ECOWAS Building. Photo: ECOWAS
The Economic Community of West African States has reaffirmed its commitment to launching the long-awaited single regional currency, the ECO, in 2027, describing it as a major step towards deeper economic integration, stronger regional trade and sustainable growth across West Africa.
The decision was one of the major outcomes of the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government held on Sunday in Lungi, Sierra Leone, under the chairmanship of Sierra Leonean President Julius Maada Bio.
In a final communiqué issued on Tuesday, following the end of the summit, the leaders said ECOWAS economies remained resilient despite global economic challenges and projected a favourable outlook for 2026, supported by declining inflation, lower public debt-to-GDP ratios and a widening current account surplus, although fiscal deficits remain a concern.
On the single currency programme, the Authority declared that “the Authority reiterates its firm commitment to the launch of the ECO in 2027 as a key instrument for deepening regional economic integration and promoting sustainable, inclusive and resilient growth within the Community.”
According to the communiqué, the ECO will initially be adopted by member states that meet the agreed convergence criteria, while countries yet to qualify will receive support to enable them join the regional currency at a later stage.
The Authority welcomed the registration of the name “ECO” with the African Intellectual Property Organisation and directed the Commission to secure trademark registration with other regional and international intellectual property bodies.
Beyond the currency programme, expressing concern over worsening insecurity in the Sahel and Lake Chad Basin, the Authority condemned attacks by terrorist groups and endorsed the revised roadmap for activating the ECOWAS Counterterrorism Brigade, with full operational capability expected by July 2027.
Member states were urged to clear outstanding Community Levy arrears earmarked for financing the regional counterterrorism force.
The communiqué specifically “strongly condemns the increasing spate of banditry, kidnappings and abductions of school children, particularly in Northern Nigeria.”
It also “expresses its solidarity with the people of the Federal Republic of Nigeria and commends President Bola Ahmed TINUBU for the swift actions taken to secure the release of victims and the measures put in place to combat the menace.”
The Authority also highlighted worsening humanitarian conditions caused by conflict, terrorism, displacement, climate-related disasters and food insecurity, directing the Commission to strengthen reg support for voluntary return of migrants from North Africa
On relations with the Alliance of Sahel States, ECOWAS extended the mandate of Chief Negotiator Dr. Lansana Kouyaté until December 2026 and reaffirmed that negotiations with Burkina Faso, Mali and Niger would continue only as a unified bloc.
The leaders also raised concerns over food insecurity and rising fertiliser prices affecting agricultural productivity across parts of the region. They welcomed measures taken by member states to cushion the impact of the fertiliser crisis and called for accelerated implementation of the ECOWAS Rice Agenda and Regional Rice Roadmap to reduce food imports and strengthen regional food sovereignty.
The Authority reaffirmed its commitment to the ECOWAS Protocol on Free Movement of Persons, Right of Residence and Establishment, stressing the need to preserve regional mobility, facilitate cross-border trade and strengthen economic cooperation. It also said ongoing engagements with the Alliance of Sahel States should safeguard regional movement and economic exchanges.
ECOWAS strongly condemned continuing xenophobic attacks against Africans in South Africa, particularly West Africans, urging South African authorities to protect foreign nationals and permanently address the problem. It also backed Ghana’s proposal to place the issue before the African Union Assembly.
On trade, the summit warned that increasing bilateral agreements by individual member states could weaken the ECOWAS Customs Union and directed the Commission to coordinate common regional positions during international negotiations.
To improve regional competitiveness, the Authority instructed the Commission to develop investment-ready infrastructure projects in transport, energy, digital connectivity and water capable of attracting financing from development institutions and private investors.
The leaders welcomed the signing of the Inter-Governmental Agreement on the African Atlantic Gas Pipeline, describing it as a strategic project that would enhance energy security, industrialisation, connectivity and economic integration.
They also commended cooperation between ECOWAS member states and Morocco in advancing the project.
On a of air transport across West Africa, applauding Côte d’Ivoire as the only member state to have removed applicable acalled on development finance institutions to support investments in regional a
The Authority endorsed major digital reforms, including the Revised Supplementary Act on the Protection of Personal Data, additional regional instruments on cybersecurity, digital governance, electronic communications and open data, as well as the establishment of a Regional Cybersecurity Coordination Mechanism.
The summit also adopted the Presidential Declaration on Advancing Gender Parity in Political Representation and encouraged member states to strengthen measures that increase women’s participation in political and public decision-making.
On peace and security, ECOWAS acknowledged progress in democratic governance but expressed concern over terrorism, political instability and humanitarian crises across the region.
The Authority urged Guinea-Bissau’s transition authorities to ensure transparent and inclusive constitutional and electoral processes, respect human rights, release detained political figures and work towards restoring constitutional order. Senegal was appointed facilitator to support dialogue in the country.
The leaders commended the peaceful conduct of elections in Benin, Guinea, Cabo Verde and Côte d’Ivoire and directed the Commission to continue supporting member states preparing for elections later this year and in early 2027.
The leaders thanked development partners for supporting regional integration and paid special tribute to China for constructing and donating the new ECOWAS headquarters in Abuja, describing it as “a landmark contribution and a demonstration of solidarity and friendship.”
The summit endorsed appointments to key ECOWAS institutions, accepted Nigeria’s request for an additional two weeks to resolve issues relating to the Vice-President position allocated to the country, and appointed General Birame Diop of Senegal as President of the ECOWAS Commission for the 2026–2030 term.
The Authority endorsed Sierra Leone’s candidature for a seat on the International Court of Justice for the 2027–2036 term and elected Senegalese President Bassirou Diomaye Faye as the new Chairman of the ECOWAS Authority of Heads of State and Government for a one-year term.
Deborah Musa is a journalist at Punch Newspapers with five years of experience in journalism, including three years covering the judiciary. She focuses on producing accurate, well-researched reports that provide clarity on legal and justice-related issues. Deborah’s work reflects hands-on newsroom experience and editorial diligence.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: theeditor@punchng.com
Stay informed and ahead of the curve! Follow The Punch Newspaper on WhatsApp for real-time updates, breaking news, and exclusive content. Don’t miss a headline – join now!
Stay in the know—fast. Get instant alerts, breaking headlines, and exclusive stories with the Punch News App. Download now and never miss a beat.
