Why ECOWAS trade not fully captured — Reps member

The member representing Lere Federal Constituency in Kaduna, Hon. Ahmed Munir, has attributed the reason why trade amongst members of the Economic Community of West African States (ECOWAS) is not properly captured to the dominance of the informal sector.

Munir, who is also the Deputy Chair of the ECOWAS Committee on Infrastructure, stated this at the ongoing Sixth Legislature of the ECOWAS Parliament Delocalised meeting of Joint Committee on Infrastructure, Energy and Mines in Lome, Togo.

According to Munir, a huge volume of trade is going on among citizens of member states, but it falls within the informal sector, which is not properly captured in the Gross Domestic Product (GDP) of member states. He urged that the informal sector be brought into the formal sector to widen the net of the economy and enhance access to funding and protection.

Munir also emphasised the need to address interconnectivity among member states, particularly in the area of transportation, to facilitate the movement of goods and people.

He noted that the regional body is working on several initiatives to improve infrastructure, including roads and rivers, and suggested that Public-Private Partnerships (PPPs) could be explored to support infrastructure development.

On the cost of airfare within the region, Munir said the meeting is aimed at finding ways to reduce costs and improve air travel within West Africa.

He expressed optimism that the region can achieve a revolution in the aviation industry, similar to the mobile telephone revolution, which has transformed communication in the region.

Munir also highlighted the achievements of ECOWAS, despite the challenges confronting the regional body.

He noted that the region has a population of over 400 million people, which presents a lot of opportunities for growth and development. He expressed hope that with continued efforts, the region can achieve its goals and improve the lives of its citizens.

The lawmaker further emphasised the importance of collaboration and cooperation among member states to achieve the goals of ECOWAS.

He noted that the regional body has made significant progress in areas such as power, transport, and infrastructure development, and expressed optimism that with continued efforts, the region can overcome its challenges and achieve its objectives.

Munir also commended the ECOWAS Parliament for its efforts in promoting regional integration and development.

He noted that the parliament has played a crucial role in shaping the region’s policies and programmes, and expressed hope that the current legislative session will yield more positive outcomes for the region.

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