By Oyinkansayo Wole-Bodunde.
Nigeria has made history by fully meeting its financial obligations to the Economic Community of West African States (ECOWAS) for the first time in nearly two decades.
The country paid its community levy in full, totaling ₦84 billion and $54 million, covering its contributions for 2023 and extending through July 2024.
According to Dr. Omar Touray, President of the ECOWAS Commission, this payment is a “historic milestone” in Nigeria’s commitment to regional integration and development. “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,” Dr. Touray said.
Dr. Touray attributed this achievement to President Tinubu’s leadership, whose administration prioritized fulfilling Nigeria’s obligations to ECOWAS. He also noted that this payment demonstrates Nigeria’s confidence in ECOWAS’s vision and ongoing reforms. “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,” he said.
As a founding member and largest economy in ECOWAS, Nigeria plays a vital role in promoting economic integration, political stability, and regional security. By meeting its financial obligations, Nigeria reaffirms its leadership within the West African community. This payment also highlights Nigeria’s commitment to strengthening regional collaboration and advancing ECOWAS’ shared goals for the benefit of all member states.
