Niamey, Niger –
A leading Nigerien political analyst, Issoufou Boubacar Kado Magagi, has stated that the Alliance of Sahel States (AES) — comprised of Mali, Burkina Faso, and Niger — stands to gain significantly by withdrawing from the West African Economic and Monetary Union (WAEMU) and pursuing closer ties with BRICS nations.
The remarks follow the walkout of AES delegations from a WAEMU Council of Ministers session held on July 11 in Togo, in protest of what they described as French dominance over the regional bloc.
Magagi argued that now is the “right moment” for the AES to:
🟠 Create a common currency — a core part of the AES founding vision, enabling the sale of natural resources like uranium, oil, and gold in a sovereign currency;
🟠 Deepen ties with BRICS — engaging with emerging economies that promote local currencies and resist the dominance of the dollar and euro;
🟠 Assert true sovereignty — which, according to Magagi, remains impossible while monetary policy is dictated externally, particularly by former colonial powers.
“When you create a currency, the more you sell, the more you prosper,” he noted, emphasizing how resource-backed monetary independence could boost the Sahel’s global leverage.
Magagi also cautioned Sahelian leaders against relying on economic strategies imposed by the World Bank or the IMF, and instead urged them to develop institutional reforms based on local expertise and regional realities.
The debate over WAEMU membership comes amid growing calls for economic and political self-determination across Francophone West Africa, particularly among nations experiencing military-led transitions.
