The Speaker of the Economic Community of West African States (ECOWAS) Parliament has lamented the reduction of remittance of Community Levy across the Member States in the Region.
The Speaker in his opening remark at the 2022 Second Extraordinary Session of the Parliament stated that the Parliament has overtime relied on the resources from a collection of financial contributions across the region through a mechanism of Community levy, however, this collection in recent time according to the Speaker is experiencing decrees in its remittance.
“As we all know, Honorable Members, the resources of the Community are largely made up of the collection of financial contributions from the Member States This community levy, which is a rate of 0.5% imposed on goods from Non-ECOWAS member states, is, therefore, the main source of financing for ECOWAS.
It is supposed to cover between 70 and 90% of the community budget.
“Unfortunately, we are witnessing a low collection rate of the community levy, around 30% in recent years; this has the immediate consequence of reducing ECOWAS’ capacity to implement projects and programs, reducing the visibility of the Institutions among the citizens of the community, and slowing down the pace of economic integration.
Concluding, he called on all MPs to intervene in their various countries bearing in mind the importance of the Levy to the Region. “I, therefore, would like to emphasize, once again, the need for our countries to pay the proceeds of the Community Levy regularly, avoiding the accumulation of arrears, to enable ECOWAS successfully implement its program of activities. I also urge Honourable Members to effectively use our connections with the executive branches of our governments to ensure prompt and timely remittances” The Speaker Concluded.
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 Parliament has lamented the reduction of remittance of Community Levy across the Member States in the Region.){kind=link}