Tuggar Tasks ECOWAS Leaders On Private Sector Investment

Minister of foreign affairs, Yusuf Tuggar, has charged governments of member countries of the Economic Community of West African States (ECOWAS) to create an enabling environment for the private sector to thrive.

He made the call at the opening of the 93rd Ordinary Session of Council of Ministers of ECOWAS in Abuja yesterday, describing the private sector as the driving force in the region’s integration process.

He stressed the need for a strong commitment to facilitating and improving trade within the sub-region even as he bemoaned the current low trade among member states which hovers around 12% to 13%. He urged member states to leverage on the existing instruments to promote greater regional economic cooperation.

He said: “ECOWAS stands at a pivotal point in its existence. The region faces multifaceted challenges that can only be overcome through enhanced cooperation and a deeper common understanding among our member states. It also requires assiduous statecraft and diplomatic nous.

“Our governments must continue to make concerted efforts to create an enabling environment for the private sector to thrive, as they are the driving force behind the economic integration agenda, and yes, sometimes integration poses difficult sovereignty issues. But in the long run, it is for the benefit of all member states.”