On December 13, 2024, Nigeria made a significant contribution to the Economic Community of West African States (ECOWAS) by paying N85b ($54m) as its community levy for 2023 and the first half of 2024. This payment marks the first time in 19 years that Nigeria has fully settled its levy obligations for a two-year period.
Omar Touray, President of the ECOWAS Commission, made the announcement during his opening remarks at the 66th Ordinary Session of the ECOWAS Heads of State and Government meeting, currently taking place at the State House Conference Centre in Abuja.
Touray praised Nigeria’s leadership and commitment to the ECOWAS community, crediting President Bola Tinubu and the Nigerian government for ensuring the full payment. He described the payment as a significant step in supporting the financial stability of the organization.
However, Touray also expressed concern over the slow remittances of the community levy by other member states. He urged countries to improve their payment contributions to ensure the continued financial health of ECOWAS.
The ongoing session, chaired by President Tinubu, brings together 12 ECOWAS heads of state amidst growing tensions, particularly following the decision by Burkina Faso, Mali, and Niger to withdraw from the bloc in early 2024. The leaders are expected to discuss sanctions on the withdrawing nations, regional security challenges, and the political situation in countries under military rule. Additionally, the adoption of the ECO, ECOWAS’s proposed single currency, will be a key topic of discussion.
As of December 2024, the remaining ECOWAS member states are Benin, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Nigeria, Senegal, Sierra Leone, and Togo.
