Politics

House of Reps to Investigate Nigeria’s €1.2m Debt to African-Caribbean-Pacific Organization

The House of Representatives has resolved to investigate Nigeria’s outstanding debt of €1.2 million to the Organization of African, Caribbean and Pacific States (OACPS), raising concerns over possible sanctions and strained diplomatic relations.

The move followed a motion of urgent national importance raised by Deputy Chief Whip, Ibrahim Isiaka, during plenary on Tuesday. Isiaka, representing Ogun State, stressed the importance of addressing the unpaid financial contributions, especially considering Nigeria’s historical and economic benefits from its membership in the organization.

According to Isiaka, Nigeria has enjoyed substantial development support, receiving over €1.7 billion in grants and investments through the OACPS-European Union partnership since 2020. Much of this support stemmed from the now-concluded Cotonou Agreement (2000–2020), which enabled joint economic and development projects between the EU and OACPS countries.

Despite these significant benefits, reports indicate that Nigeria has been inconsistent in fulfilling its financial obligations to the OACPS, a situation that could disrupt ongoing and future projects funded through the partnership.

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“Continued failure to meet our contribution obligations could attract sanctions and tarnish Nigeria’s image in international development circles,” Isiaka warned.

In response, the Speaker of the House, Rep. Abbas Tajudeen, directed the Committees on Finance, National Planning, and Debt Management to assess the implications of Nigeria’s non-payment. The committees have been tasked with consulting relevant government ministries to ensure the funds are released and payment is made without delay.

They are expected to present their findings and recommendations to the House within two weeks.

The Organization of African, Caribbean and Pacific States represents 79 member countries and plays a key role in facilitating development cooperation, trade, and cultural partnerships with the European Union. Member states are required to contribute to its operational budget and shared programmes.

Observers have raised concerns that Nigeria’s reputation as a regional leader could be undermined if the country is seen as defaulting on its commitments, particularly when it continues to benefit from international development financing.

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With the probe now underway, stakeholders are watching to see how quickly Nigeria can resolve the issue and maintain its standing within the OACPS framework.

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