Nigeria Seeks Strengthened Institutional Capacity for ECOWAS Fiscal Transition Success
Oluchi Chibuzor
The Deputy Director in Charge of Customs Union in Nigeria, Muhammad Kamal has called on member states in the Economic Community of West African States (ECOWAS) to strengthen institutional capacity to drive fiscal transition in the region.
Speaking at the regional meeting to follow up on the publication and implementation of regional directives and supplementary acts in Lagos, Kamal said fiscal transition aligns with the ongoing fiscal and tax policy reforms in Nigeria, which provide the prospect of facilitating sustainable economic growth and resource mobilization with the potential to deliver shared prosperity for Nigerians.
He further stated that regional integration and harmonisation are crucial for West Africa’s economic growth and development, as well as the management of domestic taxation.
He said regional directives and supplementary acts are crucial instruments for fostering and promoting regional economic integration, stability, as well as development within the sub-region.
“The publication of fiscal directives and supplementary acts is a significant step towards achieving this goal. Today, we will be assessing the progress made so far, highlighting the benefits of regional integration, and discussing the specific challenges we face in the publication and implementation of these directives and supplementary acts
“We will also be exploring mechanisms and opportunities for increased cooperation between ECOWAS Member States. This is a critical aspect of our mandate, and we are confident that together, we can overcome the obstacles and achieve our objectives,” he said.
He said despite these challenges hindering regional integration, Nigeria remains committed to overcoming them and ensuring that regional directives and supplementary acts are effectively implemented in Nigeria.
Also speaking, the Commissioner of Economic Affairs and Agriculture of the ECOWAS Commission, Mrs. Massandjé Litse-Toure, called on Heads of States in West African countries to prioritise their tax harmonisation systems to promote economic growth in West Africa.
She explained that regional directives and supplementary acts serve as essential instruments for harmonising tax policies, strengthening fiscal governance, and promoting economic stability across Member States.
She said the ECOWAS Commission has long recognised that the strength of its regional integration depends on the successful alignment of national policies with regional objectives.
She, however, stated that despite the significant progress made, we are also aware of the challenges that continue to impede the effective implementation of these instruments
