Reps to probe Nigeria’s €1.2m debt to OACPS
The House of Representatives yesterday resolved to investigate Nigeria’s outstanding debt of 1.2 million Euros to the Organisation of African, Caribbean and Pacific States. This followed the adoption of a motion of urgent national importance moved by Rep Ibrahim Isiaka (APC, Ogun). Isiaka in his motion said Nigeria, like other member-states, is expected to contribute […]
house of reps
The House of Representatives yesterday resolved to investigate Nigeria’s outstanding debt of 1.2 million Euros to the Organisation of African, Caribbean and Pacific States.
This followed the adoption of a motion of urgent national importance moved by Rep Ibrahim Isiaka (APC, Ogun).
Isiaka in his motion said Nigeria, like other member-states, is expected to contribute financially to the OACPS budget and various development programmes.
He, however, expressed worry that despite Nigeria’s substantial engagement with OACPS, including access to over 1.7 billion Euros in development grants and investment funds through the previous OACPS-EU Cotonou Agreement (2000-2020), the outstanding contribution remained unpaid.
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The lawmaker warned that failure to pay the outstanding contribution could attract sanctions and affect the country’s diplomatic and development prospects.
Ruling on the matter, the Speaker, Abbas Tajudeen, mandated the Committees on Finance, National Planning and Debt Management to review the implications of Nigeria’s participation and liaise with relevant ministries to expedite payment.
The committees are expected to report back to the House in two weeks.