BREAKING: Nigeria Fulfills ECOWAS Financial Obligation for the First Time in 19 Years

For the first time in nearly two decades, Nigeria has met 100 percent of its financial obligations to the Economic Community of West African States (ECOWAS), fully paying its community levy. The payment, totaling ₦84 billion and $54 million, covers the entirety of 2023 and extends to 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 at the State House, Abuja.

Dr. Touray highlighted that the payment, completed on Friday, December 13, 2024, marks a major milestone in Nigeria’s commitment to regional integration and development. He credited the achievement to the leadership of President Bola Ahmed Tinubu, the Nigerian government, and its citizens, emphasizing the critical role Nigeria plays in ECOWAS.

“This payment underscores the leadership and commitment of President Bola Ahmed Tinubu, the government, and the people of Nigeria to the ECOWAS community,” Dr. Touray said.

He further noted that the payment reflects confidence in the organization’s vision and his leadership since assuming office as ECOWAS Commission President in 2022. “For the first time in 19 years, Nigeria has decided to pay 100 percent of its community levy up to 2023, amounting to ₦84 billion and $54 million. This also includes the levy for 2024 up to July 2024,” he stated.

Dr. Touray expressed gratitude on behalf of his team, describing the payment as a significant vote of confidence in ECOWAS and its future.