Economy

ECOWAS Heads of State Issue Communique After 59th Ordinary Session (Full Statement)

Published

5 years ago

June 23, 2021

Eric

FIFTY – NINTH ORDINARY SESSION OF THE AUTHORITY OF HEADS OF STATE AND GOVERNMENT 19 June 2021, Accra, Republic of Ghana

FINAL COMMUNIQUE

1. The Fifty-ninth Ordinary Session of the Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS) was held on 19 June 2021 in Accra, Republic of Ghana, under the chairmanship of H. E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana, and Chair of the Authority.

2. The following Heads of State or their duly mandated representatives participated in the Summit: H.E. Patrice Talon, President of the Republic of Benin; H.E. Roch Marc Christian Kabore, President of Burkina Faso; H.E. Jorge Carlos de Almeida Fonseca, President of the Republic of Cabo Verde; H.E. Alassane Ouattara, President of the Republic of Cote d’lvoire; H.E. Adama Barrow, President of the Republic of The Gambia; H.E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana;

H.E. Prof. Alpha Conde, President of the Republic of Guinea; H.E. Umaro Sissoco Embalo, President of the Republic of Guinea Bissau; H.E. Georges Manneh Weah, President of the Republic of Liberia; H.E. Muhammadu Buhari, President of the Federal Republic of Nigeria; H.E. Julius Maada Bio, President of the Republic of Sierra Leone; H.E. Faure Essozimna Gnassingbe, President of the Togolese Republic; H.E. Ouhoumoudou Mahamadou, Prime Minister and Head of Government of the Republic of Niger; H.E. Madam Aissata Tall Sall, Minister of Foreign Affairs and Senegalese Abroad of the Republic of Senegal.

3. The session was also attended by:
H.E. Jean-Claude Kassi Brou, President of ECOWAS Commission;
H.E. Louise Mushikiwabo, Secretary General of the Organisation Internationale de la Francophonie (OIF);
H.E. Akinwumi Adesina, President of the African Development Bank; H.E. Mahamat Saleh Annadif, Special Representative of the United Nations Secretary General for West Africa, and the Sahel (UNOWAS); H.E. Goodluck Ebele Jonathan, former President of the Federal Republic of Nigeria, and ECOWAS Mediator for Mali.

4. At the opening ceremony, a welcome statement was delivered by H.E. Jean-Claude Kassi Brou, President of ECOWAS Commission; and thereafter, H. E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana and Chair of the ECOWAS Authority of Heads of State and Government delivered the opening address.

5. Goodwill messages were also delivered by H.E. Louise MUSHIKIWABO,
Secretary General of the Organisation Internationale de la Francophonie, by H.E. Mahamat Saleh Annadif, Special Representative of the United Nations Secretary General and Head of the United Nations Office for West Africa and the Sahel (UNOWAS), and by H.E. Akinwumi Adesina, President of the African Development Bank.

6. The Heads of State and Government took note of the 2021 Interim Report of the President of the ECOWAS Commission, as well as the Reports of the 46th Ordinary Meeting of ECOWAS Mediation and Security Council and the 86th Ordinary Session of the ECOWAS Council of Ministers.

7. They commended the quality of the reports and the relevant recommendations contained therein.

8. Reaffirming their commitment to deepening the integration process in West Africa, the Heads of State and Government, after deliberations, endorsed the main recommendations contained in the different reports, and then considered the following specific issues:

A. COVID-19 SITUATION

9. The Authority took note of the Covid-19 situation in the region which reveals a stabilization of the situation resulting from efforts deployed by Member States and WAHO.

10. It took note of the vaccination in all Member Countries with vaccines provided by COVAX initiative and salute the recent decision of the G7 to provide additional vaccine to developing countries.

11. The Authority encourages the West Africa Health Organization to intensify its efforts regarding the mobilisation of partnership for the production of Anti-COVID Vaccines in the region and note the need to introduce biometric passport in the Region.

12. The Authority charges the President of The Commission to work with the Member States and WAHO on the modalities to accelerate the re-opening of land borders in a safe manner during the pandemic in line with the agreed ECOWAS Harmonised Guidelines for Free Movement of People and Goods during pandemics.

B. ON PEACE, SECURITY AND DEMOCRACY

13. The Authority reaffirms its commitment to the promotion of peace, security, and stability in the region as prerequisites for the economic integration and development of the region.

14. On the political situation in the region, the Authority reiterates its concerns over the crisis in Mali in the context of security challenges related to terrorist attacks and the Covid-19 Pandemic with its dire socio-economic impacts. The Authority welcomes the Report submitted by H.E. Goodluck Ebele Jonathan, the ECOWAS Special Envoy and Mediator to Mali, sequel to his mission to Mali from 8th to 9th June 2021 to engage stakeholders on the decisions taken by ECOWAS Authority during its Extraordinary Summit held on 30th May 2021 in Accra, Ghana.

15. The Authority takes note of the appointment of a civilian Prime Minister and the formation of a new Government.
16. It also takes note of the commitment of the Transition Authorities to respect the electoral timetable which includes the organisation of a Presidential Election in February 2022.

17. The Authority was also informed of the Monitoring Mechanism that will be put in place to ensure that the electoral timetable unveiled on 15th April 2021 are strictly adhered to. It instructs the President of the Commission to ensure effective functioning of the Mechanism and implementation of the measures contained therein.

18. The Authority noted the positive development in Mali and decides to remain seized of the political situation in Mali.

19. On electoral processes in the region, the Authority welcomes the successful conduct of presidential elections in Benin and Niger as well as the legislative elections in Cabo Verde and Cote d’Ivoire. The Authority extends its warmest congratulations to Their Excellencies Patrice Talon, President of the Republic of Benin, for his re-election to the highest public office of his country and Mohamed Bazoum for his election as President of the Republic of Niger and wishes them every success.

20. The Authority directs the President of the Commission to provide the necessary support to the Governments of Cabo Verde and the Gambia during the upcoming presidential elections.

21. On preventive diplomacy, the Authority welcomes the re-constitution and repositioning of the ECOWAS Council of the Wise to effectively support the ECOWAS Preventive Diplomacy and Mediation efforts in Member States. The Authority endorses the list of the Members of the Council of the Wise and takes note of the election of H.E. Goodluck Ebele Jonathan from Nigeria and Mrs. Saran Daraba from Guinea as Chair and Vice-Chairperson of the Council of the Wise. It directs the President of the Commission to provide the Council with the necessary support, including technical and administrative backstopping, to effectively execute their mandate.

22. On the security situation in the region, the Authority remains concerned with the security situation in the Region. The Authority reaffirms its determination to relentlessly combat the scourge of terrorism, and strongly condemns the recurrence of terrorist attacks in frontline countries, namely Burkina Faso, Mali, Niger, and Nigeria. It expresses solidarity with the affected Member States and populations.

23. The Authority reiterates its urgent appeals to Member States to expedite payment of their voluntary contributions to the Fund dedicated for the implementation of the 2020 – 2024 Action Plan for the eradication of terrorism in the Region. It directs the ECOWAS Commission to strengthen resource mobilization efforts, including taking advantage of the appointments by the Authority of H. E. Mahamadou Issoufou, former President of the Republic of Niger and H.E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana as champions of the resource mobilization for the Plan of Action.

24. The Authority expresses concern over the destabilising effect of the operations of mercenary groups from Libya and calls for a concerted international action aiming at urgently resolving this issue, involving the disarmament of the mercenary groups.

25. The Authority expresses the need to enhance the optimization of synergies among the various security, defence, and intelligence agencies across ECOWAS region in order to facilitate swift and appropriate responses to existing and emerging threats. To this effect, the Authority endorses the establishment of a permanent Forum of West African National Security Advisers and directs the President of the Commission to ensure effective functioning and proper coordination and complementarity with the existing ECOWAS defence and security committees.

26. On maritime safety and security, the Authority reiterates its call on Member States to fully implement the measures adopted at national, regional, and continental levels to ensure maritime security and safety in the Gulf of Guinea. It directs the President of the Commission to take appropriate measures, in consultation with Member States, to fully operationalize the ECOWAS Maritime Security Architecture.

27. On the ECOWAS Mission in The Gambia (ECOMIG), the Authority directs to review the mandate and structure of ECOMIG to secure the upcoming December 2021 presidential elections and reaffirms its decision to modify the structure of ECOMIG after the Presidential election.

28. On the humanitarian situation, the Authority expressed concern over the worsening humanitarian situation in the region as a result of the terrorist attacks and effects of climate change. In that regard, the Authority reaffirms the need to strengthen ECOWAS humanitarian interventions and coordination with relevant humanitarian actors.

C. ON ECONOMIC PERFORMANCE AND IMPLEMENTATION OF REGIONAL INTEGRATION PROGRAMMES

29. After a negative growth of 0.8% in 2020 linked to the negative effects of COVID-19, the Conference welcomes the recovery announced in 2021 with a projected GDP increase of 3.5% in 2021. It urges the Member States to accelerate the implementation of economic stimulus programs and projects to support the ongoing recovery.

30. Authority notes the need to implement sizeable financing plans for the economies of the Region to support recovery. In this regard, it welcomes the various initiatives underway, particularly the Paris Summit for the Financing of African Economies, as well as the G20 initiatives relating to the restructuring of the debts of developing countries. It calls for the speedy implementation of these initiatives.

31. The Authority commends the African Development Bank Group (AfDB) for launching a facility to support African countries, including member countries of the ECOWAS region, to address the challenges of the COVID-19 pandemic, and also for its support to the G5 Sahel countries aiming at strengthening national health systems. It also commends the Bank for its support of $22 million to the West Africa Health Organization (WAH0).

32. The Authority takes note of the proposal of the AfDB to develop an African Financial Stability Mechanism to protect the continent against external and internal shocks, as well as a Security-Indexed Investment Bonds to leverage resources on the global capital markets to reinforce security in the ECOWAS region. Therefore, it calls on the AfDB to work with the ECOWAS Commission to develop the Investment Bonds.

33. Furthermore, the Authority calls on the AfDB to support quality health care infrastructure and develop pharmaceutical industries in ECOWAS countries, including the manufacture of vaccines.

D. CREATION OF A MONETARY UNION

34. The Authority commends the Ministerial Committee on the Single Currency Programme for its diligence in implementing the decisions taken at its 58th Ordinary Session held by video conference on 23rd January 2021. It decides:
a. to adopt the Convergence and Macroeconomic Stability Pact between ECOWAS Member States, whose convergence phase covers the period from 2022 to 2026 and the stability phase from 1st January 2027; and
b. Takes note of the roadmap for the launch of ECO by 2027 and charges the Ministerial Committee to continue to work to resolve all outstanding issues.

E. AFRICAN CONTINENTAL FREE TRADE AREA (AFCFTA)

35. The Authority took note of the progress in the ratification of the Agreement and urged remaining Member States to accelerate the ratification process of the AFCFTA. Furthermore, it directs the ECOWAS Commission to continue to coordinate common positions for the negotiations in order to ensure it builds on the acquis of ECOWAS.

F. BORDER ISSUES

36. The Authority congratulates the Republics of Guinea and Sierra Leone for the reopening of their land borders. The Authority further commends the spirit of solidarity and dialogue that led, at the Summit, to the signing of the Military and Technical Cooperation Agreement between the Republics of Senegal and Guinea paving the way for the imminent reopening of their borders. It encourages the Republics of Guinea and Guinea Bissau to work in order to achieve the reopening of their borders. ECOWAS will stand by these countries to accompany them in this endeavour.

G. INSTITUTIONAL MATTERS

37. In compliance with the Decisions taken by the Authority of Heads of State and Government during its Extraordinary Session held on 2nd February 2021, on Institutional reforms, H. E. Nana Addo Dankwa Akufo-Addo, Chair of the Authority, submitted his report on reflections on the optimal structure and size of the new Commission and the other Institutions, and efforts to further streamline ECOWAS operating costs. The Authority commended H. E. Nana Addo Dankwa Akufo-Addo for the quality of the report, and for the efforts deployed towards achieving a consensual outcome.

38. The Authority reiterated its commitment to the objectives of improved performance and operational efficiency of ECOWAS Institutions, to promote the implementation of integration programmes geared towards the economic and social development of the region.

39. To this end, the Authority adopts a 7-Member Commission as the new size of the Commission beginning March 2022. Authority mandates H.E. Nana Addo Dankwa Akufo-Addo, Chairperson of the Authority of Heads of State and Government, to continue his efforts relating to the allocation of statutory positions and streamlining operational costs in ECOWAS Institutions.

H. ON THE PROPOSED MECHANISM OF ROTATION OF ECOWAS MEMBER STATES’ CANDIDATURES TO THE CHAIRMANSHIP OF THE AFRICAN UNION

40. The Authority took note of the report on a Mechanism to ensure predictability, transparence, and fairness in the rotation process within ECOWAS Member States for the occupation of the position of Chairperson of the Assembly of the African Union when the turn of ECOWAS arises.

41. The Authority endorses the criteria set up in the Report and the subsequent rotation proposed within ECOWAS Member States for the chairmanship position of the African Union.

I. OTHER MATTERS

42. The Conference was informed of the declaration by World Health Organisation of the end of the Ebola outbreak in Guinea. It congratulates the Government and the people of Guinea for their strong commitment in fighting the epidemics with the assistance of WAHO.

43. The Authority pays glowing tribute to H.E. Jorge Carlos de Almeida Fonseca, President of the Republic of Cabo Verde, who is attending the Summit for the last time as Head of State, for his strong belief and efforts to promote economic integration, as well as to consolidate democracy, and regional peace and security. It commends the initiatives he led during his two terms as President of the Republic of Cabo Verde which contributed to the economic and social development, as well as to the peaceful opening up of his country, particularly through the development of required infrastructure.

J. ELECTION OF THE NEW CHAIRMAN OF THE AUTHORITY OF HEADS OF STATE AND GOVERNMENT

44. The Heads of State and Government appointed H.E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana as Chairman of the Authority of Heads of State and Government for another one (1) year term.

K. DATE AND VENUE OF NEXT SUMMIT

45. The Heads of State and Government decide to hold the next Ordinary Session in Abuja, Federal Republic of Nigeria on Saturday 18 December 2021.

46. The Heads of State and Government express sincere appreciation to H. E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana, Chair of the ECOWAS Authority of Heads of State and Government, for his leadership in steering the affairs of the Community.
Done, this 19th Day of June 2021.

See PDF copy of statement below:

2021-06-20-UK Final Communiqué-VF

Economy

Tinubu Seeks World Bank Support to Boost Agriculture, Economic Reforms

Published

3 weeks ago

February 4, 2026

Eric

President Bola Tinubu has called on the World Bank to support Nigeria’s ongoing economic reforms, with a focus on agriculture, youth employment, and private sector growth, as part of his administration’s strategy to strengthen the economy and expand opportunities for the citizens.

The president made the remarks on Tuesday while receiving a delegation from the World Bank led by Anna Bjerde, Managing Director of Operations, at the State House, Abuja.

“Since we went into this tunnel of reform, we have our hands on the power and we’re never going to look back. Initially, it was painful and difficult, but those who win are not the ones who give up in difficult times,” Tinubu said.

The president highlighted the importance of mechanization and modernization of agriculture to increase productivity and create opportunities for Nigeria’s large young population.

“We have mechanization centers to help farmers with improved seedlings and fertilizers to enhance their programs. The goal is to move farmers from small-scale holders to large cooperatives that can create opportunities for Nigerians,” he explained.

Tinubu also pointed to the petrochemical sector and other domestic industries as areas where the government is working to improve outputs and strengthen local markets. He stressed that reforms are continuous and must be grounded in transparency, accountability, and stability.

“The first reaction to reforms was high inflation, but it has come down dramatically, and the Naira is now stable. We want to help investors operate with ease, reduce bureaucracy, and develop the skills of our people,” he said.

Anna Bjerde commended Tinubu’s administration for its consistent and steady approach to reforms over the past two years. She highlighted that Nigeria has become a global example of reform implementation, giving confidence to investors and policymakers worldwide. “The results achieved in the last two years are commendable. Your steady communication of the importance of reforms has given confidence and clarity, and there is no turning back,” Bjerde said.

She emphasized the importance of job creation, particularly for Nigeria’s youth, noting that Africa’s young population is growing rapidly and that SMEs are central to employment generation.

“Agriculture is a huge part of the economy and a major employer. Innovations in mechanization, cooperatives, value-chain development, and infrastructure can be scaled to create more opportunities,” Bjerde said.

She also highlighted the World Bank’s financial support for Nigeria, including public sector financing of $17 billion, private sector support of $5 billion through the IFC, and investment guarantees exceeding $500 million. These instruments are aligned with Nigeria’s reforms, including trade, digital initiatives, and inflation management, to stimulate private sector growth and human development.

“We want to work with Nigeria to accelerate growth, improve access to finance for SMEs, and support early childhood development as part of a comprehensive human development strategy,” she added.

The meeting underscored Nigeria’s push to attract foreign support for strategic reforms, particularly in sectors that directly affect youth employment, food security, and overall economic growth.

Economy

New Tax Laws: Presidential Committee Tackles KPMG over Criticisms of ‘Gaps’, ‘Errors’ and ‘Omissions’

Published

2 months ago

January 11, 2026

Eric

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has pushed back strongly against observations by KPMG on Nigeria’s new tax laws, saying the firm largely misunderstood the policy intent and misrepresented deliberate reform choices.

In a detailed statement shared on Saturday on X, Oyedele said the committee welcomed constructive feedback but argued that most of KPMG’s claims were flawed. “We welcome all perspectives that contribute to a shared understanding and successful implementation of the new tax laws,” he said. However, he added that “the majority of the publication reflected a misunderstanding of the policy intent, a mischaracterisation of deliberate policy choices, and, in several instances, repetitions and presentation of opinion and preferences as facts.”

According to Oyedele, several issues described by KPMG as errors or gaps were either based on “the firm’s own errors and invalid conclusions” or stemmed from “issues not properly understood by the firm.” He stressed that policy disagreements should not be framed as technical mistakes.

Addressing concerns about the taxation of shares and potential stock market sell offs, Oyedele said such fears were unfounded. “The fact is that the applicable tax rate on share gains is not a flat 30%,” he said, noting that “a significant majority of investors (99%) are entitled to unconditional exemption.” He added that market performance at an all time high showed investors understood the reforms.

On the commencement date of the new laws, Oyedele dismissed KPMG’s suggestion of aligning reforms strictly with accounting periods, describing it as “a narrow view of the complex transition issues” involved in wholesale tax reform.

He also defended provisions on indirect transfer of shares, saying they were aligned with global best practices. “The assertion that it may affect the country’s economic stability is disingenuous,” he said, explaining that the measure was designed to block long exploited tax loopholes.

Responding to claims of gaps in VAT exemptions, Oyedele said a specific exemption for insurance premiums was unnecessary. “If it is not broken, don’t fix it,” he stated, arguing that insurance premiums were not taxable supplies under existing law.

Oyedele further criticised proposals he said would undermine reform objectives, including calls to exempt foreign insurance companies from tax and allow deductions tied to parallel market foreign exchange. He said disallowing such deductions was “a critical fiscal policy choice designed to complement monetary policy, strengthen, and stabilise the Naira.”

On personal income tax, Oyedele rejected claims that higher rates would harm growth. He said the top marginal rate was competitive globally and ensured fairness without discouraging investment.

He also accused KPMG of factual errors, including references to the Police Trust Fund, noting that its taxing provisions expired in June 2025. “KPMG’s point that the new tax law should be amended to repeal the taxing section of the Police Trust Fund Act is needless,” he said.

While acknowledging clerical issues may arise in any major reform, Oyedele said these were already being addressed internally. He urged stakeholders to engage constructively. “We urge all stakeholders to pivot from a static critique to a dynamic engagement model,” he said, stressing that the reforms marked “a bold step toward a self sustaining and competitive Nigeria.”

Economy

NANS Makes U-turn, Cancels Planned Nationwide Protest over Implementation of New Tax Laws

Published

2 months ago

January 6, 2026

Eric

The National Association of Nigerian Students (NANS) has expressed support for the recently enacted Tax Reform Laws, describing it as a well-intentioned fiscal policy aimed at strengthening Nigeria’s economy and protecting low-income earners.

Reports said the endorsement followed extensive deliberations at the maiden Expanded National Executive Council (ENEC) meeting of NANS under the theme; “National Executive Council and Structural Stakeholders’ Forum 2026 on the Tax Reform Act”, which brought together student leaders, policy experts, and key stakeholders from across the country.

The meeting, held amid public debate and controversy over the new tax law, was attended by members of the NANS National Executive Council, leaders of NAUS, NAPS, and NANCES, zonal coordinators, joint campus council chairpersons, female student associations, and other stakeholders.

Earlier concerns had prompted NANS to issue a 14-day ultimatum, threatening nationwide protests if implementation of the law was not suspended pending further investigations and public enlightenment.

However, following engagements with the National Assembly, the Department of State Services (DSS), and the Federal Inland Revenue Service (FIRS), as well as the publication of the National Assembly’s investigation report, student leaders reported being better briefed on the objectives and safeguards embedded in the law.

Chairman of the Communiqué Drafting Committee and NANS President, Comr. Olushola Oladoja, said students were satisfied with the explanations provided by the government. Tax experts from FIRS used the forum to clarify grey areas and respond to concerns raised by Nigerians, giving student leaders a clearer understanding of the reform’s intent and framework.

At the end of the meeting, ENEC resolved that the Tax Reform Law is designed to improve revenue generation, ensure fairness in taxation, and strengthen social protection for vulnerable citizens, while requiring higher-income earners to contribute more equitably. The council affirmed the authenticity of the law as released by the National Assembly and announced the cancellation of the nationwide protest that had been scheduled for January 14, 2025.

NANS also pledged to serve as ambassadors of public enlightenment, committing to educate Nigerians on the purpose and benefits of the reform to boost public confidence during its implementation.

The meeting further passed a vote of confidence in the former FIRS Chairman, Zacch Adedeji and commended President Bola Tinubu for his fiscal reforms and the NELFUND initiative, reaffirming support for his administration’s economic transformation agenda.