Subscribe email

Keep Up to Date with the Most Important Library News

By pressing the Subscribe button, you confirm that you have read and are agreeing to receiving newsletters from the National Assembly Library Trust Fund.

Deputy Speaker Calls for Trade Evolution at 2026 ECOWAS Session

At the 2026 First Extraordinary Session of the Economic Community of West African States Parliament (ECOWAS Parliament) held on Monday, February 23, 2026, Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu contributed to discussions on deepening regional integration through the African Continental Free Trade Area (AfCFTA).

With emphasis on Functional integration as a key element to ECOWAS Trade Expansion, Kalu recommended an urgent shift from “paper integration” to “functional integration” in the implementation of the African Continental Free Trade Area within the Economic Community of West African States sub-region.

While intra-African trade reached $220.3 billion (16%) in 2025, intra-ECOWAS trade remains stalled at 11.5%—despite a $3.4 trillion market potential within our sub-region. We must close the gap between aspiration and reality.

-Rt. Hon. Benjamin Kalu

The Deputy Speaker asserted that the AfCFTA is no longer merely a trade agreement, but rather Africa’s strategic engine for industrial resilience. He maintains, however, that infrastructure alone is insufficient; the Abidjan–Lagos Corridor must transition from promise to performance. Furthermore, Kalu emphasized that the implementation of enforceable mechanisms to eliminate non-tariff barriers and dismantle administrative bottlenecks—which currently weaken regional supply chains—has become a matter of urgency.

On the subject of monetary integration, Kalu advocated for a pragmatic approach. Rather than waiting indefinitely for the “Eco,” he suggested prioritizing the Pan-African Payment and Settlement System (PAPSS). He described this digital platform as a vital tool to enable instant local currency settlements, reduce dollar dependency, and save the continent billions in transaction costs annually. Ultimately, Kalu contends that Africa must trade with itself to thrive, and that functional integration is the only viable path forward.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *