ECOWAS economy is falling to pieces – Chris Ngige

– “There is a big threat to the economy of the ECOWAS sub-region because of our largely mono-economic base.”

– The federal government urged the Organisation of Trade Union of West Africa (OTUWA) to foster diversification of economy in the region

The economy of Economic Community of West African States (ECOWAS) is facing serious problems due to it mono-economic nature, according to Senator Chris Ngige, the minister of labour and employment.

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The alarming news were announced during the opening of the three-day the Organisation of Trade Union of West Africa’s (OTUWA) workshop in Abuja on Wednesday.

Mr Ngige said: “There is a big threat to the economy of the ECOWAS sub-region because of our largely mono-economic base. I am happy that your organisation has been able to weather its challenges. The revived OTUWA must, therefore, help the governments and employers in the sub-region to look elsewhere.

In Nigeria, we must look for other sources of revenue and the most easily identifiable one is agriculture and, of course, mining. We are also diversifying in trade and services.

And because of the availability of fertile land in West Africa, the same thing goes to sister countries. OTUWA, which is our  regional component of the World Union of Trade Unions, must henceforth, lead this campaign for the diversification of the West African economy.”

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The minister further called on the OTUWA to assist the governments in the region in developing the required skills for the full maximization of the utility of their cash crops by enhancing local processing of the raw forms into finished products.

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