President Bio, Tony Elumelu Champion Investment, Industrialisation and Job Creation in West Africa

Sierra Leone’s President, Dr. Julius Maada Bio, and Nigerian business magnate, Tony O. Elumelu, have reaffirmed their commitment to promoting investment, industrialisation and job creation across West Africa ahead of the inaugural West Africa Integration and Investment Summit (WAIIS), scheduled for 17–18 November 2026 in Sierra Leone.

The commitment emerged during a high-level meeting in Lagos, Nigeria, where President Bio participated in the inaugural physical meeting of the WAIIS Private Sector Advisory Board, hosted by Elumelu, Chairman of Heirs Holdings and co-chair of the summit.

According to a press release issued on Wednesday, 7 October 2026, the meeting brought together prominent African business leaders, investors and representatives of major financial institutions to explore practical strategies for accelerating regional economic integration and mobilising investment for key development sectors.

Discussions focused on four priority areas: energy trade and industrialisation, strategic minerals, agribusiness and digital transformation.

Addressing participants, President Bio stressed that West Africa’s economic potential must be translated into tangible development outcomes. He noted that the region’s natural resources and consumer market of more than 400 million people presented significant opportunities for investment, industrial expansion and employment generation.

However, he cautioned that these advantages would yield limited benefits without practical implementation, stronger partnerships and coordinated regional action.

“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 President emphasised that regional integration should extend beyond policy discussions to the establishment of productive enterprises, competitive industries and cross-border value chains capable of creating sustainable wealth.

“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 urged members of the Advisory Board to intensify preparations for the November summit by identifying investment-ready projects, engaging prospective financiers and recommending policy measures that could remove barriers to business development.

He said the summit should serve as a practical platform for connecting investors with viable commercial opportunities and ensuring that discussions on regional integration produce measurable economic benefits.

Tony Elumelu, who co-chairs the summit with President Bio, underscored the importance of private sector leadership in driving Africa’s economic transformation. He called for stronger collaboration among African businesses to combine financial resources, technical expertise and entrepreneurial experience in developing industries capable of competing globally.

Elumelu also expressed readiness to work with leading financial institutions, including the Africa Finance Corporation, African Export-Import Bank (Afreximbank), United Bank for Africa and Ecobank, to mobilise financing for priority development projects.

His position aligns with his advocacy for Africapitalism, which promotes private sector investment in strategic industries as a means of generating economic growth, creating employment and improving livelihoods.

He maintained that West Africa possessed the resources and capabilities needed to achieve greater prosperity, but required stronger cooperation and a more determined approach to implementation.

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

Elumelu, however, stressed that private investment depended on a supportive business environment. He called on Governments across the region to strengthen regulatory systems, maintain consistent policies and improve security to give investors the confidence to commit capital over the long term.

Lagos State Governor, Babajide Sanwo-Olu, also highlighted the importance of industrial expansion and the movement of goods and services across national borders. He maintained that regional economic integration would require practical policies that enable businesses to operate efficiently, attract investment and expand production.

Participants further emphasised the need to develop regional value chains in agriculture, mineral processing, energy and technology. Greater cooperation in these sectors, they observed, could reduce dependence on imported goods, encourage local manufacturing and strengthen West Africa’s competitiveness in international markets.

The summit’s Private Sector Advisory Board comprises influential African business executives and financial leaders, including 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 inaugural WAIIS will take place 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 bring together Heads of State, senior Government officials, international investors, financial institutions and leading business executives to explore investment opportunities and strengthen economic partnerships across the sub-region.

For Sierra Leone, hosting the summit presents an opportunity to attract investor interest, strengthen commercial partnerships and position the country as a platform for regional economic cooperation.

As preparations advance, the initiative’s success will ultimately depend on its ability to convert commitments into actual investments, operational businesses and sustainable employment opportunities. The November summit is therefore expected to provide an important test of West Africa’s determination to translate its economic potential into tangible benefits for businesses, workers and communities across the region.