Global Economic Disruptions Hindering ECOWAS Monetary Convergence says Minister Wale Edun
Finance Minister Wale Edun has attributed inflation, security challenges, and global economic disruptions as key factors delaying monetary convergence within ECOWAS, as regional leaders push for the launch of the Eco currency by 2027. Speaking at the 11th ECOWAS Convergence Council in Abuja, he reaffirmed Nigeria’s commitment to regional economic cooperation and highlighted economic reforms such as FX market adjustments, tax policy improvements, and subsidy removal, which contributed to a 3.4% GDP growth in 2024. Edun also emphasized the need for stronger regional coordination and alignment with global financial policies, stressing that the introduction of the Eco currency would enhance economic integration, stability, and growth across West Africa.
