ECOWAS leaders have reaffirmed their commitment to regional unity, peace and sustainable development, adopting a Declaration of Commitment to strengthen cooperation across West Africa.
The decision was reached at the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Lungi, Sierra Leone, where leaders also renewed support for the planned launch of the ECO single currency in 2027.
At the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Lungi, Sierra Leone, the leaders reviewed reports on the state of the Community, regional security, economic integration, and preparations for the ECOWAS single currency.
The Authority commended the ECOWAS Commission, member states, and regional institutions for sustaining integration efforts despite global economic and geopolitical challenges.
According to the communiqué, the leaders praised recommendations aimed at “consolidating political stability, peace and security and deepening the economic and monetary integration process within the region.”
Positive Economic Outlook
The Authority noted the resilience of ECOWAS economies in 2025 and expressed optimism about growth prospects in 2026.
“The outlook remains favourable, supported by declining inflation, a reduced public debt-to-GDP ratio, and a widening current account surplus, notwithstanding a deterioration in the fiscal deficit,” the communiqué stated.
ECO Single Currency
ECOWAS leaders reaffirmed their commitment to launching the ECO single currency in 2027 as a major step toward deeper regional economic integration.
They agreed that the currency would initially be adopted by countries that meet the required convergence criteria, while support would be provided to other member states to facilitate their future participation.
The Authority also welcomed the registration of the name “ECO” with the African Intellectual Property Organization and directed the ECOWAS Commission to secure additional trademark registrations with relevant regional and international bodies.
Guinea Joins Currency Task Force
The leaders approved Guinea’s request to join the Presidential Task Force on the ECOWAS Single Currency Programme and instructed the ECOWAS Commission to convene a meeting of the task force before the December 2026 summit.
They further directed the Commission and the West African Monetary Agency to intensify consultations with central bank governors to resolve outstanding issues ahead of the planned 2027 launch of the ECO.
