The Economic Community of West African States has renewed its commitment to introducing the ECO as a common currency for the region in 2027.
The commitment was contained in the communiqué issued after the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government held in Lungi, Sierra Leone, under the chairmanship of President Julius Maada Bio.
The regional bloc said the proposed currency would strengthen economic integration, improve trade among member states and promote sustainable and inclusive economic growth.
The ECOWAS leaders stated, “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.”
Under the proposed arrangement, only member states that satisfy the agreed economic convergence requirements will initially adopt the currency.
ECOWAS said countries that do not meet the conditions at the time of launch would be supported to enable them join the monetary union subsequently.
The leaders also welcomed the registration of the name “ECO” with the African Intellectual Property Organisation and directed the ECOWAS Commission to pursue trademark protection for the name through other relevant regional and international intellectual property bodies.
The summit also addressed security concerns across West Africa, particularly the growing threats posed by terrorism, banditry, kidnapping and attacks on vulnerable communities.
The leaders endorsed a revised plan for the activation of the ECOWAS Counterterrorism Brigade, with the force expected to attain full operational capacity by July 2027.
The Authority “strongly condemns the increasing spate of banditry, kidnappings and abductions of school children, particularly in Northern Nigeria.”
The regional body also expressed support for Nigeria and commended President Bola Tinubu for measures taken to secure the release of victims and tackle insecurity.
On humanitarian challenges, ECOWAS expressed concern over the effects of armed conflict, terrorism, displacement, climate-related disasters and food shortages in the region.
The Commission was directed to improve resource mobilisation and coordinate humanitarian interventions, including efforts to support migrants who voluntarily return from North Africa.
The bloc also resolved to continue discussions with Burkina Faso, Mali and Niger, which have withdrawn from ECOWAS and formed the Alliance of Sahel States.
ECOWAS extended the tenure of its Chief Negotiator, Dr Lansana Kouyaté, until December 2026 and maintained that negotiations with the three Sahel countries would be conducted collectively.
On food security, the leaders expressed concern over rising fertiliser costs and their impact on agricultural production.
They called for faster implementation of the ECOWAS Rice Agenda and Regional Rice Roadmap as part of efforts to reduce dependence on food imports and improve food security across the region.
The Authority also reaffirmed its commitment to the free movement of people, residence and establishment within the ECOWAS region, noting that regional mobility remained essential to cross-border commerce and economic cooperation.
The summit further condemned xenophobic attacks against Africans, particularly West Africans, in South Africa and urged the country’s authorities to protect foreign nationals and address the recurring incidents.
On infrastructure and investment, the leaders directed the ECOWAS Commission to develop projects in transportation, energy, digital connectivity and water that could attract funding from development institutions and private investors.
They also welcomed the Inter-Governmental Agreement on the African Atlantic Gas Pipeline, describing the project as important to regional energy security, industrial development and economic integration.
In the aviation sector, ECOWAS called for measures to reduce air travel costs across West Africa and encouraged member states to review aviation-related taxes and charges.
The regional body also approved several digital reforms covering data protection, cybersecurity, digital governance, electronic communications and open data, as well as the creation of a regional cybersecurity coordination mechanism.
The summit adopted a declaration promoting gender parity in political representation and encouraged member states to take stronger measures to increase women’s participation in political and public leadership.
On democratic governance, ECOWAS acknowledged progress in some member states but expressed concern over terrorism, political instability and humanitarian crises.
The leaders urged Guinea-Bissau’s transition authorities to ensure inclusive constitutional and electoral processes, uphold human rights and work towards restoring constitutional governance.
They also commended the conduct of elections in Benin, Guinea, Cabo Verde and Côte d’Ivoire and directed the ECOWAS Commission to continue supporting countries preparing for upcoming elections.
The summit appointed General Birame Diop of Senegal as President of the ECOWAS Commission for the 2026–2030 term, while Senegalese President Bassirou Diomaye Faye was elected Chairman of the ECOWAS Authority of Heads of State and Government for a one-year tenure.
The leaders also paid tribute to China for constructing and donating the new ECOWAS headquarters in Abuja, describing the gesture as “a landmark contribution and a demonstration of solidarity and friendship.”
