The Federal Government of Nigeria has paid N85 billion and $54 million as its community levy to the Economic Community of West African States (ECOWAS), covering the period from 2023 to July 2024.
This payment marks a significant achievement, as it is the first time in 19 years that Nigeria has paid 100% of its community levy.
Dr. Omar Touray, President of the ECOWAS Commission, made the announcement during the opening of the 66th Ordinary Session of the Authority of Heads of State and Government at the Banquet Hall, Presidential Villa, Abuja.
Touray emphasized that this highlights the leadership and commitment of President Bola Ahmed Tinubu, the Nigerian government, and the people of Nigeria to the ECOWAS community.
“For the first time in 19 years, Nigeria has decided to pay 100 per cent of its community levy from 2023. 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,” he stated.
Dr. Omar Touray expressed personal gratitude, highlighting that Nigeria’s full payment of the community levy reflects confidence in his leadership of ECOWAS since 2022.
“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,” he said
Regional challenges
President Bola Ahmed Tinubu emphasized the importance of unity within the ECOWAS community. He stated that the strength of the commission lies in the solidarity of its members and that ECOWAS was founded on a shared vision to create a community that benefits all citizens of the region.
Tinubu noted the challenges the world is facing, including crises in Sudan, the Middle East, violent extremism, and environmental issues, many of which have impacted the West African region. He stressed that these challenges highlight the need for regional cooperation, saying,
“The world is confronted with challenges ranging from crisis, from 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,” he said.
What you should know
The Economic Community of West African States (ECOWAS) is a regional political and economic union of 15 West African countries. Established on May 28, 1975, by the Lagos Treaty, its primary aim is to foster economic integration and cooperation among its member states to enhance regional development and stability.
- The 66th Ordinary Session is being hosted by President Tinubu, who assumed the role of Chairman of the Authority of Heads of State and Government in June 2023 and was re-elected for a second one-year term in June 2024.
- As of December 2024, ECOWAS consists of 12 member states: Benin Republic, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Nigeria, Senegal, Sierra Leone, and Togo.
One of the key agenda items for the summit is the adoption of the ECO, ECOWAS’ proposed single currency. The leaders will discuss ways to accelerate the implementation of the ECO and promote greater economic integration within the region.