The Chairman of the Administration and Finance Committee (AFC) of ECOWAS, Yakubu A. Dadu, has presented before ECOWAS Parliamentarians the draft 2024 Consolidated Community Budget of 397,215,748 units of account – UA, representing a decrease of 5% compared to the 2023 budget of 418, 072, 408 UA, for the Parliament’s consideration.
The 2023 budget saw an increase of about 24, 460, 009 UA, representing 6 percent when compared to the approved budget of 2022 of the sum of 393, 612, 400 UA.
Consequently, the Parliament referred it to an Ad hoc Committee, set up by the plenary, in accordance with the Parliament’s rule of procedure. It is chaired by Ahmed Idris Wase, first deputy speaker of the ECOWAS Parliament.
The Committee would scrutinize the draft budget and report to the plenary with its opinion and recommendations for adoption.
The 2024 draft budget allocations are made to the ECOWAS Parliament (23, 215, 934 U.A), the ECOWAS Court of Justice (16, 417, 047 U.A), the West Africa Health Organisation (62, 689, 949 UA), the intergovernmental Group against Money Laundering, GIABA (12, 017, 701 UA), the Office of the Auditor General, ECOWAS Commission, special programs and interventions in Member States, and Peace and Security.
Presenting the budget estimates, at the start of the ongoing Parliament’s Second Ordinary Session in the 2023 Legislative Year, also known as the Budget Session, Yakubu A. Dadu, Chairman of the AFC and Head of the Ecowas National Office in Nigeria, said the AFC received a macroeconomic analysis of the sub-region, that provided it with the current economic realities of the sub-region.
“The 2024 draft budget is also influenced by factors, such as the dwindling resources, especially in the declining in the Community Levy proceeds, which accounts for 69.2 percent of funding, adopting and implementation of various projects and programmes in the Ecowas institutions and staffing issues in Community institutions,” said Dadu.
He told lawmakers that the lack of staff has hindered the performance of the Community, thereby affecting the output and tends to impede the integration programme.
“With that, the AFC had no option than to push for the implementation of the Council’s decision in Bissau for Ecowas institutions to accelerate the recruitment process.”
The President of the Commission, Dr Omar Alieu Touray said the draft budget takes into account the strategic orientations given by the ECOWAS Heads of State and Government to rationalize expenditures for a flexible, effective and efficient ECOWAS.
“It is as realistic as possible in view of the plethora of challenges confronting our region and the world at large.
The budget prioritises activities that have an impact on our populations and that can complement the efforts made by our Member States to mitigate the negative effects of the Russia-Ukraine crisis, the war in the Middle East, the rise in inflation, the impact of regional insecurity and the sanctions applied on Member States in transition, among others,” said the ECOWAS Commission President.
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 of ECOWAS, Yakubu A. Dadu, has presented before ECOWAS Parliamentarians the draft 2024 Consolidated Community Budget of 397,215,748 units of account – UA, representing a decrease of 5% compared to the 2023 budget of 418, 072, 408 UA, for the Parliament's consideration.){kind=link}