According to ECOWAS Chairman President Bola Ahmed Tinubu, the organization is pooling $38 million to support small and medium-sized enterprises (SMEs) in its member states.
He discussed how the regional organization intended to use financial and commercial institutions to expand the award to Mauritania, the Central African Republic (CAR), Chad, and Cameroon.
Additionally, Tinubu announced that N140 million more will be given to SMEs that use solar power.
Speaking at the Sixth Mid-Year Coordination Meeting of the African Union (AU) in Accra, Ghana, the Nigerian leader highlighted the historic accomplishments of the Economic Community of West African States (ECOWAS) during the last several years.
He said: “To achieve sustainable electricity access within the ECOWAS and Sahel countries, we will provide a total grant of $38 million to SMEs in member states. An additional loan of $140 million will also be made available to the solar SMEs.
“Within the period under review, ECOWAS has supported experts from member states in international meetings and negotiations on environmental issues, including environmental governance. We provided support to our members in the implementation of the Paris Agreement and the establishment of a regional carbon market.
“With respect to food security, the ECOWAS Bank for Investment and Development (EBID) has approved the instruments to operationalize the Regional Fund for Agriculture and Food (RFAF). A regional food security was developed to achieve self-sufficiency in rice production.
“Furthermore, our support for pastoralism in the Sahel has targeted the improvement of animal health, with a record vaccination of over 490 million livestock. We have established common rules for controlling veterinary medicine products at borders.
“In addition, ECOWAS launched a project for Member States to access the Green Climate Fund. This will promote climate-smart agriculture through the use of technologies.”
President Tinubu emphasised that 13 states had ratified the AfCFTA agreement, while six states had ratified the World Trade Organization’s (WTO) Fisheries Subsidies Agreement.
In order to streamline regional trade, he also announced the operationalization of the ECOWAS Integrated System for the Management of Goods in Transit (SIGMAT) throughout the twelve member states.
Regarding the fight against terrorism, Tinubu announced that member states of the ECOWAS Counter Terrorism Humanitarian Response had contributed $4 million.
The West African Network of National Academies of Sciences, the African Forum for Research and Innovation, and the regional Academic Mobility Scheme were among the educational advancements that the ECOWAS chair also highlighted.
Regarding health, Tinubu mentioned the ECOWAS’s ongoing assistance for obstetric fistula sufferers, its support for female agribusiness entrepreneurs, and its emphasis on gender parity in the fields of education and the green economy.
According to a statement made by Ajuri Ngelale, the President’s Special Advisor on Media and Publicity, ECOWAS has set aside $9 million to support individuals of concern, such as refugees, internally displaced people, and asylum seekers.
Regarding energy, mining, and agriculture, President Tinubu stated that the ECOWAS-Regional Electricity Access Project (ECOREAP) is helping to advance electrification activities in Guinea Bissau, Mali, and The Gambia.
“It is also implementing the Regional Off-Grid Electricity Access Project (ROGEAP). Thirty-two Solar Off-Grid SMEs have been approved, including nine SMEs led by women. A total of $3 million will be disbursed to finance the SMEs. More than 400 SMEs in 13 countries were trained in 2023 and 2024.
Regarding other ECOWAS institutions, President Tinubu reported that the ECOWAS Community Court of Justice had considered fifteen new cases, convened thirty-three court sessions, and rendered eleven rulings. Additionally, the Sixth Legislature of the ECOWAS Parliament elected “the Right Honourable Maimunatu Ibrahim from Togo” as its first female president.
The President did concede, though, that the EU is facing a number of challenges, such as member state departure, terrorism, geopolitical rivalry, food hunger, climate change, and the dissemination of false and misleading information.
In order to preserve unity, he said, ECOWAS will hold more talks with Burkina Faso, Mali, and Niger. It will also call a special extra-ordinary summit to discuss the community’s future.
The statement added: “Finally, Your Excellences, I am happy to report that the ECOWAS Commission has assumed the rotating chairmanship of the Inter-REC platform since February. Earlier, the ECOWAS Commission hosted the East African Community (EAC) and the Intergovernmental Authority on Development (IGAD), to exchange views on various issues and review best practices.
The president declared, “We will keep working together with all AU regional communities and structures to improve our continental integration.
Ismail Omar Guelleh, the president of Djibouti, and Tinubu had a bilateral meeting outside of the AU gathering.
The significance of Nigeria’s leadership position in West Africa and the continent was underscored by President Guelleh.
He requested Nigeria’s assistance with issues related to development and shared difficulties in his nation.
Presidents Tinubu and Guelleh decided to keep collaborating to further their respective countries’ interests.
