Is the current state of the Economic Community Of West African States (ECOWAS) any concern to the Authority of Heads of States and Government, where the Community Parliament is unable to organize its Second Ordinary Session due to what is believed to be financial constraints?.
How can it be said that a sub-regional bloc of 15 countries with programs and policies to better the lives of its citizens have such magnitude of financial crisis that it cannot meet over its budget, a session critical to the smooth running of the bloc for the ensuing year, as it is at that session that the draft 2025 Consolidated Budget of the Community would be examined.
What signal would the leaders be sending to the citizens who look forward to improved living conditions if the creation to spearhead their welfare is financially deficient to the extent that its own deliberations cannot be financed?
Remittances from the two giants of the bloc, Nigeria and Ghana should be enough to provide face-saving moments for the bloc at least in ensuring there is enough to prepare for the ensuing year.
It should be known that any failure to ensure the holding of this Second Ordinary Session would be a global embarrassment.
The Federal Republic of Nigeria, the big brother to all the member states currently occupies an enviable position as President H. E. Bolar Ahmed Tinubu is the Chairman of ECOWAS. The transfer from Nigeria alone which is about 40% is worth relying on for giving the bloc some financial breathing space. With Ghana proving about 17.4 percent, these two countries offer more than 50% of levy. So, does it mean these two giants are also reneging on their remittances?
It is common knowledge that most countries delay in transferring their remittances to the bloc. But how endemic is this phenomenon that the bloc is this broke?
As a journalist following and reporting on the activities of ECOWAS, the frustrations expressed by Members of Parliament (MPs) in the Community parliament over the lackadaisical approach by member states towards their remittances to the bloc is disheartening and does not augur well for accelerated development.
One is not oblivious of the economic challenges faced by member states, but there are specific key areas that are levied for the purposes of financing the bloc.
It is, therefore, unpardonable for ECCOWAS to be facing this level of financial crisis.
Perish the thought, but with this unfolding situation does it mean when the three Shale member states Burkina Faso, Niger and Mali break away from the sub-regional bloc without the concern of their citizens, the bloc will face dire financial challenges.
Kwaku Sakyi-Danso and Dominic Dela Shirimori/Ghanamps.com
Source: Kwaku Sakyi-Danso and Dominic Dela Shirimori/EcowasNewsOnline.com
