ECOWAS - Economic Community of West African States

02/23/2024 | Press release | Distributed by Public on 02/23/2024 02:20

Development of the Geo-extractives Sector in the Region: 4th Edition of ECOWAS Mining & Petroleum Forum opens in Cotonou

Development of the Geo-extractives Sector in the Region: 4th Edition of ECOWAS Mining & Petroleum Forum opens in Cotonou

23 Feb, 2024

ECOWAS and the Government of Republic of Benin hosts the 4th Edition of ECOWAS Mining & Petroleum Forum (ECOMOF 2024). The ECOMOF which opens today, February 22, 2024, will hold till to February 24, in Cotonou, Republic of Benin. ECOMOF was established by the Authority of ECOWAS Heads of State and Government in 2012 as a biennial platform for regional cooperation in the development of the geo-extractives sector in West Africa.

The ECOWAS Mining and Petroleum Forum (ECOMOF 2024) opens at the Palais de Congress, in Cotonou under the Theme - "Geo-extractive resources and technologies: what are the strategies to pool for creation of value addition in West Africa?". The theme sets the tone for how well the Community wants the mining and petroleum industries to enhance the collective well-being of the citizenry within the context of the region's industrialization drive.

While welcoming participants to the Forum, H.E. Samou Seïdou Adambi, Minister for Mines, Water and Energy of the Republic of Benin, stressed the need for practicable and strong policies for the development of the Mining and petroleum sector in the Region. He added that there's need for strong financing of the Sector.

H.E. Damtien Tchintchibidja, the Vice President of the ECOWAS Commission in her address highlighted that the main objective of ECOWAS as indicated in the Revised Treaty of 1993is the promotion of cooperation and regional integration to ensure socio-economic development of the Region.

The Vice President added that "the geo-extractive sector occupies a special place in the development policies and strategies of our Community given the vast potential it offers". The abundance of geo-extractive resources she said, "has also placed the Community at the heart of global issues in terms of geo-strategies".

In his opening Statement, H.E. Mr. Abdoulaye Bio Tchané, Minister of State for Development and Coordination of the Actions of the Government of the Republic of Benin, stressed the need to pull resources together to develop the geo-extractive sector in the Region.

ECOMOF as a platform for collaborative-dialoguing and exhibition of the mining and petroleum sectors' potential in the region, is designed for the key stakeholders to continuously and inclusively, identify appropriate mechanisms to have equity in the development, management, and distribution of the optimum benefits that arise and will continue to arise from the mining and petroleum sectors.

Participants at the Forum include Ministers of Mining and Petroleum and Experts from ECOWAS Member States, Industry Experts, Investors and major stakeholders from the Mining and Petroleum Sectors.

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