Nigeria commits to pay ECOWAS community levy for 2022, confirms $74.7m remittance for 2021

WorldStage Newsonline– Nigeria delegation of parliamentarians to ECOWAS Parliament have told the ECOWAS commission that the country is making preparation to pay its community levy for 2022 having remitted a total of $74,730,054.43 in 2021. 

The levy is 0.5%, imposed on goods from non-ECOWAS member states. The funds from this community levy are intended to cover between 70 and 90% of the community’s budgetary revenues.   

The levy is used to finance activities of community. Community levy is a mechanism put in place by the ECOWAS Heads of State and Government. It has been operational since 2003. The mechanism is meant to mobilize funds for the accomplishment of ECOWAS missions.

Nigeria delegation at the ongoing first ordinary session, ECOWAS Parliament, Hon. Lynda Ikpeazu, who disclosed this on Wednesday, while presenting country report of Nigeria, assured the parliament that Nigeria government was making arrangement to pay up its contribution for 2022.

She said, “In 2021, Nigeria remitted a total sum of US$ 74,730,054.43 to the ECOWAS Commission. In line with Nigeria’s commitment to fulfilling her financial obligation to ECOWAS, the federal government is assiduously making arrangements to pay up the contribution.”

On the protocol on free movement of persons and goods, she said, “Nigeria has constantly shown initiative in the implementation of ECOWAS Texts on the protocol on free movement of persons and goods.

“In furtherance of this shared vision of an economically advanced region, the federal government of Nigeria has reopened four (4) additional land borders of the country to ease regional trade.  

“Additionally, as a giant in the sub-region, the Nigeria government continues to maintain her enduring commitment to the development of the region. This is shown by active involvement and support for the Lagos-Abidjan highway, that is projected to bring exponential socio-economic development to countries within the region.”

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