Key points
- Nigeria has endorsed the West Africa Integration and Investment Summit (WAIIS-2026) as a flagship ECOWAS initiative.
- The summit is expected to mobilise private investment and strengthen regional value chains.
- Nigeria called for stronger financial discipline within ECOWAS institutions.
- The government also renewed its commitment to recovering Africa’s cultural heritage.
Main story
Nigeria has thrown its weight behind plans to establish the West Africa Integration and Investment Summit (WAIIS-2026) as a flagship platform for driving investment and economic integration across the ECOWAS region.
The commitment was reaffirmed during the 96th Ordinary Session of the ECOWAS Council of Ministers in Freetown, Sierra Leone, where the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, is leading Nigeria’s delegation.
According to a statement issued by the Ministry of Foreign Affairs, Enikanolaiye welcomed the initiative, describing it as an opportunity to attract private capital, deepen regional value chains and channel investment into key sectors of the West African economy.
He emphasised that the success of the summit would depend largely on strong private sector participation, saying business-led investments would deliver greater economic benefits across member states.
The minister also commended the ECOWAS Commission for presenting its 2026 Interim Report on the State of the Community and acknowledged the contributions of the outgoing Commission President to the bloc’s regional integration agenda.
On the financial management of the regional body, Enikanolaiye noted improvements in revenue mobilisation during the first half of 2026 but urged ECOWAS institutions to strengthen budget implementation, enforce fiscal discipline and make more efficient use of available resources.
He further called for cost-saving measures to cushion the impact of inflation, rising operational expenses and broader economic pressures affecting member states.
Beyond economic matters, the minister reaffirmed Nigeria’s commitment to the recovery of Africa’s cultural heritage, highlighting the country’s efforts to facilitate the return of artefacts from overseas. He noted that Switzerland recently returned 23 artefacts to Nigeria and urged ECOWAS to adopt a coordinated regional approach to restitution and cultural property protection.
The issues
ECOWAS is seeking new strategies to stimulate regional trade, attract investment and strengthen economic cooperation as member states grapple with inflation, fiscal pressures and slower economic growth. Greater private sector participation is increasingly viewed as critical to achieving these objectives.
What’s being said
“The summit should be driven largely by the private sector to maximise its impact on regional development.” — Amb. Sola Enikanolaiye, Minister of State for Foreign Affairs
What’s next
ECOWAS member states are expected to advance preparations for WAIIS-2026 while continuing discussions on financial reforms, regional investment initiatives and the implementation of the bloc’s action plan on the restitution of cultural property.
Bottom line
Nigeria is positioning itself behind deeper regional economic integration, advocating stronger private sector participation, prudent financial management and greater cooperation on preserving Africa’s cultural heritage.
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