The Economic Community of West African States (ECOWAS) has alerted that the region faces a potential loss of projects worth $500 million should sanctions on Mali, Niger, and Burkina Faso persist.Following the recent military takeovers in these countries, ECOWAS had suspended sanctions, urging for dialogue and negotiations to resolve tensions.

However, if the sanctions were not fully lifted, it warned of dire consequences.The withdrawal of these member states could lead to the suspension of all ECOWAS projects, affecting immigration statuses, business setups, and travel within the region. Additionally, citizens may no longer benefit from ECOWAS arrangements, such as passport usage and vehicle insurance.

Furthermore, the departure of these countries, representing 17.4% of the region’s population and 10% of its GDP, would shrink the market size of ECOWAS.In addition to economic ramifications, ECOWAS highlighted security concerns, fearing an upsurge in terrorist activities if the countries decide to exit the regional bloc.

The loss of cooperation in counterterrorism efforts, intelligence sharing, and participation in regional initiatives could exacerbate the security situation in the region.This development follows ECOWAS’s recent decision to partially lift sanctions on Niger Republic, Mali, and Guinea, while maintaining political and targeted sanctions on Niger.

The resolution was reached during an extraordinary summit addressing the peace, political, and security situation in the sub-region.The sanctions, imposed after a military coup in Niger Republic in July 2023, included border closures, flight restrictions, and financial transaction suspensions between ECOWAS member states and Niger Republic.

As tensions persist, the fate of these sanctions and their broader implications for regional stability remain uncertain.