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Home Government

ECOWAS Faces Funding Crisis as Member States Struggle with Levy Payments

Nnaemeka OkwarabyNnaemeka Okwara
September 28, 2024
in Government
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ECOWAS Faces Funding Crisis as Member States Struggle with Levy Payments
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The Economic Community of West African States (ECOWAS) is currently experiencing acute financial constraints stemming from the low community levy remittances experienced among some of the member states.

The matter came up at the end of the two-day Swearing-in ceremony training for the new members of the ECOWAS Parliament held in Lomé, Togo. According to ECOWAS Parliament Director of Finance and Administration Anna Jagne, 2024 has noted the lowest of these levy contributions in recent years.

“In fact, community levy that finances 70-90% of the total annual budget of ECOWAS has greatly declined this financial year.  This carries significant dangers for the functioning of ECOWAS,” Jagne said.

Awaji Abiante, a Nigerian Member of Parliament, believes that the challenges arise from the economic hardships of the member nations. ‘The community levy issue directly speaks to the situation of our economies. If our economies are under further decline, then it would be impossible to contribute to the regional fund.’

The Community Levy is a tax imposed by ECOWAS member states at the rate of 0.5% on the importation of goods originating from outside the sub region.

Tags: ecowasECOWAS Faces Funding Crisis as Member States Struggle with Levy Paymentsfederal characterfundingLevyMember statesNewsPayments
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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