ECONOMIC GROUPINGS A. ECOWAS B NIGERBASIN . COMMISSION (NBC) C. LAKECHADBASIN COMMISSION (LCBC) D. MANO-RIVER UNION E. EUROPEAN UNION F. WEST AFRICAN CLEARING HOUSE

Economic groupings are organizations where countries come together to promote trade, cooperation, and development among member states. Think of them as clubs where nations work as a team instead of competing alone. ECOWAS, established in 1975 with Nigeria as a founding member, aims to create a common market and improve living standards across West Africa. Nigeria benefits from ECOWAS by trading goods like textiles and agricultural products with neighbors like Ghana and Benin without heavy tariffs. The European Union similarly unites European nations for economic and political cooperation. These groupings face challenges including weak currencies, poor infrastructure, and member states not following agreements. The West African Clearing House helps member countries settle trade debts efficiently.

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