•Stresses need to support MSMEs

President of the Senate, Senator Godswill Akpabio, yesterday, urged lawmakers in West Africa to renew their pledge to build a united West Africa.

Akpabio stated this in his keynote address titled: “One Region, One Dream: Advancing the Promise of West Africa,” which he delivered at the opening of the 2025 First Session of the ECOWAS Parliament, held in Abuja.

Akpabio told the regional lawmakers to seize the opportunity of their gathering, “to renew their pledge to build a united West Africa.”

He said doing this would make economies of the sub-region thrive, their cultures flourish, and allow the children to inherit a legacy of peace, prosperity, and unshakable unity.

The Senate President said, “ECOWAS was never meant to be a concept, it was meant to be a clarion call to every West African – that our journey to greatness has just begun, and together, we can write a new chapter in the history of our beloved region.

“As we gather here in Abuja, the beating heart of our great region, we must remind ourselves of the foundational vision of ECOWAS – a vision of a united, economically robust, and politically stable West Africa.

“It was this dream that inspired our founding fathers to create a community where the barriers of borders would dissolve into corridors of collaboration, where our economic strength would fuel prosperity for all, and where our political unity would stand as a bulwark against external interference.

“Today, as we face challenges and opportunities of a rapidly changing world, this vision remains as critical as ever. Yet, we must also confront the hard truths of our present reality.

“Despite the undeniable strides we have made, significant challenges persist – challenges that demand our immediate attention and decisive action.

“One such challenge is the quest for economic stability in our region. The strength of any economic community lies in its ability to foster trade, attract investment, and create prosperity for its people.

“However, currency volatility, inflation, economic disparities, and the pressures of global financial markets continue to hinder the full realisation of our collective potential.”

According to Akpabio, “the promise of a unified regional currency, a cornerstone of our economic ambitions, holds great potential for simplifying trade, reducing transaction costs, and enhancing the global competitiveness of our businesses.

“Yet, we must be clear-eyed about the path to achieving this – it demands fiscal discipline, monetary coordination, robust financial infrastructure, and mutual economic trust.

“We must be bold in our economic reforms, willing to break free from outdated, fragmented approaches and embrace a truly integrated financial system that reflects the realities of our interconnected economies.

“Moreover, we must strengthen our intra-regional trade and prioritise industrialisation, for without this, a common currency alone will not solve our economic challenges.”

Akpabio noted that the sub-region does not, “need a regional economy that not only consumes but also creates and competes on the global stage.”

This he added, “means supporting small and medium enterprises, investing in modern infrastructure, and leveraging our abundant natural resources to create jobs and wealth for our people.”

He added, “Furthermore, economic stability cannot flourish without political stability. The recent security challenges facing parts of our region, including terrorism, insurgency, political unrest, and organised crime, threaten the very fabric of our collective aspirations.

“We must remain vigilant in defending our democratic institutions, promoting good governance, and ensuring that the rule of law prevails in every corner of our region.

“Our governments must work closely with our regional security apparatus to counter these threats, but we must also address the root causes of instability – unemployment, inequality, tribalism, and lack of education – for it is often in the shadows of despair that extremism takes root.

“We must invest in our youth, create opportunities for our people, and build societies where hope thrives, not fear,” he added.