Connect with us

Economy

Nigeria, 11 Countries Move to Launch Eco Currency

Published

on

Nigeria

Nigeria and 11 West African nations fast-track Eco currency launch, aiming to boost trade, economic stability, and monetary integration across the region

adron lemon friday

Nigeria and 11 other West African countries have renewed efforts to introduce the long-delayed Eco regional currency, signalling a potentially transformative shift for the region’s economy.

Also read: FG Opens Recruitment for Technical Facilitators Nationwide

The announcement followed a meeting of central bank governors in Monrovia, Liberia, under the Economic Community of West African States (ECOWAS) framework on Tuesday, February 17, 2026.

The discussions focused on harmonising monetary policies, strengthening governance systems, and ensuring all participating countries meet strict macroeconomic criteria required for the rollout.

Nigeria’s presidency described the engagement as a decisive step toward finalising the policy and institutional structures for the Eco project.

Governor of the Central Bank of Nigeria, Olayemi Cardoso, represented Nigeria at the talks, emphasising the country’s central role in shaping the currency.

The 12 backing nations are Nigeria, Ghana, Liberia, Sierra Leone, Guinea, The Gambia, Cape Verde, Guinea-Bissau, Senegal, Côte d’Ivoire, Togo, and Benin.

The initial rollout is expected to include Liberia, Nigeria, Ghana, Sierra Leone, Guinea, and The Gambia, subject to compliance with fiscal and monetary convergence benchmarks.

These benchmarks include maintaining low inflation, sustainable debt levels, stable exchange rates, and disciplined fiscal deficits. Officials stressed that adherence would be non-negotiable.

The Eco project has faced repeated delays due to economic divergences across member states, including inflation spikes, widening budget deficits, and currency instability.

Despite these hurdles, regional leaders argue that monetary integration is critical to boosting intra-African trade, attracting investment, and reducing dependence on external currencies.

If successfully implemented, possibly by 2027, the Eco could become one of Africa’s most ambitious monetary initiatives.

It would reduce exchange rate risks, lower transaction costs for cross-border trade, and enhance economic stability across West Africa.

Experts believe the success of the currency will depend on sustained macroeconomic discipline and consistent political commitment.

Also read: FG Opens Recruitment for Technical Facilitators Nationwide

The Monrovia meeting has reaffirmed Nigeria’s leadership role and placed the Eco project firmly back on the policy agenda, signalling renewed determination among member states to move from blueprint to implementation.

60 / 100 SEO Score

Economy

Governor Dauda Lawal woos investors, highlights Zamfara’s economic opportunities at CEO Forum

Published

on

By

Zamfara State Governor, Dauda Lawal, has called for stronger collaboration between government, businesses and investors to unlock private capital and drive inclusive economic growth in the state.

adron lemon friday

Lawal made the call while delivering a Special Policy Address at the 2026 CEO Forum organised by the Global Compact Network Nigeria in Lagos.

The forum, held under the theme “Financing a Dignified Future: Aligning Business Action, Policy and Capital,” brought together chief executives, senior government officials, industry leaders, diplomats, trade commissioners and international development partners.

Participants were drawn from key sectors of the economy, including oil and gas, energy, manufacturing, construction and infrastructure.

The governor spoke on the growing competition among states for increasingly selective private capital and the factors that could transform an economic opportunity into an investable proposition.

He explained how his administration was working to bridge the gap between available economic opportunities and investment, with emphasis on building investor confidence while ensuring that investments deliver meaningful outcomes for the people of Zamfara.

According to him, attracting investment requires more than identifying economic opportunities, but also creating the conditions, policies and partnerships capable of giving investors confidence to commit capital.

The forum provided a platform for business leaders, government officials and investors to examine ways of aligning business strategies, public policies and capital deployment to unlock productive investment.

Discussions also focused on identifying businesses, sectors and projects with strong potential but facing difficulties in accessing financing, as well as measures to make such opportunities more attractive to investors.

The organisers also introduced the concept of the “Dignity Dividend,” examining how investment-led growth could translate into better jobs, stronger businesses, increased productivity, local value creation and broader economic participation.

Another key component of the forum was the identification of actionable commitments and partnerships that participating institutions could advance over the next six to 12 months.

Notable speakers at the event included chief executives of First Bank Group, Access Bank, Flour Mills of Nigeria Plc, Nigeria Economic Summit Group, Nigerian Exchange Group, Chellarams Plc, SecureID Group and Greenwich Merchant Bank Plc, among others.

The organisers said the session would culminate in a live showcase of the Business Value and Sustainability Platform (BVSP), described as a standing coalition of business, capital and policy actors designed to sustain the dialogue.

The platform is also expected to contribute to shaping Nigeria’s private-sector engagement during the United Nations General Assembly High-Level Week.

The governor’s participation in the forum comes as Zamfara seeks to strengthen its economic base, attract productive investment and create opportunities that can support sustainable livelihoods and wider participation in the state’s economy.

45 / 100 SEO Score
Continue Reading

Economy

Fuel subsidy debate: Between economic reform and political expediency

Published

on

subsidy

Atiku petrol subsidy plans have reignited Nigeria’s 2027 debate as the ADC candidate promises relief while the Presidency demands clarity

(more…)

adron lemon friday

51 / 100 SEO Score
Continue Reading

Economy

Lawal Strengthens Zamfara Judiciary With ₦600m Support

Published

on

Lawal

The governor distributed official vehicles to judicial officers and said about 90 per cent of court rehabilitation projects across the state had been completed

(more…)

adron lemon friday

Continue Reading

Trending News