Sierra Leone’s President, His Excellency Dr. Julius Maada Bio, has joined forces with prominent Nigerian businessman and Chairman of Heirs Holdings, Tony O. Elumelu, to strengthen private sector participation in West Africa’s economic development, with particular emphasis on attracting investment, expanding industrial production and creating employment opportunities across the sub-region.

The renewed commitment emerged from a high-level meeting held in Lagos, Nigeria, ahead of the inaugural West Africa Integration and Investment Summit (WAIIS), scheduled to take place in Sierra Leone from 17 to 18 November 2026.

According to a press release issued on Wednesday, 7 October 2026, the engagement brought together influential business executives, investors and representatives of major financial institutions to examine practical measures for accelerating regional economic integration and unlocking investment opportunities.

President Bio, who is the immediate past Chairman of the ECOWAS Authority of Heads of State and Government, attended the inaugural physical meeting of the WAIIS Private Sector Advisory Board, hosted by Tony Elumelu.

The discussions concentrated on four major sectors considered essential to West Africa’s economic transformation: energy trade and industrialization, strategic minerals, agribusiness and digital transformation.

Addressing participants, President Bio emphasized that West Africa possesses enormous economic resources and a consumer market exceeding 400 million people. However, he maintained that the region must move beyond recognizing its potential and begin implementing practical initiatives capable of delivering measurable economic benefits.

He explained that stronger collaboration between Governments, private investors and financial institutions would help establish competitive industries, improve cross-border trade and create sustainable employment opportunities, particularly for young people.

“We are partners in execution; let us transform ideas into partnerships, partnerships into investments and investments into lasting prosperity for our continent,” President Bio declared.

The Sierra Leonean leader further challenged business executives to consider regional integration as an opportunity to develop productive enterprises rather than merely a subject for policy discussions.

“But potential is not prosperity. Our task is to convert these advantages into productive enterprises, competitive industries, regional value chains, jobs and wealth,” he stated.

President Bio also outlined his expectations for the forthcoming summit, explaining that it should provide a practical platform for connecting investors with commercially viable projects and identifying solutions to challenges that have historically discouraged investment within the region.

He urged members of the Advisory Board to begin engaging potential investors, examining financing requirements and identifying policy interventions necessary to transform proposed investments into operational businesses.

Tony Elumelu, who co-chairs the summit alongside President Bio, welcomed the Sierra Leonean leader’s commitment to placing private enterprise at the centre of West Africa’s development strategy.

He stressed that African businesses must increasingly collaborate across national boundaries, combining financial resources, technical expertise and commercial experience to establish industries capable of competing internationally.

Tony Elumelu indicated his readiness to work with major financial institutions, including the Africa Finance Corporation, African Export-Import Bank (Afreximbank), United Bank for Africa (UBA) and Ecobank, to mobilize investment for priority development projects.

His position reflects his longstanding advocacy for Africapitalism, an economic philosophy that encourages African private sector investment in strategic industries as a means of generating economic growth and improving livelihoods.

According to Tony Elumelu, West Africa already possesses many of the resources required to achieve meaningful prosperity, but greater determination and cooperation are needed to translate those advantages into economic progress.

“This is consistent with our aspirations to create jobs for our young people,” he said, adding, “We have all it takes to be prosperous.”

However, the Nigerian businessman cautioned that private sector investment cannot flourish without supportive Government policies and a predictable business environment.

He called on political leaders to strengthen regulatory systems, guarantee policy consistency and improve security to encourage businesses and financial institutions to undertake long-term investments.

“Governments must provide the policy certainty, regulatory efficiency and security required to give investors the confidence to commit capital for the long term,” Tony Elumelu emphasized.

Lagos State Governor, Babajide Sanwo-Olu, who also participated in the engagement, highlighted the importance of industrial expansion and the unrestricted movement of goods and services in achieving meaningful economic integration.

He maintained that West African Governments have a responsibility to establish favourable conditions that would enable businesses to operate efficiently across borders, attract investment and expand production.

Governor Babajide Sanwo-Olu further observed that regional economic cooperation would remain limited unless political commitments were supported by practical policies that address obstacles confronting investors and businesses.

The meeting also reinforced the importance of strengthening regional value chains, particularly in agriculture, mineral processing, energy infrastructure and technology.

Participants recognized that greater cooperation in those sectors could reduce dependence on imported products, promote local manufacturing and improve the region’s competitiveness in international markets.

With the inaugural summit approaching, President Bio encouraged Advisory Board members to intensify preparations by identifying investment-ready projects, engaging prospective financiers and addressing outstanding challenges that could delay implementation.

He emphasized that the success of the initiative should ultimately be measured by the investments secured, businesses established and employment opportunities generated across participating countries.

The West Africa Integration and Investment Summit will be hosted at the Julius Maada Bio International Conference Centre in Lungi, Sierra Leone, on 17 and 18 November 2026.

The two-day gathering is expected to attract Heads of State, senior Government officials, international investors, financial institutions and leading business executives to discuss investment opportunities and strengthen economic partnerships.

The Private Sector Advisory Board includes several prominent African business and financial leaders, among them Aliko Dangote, Group President and Chief Executive of Dangote Group; Apostle Folorunso Alakija, Executive Vice Chairman of FA Limited; Samuel Dossou-Aworet, Founding Chairman of Petrolin Group and Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank.

Other members include Abdul Samad Rabiu, Chairman and Chief Executive Officer of BUA Group; Wale Tinubu, Group Chief Executive of Oando PLC; Samaila Zubairu, President and Chief Executive Officer of Africa Finance Corporation; Alain Ebobissé, Chief Executive Officer of Africa50; and Jean-Claude Kassi Brou, Governor of the Central Bank of West African States.

The Board also includes Paulo Gomes, Founder and Chairman of Orango Investment Corporation; Professor Benedict Okey Oramah, Chairman of Africa Trading Minerals; and Habib Yérim Sow, Group Chairman and Chief Executive Officer of Teyliom Group.

The involvement of these business leaders and financial institutions is expected to strengthen efforts to attract investment into major development projects while encouraging greater cooperation between the public and private sectors.

For Sierra Leone, hosting the summit represents an opportunity to position the country as an important destination for regional investment discussions and economic partnerships.

The initiative also places President Bio at the forefront of efforts to promote stronger economic cooperation among West African countries, with the ultimate objective of transforming the region’s natural resources, human capital and entrepreneurial potential into sustainable industries, increased trade and improved living standards.

As preparations continue for the November gathering, attention will increasingly focus on whether the commitments emerging from Lagos can translate into concrete investments and projects capable of delivering lasting economic benefits for West Africa. https://thecalabashnewspaper.com/archives/65249