JUST IN: Nigeria Pays $85.54 Billion ECOWAS Levy After 19 Years

Nigeria has fully settled its community levy obligations to the Economic Community of West African States (ECOWAS) for the first time in 19 years.

The payment, amounting to $85.54 billion, covers the levy for 2023 and part of 2024 up to July. The announcement was made by Dr. Omar Touray, President of the ECOWAS Commission, during the 66th Ordinary Summit of the ECOWAS Authority of Heads of State and Government, held at the State House in Abuja on Sunday, December 15, 2024.

Dr. Touray praised the payment as a significant achievement.

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“This is the first time in 19 years that Nigeria has met its obligation in full. It reflects the leadership of President Bola Ahmed Tinubu and the commitment of Nigeria to the ECOWAS community,” he said.

The payment, made on Friday, December 13, 2024, demonstrates Nigeria’s dedication to regional integration and cooperation.

This settlement is expected to enhance ECOWAS’ capacity to address regional challenges and implement its programs, strengthening Nigeria’s role within the West African bloc.