Nigeria Fulfills ECOWAS Financial Obligations in Historic Move, Pledges Regional Development

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Abuja, Nigeria — In a groundbreaking development, Nigeria has fully met its financial obligations to the Economic Community of West African States (ECOWAS) for the first time in nearly two decades. The payment, totaling ₦84 billion and $54 million, covers the entirety of Nigeria’s 2023 community levy and extends to July 2024.

The historic payment, confirmed on Friday, December 13, 2024, was celebrated as a significant show of leadership and commitment under President Bola Ahmed Tinubu. Dr. Omar Touray, President of the ECOWAS Commission, commended Nigeria’s bold move during the ECOWAS Extraordinary Summit, describing it as a milestone for regional cooperation.

“For the first time in 19 years, Nigeria has decided to pay 100 percent of its community levy,” Dr. Touray said. “This payment underscores the leadership and commitment of President Bola Ahmed Tinubu, the government, and the people of Nigeria to the ECOWAS community. At a personal level, it reflects confidence in the management I have been privileged to lead since 2022. My colleagues and I are deeply grateful.”

The payment comes at a critical time when ECOWAS is working to revive delayed infrastructural projects under the Regional Infrastructure Development Plan. Years of inconsistent financial commitments from member states had slowed progress on major initiatives aimed at enhancing trade, connectivity, and economic growth in West Africa.

President Tinubu’s recent meeting with German President Frank-Walter Steinmeier further emphasized his administration’s dedication to ECOWAS. During the discussions, Tinubu reiterated Nigeria’s commitment to regional stability and pledged to work strategically to reintegrate countries that had exited the bloc following military coups.

The renewed financial commitment from Nigeria is expected to accelerate ECOWAS’s development agenda, which includes ambitious infrastructure projects such as modernizing border posts, expanding the West African Gas Pipeline, and advancing the West Africa Power Pool. These initiatives are critical for fostering economic integration and ensuring sustainable development across the region.

President Tinubu’s leadership has been widely lauded for positioning Nigeria as a pillar of stability and growth in Sub-Saharan Africa. The full payment of Nigeria’s ECOWAS levy signals the nation’s readiness to assume its rightful role as a leader in the region, fostering unity and shared prosperity.

As ECOWAS approaches its 50th anniversary in 2025, the move is a powerful reminder of the bloc’s founding ideals of integration, peace, and progress. With Nigeria taking the lead, hopes are high for a reinvigorated ECOWAS that delivers tangible benefits to its member states and citizens.

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