentially claiming the fifth spot among the richest nations globally provided that current reform efforts are sustained and regional trade continues to expand.
The forecast was delivered during the ECOWAS 2026 parliamentary session in Abuja, where officials signaled that West Africa is entering a new and promising phase of economic transformation.
ECOWAS Commissioner for Economic Affairs and Agriculture, Dr Kalilou Sylla, stated that Nigeria’s long-term growth trajectory would hinge on deepening intra-regional trade ties and maintaining consistent economic reforms.
Sylla also offered bold projections for other West African economies, suggesting that Ghana and Côte d’Ivoire could break into the ranks of the world’s top 15 economies within 25 years, with Côte d’Ivoire potentially surpassing France in economic size over that period.
He emphasized that Nigeria’s growth engine would not be powered by Western markets, but by the strength of sub-regional trade within West Africa.
On that front, he noted encouraging progress, pointing out that intra-ECOWAS trade has doubled to 40 percent over the past four years, even in the face of persistent challenges such as political instability, border disputes, and currency pressures.
The projections come as Nigeria presses ahead with wide-ranging economic reforms under President Bola Tinubu, including the removal of the fuel subsidy and the liberalization of the currency measures that have triggered short-term inflation but are designed to lay the groundwork for lasting economic stability and growth.
