The Economic Community of West African States (ECOWAS) has reiterated its commitment to achieving a single currency as part of broader efforts to deepen regional integration.
Memounatou Ibrahim, Speaker of the ECOWAS Parliament, emphasised this during the opening ceremony of a Parliamentary seminar commemorating ECOWAS’ 50th Anniversary and 25th Anniversary of the ECOWAS Parliament.
BusinessDay reports that the event was held on Monday, at the Continental Hotel, Victoria Island, Lagos.
Ibrahim described the pursuit of a unified currency as a crucial step toward fostering economic growth and stability in West Africa.
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She highlighted the need for stronger collaboration among Member States to address regional challenges, saying: “We must work together to achieve lasting integration.”
Addressing the recent departure of Niger, Mali, and Burkina Faso from ECOWAS, Ibrahim acknowledged the potential impact on regional unity but re-assured stakeholders that the bloc is taking measures to mitigate setbacks.
“We will continue to engage in deeper dialogue with the departing nations and maintain bilateral relations with them,” she said.
She also underscored the importance of strengthening institutions, making them “responsive, inclusive, and effective,” while urging a renewed focus on economic integration as a pathway to a more prosperous West Africa.
Jibrin Barau, the first Deputy Speaker of the ECOWAS Parliament, expressed confidence in the seminar’s discussions, stating that they would yield positive results for the region.
He praised the dedication of parliamentarians on regional cooperation and policy harmonisation, emphasising that national parliaments play a key role in fostering unity and development.
Barau also commended Nigeria’s President Bola Tinubu and ECOWAS Chairman for his leadership in promoting regional stability, economic integration, and democratic governance, describing his commitment as a “beacon of inspiration for Member States.”
