Nigeria achieves historic full payment of ECOWAS levy after 19 Years
For the first time in 19 years, Nigeria has fully settled its financial obligations to the Economic Community of West African States (ECOWAS), marking a significant milestone in its commitment to regional cooperation and development.
The payment, amounting to ₦84 billion and $54 million, covers Nigeria’s community levy contributions for 2023 and extends through 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. The summit took place on Sunday at the Old Banquet Hall of the Presidential Villa in Abuja.
Dr. Touray hailed the payment, finalized on Friday, December 13, 2024, as a landmark moment for the regional bloc.
“For the first time in 19 years, Nigeria has paid 100 percent of its community levy, covering 2023 and extending to July 2024. The total payment amounts to ₦84 billion and $54 million. This underscores the leadership and dedication of President Bola Ahmed Tinubu, the government, and the people of Nigeria to the ECOWAS community,” he said.
He credited the achievement to President Tinubu’s leadership, emphasizing that the administration had prioritized fulfilling Nigeria’s obligations to ECOWAS.
Dr. Touray also described the payment as a reflection of confidence in the organization’s vision and the reforms undertaken during his tenure as ECOWAS Commission President, which began in 2022.
“This payment is a mark of confidence in the ECOWAS that I have been privileged to lead since 2022. My colleagues and I are deeply grateful for Nigeria’s steadfast support,” Dr. Touray added.
As the largest economy and a founding member of ECOWAS, Nigeria has a vital role in promoting economic integration, political stability, and security within the region. By meeting its financial commitments, Nigeria reaffirms its leadership in the West African bloc and sets an example for other member states.
The payment symbolizes Nigeria’s dedication to strengthening regional collaboration and advancing ECOWAS’s shared goals for the prosperity of all member nations.
Nigeria achieves historic full payment of ECOWAS levy after 19 Years
For the first time in 19 years, Nigeria has fully settled its financial obligations to the Economic Community of West African States (ECOWAS), marking a significant milestone in its commitment to regional cooperation and development.
The payment, amounting to ₦84 billion and $54 million, covers Nigeria’s community levy contributions for 2023 and extends through 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. The summit took place on Sunday at the Old Banquet Hall of the Presidential Villa in Abuja.
Dr. Touray hailed the payment, finalized on Friday, December 13, 2024, as a landmark moment for the regional bloc.
“For the first time in 19 years, Nigeria has paid 100 percent of its community levy, covering 2023 and extending to July 2024. The total payment amounts to ₦84 billion and $54 million. This underscores the leadership and dedication of President Bola Ahmed Tinubu, the government, and the people of Nigeria to the ECOWAS community,” he said.
He credited the achievement to President Tinubu’s leadership, emphasizing that the administration had prioritized fulfilling Nigeria’s obligations to ECOWAS.
Dr. Touray also described the payment as a reflection of confidence in the organization’s vision and the reforms undertaken during his tenure as ECOWAS Commission President, which began in 2022.
“This payment is a mark of confidence in the ECOWAS that I have been privileged to lead since 2022. My colleagues and I are deeply grateful for Nigeria’s steadfast support,” Dr. Touray added.
As the largest economy and a founding member of ECOWAS, Nigeria has a vital role in promoting economic integration, political stability, and security within the region. By meeting its financial commitments, Nigeria reaffirms its leadership in the West African bloc and sets an example for other member states.
The payment symbolizes Nigeria’s dedication to strengthening regional collaboration and advancing ECOWAS’s shared goals for the prosperity of all member nations.
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