Nigeria has paid a community levy of ₦85 billion to the Economic Community of West African States (ECOWAS), reaffirming its commitment to regional cooperation. This payment is part of Nigeria’s ongoing contribution to supporting the activities of ECOWAS, which works towards regional integration, peace, and economic development in West Africa. The contribution is vital for sustaining ECOWAS’s operations, promoting trade, security, and development in the region.
BUSINESS DAY
President Bola Tinubu has paid ₦85 billion, to the Economic Community of West African States (ECOWAS), representing 100% payment for levy owed by Nigeria. This translates in to $54 million.
Omar Touray, President of the ECOWAS Commission disclosed this as part of his reports at the ongoing 66th meeting of ECOWAS in Abuja.
He disclosed that the funds represents 100 percent of the 2023 and 2024 levy, up to July, this year, adding that this is the first time, such will be made in 19 years.
Touray, while addressing the Heads of State and other participants at the ongoing 66th Ordinary Summit of the ECOWAS Authority of Heads State and Government, at the State House, Abuja, said the money was paid Friday, December 13, 2024.
According to him, “Our community levy remittances continue to be slow, a number of countries have fallen behind in their commitment to levy remittances.
“The good news is that for the first time in 19 years, Nigeria has decided to pay 100 percent of its community levy up to 2023, Nigeria paid N85 billion naira and 54 million US dollars, representing 100 percent of the 2023 levy and the level of 2024 up to July 2024.
“The money was paid on Friday, December 13, 2024.
