Nigeria Pays ₦85bn, $54m ECOWAS Levy

informantonline.com.ng

December 15, 2024

Nigeria has settled its outstanding debt to the Economic Community of West African States (ECOWAS), amounting to ₦85 billion.

This was revealed by the President of the ECOWAS Commission, Omar Touray, during his address at the opening of the 66th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Abuja.

Touray acknowledged that while other member states had been slow in paying their levies, Nigeria, under the leadership of President Tinubu, had cleared its dues from 2023 to the present.

He noted that this marks the first time in 19 years that Nigeria has paid 100% of its ECOWAS levy.

The ECOWAS President also commended President Bola Tinubu and the Nigerian government for their continuous support of the regional body’s efforts.

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Additionally, he expressed gratitude to the outgoing President of Ghana, Nana Akufo-Addo, who will step down on January 7, 2025.

“This needs to be reversed. The 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 13th, Nigeria paid ₦85 billion and 54 million representing 100 per cent of the 2023 levy and the levy of 2024 up to July 2024.

“We all agree that this payment underscores the leadership and commitment of President Ahmed Tinubu, the government and the people of Nigeria to our community.

At a more personal level, it represents a mark of confidence on the management that I have been privileged to lead since 2022. My colleague and I are deeply grateful and I thank you for your attention,” Touray stated.

In his opening speech, Bola Tinubu, Chairman of the ECOWAS Authority of Heads of State and Government and President of Nigeria, emphasized the need for cooperation among ECOWAS member states to protect their citizens and create an environment where they can thrive.

He stressed that improving the living standards of citizens is a shared responsibility and an obligation of the governments.

Tinubu highlighted that economic cooperation has been strengthened through various ECOWAS policies. He also praised Ghana and Senegal for successfully holding their presidential and parliamentary elections, urging other countries in the region to draw lessons from their examples.

Tinubu referred to President Akufo-Addo as “Mr. Democrat,” applauding the Ghanaian leader for his selfless leadership and for ensuring that the will of the people prevailed.

This summit marks President Akufo-Addo’s final attendance as President of Ghana.