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WEEK 10
TOPIC: ECONOMIC GROUPINGS IN WEST AFRICA
CONTENT:
History, member countries, objectives, achievement, problems
MEANING OF ECONOMIC GROUPING
Economic grouping may be defined as the coming together of different Countries with a common economic interest and goals with a view to promoting economic cooperation and development among member States. It also protects and promotes the economic and business interest of members as well as stimulating the socio-economic cum cultural development and cooperation among members.
In the West African sub-region, some of the economic groupings in existence include:
- Economic Community of West African States,
- The Lake Chad Basin Commission,
- Niger Basin Commission
- West African Clearing House etc.
ECONOMIC COMMUNITY OF WEST AFRICAN STATES (ECOWAS):
FORMATION
Economic Community of West African States (ECOWAS) was formed purposely to promote cooperation, development and economic integration of the West African sub-region. ECOWAS was established on May, 1975, by the signing of the TREATY by fifteen West African Nations.
ECOWAS MEMBER COUNTRIES:
- Nigeria
- Ghana
- Senegal
- Niger Republic
- Burkina Faso
- Cape Verde
- Benin Republic
- Cote d’Ivoire
- Liberia
- Togo
- Mali
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