Reps Probe Nigeria’s €1.2m Debt To OACP

The House of Representatives has resolved to investigate Nigeria’s outstanding debt of €1.2 million (Euros) to the Organisation of African, Caribbean, and Pacific States (OACPS).

Like other member-states, Nigeria is expected to contribute financially to the OACPS budget and various development programmes.

However, reports indicated that Nigeria has struggled to meet these financial obligations consistently, thereby hindering the organisation’s operations and the implementation of projects.

The lawmakers’ resolutions followed the adoption of a motion of urgent national importance moved by by the deputy chief whip, Ibrahim Isiaka (APC, Ogun) at plenary on Tuesday.

Moving the motion, Isiaka noted that Nigeria had benefited from over €1.7 billion in development support through the OACPS-European Union partnership since 2020.

He expressed worry over “Nigeria’s substantial engagement with the 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 Nigeria’s outstanding contribution remains unpaid.”

The lawmaker warned that failure to pay could attract sanctions and affect Nigeria’s diplomatic and development prospects.

Adopting the motion, the House mandated its committees on finance, national planning, and debt management to review the implications of Nigeria’s participation and liaise with revelant
ministries to expedite payment.

The committees were asked to report back to the House within two weeks for further legislative action.