Nigeria has achieved a significant milestone by fully settling its financial obligations to the Economic Community of West African States (ECOWAS) for the first time in 19 years. The country paid a total of $85.54 billion, covering its 2023 community levy and part of the 2024 obligation up to July.
This major announcement was made by the ECOWAS Commission President, Dr. Omar Touray, during the 66th Ordinary Summit of the ECOWAS Authority of Heads of State and Government. The summit took place at the State House in Abuja on Sunday, December 15, 2024.
Dr. Touray commended Nigeria for its renewed commitment to the regional bloc, emphasizing the importance of the payment. He remarked, “This is the first time in 19 years that Nigeria has met its obligation in full. This remarkable contribution underscores the leadership and commitment of President Bola Ahmed Tinubu, the government, and the people of Nigeria to the ECOWAS community.”
The payment, finalized on Friday, December 13, 2024, demonstrates Nigeria’s determination to strengthen regional integration and collaboration. By clearing the levy backlog, Nigeria has paved the way for ECOWAS to address pressing regional challenges and enhance the implementation of its various programs.
