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Tag: ECOWAS

Mali, Burkina Faso, Niger impose 0.5% levy on ECOWAS imports
News

Mali, Burkina Faso, Niger impose 0.5% levy on ECOWAS imports

Mali, Burkina Faso, and Niger have implemented a 0.5% levy on imported goods from Economic Community of West African States member nations, including Nigeria. Effective immediately, the levy is intended to finance their newly formed three-state union following their collective withdrawal from ECOWAS. The three West African nations, all governed by military juntas that seized […]

ECOWAS intensifies efforts to launch single currency by 2027
News

ECOWAS intensifies efforts to launch single currency by 2027

The Economic Community of West African States has reaffirmed its commitment to introducing a single regional currency, the Eco, by 2027. This resolve was highlighted during the 11th ECOWAS Convergence Council meeting in Abuja, where financial leaders gathered to strategize on accelerating the currency’s launch to strengthen economic integration and financial stability across the region. […]

News

ECOWAS finalizes $75m renewable energy facility, targets $19b rice investment

The Economic Community of West African States has finalized a $75 million framework for its Renewable Energy and Energy Efficiency Facility, aiming to boost sustainable energy across the region. Additionally, the bloc has emphasized the need for improved storage, milling, and mechanization in paddy production, projecting a $19 billion investment requirement to achieve these goals. […]

News

ECOWAS launches $380m electrification initiative for Nigerian schools, others

The Economic Community of West African States Commission has unveiled a significant initiative to invest $380 million aimed at electrifying public schools and health centers across 18 countries, including Nigeria, Benin, and Chad. This ambitious project seeks to tackle the persistent electricity access challenges faced by over 208 million people in the region, with a […]

ECOWAS launches $906,205 aid for 2022 flooded Nigerian communities
News

ECOWAS launches $906,205 aid for 2022 flooded Nigerian communities

The Economic Community of West African States has begun distributing its $906,205 (N1,449,928,000) aid to Nigerian communities severely impacted by the 2022 floods. This announcement was made in a statement published on ECOWAS’s website on Friday, August 2, 2024. The aid distribution was officially launched in Adamawa State, marking a significant step in ECOWAS’s commitment […]

News

African leaders must prioritise attracting investment to ECOWAS – Okonjo-Iweala

The Director General of the World Trade Organisation, Ngozi Okonjo-Iweala, has called on African leaders to attract investment, particularly in energy development, youth employment through agriculture and renewable energy, and infrastructural advancement. This was disclosed by Okonjo-Iweala at the Economic Community of West African States Investment Forum 2024, organised by the ECOWAS Bank for Investment […]

UBA vows to draw capital to ECOWAS mining industry
Banking

UBA vows to draw capital to ECOWAS mining industry

The Economic Community of West African States and United Bank for Africa Plc have committed to collaborating on projects that would bring in capital and foster sustainable growth for the mining and oil industries in the subregion. According to The PUNCH, the promise was made at the recently finished fourth ECOWAS Mining and Petroleum Forum, […]

Customs partners EU to streamline trade, documentation
News

EU delegation to embark on four-day visit to Nigeria

By Alex Omenye   The delegates from the Council of European Union’s Africa Working Group have initiated a four-day visit to Nigeria, landing in Abuja. Scheduled from 26th to 29th February 2024, their agenda encompasses discussions with Nigerian officials, governmental bodies, civil society organizations, and representatives from regional, international, and private sectors in both Abuja […]

Tony Elumelu to give speech at ECOWAS forum
News

Tony Elumelu to give speech at ECOWAS forum

It has been scheduled that the Chairman of United Bank for Africa, Tony Elumelu, will give the keynote lecture at the fourth ECOWAS Mining and Petroleum Forum in Cotonou, Benin Republic. According to The Punch, ECOWAS is offering a forum for participants in the ECOWAS mining and petroleum sectors, and is scheduled to take place […]

UBA vows to draw capital to ECOWAS mining industry
Business

ECOWAS, others encourage African goods at Trade fair

When friendly countries and the Economic Community of West African States come together in Lagos in September for the fourth edition of Ecofairs, the development of trade among West African nations will take front stage. According to the PUNCH, This was recently stated by Ecofairs’ Chief Executive Officer, Sylvester Riicolins, at the formal Ecofairs 2024 […]

Aviation ministry gets N40bn approval for NAVAID upgrade
Aviation

Nigeria-Niger Republic flights remain suspended – FG 

The Nigerian Airspace Management Agency played a role in the ongoing prohibition on aircraft travel between the two countries. The PUNCH reported that according to NAMA, exceptional flights, aircraft in a state of emergency, and over-flight aircraft using Nigerian airspace are among the approved exceptions to the embargo. General Abdourrahamane Tchiani succeeded Mohamed Bazoum, the legitimately […]

UBA vows to draw capital to ECOWAS mining industry
News

Mali, B’Faso, Niger to face exclusion from $702bn ECOWAS market

Mali, B’Faso, Niger to face exclusion from $702bn ECOWAS market Burkina Faso, Mali, and the Niger Republic are scheduled to withdraw from the $702 billion Economic Community of West African States, after their withdrawals. The PUNCH reported that this potential departure might increase the region’s already severe food insecurity and have unfavourable effects on already vulnerable […]