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The Economic Community of West African States (ECOWAS) has come up with a master plan to facilitate investment, trade and interconnectivity in the sub-region.
The 25-year infrastructure master plan, which is estimated at $131 billion, comprises regional projects in transport, energy, telecommunications and water resources.
The latest initiative comes in the wake of similar infrastructure projects such as the Lagos-Abidjan Corridor Highway and the Praia-Dakar-Abuja Corridor - through Banjul, Bissau, Freetown, and Monrovia- launched some years ago.
This was announced at the launch of the 50th Anniversary celebration of ECOWAS in Accra yesterday.
The event was attended by President John Mahama, former President Nana Addo Dankwa Akufo-Addo and the President of Nigeria and Chair of the ECOWAS Authority of Heads of State and Government, Bola Ahmed Tinubu.
Others were the leadership of Parliament, the diplomatic corps, the Ga Mantse, traditional leaders, civil society organisations, development partners and students, among others.
The President of the ECOWAS Commission, Dr Omar Alieu Touray, said the Lagos–Abidjan Corridor project, which traverses Ghana, had already secured $42 million to finance feasibility and preparatory studies, with a projected total investment of nearly $15 billion at an average economic return of 15 per cent.
He said that the project was now ready for investor engagement.
Dr Touray said apart from those projects, the regional bloc had also made some gains in peace, security and democracy, among others, hence the need for ECOWAS to celebrate its golden jubilee.
In the energy sector, Dr Touray said ECOWAS was in partnership with international agencies to implement several regional electrification projects and interconnection initiatives in the Gambia, Guinea-Bissau and Mali through the ECOWAS Regional Electricity Access Project (ECOWREAP).
He said 14 continental ECOWAS member states were now electrically interconnected, setting the stage for cross-border electricity trade.
Also, the West African Power Pool’s Information and Coordination Centre will enable electricity trade among member states.
Dr Touray lauded the establishment of the ECOWAS Regional Electricity Regulatory Authority (ERERA), headquartered in Ghana, which oversees and facilitates fair and efficient electricity exchanges across borders.
“These efforts are complemented by the Regional Off-Grid Electricity Access Project, spearheaded by the ECOWAS Centre for Renewable Energy and Energy Efficiency (ECREEE), with an estimated cost of $340 million,” he added.
The project would provide off-grid electricity to households, businesses and public institutions.
Dr Touray further commended ECOWAS leadership in their health responses to Ebola, COVID-19 and Mpox through the West African Health Organisation (WAHO).
He also said that ECOWAS peacekeepers and mediation efforts brought peace to Liberia and Sierra Leone, including ensuring the will of the Gambian people prevailed in 2016.
“Our efforts in fighting organised crime and piracy, including maritime security partnerships, have contributed to a significant drop in piracy incidents, with zero recorded in 2024,” he added.
Dr Touray, however, acknowledged that ECOWAS still faced some challenges such as low level intra-regional trade, which stood at only 12 per cent despite the body being a customs union.
He commended the current ECOWAS leaders, including Presidents John Mahama, Bola Ahmed Tinubu, and Faure Gnassingbé, for their roles in seeking reconciliation between ECOWAS and the Alliance of the Sahel States.
In a speech read on his behalf, President Tinubu reaffirmed Nigeria’s commitment to democratic principles, the rule of law, good governance and regional cooperation.
“We must place our young, dynamic, creative, and resilient people at the centre of our agenda. We must invest in education, innovation and skills development to unleash the full potential of Africa’s future.
“In deepening our integration, we must accelerate the realisation of a single currency and strengthen infrastructure corridors to connect markets and minds within the region,” he said.
President Tinubu stressed the need to implement bold, comprehensive reforms to enhance institutions’ effectiveness, relevance and credibility to meet the challenges of today and the future.
