The ECOWAS Parliament has adopted a price range of 19,636,030 Items of Account (UA) ($26 million) for the 2026 fiscal yr, and introduced plans to commemorate its twenty fifth anniversary in November.
The Speaker of the Parliament, Memounatou Ibrahima, who introduced this, mentioned the event adopted the current conclusion of its 2025 Second Extraordinary Session in Port Harcourt, Nigeria.
She mentioned the price range was adopted by the Parliament throughout plenary, stressing that, past being a mere accounting act, it was the engine of parliament’s dedication to West Africans.
”It’s going to allow us to hold out our precedence missions, together with implementing the conclusions of the seminar on AI, whereas making certain virtuous and clear administration of public funds entrusted to us.
”This price range represents a 5 per cent improve in comparison with the 2025 fiscal yr price range, reflecting an upward adjustment of UA 939,233 from final yr’s UA 18,996,897.
”Out of the price range of UA 19,636,030 for 2026, the sum of UA19,368,394, representing 98.64 per cent, is anticipated to be financed by means of the proceeds from the Group Levy, whereas UA257,636, equal to 1.36 per cent, will accrue from different sources,” Ms Ibrahima mentioned.
The Information Company of Nigeria (NAN) studies that the ECOWAS Group Levy is a compulsory 0.5 per cent tax imposed on items imported into ECOWAS member states from non-ECOWAS nations.
Member states are below a statutory obligation to pay the group levy, which is the primary supply of funding for ECOWAS establishments and their actions.
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Ms Ibrahima, nonetheless, expressed dismay that some members of the group have been nonetheless defaulting on the fee of the levy and warned that, going ahead, such could be met with sanctions.
She additionally mentioned that the commemoration of its twenty fifth anniversary in November would spotlight the ECOWAS Parliament’s achievements in deepening regional democracy, cooperation, and progress, amid formidable challenges.
The speaker described the forthcoming anniversary as “an opportunity to showcase resilience and chart a extra modern, youth-focused future for the group”.
(NAN)
