On Monday, 16th of June 2025, in Monrovia, Liberia, the Economic Community of West African States (ECOWAS), has commenced five days of Delocalized Sitting of the Joint Committee on Administration, Finance and Budget/Macroeconomic Policy and Economic Research, Public Accounts, Industry and Private, with the conscious view of Assessing the effectiveness of the ECOWAS Investment Policy as an Instrument for addressing the rising levels of unemployment in the Sub-region.
In his welcome address, the Liberian Delegation to the ECOWAS Parliament Senator Edwin Melvin Snowe Jr., on behalf of His Excellency President Joseph Nyumah Boakai, the Government and People of Liberia, extended to you a heartfelt welcome to Monrovia, their nation’s capital and a city steeped in history, resilience, and unity. As Head of the Liberian Delegation to the ECOWAS Parliament, he said it was with both an honour and a privilege to receive such a distinguished gathering of parliamentarians, policy makers, and regional stakeholders in Liberia-Monrovia.
“We are truly pleased to host this crucial Joint Committee Meeting, and we hope your stay in Liberia will be as rewarding and memorable as the work you will undertake”, he said. Senator Snowe continued that this Meeting of the Joint Committee on Administration, Finance & Budget, Public Accounts, Macroeconomic Policy & Economic Research, Industry and Private Sector, held under the theme, “Assessing the Effectiveness of the ECOWAS Investment Policy as a Panacea for Addressing the Rising Levels of Unemployment in the Sub Region,” could not be more timely or more urgent than now. He affirmed that across the sub-region, unemployment especially among youth is not just an economic concern, but a social emergency that undermines peace, fuels migration, and erodes hope.
He referenced recent data cited in the concept note, which depicts that youth unemployment in West Africa ranks among the highest in the world, despite the abundance of natural resources, human capital, and entrepreneurial spirit in the region. Consequently, he expressed optimism that the Joint Committee Meeting is a critical platform to evaluate the ECOWAS Investment Policy (EIP), to understand its strengths, identify its limitations, and propose practical, impactful reforms.
He concluded by acknowledging their shared task as a regional parliament in ensuring that this policy truly delivers on its promise by attracting quality investment, supporting private sector growth, and creating decent, sustainable jobs for their people.
Delivering Speech on behalf of the Speaker of the ECOWAS Parliament, the 4th Deputy Speaker of ECOWAS Parliament, Hon. Billay G. Tunkara, extended warm greetings on behalf of the Right Honourable Speaker of the ECOWAS Parliament, Hadja Memounatou Ibrahima, who expresses her profound appreciation to the government and good people of the Republic of Liberia for their gracious hospitality and support in hosting this important delocalised joint committee meeting.
He continued that the past decade has witnessed remarkable economic growth within the sub-region, driven by increased trade, infrastructural development, and regional cooperation. However, he added that this growth has not been sufficiently inclusive, and the persistent rise in unemployment, particularly among youth, remains a daunting challenge. According to recent data, he referenced that unemployment rates in ECOWAS countries average around 15%, with youth unemployment reaching alarming levels of up to 30% in some nations.
He acknowledged that the present situation on unemployment poses a threat to social cohesion, economic stability, and the very foundation of the regional integration efforts. If left unaddressed, he said it could undermine the prosperity they aspire to achieve through initiatives like the ECOWAS Vision 2050 and beyond.
In his Opening Address, the Chairman of the Committee on the Macroeconomic Policy and Economic Research, Alhagie S. Darbo, On behalf of his colleague co-chairs and members of the Joint Committee, welcomed all and sundry to such important meeting of the Joint Committee on Administration, Finance and Budget / Macroeconomic Policy and Economic Research / Public Accounts/ Industry and Private Sector, which is focused on a matter of critical importance to their region: The ECOWAS Investment Policy as an Instrument for Job Creation.
He reminded all Members of the ECOWAS Parliament that the ECOWAS Investment Policy, adopted to foster a harmonized and transparent investment environment across West Africa, provides an important framework to attract private capital, stimulate intra-regional trade, and promote inclusive economic transformation. However, he said the policy must now go further from aspiration to implementation, from growth to inclusive development, from investment attraction to job creation.
“Dear colleagues, as a regional Parliament, our role is to ensure that the implementation of this policy reflects national priorities, responds to the needs of our citizens, and aligns with our regional integration goals.”, he urged.
The Chairman reaffirmed his Committee’s unwavering commitment to supporting policy frameworks that deliver real development outcomes. “We are here to listen, to learn, and to lead the charge for reforms that ensure that investment is more impactful in the lives of our community citizens”.
In her Goodwill Message, Senator Nyonblee Karnga-Lawrence, President of the Pro Tempore of the Senate of Liberia, commended the initiative for ECOWAS to host such a meeting in Liberia, which is geared toward addressing the perennial unemployment rate in the ECOWAS Region. As they gathered to deliberate on the possibilities of addressing unemployment within the region, Senator Karnga-Lawrence equally called on Members of the ECOWAS Parliament to be vigilant in terms of providing security across West Africa. She expressed unending optimism that the meeting would help eradicate unemployment within the region. To also ensure a successful outcome of the meeting, she made a clarion call for an inclusive economic policy that would leave no one behind.
The Speaker of the Liberian Parliament, Hon. Richard Koon, and the Minister of Foreign Affairs of the Republic of Liberia, Madam Sara Beysolow Nyanti, were unavoidably absent, but they sent representatives to make statements on their behalf since they were busy with other important state functions.