The Economic Community of West African States(ECOWAS), on Thursday, announced the completion of frameworks for the establishment of its $75 million Renewable Energy and Energy Efficiency Facility.
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Speaking at the opening of the 93rd Ordinary Session of ECOWAS Council of Ministers holding in Abuja, the President of ECOWAS Commission, Dr. Alieu Omar Touray, also disclosed that investment towards improving storage facilities, milling initiatives, and enhanced mechanization in paddy production will gulp about $19 billion.
Commending the progress made so far on the 6,800-kilometre Nigeria-Morocco gas pipeline project, which was part of the integrated projects for the region, Touray listed other projects being undertaken across the Community, including regulation on roaming, direct flight, and water resources.
“A framework document for the establishment of ECOWAS Renewable Energy and Energy Efficiency Facility has been finalized by the ministers. This is a new blended finance facility with an initial amount of $75 million. The objective is to provide grants, loans and guarantees through regular demand-driven competitive calls for proposals, and provide clean energy solutions for the ECOWAS region.
“This regional integrative project aims to build a gas pipeline linking Nigeria to Morocco, feeding ECOWAS member states and Mauritania with future extension to Europe. It is an infrastructure of 6,800 km long, including 5,100 km offshore, with a transport capacity of 30 billion cubic feet of natural gas per year.
“Furthermore, progress has continued to be recorded regarding the implementation of ECOWAS Regulation on Roaming on Public Mobile Communications Networks in the ECOWAS Space. Phased implementation of these roaming tariff rates is progressing through several bilateral arrangements.
“The ECOWAS Roaming is now live in at least, six member states since its adoption in December 2017 by this Council.”
Towards food security, he stated that the regional self-sufficiency in rice production tagged, “Rice Offensive” project which was launched by the Commission in 2014 under ECOWAS Agricultural Policy (ECOWAP), has reached a second cycle with the development of a Second Regional Action Plan (2025-2035) to replace the 2020-2025 plan, due to expire next year.
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According to him, meeting the planned consumption target by 2035 requires a local production of 33 million tons of milled rice.
“This will also require a financial investment of $15 billion to $19 billion of capital expenditures (CAPEX) towards improving storage facilities, milling initiatives, and enhancing mechanization in paddy production.”
On the high cost of air transportation, which tends to frustrate the development of intra-regional air transport, Touray informed that Ministers responsible for air transport met recently to deliberate on a regional strategy for harmonization of charges, fees, and taxes in ECOWAS member states.
“The Act seeks cancellation of all taxes deemed inconsistent with ICAO rules and principles along with a 25 per cent reduction in passenger and security charges. This is a significant development for the business improvement of the regional air transport sector and the facilitation of the movement of persons and goods within the community.
“Furthermore, this year, ECOWAS Commission revived its regional cooperation and integration programme in the water sector, which dated back to 2001. The ministers in charge of water resources met and adopted 14 resolutions relating to the revision of the 2008 West Africa Water Resource Policy; Management of Shared Water Resources in West Africa and Water Infrastructure Development.”
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In another development, Touray decried a decline in income as only 40 per cent of the approved levy was received by the Commission as of the end of October.
“For six consecutive years, the Community levy remittances from member states have been declining. This year, as of October 30, the Community Institutions received only 40 per cent of the approved funds from the Community Levy, thereby hindering the implementation of the Community programmes.”