The Treaty of Lagos was signed by fifteen West African nations, marking a pivotal moment in regional collaboration and economic strategy. The involved countries included Nigeria, Ghana, Senegal, Ivory Coast, and others, all aiming to address the economic and political challenges that arose post-colonial rule. Initially, the focus was primarily on fostering trade among member states through the removal of trade barriers and tariffs, thereby facilitating a more interconnected economic region. The establishment of ECOWAS was also influenced by the global trends of regional integrations, as seen in Europe and other parts of the world, indicating a shift towards cooperative over competitive economic practices.

The objectives of ECOWAS encompassed not only economic integration but also social and political cooperation among member states. This was envisioned as a way to enhance regional security, promote peace and stability, and facilitate development policies aimed at achieving collective growth. The initial goals underscored the urgency of collective action in the face of common challenges, including poverty, unemployment, and lack of infrastructure, which were prevalent across the region.

Over the subsequent decades, ECOWAS evolved to address not just economic issues, but also political conflicts and humanitarian crises by deploying peacekeeping forces and mediating in regional disputes. The creation of ECOWAS set the foundation for ongoing efforts towards greater unity and collaboration in West Africa, leading to various initiatives aimed at improving the lives of people within its member states and enhancing the region's global economic standing.