For the first time in nearly two decades, Nigeria has fully met its financial obligations to the Economic Community of West African States (ECOWAS), paying 100 per cent of its community levy.
The payment, totaling N84 billion and $54 million, covers Nigeria’s contributions for 2023 and extends through July 2024.
The announcement was made by the President of the ECOWAS Commission, Dr. Omar Touray, during the 66th Ordinary Summit of the ECOWAS Authority of Heads of State and Government, held on Sunday at the Old Banquet Hall of the Presidential Villa, Abuja.
Dr. Touray described the payment, completed on Friday, December 13, 2024, as a historic milestone in Nigeria’s commitment to regional integration and development.
“For the first time in 19 years, Nigeria has paid 100 percent of its community levy, covering 2023 and extending to July 2024. The total payment amounts to ₦84 billion and $54 million. This underscores the leadership and dedication of President Bola Ahmed Tinubu, the government, and the people of Nigeria to the ECOWAS community,” Dr. Touray said.
Dr. Touray credited the achievement to the leadership of President Tinubu, whose administration prioritized fulfilling Nigeria’s obligations to the regional body. He also highlighted the payment as a vote of confidence in ECOWAS’s vision and the ongoing reforms under his tenure as ECOWAS Commission President, which began in 2022.
“This payment is a mark of confidence in the ECOWAS that I have been privileged to lead since 2022. My colleagues and I are deeply grateful for Nigeria’s steadfast support,” he added.
As the largest economy and a founding member of ECOWAS, Nigeria plays a pivotal role in the organization’s initiatives aimed at fostering economic integration, political stability, and regional security. The fulfillment of its financial obligations reaffirms Nigeria’s leadership within the West African community and sets a precedent for other member states.
The payment underscores Nigeria’s commitment to strengthening regional collaboration and advancing the shared goals of ECOWAS for the benefit of all its member states.
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU TO ECOWAS LEADERS: LET’S LEARN FROM GHANA’S DEMOCRATIC EXAMPLE
President Bola Tinubu has urged leaders in West Africa to draw inspiration from Ghana’s recent peaceful elections as a model of democratic maturity and commitment to national unity.
At the opening of the 66th Ordinary Session of ECOWAS on Sunday in Abuja, President Tinubu lauded President Nana Akufo-Addo and the people of Ghana for the resounding success of their recent presidential and parliamentary elections, setting a high standard for the region.
“I urge all of us in the region to learn from this good democratic practice and prioritise our country’s national unity to ensure political stability of the region so that this manner of peaceful transition becomes the culture of democracy not only in West Africa but also in the entire Africa continent,” he stated.
“Despite the challenges of interrupted democratic governance in some West African countries, the region has continued to record democratic gains. Just a week ago, on December 7 2024, Presidential and Parliamentary elections took place in Ghana, the second-largest democracy in our region.
“One of the leading candidates who happens to be the incumbent Vice President, His Excellency Mahamudu Bawumia, together with the leadership of the ruling party, New Patriotic Party (NPP), conceded defeat and accepted the outcome of the Presidential election by congratulating the President-elect, His Excellency, John Dramani Mahama of National Democratic Congress (NDC) for his victory, even before the official announcement of the election results.
“This gesture, as it happened in Nigeria in 2015, demonstrates political maturity and respect for the will of the people of Ghana.
President Tinubu praised President Akufo-Addo for his exceptional leadership and unwavering commitment to ECOWAS during his two-year term, describing him as a formidable Pan-Africanist.
President Tinubu also congratulated the Government and people of Senegal on their successful parliamentary elections.
He praised Ghana’s Foreign Minister, Shirley Ayokor Botchwey, for painstakingly leading the ECOWAS Ministerial Committee of the Reform.
He wished her a successful tenure in her new role as the Secretary General of the Commonwealth.
In his second term as ECOWAS Chair, President Tinubu highlighted achievements from his first term, including strides in regional integration, economic growth, conflict resolution, and counterterrorism efforts.
He said the ECOWAS Trade Liberalisation Scheme (ETLS) and Common External Tariff (CET) have strengthened trade and economic cooperation.
“Similarly, regional infrastructure projects such as the West African Gas Pipeline, the West Africa Power Pool, and modernising key border posts with advanced equipment and joint border operations utilising state-of-the-art technology have significantly enhanced connectivity and promoted greater regional integration.
“Furthermore, our efforts in stabilising our region through peacekeeping missions currently in the Gambia and Guinea Bissau, as well as previous operations in Liberia and Sierra Leone, have demonstrated our capacity to act decisively in the face of adversity.
President Tinubu said the ECOWAS Regional Action Plan on the Fight Against Terrorism has provided a comprehensive framework to combat violent extremism and enhance regional security.
As ECOWAS nears its 50th anniversary in 2025, President Tinubu urged member states to recommit to the bloc’s founding ideals of economic integration, peace, and prosperity.
“As a regional community, we must maintain our fundamental responsibility: to protect our citizens and create an enabling environment where they can prosper.
“As leaders, we know that security is not a luxury but a necessity. Equally, enhancing the living standards of our people is not an aspiration but an obligation,” he said.
The Presidents of Cote d’Ivoire, Ghana, The Gambia, Guinea Bissau, Liberia, and Senegal attended in person alongside the Vice President of Sierra Leone, the Finance Minister of the Benin Republic, the Minister of foreign affairs of Togo, and the Ambassador of Cape Verde to Nigeria.
The President of the ECOWAS Commission, Dr Omar Touray, commended Nigeria for paying 100 per cent of its community levy for 2023 and substantial remittances for 2024, reflecting Nigeria’s leadership and commitment under President Tinubu.
“For the first time in 19 years, Nigeria has paid 100% of its community levy from 2023. I’m therefore pleased to announce that on Friday, December 13, 2024, Nigeria paid N85 billion and $54 million, representing 100% of the 2023 levy and the 2024 levy up to July 2024.
“We all agree that this payment underscores the leadership and commitment of President Tinubu, the government and the people of Nigeria to our community. At a more personal level, it represents confidence in the management I have been privileged to lead since 2022.
He encouraged other member states to meet their financial commitments diligently.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
December 15, 2024
