Niger: Study reports on the impacts of ECOWAS sanctions on the economy
To assess the economic sanctions’ impact from both the ECOWAS and the West African Economic and Monetary Union (WAEMU) on the Nigerien economy, especially within the private sector, the Nigerien government has established a structure to conduct studies on these sanctions’ impacts and propose accompanying measures.
This Monday, the Prime Minister and Minister of Finance, Ali Mahamane Lamine, received reports resulting from the work carried out by eminent figures from the business world, across all sectors, grouped into two ad hoc reflection committees established for the period from October 2023 to January 2024.
The main objective is to promote the emergence of a dynamic private sector to make it the main pillar of national economic development. The aim is to create optimal conditions to promote a dynamic and competitive private sector in the medium and long term.
Several missions have been assigned to these committees, including analyzing the private sector’s situation to identify its strengths, weaknesses, threats, and opportunities; assessing the economic, financial, and social impacts of the sanctions imposed on Niger by the ECOWAS, WAEMU, and other partners of the country following the events of July 2023; formulating recommendations to mitigate the impact of these sanctions to ensure the survival and sustainability of businesses.
Furthermore, the commission is tasked with analyzing the negative effects of Niger’s withdrawal from the ECOWAS on economic, fiscal, customs, and the free movement of goods and people; formulating recommendations to support private sector activities in this new context; examining the advantages and disadvantages of the Nigerien private sector’s position within the framework of the ECOWAS Economic Space Agreement (ESEA); and finally, outlining a vision for the private sector for economic development.
After reviewing these reports, the Prime Minister and Minister of Economy and Finance expressed gratitude and congratulations to those who contributed to their preparation. He also affirmed that the government is committed to implementing the recommendations to achieve the set objectives.
