Nigeria has fully settled its financial obligations to the Economic Community of West African States (ECOWAS) for the first time in 19 years, paying $85.54 billion in levies, including its 2024 dues up to July.
“This unprecedented contribution demonstrates Nigeria’s commitment to regional integration and cooperation,” ECOWAS Commission President Omar Touray said at the 66th Ordinary Summit of Heads of State and Government in Abuja on Sunday.
The payment, finalized on December 13, comes amid efforts by President Bola Ahmed Tinubu’s administration to reassert Nigeria’s leadership within the 15-member bloc. Dr. Touray described the move as a “historic milestone” for the region.
“Nigeria’s full compliance not only signals renewed confidence in ECOWAS but also strengthens its capacity to tackle pressing regional challenges,” he added.
ECOWAS relies on member states’ contributions to fund initiatives, including peacekeeping, trade facilitation, and economic development programs. Nigeria’s contributions alone account for a significant share of the bloc’s budget.
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“This shows what leadership and commitment can achieve. I urge other member states to follow Nigeria’s example,” Dr. Touray said.
The payment clears a backlog that had hampered Nigeria’s standing within ECOWAS and comes as the region grapples with complex issues such as political instability, insecurity, and economic recovery.
Nigeria’s renewed financial support is expected to boost ECOWAS programs, enabling timely responses to crises and stronger integration among West African states.
