Nigeria to become world's 5th richest country in 50 years

Precious Omolu 13:01 - 19 May 2026

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An ECOWAS forecast predicts Nigeria could rise to become the world's fifth-largest economy by 2076, driven by regional trade and industrial growth.

ECOWAS says Nigeria could become the world’s fifth richest economy within 50 years if West African countries improve regional trade, economic integration and movement of goods.

An ECOWAS commissioner projected that Nigeria could become the world’s fifth most powerful economy within the next 50 years.
The official said stronger trade and economic integration within West Africa will be key to Nigeria’s future growth, not dependence on Western markets.
ECOWAS also revealed that regional trade within West Africa has grown significantly over the past four years despite economic and political challenges.

Nigeria may become the world’s fifth most powerful economy within the next 50 years if West Africa strengthens regional trade and economic integration, according to the Economic Community of West African States (ECOWAS).

The projection was made by Dr. Kalilou Sylla during the 2026 First Ordinary Session of the ECOWAS Parliament held in Abuja.

Dr Kalilou SYLLA, Head of the ECOWAS Department of Economic Affairs and Agriculture

Speaking at the session, Sylla said forecasts from the United Nations and several international universities pointed to major economic growth for some West African countries in the coming decades.

According to him, Nigeria is expected to rise into the top five global economies within half a century, while Ghana and Côte d’Ivoire could rank among the world’s 15 richest nations in the next 25 years.

He also claimed that Côte d’Ivoire could eventually overtake France economically within 70 years, though the statement is likely to attract debate given France’s current economic size and global influence.

The ECOWAS commissioner made the remarks while discussing regional integration, trade cooperation and the future of the West African economy ahead of an upcoming ECOWAS summit.

Despite the optimistic forecasts, Sylla criticised regional institutions for failing to move at the same pace as businesses and citizens already driving cross-border trade within West Africa.

President Bola Tinubu, at an AU gathering as ECOWAS's projection, says Nigeria could become the 5th-richest nation in the next 50 years

“We are working very far from the ECOWAS citizens; the people are ahead, and we as community institutions are lagging behind,” he said.

Sylla stressed that Nigeria’s economic future would depend more on stronger trade ties within West Africa than on markets in Europe or the United States.

“It is not the American or English markets that will let the Nigerian market grow, but the sub-regional markets,” he told lawmakers.

He also urged Nigerian authorities to develop a clearer economic strategy for the West African region, especially around movement of goods and market access.

“If Nigeria does not establish a clear policy for West Africa, nothing will change,” Sylla 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.”

The commissioner further complained about trade barriers across the region, noting that neighbouring countries still struggle to fully access the Nigerian market despite Nigeria’s dominant economic position in West Africa.

Nigeria currently remains Africa’s largest economy by Gross Domestic Product (GDP) and plays a major role in regional banking, exports and trade activities. Nigerian banks and companies have also expanded operations across several ECOWAS countries over the last decade.

Intra-regional trade within ECOWAS has surged to 40% over the last four years, proving that African markets, rather than Western ones, will be the primary drivers of Nigeria's expansion.

According to Sylla, intra-regional trade within ECOWAS has increased to about 40 percent over the past four years, showing that stronger economic integration in West Africa is possible.

“That means it is possible. We can move faster, but we are not yet there,” he said.

The ECOWAS Parliament session, which held from May 4 to May 17 in Abuja, focused on economic cooperation, governance and regional trade at a time many West African countries are battling inflation, political instability and pressure from slowing global economic growth.