In a historic move, Nigeria has paid 100% of its financial obligations to the Economic Community of West African States (ECOWAS) for the first time in 19 years.
This payment, totaling ₦84 billion and $54 million, covers Nigeria’s contributions for 2023 and extends to July 2024.
The significant milestone was announced by Dr. Omar Touray, President of the ECOWAS Commission, at the 66th Ordinary Summit of the ECOWAS Authority of Heads of State and Government, held at the State House in Abuja.
Dr. Touray commended Nigeria for its leadership and commitment to regional integration and development.
The payment, made on December 13, 2024, is seen as a demonstration of Nigeria’s continued support for the ECOWAS community under the leadership of President Bola Ahmed Tinubu.
Dr. Touray praised the Nigerian government and its citizens for this important contribution, which he said reflects confidence in the ECOWAS organization and in his leadership since taking office in 2022.
“This is a historic achievement for Nigeria, as it is the first time in nearly two decades that the country has fulfilled its 100% financial obligation to ECOWAS,” said Dr. Touray.
“This payment signifies the leadership, dedication, and support of President Bola Ahmed Tinubu, the Nigerian government, and the people of Nigeria towards the ECOWAS community.”
He further expressed his appreciation, noting that the payment was not only a gesture of Nigeria’s commitment to the region’s development but also an expression of confidence in the future of ECOWAS.
