Nigeria has fully settled its community levy obligations to the Economic Community of West African States (ECOWAS) for the first time in nearly two decades. The Federal Government paid a total of N85 billion and $54 million, covering dues up to the year 2023 and extending through July 2024.
The announcement was made by Dr. Omar Touray, President of the ECOWAS Commission, during the opening of the 66th Ordinary Session of the Authority of Heads of State and Government held at the Banquet Hall, Presidential Villa, Abuja. "For the first time in 19 years, Nigeria decided to pay 100 percent of its community levy up to 2023," Dr. Touray stated. He further emphasized that this payment underscores the leadership and commitment of President Bola Ahmed Tinubu, as well as the government and people of Nigeria, to the ECOWAS community.
The payment, completed on Friday, December 13, 2024, marks a significant step in reinforcing Nigeria's role within the regional bloc. Dr. Touray expressed gratitude, noting, "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."
President Bola Tinubu, in his opening remarks, highlighted the importance of unity among ECOWAS member states. "The strength of the commission lies in the unity of its members," he said. He also addressed the global challenges impacting the region, including crises in Sudan and the Middle East, violent extremism, and environmental issues. "Many of these challenges have impacted our region, showing the necessity of working together," President Tinubu added.
This development is seen as a reaffirmation of Nigeria's commitment to fostering economic cooperation and stability within West Africa. ECOWAS, founded in Lagos in 1975, aims to promote collective self-sufficiency among its member states and create a large trading bloc through economic collaboration.
The payment of the community levy is expected to enhance Nigeria's influence within ECOWAS and contribute to the region's economic growth and security initiatives. As the largest economy in West Africa, Nigeria's full participation is crucial for the success of ECOWAS's objectives, including poverty reduction and trade standardization across member countries.
The settlement of the levy also reflects Nigeria's dedication to addressing sub-regional security challenges through systematic collaboration with civil society and development policies, as outlined in the ECOWAS Treaty signed by member states in 1975.
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