Nigeria Projected to Become Fifth Largest Economy Globally, Says ECOWAS Official
An official of the Economic Community of West African States (ECOWAS) has projected a major economic transformation for the region, saying Nigeria could emerge as the world’s fifth most powerful economy within the next 50 years.
Dr. Kalilou Sylla, ECOWAS Commissioner for Economic Affairs and Agriculture, made the remarks during the 2026 First Ordinary Session of the ECOWAS Parliament in Abuja.
He said forecasts from the United Nations and other global academic studies suggest a significant shift in global economic rankings, with West African countries expected to rise steadily over the coming decades.
According to him, Ghana and Côte d’Ivoire could also rank among the world’s 15 richest economies within 25 years, while Côte d’Ivoire may eventually surpass France in economic strength within 70 years — a projection that would place it ahead of one of Europe’s largest economies.
Calls for stronger regional integration
Despite the optimistic outlook, Sylla warned that ECOWAS institutions are not evolving fast enough to match the pace of economic activity and integration already happening among citizens and businesses in the region.
“We are working very far from the ECOWAS citizens; the people are ahead, and we as community institutions are lagging behind,” he said.
He stressed that Nigeria’s long-term economic success would depend more on stronger regional trade ties than on reliance on Western markets.
“It is not the American or English markets that will let the Nigerian market grow, but the sub-regional markets,” he added.
Nigeria urged to strengthen regional policy
Sylla called on Nigeria to develop a clearer and more strategic economic policy for West Africa, especially in the areas of cross-border trade and market access.
“If Nigeria does not establish a clear policy for West Africa, nothing will change,” he said. “We cannot be the fifth most powerful country in the world in fifty years without having a clear economic interest for West Africa regarding the transfer of goods.”
He also criticised existing barriers within the regional market, noting that despite Nigeria’s dominant economic position in West Africa, access to its markets remains challenging for neighbouring countries.
Trade within ECOWAS on the rise
Sylla noted that intra-regional trade within ECOWAS has increased significantly, rising to about 40 per cent in the past four years. He described this as evidence that deeper economic integration is possible if existing challenges are addressed.
“That means it is possible. We can move faster, but we are not yet there,” he said.
The ECOWAS Parliament session, held from May 4 to 17 in Abuja, focused on regional governance, economic cooperation, and trade integration amid ongoing concerns over political instability, currency pressures, and slowing global growth across West Africa.
