President Bola Ahmed Tinubu has been re-elected as chairman of the ECOWAS Authority of Heads of States and Government for another one-year term.
Tinubu's first tenure ends on July 9, 2024, but he was elected on Sunday by a unanimous decision of other Heads of Government at the 65th Ordinary Session of the Authority held at the State House, Abuja.
President Tinubu was first elected to the position in Guinea-Bissau on July 9, 2023.
In his acceptance speech, the President said he would focus on consolidating the values of democracy and upholding the interest of the regional body, which will clock 50 years in 2025.
The Chairman of ECOWAS thereafter appointed the President of Senegal, Mr. Bassirou Diomaye Faye, and the President of Togo, Mr. Faure Essozimna Gnassingbé, as Special Envoys to Burkina Faso, Mali, and Niger Republic.
"I have accepted to continue the service to the great members and the great minds that are committed to democratic values and our journey in the region.
"I will continue to serve our interest and build on democratic values and the structure that we inherited. Thank you very much," the President said.
Earlier, Tinubu charged member states to fulfill their financial commitments to the regional body to enable them tackle the prevailing security challenges.
He urged them to honour their financial obligations to enable ECOWAS to meet the expectations and recommendations of its ministers of Defence and Finance.
He noted that by meeting their financial commitments, ECOWAS member states will demonstrate their dedication to regional security and cooperation, enabling the community to better address the security challenges facing West Africa.
He said, "Member states must make extra commitment on providing resources for stabilizing the region.
"To this end, I urge ECOWAS to leverage the capability of the Nigeria National Counter Terrorism Centre (NCTC), which is widely acknowledged as one of the best on the continent.
"The Nigerian government has decided to declare the NCTC as a regional centre to enable all ECOWAS member states to benefit from capacity building and other related opportunities it offers."
President Tinubu also urged ECOWAS member states to unite and develop innovative approaches to unlock the region's economic potential and promote prosperity.
He acknowledged the economic hurdles hindering progress and stressed the need for partnerships, investment and infrastructure development.
Addressing the financial challenges facing ECOWAS, he urged member states to comply with the protocol on community levies to ensure adequate resources for the organization's programmes, assuring of Nigeria's commitment not to default on its financial commitments.