Nigeria has paid N85 billion (approximately $54 million) as its full community levy contribution to the Economic Community of West African States for 2023 and the first half of 2024.
This marks the first time in 19 years that the country has met its obligation in full.
The payment was announced on December 13, 2024, by the President of the ECOWAS Commission, Omar Touray, during the opening of the 66th Ordinary Session of the Authority of Heads of State and Government. The meeting is taking place at the State House Conference Centre in Abuja.
Speaking at the event, Touray expressed appreciation for Nigeria’s commitment, saying, “The good news, and indeed, a very good news is that for the first time in 19 years, Nigeria has decided to pay 100 per cent of its community levy from 2023. I am therefore pleased to announce that on Friday, December 13, 2024, Nigeria paid N85bn and $54m, representing 100 per cent of the 2023 levy and the levy of 2024 up to July 2024.”
He attributed this development to the leadership of President Bola Tinubu and the dedication of the Nigerian government and its people to regional integration.
However, Touray raised concerns about the slow remittances of levies by other member states, warning that this could impact the financial stability of the ECOWAS community. “The bad news is that the community levy remittances continue to be slow. A number of countries have fallen behind with their community levy remittances. This needs to be reversed,” he said.
President Bola Tinubu, in his role as Chairman of the Authority of Heads of State and Government, is hosting the summit. Tinubu assumed the role in June 2023 and was re-elected for a second one-year term in June 2024.
The meeting, attended by 12 presidents, comes amid regional tensions following the withdrawal of Burkina Faso, Mali, and Niger from ECOWAS in January 2024. Key discussions will include reviewing sanctions on these countries and addressing political instability and terrorism in the Sahel region.
Other items on the agenda include accelerating the adoption of the ECO, ECOWAS’s proposed single currency, and discussing progress on transitions to civilian rule in member states under military governments.
As of December 2024, ECOWAS member states include Benin Republic, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Nigeria, Senegal, Sierra Leone, and Togo.
