The Economic Community of West African States (ECOWAS) was established in May 1975. It has sixteen members among which are Nigeria, Togo, Sierra Leone, Cape Verde, Guinea, Ghana, Liberia, Mali, Mauritania, Burkina Faso and Benin Republic.
AIMS/OBJECTIVES OF ECOWAS
i) To promote co-operation and development in all economic fields.
ii) To promote economic stability.
iv) To reduce or eliminate any barrier to free trade and creation of free trade zone in member states.
v) To establish a common development of member states.
vi) Promotion of economic development of member states.
vii) Promotion of research and agricultural enterprises.
ACHIEVEMENTS OF ECOWAS
i) Easy flow of trade among member states.
ii) Free trade with little or no barrier.
iii) Good road network.
iv) Structural integration.
v) Formation of ECOMOG (ECOWAS Monitoring Group)
vi) Establishment of ECO BANK in 1990
vii) Increase in bargaining power.
viii) Availability of labour to member states
PROBLEMS OF ECOWAS
i) Problems of domination by the big countries.
ii) Influx of aliens.
iii) Lack of funds
iv) Apathy towards implementation of some resolutions passed by the community.
v) Political instability in the member countries.
vi) Dependence on foreign powers.
vii) Lack of commitment.
viii) Problem of language.
ix) Differences in currency.
x) Escalation of smuggling
xi) Border clashes among member states.