NIGERIA: Nigeria Clears ECOWAS Levy After 19 Years

By Ameenat Hamzat, Lagos, Nigeria 

For the first time in 19 years, the Federal Republic of Nigeria has fully paid the Economic Community of West African States (ECOWAS) levy, contributing N85.54 billion and $54 million for 2023 and part of 2024.

This achievement was announced by the President of the ECOWAS Commission, Omar Touray, during the 66th ordinary summit of ECOWAS in Abuja on Sunday.

In his statement, he described the payment as “a vote of confidence” in the organisation and a reaffirmation of Nigeria’s leadership in West Africa.

Touray also highlighted the importance of the payment, stating that it would support the organisation’s efforts in regional integration and development.

The payment, made on December 13, 2024, is a significant milestone in the relationship between Nigeria and ECOWAS.

In the previous years, Nigeria had always struggled to meet ECOWAS financial obligations but this payment reflects the commitment of the country to the organisation.

At the summit, President of Nigeria, Bola Ahmed Tinubu, who is chairing the event at the state house, Abuja, praised his country’s role and contributions in the regional body.

The summit also addressed other key issues, including the withdrawal of countries like Burkina Faso, Mali, and Niger from organisation, following military coups in those countries.

These nations have established another organisation, the Alliance of Sahel States (AES) , which leaders of ECOWAS are now seeking ways to manage the situation diplomatically.

The summit also featured discussions on the proposed single currency for West Africa, the ECO, and ways to improve economic cooperation among members of ECOWAS.