Regional Follow Up Meeting On The Publication And Implementation Of Regional Fiscal Directives And Supplementary Acts
19 Dec, 2024The Economic Community of West African States (ECOWAS) has organized a fpur (4) day Regional Meeting in Lagos, Nigeria, from December 16 to 19, 2024, bringing together representatives from Member States, Africa Tax Administration Forum (ATAF), West Africa Tax Administration Forum (WATAF), West African Union of Tax Institutes (WAUTI), Organization for Economic Co-operation and Development (OECD), the World Bank and other stakeholders to discuss the publication and implementation of Regional Fiscal Harmonization Directives and Supplementary Acts, aimed at promoting fiscal and economic integration across West Africa.
The meeting aims to review the publication and implementation of Regional Fiscal Harmonization Directives and Supplementary Acts designed to promote fiscal and economic integration across West Africa and underscores ECOWAS’s dedication to enhancing regional economic cooperation and fostering sustainable development across West Africa.
In his opening remarks on behalf of Mrs. Massandjé Litse-Toure, ECOWAS Commissioner for Economic Affairs and Agriculture, Mr. Salifou Tiemtore, Director of Customs Union and Taxation, emphasized the important role of regional directives and supplementary acts in harmonizing tax policies, strengthening fiscal governance, and promoting economic stability. “The success of these instruments lies in their implementation, which requires collaborative efforts and steadfast commitment from all stakeholders” He stated.
Representing the Federal Ministry of Finance, Mr. Kamal Dalhat underscored Nigeria’s unwavering commitment to the ECOWAS agenda, emphasizing the importance of aligning regional directives and acts with the country’s ongoing fiscal and tax policy reforms. These reforms aim to promote sustainable economic growth and mobilize resources for shared prosperity across the region.
Over the coming days, the meeting will prioritize key objectives, including facilitating dialogue on the significance of regional directives and their impact on fiscal policies and domestic resource mobilization. Participants will also establish a National Tax Steering Committee to monitor and evaluate fiscal transitions and form a dedicated Working Group to oversee the implementation of these critical instruments.
Additionally, the meeting seeks to address challenges hindering progress, such as institutional capacity gaps, resource constraints, and conflicting national priorities. The ECOWAS Commission and Member States remain optimistic that the deliberations will foster fiscal integration and drive economic growth, benefitting all citizens within the region.
This meeting represents a pivotal step toward advancing fiscal reforms across West Africa. By enhancing resource mobilization, strengthening fiscal governance, and fostering sustainable economic growth, ECOWAS Member States aim to collectively achieve greater prosperity and integration for the region.
