Former President Olusegun Obasanjo on Monday said the introduction of single currency by West African states would promote economic integration and progress within the region.
Speaking when he hosted the President, Economic Community of West African States Commission, Marcel de Souza, in Abeokuta, Ogun State, Obasanjo said it was high time the organisation started using single currency.
He said: “We have decided that our unit of currency will be ‘eco’. Let us now start using eco. Let eco become our unit of currency.
“Single currency unit for ECOWAS states will bring about more development and growth among the states.”
The former president also said a deeper economic integration among members of the ECOWAS would gradually stem the tide of youths’ unemployment in the region.
Obasanjo stressed that economic integration of West African countries would guarantee development of the sub-region.
He advocated a reform that would enable member countries to move beyond movement of goods and services.
Obasanjo warned that the entire African continent would be sitting on a keg of gun powder as long as its leaders refused to pay adequate attention to youth unemployment.
The former president, however, declared that he would always make himself available for the ECOWAS services.
Obasanjo said: “I will continue to make myself available in the service of ECOWAS.
“Wherever you think my services will be needed, call upon me and I am ready.
“What is important is that these communities of 320 million people will be lifted up, these communities should be marching along and we should get rid of internal conflicts.”
Earlier, de-Souza said he was in Abeokuta to introduce himself to Obasanjo as the newly appointed President of the Commission and to also get his advice and orientation on matters concerning ECOWAS sub-region.
He emphasised that he was inclined to visit Obasanjo because the former Nigerian leader had always showed commitment to ECOWAS, adding that he came purposely to seek guidance.
He said: “Obasanjo is a special ECOWAS envoy to Guinea-Bissau.
“We have come to also find out if Obasanjo has come out with any solution to the crisis in Guinea-Bissau.”
NAN
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