The Nigerian government has cleared its long-standing debt of $85.54 billion to the ECOWAS Commission, a liability that had been pending for 19 years.
This significant development was announced by Dr. Omar Touray, the 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 on Sunday, President Bola Tinubu revealed the details of the payment plan.
The settlement, which was finalized on Friday, December 13, 2024, also includes Nigeria’s community levy payment for the period up to July 2024.
Dr. Touray shared the update, stating, “The good news is that for the first time in 19 years, Nigeria has decided to pay 100 percent of its community levy up to 2023, Nigeria paid $85.54 billion, presenting 100 percent of the 2023 levy and the level of 2024 up to July 2024.”
He went on to express his appreciation, noting, “The money was paid on Friday, December 13, 2024.
This payment underscores the leadership and commitment of President Bola Ahmed Tinubu, the government and the people of Nigeria to the ECOWAS community.”
Dr. Touray concluded with a personal note of gratitude: “At a more personal level, it underscores a mark of confidence in the ECOWAS that I have been privileged to led since 2022. My colleagues and I are deeply grateful.”
