President Tinubu Emerges As Chairman of ECOWAS, Stresses Regional Security, Private Sector-Led Economic Growth.

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Nigeria’s President, Bola Tinubu, has been unanimously appointed as the new Chairman of the Economic Community of West African States (ECOWAS), with a strong focus on regional security and private sector-driven economic growth.

The endorsement of President Tinubu by his counterparts took place during the 63rd Ordinary Session of the Authority of Heads of State and Government in Guinea-Bissau’s capital, Bissau.

This was contained in a statement released on Sunday by the Special Adviser to the President on Special Duties, Communications & Strategy, Dele Alake.

President Tinubu expressed his gratitude for the trust placed in him and pledged to fulfill the responsibilities of the office, emphasizing the need for urgent and concerted action against the alarming threats to peace in the sub-region, such as terrorism and military coups.

He stressed that insecurity and terrorism were hindering progress and development in the region, calling for collective action and the utilization of existing regional frameworks to address these challenges effectively.

The newly appointed chairman highlighted the importance of political stability, peace, and security, as well as regional economic integration and the strengthening of ECOWAS institutions. President Tinubu emphasized the significance of democracy, condemning the emerging pattern of coups d’état in West Africa and urging ECOWAS to stand firm in defense of democracy.

President Tinubu also prioritized private sector participation in driving economic development and social integration within member states. He emphasized the need for inclusive economic integration, led by the private sector, to unlock the vast economic potential of the region. The President pledged to actively promote trade, investment, and business cooperation among member states by addressing barriers to intra-regional trade and creating a favorable business environment.

Furthermore, President Tinubu announced his plan to convene an ECOWAS Extraordinary Summit on Trade and Investment in October 2023, aiming to showcase member states’ potential and facilitate business cooperation within the organized private sector of the region. He also emphasized the need to strengthen ECOWAS institutions and conclude ongoing institutional reforms to ensure effective performance and maximize the positive impact on citizens.

President Tinubu expressed his appreciation to the Authority of Heads of State and the citizens of the community for their trust, highlighting the shared vision of peace, democracy, and economic prosperity for the region.

In his welcome address, the outgoing ECOWAS Chairman, President Umaro Mokhtar Sissoco Embalo of Guinea-Bissau, commended the sustained vision of the organization despite economic challenges and trouble spots in the region. He recognized Nigeria and Sierra Leone for upholding constitutional order through successful democratic elections and acknowledged the need to address distorted constitutional orders in countries such as Mali, Burkina Faso, and Guinea.