September 26, 2020
  • September 26, 2020
  • Home
  • Business
  • Nigeria contributes $1.17 bln to ECOWAS in 16-year, representing 40.4% of total dues
PresidentBuhari

Nigeria contributes $1.17 bln to ECOWAS in 16-year, representing 40.4% of total dues

By on July 29, 2020 0 101 Views

Nigeria was the biggest contributor to the Economic Community of West African States (ECOWAS), with a total contribution of $1.177 billion in 16 years, representing 40.42 percent of membership levy of the regional trade bloc.
Documents from a presentation by the ECOWAS Commission to its Parliament showed that Nigeria’s contribution to the regional bloc was more 12 of 15 members of the ECOWAS put together.
Ghana contribution, however, came a distant second with a total of $508.577 million in the same period, while Cote d’Ivoire $347.262 million.
Further breakdown of member’s contributions showed Benin, Burkina Faso, Cape Verde, Guinea, Guinea Bissau, Gambia, Liberia, Mali, Niger, Senegal, Sierra Leone and Togo paid a total of $879.71 million.
Ghana’s payment represents 17.45 percent of the total sum, Cote d’Ivoire 11.9 percent, while the cumulative payment by the other 12 countries represents 30.1 percent.
Within the period under review, Guinea Bissau paid the lowest amount of $6.20 million, representing 0.2 percent of total community levy proceeds in the 16 years under review

Leave a comment

Your email address will not be published. Required fields are marked *

Sign For NewslettersFor News Updates Around The Globe!