President Bola Tinubu has made a significant financial contribution to the Economic Community of West African States (ECOWAS), paying a total of N85 billion and $54 million. This payment represents 100% of Nigeria’s levies owed for the years 2023 and 2024, up to July 2024. It marks the first time in 19 years that Nigeria has fully settled its ECOWAS levies.
Omar Touray, the president of the ECOWAS Commission, announced the payment during the ongoing 66th Ordinary Summit of ECOWAS Heads of States and Governments in Abuja. He highlighted that the payment, made on Friday, December 13, 2024, underscores Nigeria’s leadership and commitment to the ECOWAS community.
Touray also noted that although many countries in the region have struggled with timely levy remittances, Nigeria’s full payment sets a positive example. He expressed gratitude on behalf of the ECOWAS Commission for Nigeria’s support.
In his remarks, President Tinubu emphasized the importance of unity among ECOWAS member states, stressing that the strength of the organization lies in its collective efforts. He pointed out the challenges faced by the region, including crises in Sudan and the Middle East, violent extremism, and environmental issues, noting that these challenges underline the necessity of working together as a community.
As the current chairman of ECOWAS, President Tinubu presided over the summit and reaffirmed Nigeria’s commitment to regional cooperation and integration.
