Nigeria pays N85bn, $54m backlog of ECOWAS levy

Nigeria has paid N85 billion, $54 million to the Economic Community of West African States (ECOWAS), representing 100 percent payment of levy owed by the country.

Omar Touray, president of the ECOWAS Commission disclosed this as part of his reports at the ongoing 66th meeting of ECOWAS in Abuja

He said the funds represented 100 percent of the 2023 and 2024 levy, up to July, this year, adding that this is the first time such would be made in 19 years.

Touray, who addressed the heads of state and other participants at the ongoing 66th Ordinary Summit of the ECOWAS Authority of Heads of State and Government, in Abuja, said the money was paid on Friday, December 13, 2024.

According to him, “Our community levy remittances continue to be slow as a number of countries have fallen behind in their commitment to levy remittances.

“The good news is that for the first time in 19 years, Nigeria has decided to pay 100 percent of its community levy up to 2023, Nigeria paid N85 billion naira and $54 million, representing 100 percent of the 2023 levy and the level of 2024 up to July 2024.

“The money was paid on Friday, December 13, 2024. This payment underscores the leadership and commitment of President Bola Ahmed Tinubu, the government and the people of Nigeria to the ECOWAS community.

At a more personal level, it underscores a mark of confidence in the ECOWAS that I have been privileged to lead since 2022.

My colleagues and I are deeply grateful.”

On his part, President Tinubu said the strength of the commission was in the unity of members and ECOWAS was born out of a shared vision to create a community for citizens.

He said, “The world is confronted with challenges ranging from the crisis in Sudan, Middle East and violent extremism and environmental challenges.

“Many of the challenges have impacted our region and the reality underscores the reality of working together.”

President Tinubu presided over the meeting as ECOWAS chairman.

The president, who was re-elected chairman of ECOWAS on July 7, this year, had while meeting with the German President Frank-Walter Steinmeier, recently, assured that ECOWAS would tackle the region’s challenges, including prioritising the reintegration of Mali, Niger and Burkina Fasso into the group.