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1997 WAEC Commerce Theory (a) State five objectives of establishing the Economic Community of West African States (b) Give...

Commerce
WAEC 1997

(a) State five objectives of establishing the Economic Community of West African States

(b) Give five reasons why the Lake Chad Basin Commission was established. 
 

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Explanation

(a) The objectives of establishing ECOWAS are:

(i) To promote co-operation and development in all fields of economic activity.

(ii) Raise the standard of living of its people.

(iii) To increase and maintain economic stability in the region.

(iv) To have regional economic co-operation.

(v) To abolish obstacles to the free movement of persons, services and capital between member states.

(vi) To harmonise monetary policies as required for the proper functioning of the community.

(vii) To eliminate customs duties and other charges of equivalent effect between member states in respect of importation and exportation of goods.

(viii) To promote sporting activities.

(ix) To maintain political stability.

(x) To help promote international unity.

(b) The Lake Chad Basin Commission was established for the following reasons:

(i) To maintain liaison with members with a view to more effective use of the waters of the basin.

(ii) To undertake development of underground water resources for multiple uses.

(iii) To enhance the agricultural potentials of Lake Chad Basin area for irrigation.

(iv) To contract and maintain dams, wells, boreholes, drainages and irrigation system.

(v) To control pollution of rivers and lakes.

(vi)To teach farmers modern farming methods.

(vii) To draw up common rules of navigation.

(viii) To undertake projects for control of flood and erosion.

(ix) To develop irrigation system for crop and livestock production. 
 


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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts