Nigeria Fully Clears ECOWAS Levies For The First Time In 19 Years
In a historic move, Nigeria has settled its outstanding levies to the Economic Community of West African States (ECOWAS) for the first time in 19 years, paying ₦85 billion and $54 million.
The announcement was made by Omar Touray, President of the ECOWAS Commission, during his report at the ongoing 66th Ordinary Summit of the ECOWAS Authority of Heads of State and Government in Abuja.
Touray confirmed that the payments, made on Friday, December 13, 2024, cover 100 percent of Nigeria’s community levy obligations for 2023 and up to July 2024.
“Our community levy remittances have been slow, with many member states falling behind in their commitments. However, for the first time in 19 years, Nigeria has paid 100 percent of its levies,” Touray stated, commending President Bola Ahmed Tinubu and the Nigerian government for their leadership and dedication to the ECOWAS vision.
The ECOWAS levy, a critical funding mechanism for the regional bloc, has often seen delayed remittances from member states, impacting its operations. Nigeria’s full payment is a significant boost to the community’s financial health and regional development efforts.
Touray added, “This payment underscores the leadership and commitment of President Tinubu, his government, and the Nigerian people to the ECOWAS community. It also reflects confidence in the institution I have been privileged to lead since 2022. My colleagues and I are deeply grateful.”
Addressing the summit, President Tinubu, who presided over the meeting in his capacity as ECOWAS Chairman, emphasized the importance of unity among member states. He highlighted the bloc’s shared vision of creating a community that serves its citizens amid growing global challenges.
“The world is grappling with crises ranging from conflicts in Sudan and the Middle East to violent extremism and environmental challenges. Many of these issues have impacted our region, underscoring the need for us to work together,” Tinubu said.
The 66th Ordinary Summit brought together heads of state and key stakeholders to discuss the region’s pressing issues, including economic development, security, and governance. Nigeria’s full settlement of its levies reinforces its role as a leader within the ECOWAS community and a key player in regional integration.
