The Economic Community of West African States (ECOWAS) has projected that Nigeria could emerge as the world’s fifth-largest economy within the next 50 years if current regional trade growth and economic reforms are sustained.
The prediction was made during the bloc’s 2026 parliamentary session held in Abuja, where ECOWAS officials highlighted the long-term economic potential of West Africa.
Speaking at the session, Dr. Kalilou Sylla, ECOWAS Commissioner for Economic Affairs and Agriculture, said the region is undergoing a significant economic transformation driven by deeper regional integration and expanding intra-African trade.
According to Sylla, Nigeria’s future economic growth will depend more on strengthening trade relations within West Africa than relying heavily on Western markets.
“It is not the American or English markets that will let the Nigerian market grow, but the sub-regional markets,” he told lawmakers during the session.
Sylla also predicted that Ghana and Côte d’Ivoire could rank among the world’s top 15 economies within the next 25 years.
He further suggested that Côte d’Ivoire could eventually surpass France economically if current growth trends continue.
The ECOWAS official noted that regional institutions have struggled to match the pace of economic cooperation already taking place among businesses and citizens across member states.
He pointed to growing intra-regional trade as evidence that economic integration within West Africa is steadily advancing.
According to Sylla, trade among ECOWAS member states has doubled to 40 per cent over the past four years despite political instability, border disputes, and currency-related challenges affecting parts of the region.
