Nigeria Pays $85.54 Billion ECOWAS Levy Backlog
Nigeria has fulfilled its financial obligations to the Economic Community of West African States (ECOWAS), paying the full community levy for 2023 and part of 2024, totaling $85.54 billion. The announcement was made during the 66th Ordinary Summit of the ECOWAS Authority of Heads of State and Government, held at the State House in Abuja on Sunday.
Key Points of the Payment:
- Total Payment: $85.54 billion, covering both 2023 and part of 2024 (up to July).
- Significance: This marks the first time in 19 years that Nigeria has fully met its financial obligations to ECOWAS.
- Leadership Recognition: Dr. Omar Touray, President of the ECOWAS Commission, praised President Bola Ahmed Tinubu and the Nigerian government for their commitment, calling the payment a remarkable contribution to regional integration.
Dr. Touray expressed appreciation for Nigeria’s leadership and the full payment, noting that it demonstrates Nigeria’s dedication to regional cooperation and integration. The payment is expected to enhance ECOWAS’ ability to address regional challenges, implement programs, and strengthen ties among its member states.
This milestone comes at a time when Nigeria’s relationship with ECOWAS is being strengthened, reflecting confidence in the regional organization under Dr. Touray’s leadership since 2022. The timely payment is seen as a positive step for furthering regional development and cooperation.
