Bola Tinubu, the Chairman of the Economic Community of West African States (ECOWAS) Authority of Heads of State and Government and Nigerian President, has emphasized the importance of financial commitments to effectively tackle security challenges in the region. Speaking at the 65th Ordinary Session of ECOWAS, Tinubu urged member states to honor their financial obligations to enable ECOWAS to meet the expectations and recommendations of its ministers of Defense and Finance.

He highlighted that substantial financial resources are crucial for operationalizing the ECOWAS Standby Force (ESF) and combating terrorism, banditry, and violent extremism. By fulfilling these commitments, ECOWAS member states can demonstrate their dedication to regional security and cooperation, ultimately better addressing the security challenges facing West Africa.

He said: “Let me underscore that a peaceful and secure society is essential for achieving our potentials, move to operationalise the ECOWAS Standby Force (ESF) in combating terrorism, I must emphasise that the success of this plan requires, not only strong political will, but also substantial financial resources.

We must therefore ensure that we meet the expectations and recommendations set forth by our ministers of Defense and Finance in order to counter the insecurity and stabilise our region. Member states must make extra commitment on providing resources for stabilizing the region.

“To this end, I urge ECOWAS to leverage on the capability of the Nigeria National Counter Terrorism Center (NCTC), which is widely acknowledge as one of the best on the continent.

“The Nigerian government has decided to declare the NCTC as a regional centre to enable all ECOWAS member states benefit from capacity building and other related opportunities it offers.

“Your excellencies, dear heads of state, I urge those of you with time to visit the centre before your departure and assess first-hand on the facilities and the capabilities of NCTC”

Tinubu also encouraged ECOWAS member states to unite and develop innovative approaches to unlock the region’s economic potential and promote prosperity. He acknowledged economic hurdles hindering progress and stressed the need for partnerships, investment, and infrastructure development. A conducive business environment, he emphasized, is essential for stimulating growth and building resilience against external shocks.

President Tinubu further said: “I’m also fully aware of other challenges confronting our region, especially the economic hurdles that hinder our progress to elevate our people from poverty to prosperity. It is imperative that we unite as a community and develop innovative approaches to unleash our vast economic potentials.

“We must continue to identify and develop partnerships that promote investment in key sectors and promote regional trade.

“Furthermore we must invest in our infrastructure and cultivate a conducive business environment to empower our community to stimulate growth and build resilience against external shock. Together we can pave the way for a prosperous future for all ECOWAS countries

“I also acknowledge the financial challenges of our organization. Difficult economic conditions and consistent payment of financial commitment to ECOWAS have contributed to the current plight, to ensure ECOWAS has adequate resources for its programmes and activities, I urge all member states to ensure full compliance to the protocol on the community levy.

“Nigeria, under my leadership, is committed to leading by example by remitting its collected levies to the organisation”