Nigeria has achieved a historic milestone by fully settling its financial obligations to the Economic Community of West African States (ECOWAS) for the first time in nearly two decades.
In a remarkable move, the country made a complete payment of its community levy, totaling ₦84 billion and $54 million, covering both the entirety of 2023 and extending into 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, which took place at the State House in Abuja.
Dr. Touray highlighted the significance of this payment, made on Friday, December 13, 2024, underscoring it as a major step in Nigeria’s commitment to regional integration and development.
He attributed the achievement to the leadership and dedication of President Bola Ahmed Tinubu, as well as the Nigerian government and its citizens, acknowledging Nigeria’s central role in the ECOWAS community.
Dr. Touray also saw the payment as a demonstration of confidence in both the vision of the organization and his leadership as ECOWAS Commission President since 2022.
“The good news is that, for the first time in 19 years, Nigeria has decided to pay 100 percent of its community levy. This includes ₦84 billion and $54 million, covering the full 2023 levy and part of the 2024 levy up to July. The payment was made on Friday, December 13, 2024,” Dr. Touray stated.
He continued, “This payment underscores the leadership and commitment of President Bola Ahmed Tinubu, the government, and the people of Nigeria to the ECOWAS community.
On a more personal note, it signifies a mark of confidence in the ECOWAS organization that I have had the privilege of leading since 2022. My colleagues and I are deeply grateful.”
