- EVALUATION OF CONTRIBUTION OF COMMERCIAL BANK TO THE ECONOMIC DEVELOPMENT OF NIGEIRA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)
- ASSESSMENT OF CONTRIBUTION OF COMMERCIAL BANK TO THE ECONOMIC DEVELOPMENT OF NIGEIRA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)
- ECONOMIC EFFECT OF ADVANCED FREE FRAUD IN THE BANKING SYSTEM IN NIGERIA
- THE ROLE OF SMALL SCALE BUSINESS ON THE ECONOMIC DEVELOPMENT IN NIGERIA (A CASE STUDY OF ALABA INTERNATIONAL MARKETING)
- IMPACTS OF EFFECTIVE FINANCING OF SMALL BUSINESS ENTERPRISES ON NATIONAL ECONOMIC DEVELOPMENT (CASE STUDY OF NIGERIA)
- WORKERS MOTIVATION AND ORGANISATIONAL PERFORMNCE IN THE NATIONAL CENTER OF ECONOMIC MANAGEMENT AND ADMINISTRATION
- AN APPRAISAL OF THE EFFECTIVENESS OF MACROECONOMIC POLICIES IN PROMOTING ECONOMIC GROWTH IN NIGERIA
- ECOWAS AND ECONOMIC INTEGRATION IN WEST AFRICA (1975 – 1998)
- NIGERIA’S ECONOMIC DIPLOMACY AND NATIONAL DEVELOPMENT (1999 – 2007)
- AN ASSESSMENT OF CONTRIBUTION OF COMMERCIAL BANK TO THE ECONOMIC DEVELOPMENT OF NIGEIRA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)
ECONOMIC INTEGRATION IN WEST AFRICA BETWEEN 1975 – 1998 (A CASE STUDY OF ECONOMIC COMMUNITY OF WEST AFRICAN STATES[ECOWAS])
The purpose of this study is to assess the role of Economic Community of West African States (ECOWAS) in the Economic Integration of West African states between 1975 - 1998.
The project work is divided into five Chapters.
Chapter 1 deals with Introduction and Background Information to the study.
Chapter 2 examines with Conceptual Framework and Theory of Cooperation and integration
Chapter 3 discusses the Financial/ Economic Cooperation and Integration, Treaties of integration, Conferences held, Decisions and their Implementation regarding integration.
Chapter 4 focuses on Political Integration in West African States.
Chapter 5 deals with Assessment / Conclusion of the integrations.
TABLE OF CONTENTS
Tables of Contents vi
1.1 Introduction and Background Information 1
1.2 Research Objectives 7
1.3 Purpose of Study 8
1.4 Scope/ Delimitation of Study 8
Notes/ References 10
Conceptual Framework and Theory Of Integration. 11
Notes/ References 20
3.1 Financial/ Economic Cooperation and integration 21
3.2 Treaties of Integration 30
3.3 Conferences held Decision and their implementation regarding
Notes and References 72
Political integration in West African States 73
Notes and References 81
5.1 Assessment / Conclusion of the integration 81
5.2 Recommendations 86
Bibliography / References 90
1.1 INTRODUCTION AND BACKGROUND INFORMATION
Integration in the West African Sub- region has largely been, informed by the integration processes in Western Europe, Latin America, Asia and else where in
The agenda of setting up the ECOWAS has been influenced by global trends. The birth of ECOWAS was in itself a response of member States to the challenges of globalization. On 28th May 1975 when ECOWAS was born in
1. Falling living standards in developing countries.
2. Over - dependence of the region on the advanced economies especially the metropolis
3. The limited spaces for manoeurability by the individual developing countries on the international scene
4 A global system distorted by the bi-polarity divide into which developing countries are caught.
5 A cherished and yet abused principle of national Sovereignty and it linkage with national security and the inviolability of domestic jurisdiction
6. An accompanying paradox of sovereign equality of states and inequality in the ability to act.
7 The realization by developing countries especially of
It is against this background that with the assistance of the limited Nations especially UNECA in Addis - Ababa, a rational framework was agreed i.e the creation of regional economic communities as means of collative self- reliance for sustainable socio - economic development, and as building blocks of an African Economic Community.
Thus the vision the founding fathers of ECOWAS was to create a single regional economic space as a prelude to the continental one, through integration and Collective self - reliance, an economic space with a single market and single currency capable of generating accelerated Socio - economic development and competing more meaningfully in the global market of large trade blocs and uneven patterns of trade between the industrialized North and raw materials-based economics of the South.
By the mid - 1970s many West African Countries were already in the threshold of economic difficulties in the aftermath of the global oil price shock of 1973. Many of the countries in the Sub - region, apart from
There was need for increased foreign financial support it they were to be able to maintain a minimum level of imports to ensure a steady process of economic growth and development . Consequently at it formation, the ECOWAS held a lot of promises as one of the dynamic strategies through which economic under development could be surmounted and the all - pervading poverty in the Sub -region eliminated. This assumption was based on the unique size of the community which has a population of about 150 million people. It was assumed that the large population would serve not just as means for the mobilization of internal resources for industrialization but also as a powerful attraction for the inflow of foreign investment.
However, it has been observed that the ECOWAS has some other special features. It is an integration scheme which cuts across all colonial boundaries, encompassing the Anglophone, Francophone and lusophone countries of the Sub -region. There is no doubt therefore that ECOWAS since it inception in 1975, has contributed immensely in bringing West African governments enterprises organization and people closer to each other. There has been a general sense of development of cooperation and integration for mutual benefits.
The governments, and peoples of one member state have shown increasing interests in the welfare and progress of the government, organizations and people of another
There can be no gain - saying the fact that the process of integration is complex and arduous. This is evident from the cases of other integration arrangement among developed and developing countries such as the European Economics Community (EEC) or the Caribbean Community (CARTCOM) where integration has occurred in gradual Stages. The truth is that integration would only proceed where member states are prepared to make sacarifies on Several levels. The political leaders and other integrators in the Sub – region did undoubtedly make such Sacarifies and Commitments but these were inadequate during the first decade of operation of the community. It is now evident that renewed energies are required and new Path cultivated if a new lease of life was to be given to the Community for its optimal performance .
During the first two decades of integration, much has been learned about the problems and techniques of regional integration among developing countries. In particular, the inherent limitations of orthodox customs unions and of measures for trade liberalization are now widely recognized . It is widely appreciated that effective regional integration demands not only such measures of negative integration but also what Timbergen (1965) terms measures of positive integration These are measures designed to make an integrated market function effectively and promote broader policy objectives.
Although gaps in technical knowledge remain, if the knowledge gained from the integration experience of the past two decades is put to good use of which there are Signs - both established schemes and those in the process of formation will stand a much improved chances of making their potential contribution to development policy.
Secondly, the political context may in some respects have become more favourable. It is often suggested that in the sphere of regional integration it Is not so much technical knowledge that has been lacking but the political will. During the last two decades, the emphases of policy in most African States has been on internal political Consolidation Although these internal pre-occupation have certainly not disappeared the balance may be shifting. In fact, this reflects the new importance attached to changing the international environment and to the attainment of economic objectives through political means. In fact, it simply reflects a more conventional reaction to the impact of world divide recession.
Finally, there appears to be renewed recognition on the part of and agencies and donors of the role that integration is capable of playing, and of the need to provide support for regional projects, policies and perhaps institutions including the much needed development of transport links, if that potential is to be realized.
This could result in regional integration projects. ,
1.2 RESEARCH OBJECTIVES
Broadly, the objective of the study is to attempt an evaluation of ECOWAS integration in the West Africa Sub - region since its inception in 1975.
Specific objectives shall include the following to identify the nature and origin and the factors that precipitated the creation of ECOWAS .
To attempt and evaluate the performance of the role of member states in the formation of ECOWAS .
To elucidate the treaties that led to the creation of ECOWAS.
To appraise some problems that have inhibited the realization of total integration of
To make Suggestion that can help for proper and meaningful political and ECOWAS integration.
1.3 PURPOSE OF STUDY
A Considerable amount of interest and concern have been shown by many scholars and diplomats about the problems and prospects of the Political and Economic integration of the peoples of the West African Sub - region .
As a result of this, my concern therefore appear to stem from the fact that human and materials needed for the consistent and effective implementation of the programme of integration in the West African Sub - region .
It then becomes imperative to make a critical study of its implementation. It is therefore the purpose of this study to find out whether or not there objectives of the founding fathers of ECOWAS have be realized
1.4 SCOPE/ DELIMITATION OF STUDY
To achieve the objective of this Study, the scope shall include:
· A critical explanation and analysis of the general nature and importance of integration in the international System in general and in the African continent in particular.
· A examination of the theory and conceptual frame of the ECOWAS integration and;
· The relevance of political and economic integration in