Significant impact on the economies:

Member countries of ECOWAS stand to derive benefits similar to those of EU if its objectives are vigorously pursued.

However, the Community is facing a number of problems which prevent it from making significant impact on the economies of the member countries. These include:

i. The low level of trade among member countries as a result of similarity of products. All countries in West Africa (except Nigeria, to some extent) depend heavily on their agricultural sector.

ii. Immobility of factors of production between the countries due to poor infrastructural facilities coupled with language barrier.

iii. Closer socio-economic ties with former colonial administrators. It is difficult for the Community to adopt discriminatory tariff policies that could have adverse consequences on the economies of such countries i.e. United Kingdom, France and Portugal.

iv. How to distribute benefits of integration and compensate countries for loss in revenue due to abolition of tariffs.

v. Differences in social, monetary and commercial policies of the member countries constitute a major obstacle to international trade and joint investment programmes.

vi. Disparities in the levels of socio-economic activities and fear of domination by some countries.