In a historic move, Nigeria has fulfilled 100% of its financial commitments to the Economic Community of West African States (ECOWAS) for the first time in 19 years. The payment, totaling ₦84 billion and $54 million, covers the entirety of 2023 and extends to July 2024. This milestone was announced by Dr. Omar Touray, President of the ECOWAS Commission, during the 66th Ordinary Summit of the ECOWAS Authority of Heads of State and Government in Abuja.
Dr. Touray highlighted that the payment, made on December 13, 2024, underscores Nigeria’s leadership and dedication to regional integration and development. He credited President Bola Ahmed Tinubu, the Nigerian government, and citizens for their unwavering commitment to ECOWAS’s vision and operations, noting that this gesture reflects Nigeria’s central role in the organization.
The ECOWAS Commission President further remarked that the payment signifies trust in ECOWAS and its leadership under his tenure, which began in 2022. He described Nigeria’s action as a significant show of confidence in the organization’s goals of fostering economic and political stability across the West African region.
This development reinforces Nigeria’s position as a driving force in ECOWAS while setting a precedent for member states. Dr. Touray expressed gratitude for the support, emphasizing that this landmark payment will strengthen regional unity and bolster the organization’s ability to achieve its objectives.
