Latest news with #ECOWAS
Zawya
38 minutes ago
- Business
- Zawya
Liberia Wins Bid to Host the Economic Community of West African States (ECOWAS) Youth & Sports Development Centre
The Republic of Liberia is proud to announce through the Ministry of Foreign Affairs, that it has officially won the bid to host the ECOWAS Youth&Sports Development Centre (EYSDC), a key regional institution under the Economic Community of West African States (ECOWAS). The decision was made following a competitive selection process initiated by the ECOWAS Commission in light of recent institutional relocations triggered by the withdrawal of some Member States from the regional bloc. The Ministry of Foreign Affairs, which led Liberia's bid to host one of the vacated ECOWAS institutions, welcomed the news with deep appreciation and a renewed sense of national pride. Liberia's Minister of Foreign Affairs, H.E. Sara Beysolow Nyanti, extended heartfelt gratitude to ECOWAS member states. 'This is a historic moment for Liberia. We are honored to be entrusted with hosting the EYSDC and reaffirm our commitment to regional integration and youth empowerment,' said Foreign Minister Nyanti. The Foreign Minister acknowledged the pivotal role of President Joseph Nyuma Boakai, Sr., the chief architect of Liberia's foreign policy, whose unwavering support was instrumental in the successful bid. She thanked His Excellency for his direct engagement with the vetting team that visited Liberia to assess Liberia's readiness. She also recognized Deputy Minister for International Cooperation and Economic Integration, Dr. Ibrahim Nyei and his team for their strategic leadership throughout the process. Special thanks were also extended to Cllr. Cole Bangalu, Minister of Youth and Sports, for ensuring that the technical aspects of Liberia's proposal reflected the country's readiness to host such a vital institution. She also commended Mr. Morley Kamara, Economic Advisor to the President, for his support to the bid process, aligning it with Liberia's broader economic diplomacy agenda. The General Services Agency (GSA) was recognized for its effective coordination and oversight of the logistics and infrastructural details included in Liberia's application. The Minister further expressed appreciation to Senator Edwin Snowe, for his advocacy for Liberia to seek the hosting of a regional institution. As background, Liberia had expressed interest in hosting three of four ECOWAS institutions namely, West Africa Health Organization (WAHO); ECOWAS Youth&Sports Development Centre (EYSDC) and Water Resources Coordination Centre (WRCC) previously located in Member States that have exited the regional bloc. Of the 12 countries eligible to bid, Côte d'Ivoire was selected to host WAHO, Guinea will host the WRCC, and Guinea-Bissau the RAHC. Liberia's selection as host of the EYSDC marks a significant achievement in its regional engagement and diplomacy. The successful bid not only enhances Liberia's standing in the ECOWAS community but also promises long-term benefits in the areas of youth engagement, education, sports diplomacy, job creation, and regional visibility. The Government of Liberia reaffirms its readiness to ensure a smooth and timely transition of the Centre's operations and infrastructure to Monrovia and calls upon development partners and stakeholders to support the next phase of implementation. The Ministry of Foreign Affairs will continue to identify and optimize every opportunity for repositioning and rebranding Liberia. Distributed by APO Group on behalf of Ministry of Foreign Affairs of Liberia.
Zawya
13 hours ago
- Politics
- Zawya
The Economic Community of West African States (ECOWAS) Mediation and Security Council at the ministerial level holds 54th ordinary session in Nigeria
The Economic Community of West African States (ECOWAS) Mediation and Security Council (MSC) at the Ministerial Level is holding its 54th Ordinary Session today,18th of June 2025, in Abuja, Nigeria. During the meeting, Ministers will consider the report of the 42nd Session of the MSC at the Ambassadorial Level, along with memoranda on the political, security, and humanitarian situations in the Region. Key updates will include the transition process in the Republic of Guinea, negotiations with Burkina Faso, Republics of Mali, and Niger, as well as maritime security, counterterrorism and organised crime, among other pressing matters. In his welcome address, H.E. Dr. Omar Alieu Touray, President of the ECOWAS Commission, highlighted that the 54th Ordinary Session of MSC convenes at a defining moment as ECOWAS marks its 50th anniversary. President Touray commended Member States for their unwavering commitment to peace, security and regional stability, noting that despite persistent challenges, the Community remains resilient and unified. He emphasised the Council's enduring contribution to maintaining security over the past 25 years and reaffirmed the Commission's commitment to strengthening the regional peace and security architecture, improving communication to counter misinformation, and preserving the achievements of the Community amidst growing geopolitical complexities. 'For over 25 years, the Mediation and Security Council has contributed immensely to the security and stability of our region, through its numerous sessions. Therefore, in celebrating the Golden Jubilee, we must recognise the contribution of this august body to the Community,' President Touray added. H.E. Ambassador Yusuf Maitama Tuggar, Minister of Foreign Affairs of the Federal Republic of Nigeria and Chairman of the ECOWAS Mediation and Security Council at the Ministerial Level, welcomed delegates to Abuja and acknowledged their continued dedication to strengthening peace, security, and democratic governance in West Africa. He outlined the Council's focus on key regional priorities, including political transitions, upcoming elections, maritime security, terrorism, organised crime and financial transparency. Ambassador Tuggar also highlighted progress on the Early Warning and Response Centres, the launch of the Regional Partnership for Democracy, and the completion of the Lungi Military Logistics Depot, a milestone in operationalising the ECOWAS Standby Force. He further underscored the need for collective ownership of regional initiatives and cautioned against restrictive policies that could hinder trade and investment opportunities vital to the region's prosperity. 'In these challenging times, our ability to come together to consult, collaborate and take decisive action remains vital to advancing peace, security and good governance across our region,' he added. A report will be adopted by the Ministers at the end of the MSC Session and presented to the Ordinary Session of the ECOWAS Council of Ministers, scheduled to take place in Abuja from the 19th to 20th of June 2025. Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).
Zawya
13 hours ago
- Politics
- Zawya
The Economic Community of West African States (ECOWAS) to hold regional youth conference in Senegal from the 1st to 3rd of July, 2025
From the 1st to 3rd of July 2025, the Economic Community of West African States (ECOWAS) will be holding its Regional Youth Forum in Saly Portudal, Senegal, under the theme: 'Engaging ECOWAS for a new vision of youth'. This high-level meeting will bring together young leaders, representatives of youth organisations, political decision-makers and regional and international experts. It will provide an inclusive platform for dialogue on the challenges and opportunities facing young people in the ECOWAS region, particularly in the areas of employment, entrepreneurship, education and vocational training. The conference is part of the celebrations marking the fiftieth anniversary of ECOWAS, and marks an essential stage in the regional organisation's determination to strengthen the active participation of young people in building a peaceful, integrated and prosperous West Africa. They illustrate the ambition to forge a new regional vision, placing young people at the heart of social, economic and political transformation. The main objective of this initiative is to create a space for direct dialogue between young people and ECOWAS, in order to harmonise points of view on the issues faced by young people in the region, and to co-construct concrete solutions to encourage their socio-economic development and civic participation. The Saly meeting is the culmination of a series of pilot national consultations organised in several West African capitals, including Cotonou (Benin), Accra (Ghana), Yamoussoukro (Côte d'Ivoire) and Dakar (Senegal). These consultations laid the foundations for a participatory and regional process, of which the regional meetings are the concrete expression. Through this initiative, ECOWAS is reaffirming its commitment to developing innovative strategies and defining shared priorities to strengthen the involvement of young people in local, national and regional governance. This conference reflects this vision, considering young people not only as beneficiaries, but also as key players in the development of the region. Organised under the coordination of the ECOWAS Youth and Sports Development Centre (EYSDC), the conclusions of this conference will feed into the development of a strategic roadmap, in line with ECOWAS Vision 2050, and will lay the foundations for a new regional policy dedicated to youth. Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).
Zawya
13 hours ago
- Politics
- Zawya
The Economic Community of West African States (ECOWAS) commission joins nigerian ministry of environment to commemorate World environment Day, championing action against plastic pollution
The ECOWAS Commission in a significant collaboration with the Nigerian Federal Ministry of Environment's Department of Planning, Research, and Statistics, on the 17th of June, 2025 celebrated the 2025 World Environment Day. The commemorative event, held in Abuja, Nigeria, themed: ' Ending Plastic Pollution' with the slogan 'Beat the plastic' Mr. Yao Bernard Koffi, Acting Director of Environment and Natural Resources, delivered a goodwill message on behalf of H.E. Massandjé Toure-Litse, Commissioner for Economic Affairs and Agriculture, and H.E. Dr Omar Alieu Touray, President of the ECOWAS Commission. He underscored the profound significance of the occasion, particularly as it coincided with ECOWAS's Jubilee Year, marking five decades of regional solidarity, integration and shared responsibility. Mr. Bernard Koffi reaffirmed the Commission's unwavering commitment to fostering a clean, resilient, and sustainable environment for current and future generations. He highlighted ECOWAS's proactive stance in addressing persistent environmental challenges, including the adoption of a regional regulation on plastic management in 2023, which mandates member states to harmonize their plastic waste management regulations. Furthermore, ECOWAS Vision 2050 identifies environmental sustainability as a crucial pillar for inclusive development and emphasizes the vital role of fostering youth-driven climate action, acknowledging that the future belongs to them. He concluded by urging tangible action over mere words and unity over indifference, stating, 'The ECOWAS Commission stands ready to work side-by-side with Nigeria and all partners to beat plastic pollution not tomorrow, but today.' And that the commisson remains resolutely committed to working alongside member states to beat Pollution. In his keynote address, Balarabe Abbas Lawal, Honorable Minister of Environment, emphasized the critical global urgency of this year's theme, 'Ending Plastic Pollution.' He stressed that plastic pollution transcends environmental concerns, posing significant economic and public health crises. The Minister highlighted the alarming rate at which plastic waste infiltrates oceans, rivers and drainage systems, endangering wildlife and exacerbating urban flooding. Minister Lawal outlined Nigeria's initiatives, including the launch of the Extended Producer Responsibility (EPR) Programme, which obliges producers to manage the entire lifecycle of their plastic products. He expressed profound appreciation to all development partners, particularly the ECOWAS Commission, commending its steadfast partnership in environmental governance, climate change response, and sustainable development across the West African sub-region, as well as its leadership in addressing transboundary environmental issues. Mr. Mahmud Adam Kambari, Permanent Secretary of the Federal Ministry of Environment, delivered the welcome address, reinforcing the dire threat plastic waste poses to ecosystems, public health, and the planet. He stated, 'Plastic pollution has emerged as one of the most urgent environmental challenges of our time, clogging waterways, endangering marine life, and contaminating our food systems.' Mr. Kambari reiterated Nigeria's direct experience with the devastating impacts of plastic waste and issued a clarion call for intensified efforts through effective policy implementation, robust public awareness campaigns, responsible consumption patterns, and strategic investment in sustainable alternatives. He affirmed the Ministry's commitment to advancing circular economy principles, strengthening regulatory frameworks, and promoting innovations that reduce reliance on single-use plastics. Mr. Kambari extended sincere commendations to all partners, stakeholders, and environmental advocates for their tireless efforts, urging everyone present to reflect on individual and collective actions to 'Beat Plastic Pollution.' The occasion also saw the notable presence of representatives from key organizations, international partners and stakeholders, including UNICEF, Oando Foundation, Oando Clean Energy, OXFAM, Zoom Lion Nigeria, RCEI, RUWES, and the Head of Mission to the Netherlands, alongside invited students from various schools. These stakeholders collectively underscored the paramount importance of a safe environment, emphasizing the pivotal role of women and children as not only integral to addressing climate and environmental issues but also as vital agents of community awareness and crucial actors in forging a greener, plastic-free future. The joint commemoration underscored the shared commitment of ECOWAS and Nigeria to combat plastic pollution through coordinated regional action and national policy implementation, reinforcing their dedication to a sustainable future. Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).
Russia Today
a day ago
- Business
- Russia Today
Crudely choked: Why must this nation struggle to refine its own oil?
The Dangote Petroleum Refinery in Nigeria, one of the largest oil refineries in the world, with a capacity of over 600,000 barrels per day (accounting for 0.5% of global refining capacity), is well-known beyond Africa thanks to global media reports. Initially, the media discussed this ambitious vision of Africa's richest man, Aliko Dangote, who aimed to tackle the fuel shortage in his home country by building a $20 billion oil refinery. Later, there were reports about construction delays and bureaucratic hurdles; after the refinery was finally launched in May 2023, stories emerged about conflicts between Dangote and the Nigerian government regarding oil and gasoline prices. The refinery's significance has been noted by the Economic Community of West African States (ECOWAS), which has referred to it as a 'beacon of hope' for the struggling regional market. Nigerian President Bola Tinubu, who visited the facility on June 6, called it 'a great phenomenon of our time.' However, the Dangote Refinery also serves as an example of the challenges that many African nations (many of which are not as wealthy as Nigeria) face on their path to economic prosperity, industrialization, and self-sufficiency. Fuel and petroleum products are essential commodities for any economy. They are critical for the operation of transportation infrastructure and energy systems, and play a vital role in industries and construction. Despite the fact that Africa exports at least 4.7 million barrels of oil per day, it still finds itself importing approximately 2.8 million barrels per day, incurring costs of around $100 billion each year. Paradoxically, Nigeria – one of the largest exporters and producers of oil, a member of OPEC and OPEC+ – until recently had been forced to import refined petroleum products (about 500,000 barrels per day). Nigeria's oil refining sector emerged in the 1970s-1980s and had a peak capacity of around 500,000 barrels per day; however, it suffered considerable decline in the 1990s and 2000s due to liberalization and market reforms. Equipment became outdated, and the government spent over a decade unsuccessfully searching for foreign investors to modernize the old refineries. International traders, exporters, trading cartels, and local business associates benefit from keeping countries reliant on imported petroleum products, and reap stable profits from trading margins. The bulk of profits in oil trading comes not just from differences in raw material costs, but also from ancillary operations like hedging, insurance, chartering, transportation, and transshipment. These logistical and financial services form the backbone of global trading business models. This means that the emergence of a domestic refining industry and the launch of oil refineries are detrimental to their interests. Both formal pressure (such as WTO regulations) and informal methods (involving corruption) have been employed to stifle projects aimed at enhancing Africa's domestic oil refining capabilities. Nigeria stands as one of Africa's most developed nations, boasting a population of over 200 million, a growing economy with a robust domestic capital market, and its own billionaires; this allows the country to take the first (even if still unstable) steps toward energy sovereignty. Local businesses, possessing a deeper understanding of African market dynamics, have the potential to drive growth in regional trade and industry. This context sheds light on the construction and launch of Africa's largest oil refinery, owned by Aliko Dangote, the wealthiest person in Africa, whose net worth is estimated at $23 billion. The project is indeed impressive: the Dangote Refinery accounts for about 0.5% of the world's oil refining capacity and over a quarter of all refining capacity in Africa. The project is valued at more than $20 billion and features a high-tech facility equipped with state-of-the-art equipment from around the globe. It produces a wide range of petroleum products, including gasoline, diesel, jet fuel, kerosene, liquefied petroleum gas (LPG), propane, butane, bitumen, naphtha, and fuel oil. This refinery should reduce Nigeria's dependence on imported petroleum products, which cost the nation over $22 billion annually. However, despite being operational for two years, the refinery has faced numerous challenges, particularly pushback from various industry players. In a rather absurd twist, the refinery has been forced to import crude oil from the US instead of sourcing it from local producers. This situation has arisen because multinational corporations like Shell, Chevron, ExxonMobil, and Total, from which the Nigerian National Petroleum Company (NNPC) offtakes crude, prefer exporting crude, since prices are higher in international markets, allowing for greater profit margins. These companies invest in expensive deepwater fields offshore, and export directly to Europe and China. Meanwhile, smaller Nigerian companies operating on less lucrative onshore fields often struggle with technological and financial limitations; this worsens access to crude in the domestic market. Furthermore, for the past two decades, the market has remained rudimentary, with minimal demand for crude due to the lack of local refining capacity. Aliko Dangote's influence has so far enabled him to secure the necessary preferences that benefit the entire domestic market. In 2024, a 'naira-for-crude' deal was introduced, requiring oil producers to sell a portion of their crude oil on the domestic market in naira [the local Nigerian currency]. This measure aims to stabilize the national currency, reduce dollar demand, and foster the growth of the local oil refining sector. Such a model promotes value-added growth within the country, supports import substitution, and could lay the groundwork for an independent fuel sector free from external supply chains. However, this strategy doesn't benefit everyone. The mandatory sale of crude in naira decreases profitability for oil producers, especially multinational companies that rely on foreign currency payments. These tensions led to a temporary suspension of the program, but in April, it was reinstated. A recent visit by a delegation led by President Bola Tinubu to the refinery indicates that some of these conflicts have been resolved. The launch of a major project like the Dangote Refinery creates a cumulative effect that extends well beyond a single industry. It helps build a domestic market not just for petroleum products, but also for crude oil, fundamentally altering the structure of supply and demand within the country. In order to ensure the sustainable utilization of such capacities, the government is reevaluating its economic policies: it is granting meaningful incentives to local businesses, establishing supportive mechanisms like 'naira for crude,' and increasing pressure on foreign investors to redirect a portion of their production to the domestic market. All these efforts contribute to strengthening the naira by lowering demand for foreign currencies, stabilizing the balance of payments, and fostering the development of local production and financial systems, thus strengthening the country's economic sovereignty.
