Home News ECOWAS Parliament Raises Alarm Over Declining Levy Remittances

ECOWAS Parliament Raises Alarm Over Declining Levy Remittances

ECOWAS Parliament Raises Alarm Over Declining Levy Remittances

Princess-Ekwi Ajide

Parliamentarians of the Economic Community of West African States, ECOWAS, have expressed concerns over the growing shortfalls in community levy remittances from member states.

This issue formed the highlights at the closing of a two-day induction session in Lome, Togo, as part of the 2024 Third Extraordinary Session.

The Director of Finance and Administration, Anna Jagne, had called 2024 the worst year for levy compliance, which funds 70-90% of the ECOWAS budget through a 0.5% tax on goods from non-member states.

A Nigerian Member of Parliament, Awaji Abiante, on his part, attributed the shortfall to struggling economies, stating that as economic conditions worsen, countries face competing financial demands.

A Gambian MP, Darbo Alhagie, was of the opinion that there is need to pressure defaulters, warning that non-compliance could cripple ECOWAS operations.

The Speaker of the ECOWAS Parliament, Memounatou Ibrahima, while closing the session, praised the enhanced understanding of ECOWAS functions and the vital role of MPs in upholding the community’s goals.

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