Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, has described the proposed eco-currency as a key step towards deeper regional unity within the Economic Community of West African States (ECOWAS). He urged member states to focus on economic and technical requirements to ensure its success.
Speaking during an interview on morning TV show on Wednesday, Tuggar emphasized that ECOWAS nations must meet critical benchmarks before adopting a common currency.
“The creation of an eco-currency is most genuine. It will further unite us, uniting Anglophone and Francophone countries in the region,” Tuggar said.
He stressed that legal and regulatory alignment is vital. Convergence in livestock trade, water systems, and the West Africa power pool must be achieved before a currency can be introduced.
Tuggar acknowledged concerns over France’s influence in Francophone West Africa’s monetary affairs. He cited recent reforms, such as transferring foreign reserves from Paris to Dakar, as progress toward financial autonomy.
The minister praised ECOWAS for maintaining unity among Anglophone, Francophone, and Lusophone nations for five decades. He highlighted ongoing projects, including the Abidjan-Lagos and Abidjan-Dakar trade corridors, the ECOWAS Trade Liberalisation Scheme, and SIGMAT, a digital customs platform.
Nigeria Seeks Continued Engagement with Mali, Burkina Faso, and Niger
Despite the withdrawal of Mali, Burkina Faso, and Niger from ECOWAS, Tuggar described their departure as regrettable but not final.
“We are not closing the door on the three countries. They are more than welcome,” he said.
He revealed that ECOWAS repeatedly urged these nations to reconsider, citing their shared history and common challenges.
Tuggar also warned about foreign military involvement in West Africa, particularly Russia and its private military affiliates like the Africa Corps.
“With the Russian involvement and ambitions of creating an Africa core, it’s something of great concern to all countries. It will further destabilize the region,” he stated.
He noted that recent Russian activities in Niger, Mali, and Burkina Faso could create a geopolitical arc around Nigeria, adding that Chad is the only missing link in the puzzle.
Nigeria’s Leadership in Regional Peacekeeping
The minister reaffirmed Nigeria’s role in ECOMOG peacekeeping missions, stressing the country’s commitment to regional security and sovereignty. He emphasized the need for African-led security architecture to counter external threats.
On global matters, Tuggar confirmed ECOWAS’s stance on the Gaza-Israel conflict.
“We stand with the Gazans. The position is clear. We condemn the continuing siege in Gaza against the people of Palestine,” he said.
ECOWAS has consistently supported a two-state solution and criticized the humanitarian crisis affecting Palestinian civilians.
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