Nigeria has absolutely paid its dues to the Financial Neighborhood of West African States (ECOWAS) for the yr 2023 and the primary half of 2024, totaling N85 billion (about $54 million).

This announcement was made by Omar Touray, the President of the ECOWAS Fee, throughout a serious assembly in Abuja.

That is the primary time in 19 years that Nigeria has managed to pay its full neighborhood levy on time. Talking on the 66th Abnormal Session of the Authority of Heads of State and Authorities, Touray mentioned,

“For the primary time in 19 years, Nigeria has paid 100% of its neighborhood levy from 2023 as much as July 2024,” highlighting the fee made on December 13, 2024.

Touray credited Nigerian President Bola Tinubu’s management and Nigeria’s dedication to working along with different West African nations for this achievement.

Nevertheless, he additionally talked about his concern about different nations within the area being sluggish to pay their dues, which may have an effect on the neighborhood’s monetary well being. He urged these nations to meet up with their funds.

The assembly, hosted by President Tinubu, who can also be the Chairman of the ECOWAS Heads of State, was attended by 12 presidents.

It’s taking place at a time when there are tensions because of Burkina Faso, Mali, and Niger leaving ECOWAS in January 2024.

The leaders are discussing take care of these nations, deal with ongoing political issues and terrorism within the area, and transfer ahead with plans for a single regional forex referred to as the ECO.

The discussions are additionally specializing in serving to nations within the area which might be at the moment dominated by navy governments transition again to civilian rule.