The Federal Government of Nigeria has cleared its outstanding debt of N85 billion and $54 million owed to the Economic Community of West African States (ECOWAS). This marks the first time in 19 years that Nigeria has paid 100% of its community levy, according to the President of the ECOWAS Commission, Omar Touray.
Speaking at the 66th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Abuja, Touray lauded Nigeria’s commitment, attributing the milestone to the leadership of President Bola Tinubu. The payments, which cover 2023 and extend to mid-2024, were completed on December 13.
“This payment underscores the leadership and commitment of President Ahmed Tinubu, the government, and the people of Nigeria to our community,” Touray stated. He also highlighted the significance of the payment as a show of confidence in the management of the ECOWAS Commission under his leadership since 2022.
Touray further expressed gratitude to outgoing Ghanaian President Nana Akufo-Addo, who will leave office on January 7, 2025, for his contributions to ECOWAS.
In his opening remarks, President Tinubu, who also serves as Chairman of the ECOWAS Authority of Heads of State and Government, called for greater cooperation among member states to safeguard their citizens and foster economic growth. He emphasized the need for governments to raise living standards and provide enabling environments for their people to thrive.
Tinubu commended Ghana and Senegal for conducting successful elections and urged other nations in the region to draw inspiration from their democratic processes. He also praised President Akufo-Addo for his selfless leadership and dedication to the will of the people.
