The House of Representatives has unanimously resolved to investigate Nigeria’s outstanding debt of 1.2 million Euros to the Organisation of African, Caribbean and Pacific States(OACPS).
This development followed the adoption of a motion of urgent national importance sponsored 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.
The lawmaker, 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.
According to the Isiaka, 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.
