Nigeria has finally paid its long-overdue ₦85 billion debt to the Economic Community of West African States (ECOWAS), breaking a 19-year streak of partial payments. This announcement was made by Omar Touray, President of the ECOWAS Commission, during the 66th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Abuja. While member states often drag their feet in remitting levies, Nigeria has suddenly stepped up under President Bola Ahmed Tinubu’s leadership.
Touray couldn’t hide his satisfaction as he highlighted that this is the first time in nearly two decades that Nigeria has cleared its ECOWAS levies in full, paying for 2023 and even part of 2024. He called this a testament to President Tinubu’s leadership and commitment, adding that it was also a vote of confidence in his own management of the ECOWAS Commission since 2022.
Touray lavished praise on Tinubu and his administration, as well as on outgoing Ghanaian President Nana Akufo-Addo, dubbing him “Mr. Democrat” for his leadership and dedication to democracy. Tinubu, in his address, urged member states to focus on raising citizens’ living standards and creating enabling environments for development. He also commended Ghana and Senegal for their successful elections, encouraging others to follow their example.
Some persons might see this as a convenient narrative for Tinubu’s administration, especially when Nigeria’s economy continues to struggle with inflation, unemployment, and a depreciating currency. While paying ECOWAS levies is undoubtedly important for regional cooperation, many Nigerians are likely questioning the government’s priorities. At a time when citizens face steep living costs, does promptly settling an international debt to save face outweigh addressing the immediate economic struggles of the people?
Tinubu’s emphasis on raising living standards is ironic, considering the hardships most Nigerians face daily. Sure, ECOWAS policies are aimed at fostering economic cooperation, but what tangible benefits are ordinary Nigerians experiencing from this relationship? Will paying these levies suddenly lead to job creation, better infrastructure, or affordable goods?
