ECOWAS Needs $19bn For Agricultural Projects –Touray

President of the Commission of the Economic Community of West African States (ECOWAS) Dr. Omar Touray, has said the regional bloc would need about $19 billion investment towards improving storage facilities, milling initiatives and enhancing mechanisation in paddy production.

Dr. Touray made the disclosure on Thursday at the opening of the 93rd Ordinary Session of the ECOWAS Council of Ministers held in Abuja.

Touray said towards regional self -sufficiency in rice production, the “Rice Offensive” project launched by the Commission in 2014, under the ECOWAS Agricultural Policy (ECOWAP) has now reached a second cycle with the development of a Second Regional Action Plan (2025-2035) to replace the 2020-2025 plan, which is expiring next year.

He added that to attain regional self-sufficiency in rice, it would require the local production of 33 million tonnes of milled rice to meet a planned consumption target by 2035.

“This will also require a financial investment of US15 to $19 billion dollars of capital expenditures (CAPEX) towards improving storage facilities, milling initiatives and enhancing mechanization in paddy production.”

On other integration projects, he said: “Furthermore, progress has continued to be recorded regarding the implementation of ECOWAS Regulation on Roaming on Public Mobile Communications Networks in the ECOWAS Space. Phased implementation of this roaming tariff rate is progressing through several bilateral arrangements.

“The ECOWAS Roaming now lives in at least six-member states since its adoption in December 2017 by this Council,” he said.

Regarding high cost of air transport in the Community, which hinders intra-regional air transport development, he said that Ministers responsible for Air Transport met recently to deliberate on a Regional Strategy for the Harmonization of Air Transport Charges, Fees and Taxes in ECOWAS Member States, and a Supplementary Act relating to the Common Policy on Aviation Charges, Taxes and Fees in ECOWAS Member States.

The Act seeks a cancellation of all taxes deemed inconsistent with ICAO rules and principles, along with a 25% reduction in passenger and security charges. This is a significant development for the business improvement of the regional air transport sector and the facilitation of movement of persons and goods within the Community.

“Furthermore, this year, ECOWAS Commission revived its regional cooperation and integration programme in the water sector which dates to 2001. The Ministers in charge of water resources met and adopted fourteen (14) Resolutions relating to the revision of the 2008 West Africa Water Resource Policy; Management of Shared Water Resources in West Africa, Water Infrastructure Development, among others, with the goal of contributing to poverty reduction, sustainable development and environmental protection he said.”