Nigeria has reaffirmed its support for the gradual implementation of a single West African currency known as the Eco.
The planned single currency has been in motion for years but has been hit with multiple delays; the latest implementation target is set for 2027.
The country also pledged unwavering commitment to regional integration, democratic governance, peace, security and sustainable development across West Africa, at the 69th Ordinary Session of the Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS) held in Sierra Leone.
Representing President Bola Tinubu at the meeting, Vice President Kashim Shettima underscored Nigeria’s continued support for the implementation of the ECOWAS Compact for the Future of Regional Integration.
He described it as a strategic framework for building a more resilient, prosperous, inclusive and people-centred community.
The Vice President commended the government and people of Sierra Leone for hosting the summit and congratulated President Julius Maada Bio on the successful completion of his tenure as Chairman of the ECOWAS Authority of Heads of State and Government.
He also lauded the commissioning of the Julius Maada Bio International Conference Centre, describing it as a significant contribution to regional diplomacy and cooperation.
Nigeria reaffirmed its support for deeper economic integration through expanded intra-regional trade, industrialisation, infrastructure connectivity, investment promotion, food security and the gradual implementation of the Eco single currency.
The Vice President stressed that regional prosperity depends on removing barriers to trade, facilitating the free movement of persons, goods and services, and creating an enabling environment for businesses and investors.
On peace and security, Nigeria reiterated its commitment to constitutional governance, the rule of law and zero tolerance for unconstitutional changes of government.
The Vice President emphasised that sustainable development can only thrive in an atmosphere of peace and stability and reaffirmed Nigeria’s support for strengthening the ECOWAS Standby Force, enhancing intelligence sharing, counter-terrorism cooperation and preventive diplomacy across the region.
He also highlighted the importance of digital transformation, innovation, science and technology in accelerating regional economic growth, while advocating greater investment in women and youth as critical drivers of West Africa’s development.
He further called for stronger ECOWAS institutions founded on transparency, accountability, efficiency and sustainable financing to enhance public confidence and improve the implementation of regional decisions.
Recognising the evolving global geopolitical landscape, Nigeria reaffirmed its commitment to preserving the unity and relevance of ECOWAS through dialogue, solidarity and constructive engagement with all member states.
The Vice President urged regional leaders to remain steadfast in advancing a shared vision of a peaceful, integrated and prosperous West Africa.