Nigeria pays ₦85bn community levy to ECOWAS for first time in 19 years

The Nigerian government has released ₦85 billion (approximately $54 million) as part of its community levy contribution to the Economic Community of West African States (ECOWAS).

Omar Touray, the President of the ECOWAS Commission, confirmed this payment on Sunday during his opening remarks at the 66th Ordinary Session of the ECOWAS Authority of Heads of State and Government, being held at the State House Conference Centre in Abuja.

According to Naija News, the payment covers Nigeria’s levy obligations from January 2023 through July 2024.

Touray stated, “The good news, and indeed, a very good news, is that for the first time in 19 years, Nigeria has decided to pay 100% of its community levy from 2023. I am pleased to announce that on Friday, December 13, 2024, Nigeria paid ₦85bn and $54m, representing 100% of the 2023 levy and the levy for 2024 up to July.”

He praised the leadership of Nigerian President Bola Tinubu, the Nigerian government, and its citizens, emphasizing the significance of the payment to the ECOWAS community.

However, Touray also expressed concern about the ongoing delays in community levy remittances, pointing out that many member states are still behind in their payments. He stressed the need to address this issue to ensure the financial stability of the community.

“Excellencies, I cannot conclude my statement without addressing the finances of the community. Here, I have both bad news and good news. The bad news is that community levy remittances continue to be slow. Several countries have fallen behind with their contributions, and this trend needs to be reversed,” said the ECOWAS president.

Naija News also reports that President Bola Ahmed Tinubu is chairing the meeting as the Chairman of the Authority of Heads of State and Government, a position he has held since June 2023 and was re-elected to for a second one-year term in June 2024.

The session, which sees the participation of twelve presidents, comes amid rising tensions, especially after Burkina Faso, Mali, and Niger announced their withdrawal from ECOWAS in January 2024. The meeting will review the sanctions imposed on these countries.

Discussions are also expected to cover regional security measures to combat terrorism in the Sahel and address political instability in member states. Furthermore, the Authority will assess the progress of nations under military rule, with a focus on accelerating their transitions to civilian governance.

The Authority will also explore strategies for advancing economic integration, particularly the implementation of the ECO, a proposed single currency for the region.

As of December 2024, the remaining ECOWAS member states include Benin Republic, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Nigeria, Senegal, Sierra Leone, and Togo.