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In a landmark development, Nigeria has fulfilled 100 percent of its financial obligations to the Economic Community of West African States (ECOWAS), making a full payment of its community levy for the first time in nearly two decades.
The payment, amounting to ₦84 billion and $54 million covers the entirety of 2023 and extends to July 2024.
The announcement was made by Dr. Omar Touray, President of the ECOWAS Commission, during the 66th Ordinary Summit of the ECOWAS Authority of Heads of State and Government, held at the State House, Abuja.
He emphasised that the payment, made on Friday, December 13, 2024, marked a significant milestone in Nigeria’s commitment to regional integration and development.
Dr. Touray attributed the achievement to the leadership and dedication of President Bola Ahmed Tinubu, as well as the Nigerian government and its citizens, highlighting the pivotal role Nigeria plays within the ECOWAS community.
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He also noted that the payment signaled confidence in the organization’s vision and his tenure as ECOWAS Commission President, which began in 2022.
“The good news is that for the first time in 19 years, Nigeria has decided to pay 100 percent of its community levy up to 2023, Nigeria paid ₦84 billion and $54 million, representing 100 percent of the 2023 levy and the levy of 2024 up to July 2024. The money was paid on Friday, December 13, 2024.
“This payment underscores the leadership and commitment of President Bola Ahmed Tinubu, the government and the people of Nigeria to the ECOWAS community.
“At a more personal level, it underscores a mark of confidence in the ECOWAS that I have been privileged to led since 2022. My colleagues and I are deeply grateful”, Touray said.
