The House of Representatives on Tuesday tasked the Federal Government on the need to offset outstanding debt worth €1,119,979.86 to the Organisation of African, Caribbean and Pacific Group of States (OACPS).
The resolution was passed sequel to the adoption of a motion on urgent public importance sponsored by Majority Whip, Hon Isiaka Ibrahim.
In his lead debate, Ibrahim observed that Nigeria is a member of OACPS, an important international organisation that facilitates development cooperation, trade and diplomatic engagement among its Member States.
“The House also note that Nigeria has been a beneficiary of various interventions and development programmes facilitated through the OACPS, which has contributed significantly to our national development objectives.
“The House is aware that section 5 of the OACPS Sanction Policy (Areas in contribution), member states are expected to meet their assessed financial obligation promptly to maintain their active participation and avoid sanctions.
“The House is also aware that, according to available records, Nigeria’s cumulative assessed contribution to the OACPS stands at EUR1,119,979.86.
“The House is worried that despite Nigeria’s substantial engagement with the OACPS, including access to over EUR1.7 billion in development grants and investment funds through the previous OACPS-EU Cotonou agreement (2000 to 2020), Nigeria’s outstanding contribution remains unpaid.
“The House is worried that the failure to remit these dues risks Nigeria’s imminent suspension by the OACPS Secretariat, which could adversely affect our ongoing and future collaborations within the group.
“The House is further concerned that such sanctions could undermine Nigeria’s diplomatic standing and reduce our access to critical development resources and partnerships.
“The House is concerned that Nigeria’s continued participation in the OACPS EU partnership holds immense prospect for additional resources, trade opportunities and diplomatic benefits. It is of utmost importance that Nigeria regularise its dues.
“The House observed that it is therefore imperative that the federal government acts promptly to settle all outstanding contributions to preserve Nigeria’s active membership and participation in the organisation.
“The House is concerned that Nigeria’s strategic partnership with the OACPS is vital for our national development agenda. It is therefore crucial to avert sanctions that could jeopardise our standing and access to valuable development resources.”
To this end, the House mandated the joint Committees on Finance, National Planning and Economic Development and Debts and Loan Management to conduct a thorough and clinical examination of the prospects attached to Nigeria’s continued participation in the OACPS-EU partnership, including potential benefits and risks.
The lawmakers also tasked the Federal Ministry of Finance to expedite the payment of all outstanding dues of €1,119,979.86 owed by Nigeria to the OACPS as captured in the various correspondences, especially a letter ref. E.1086/S.2/11/391 dated January 20th 2025, from the Federal Ministry of Budget and Economic Planning to the Federal Ministry of Finance.
Hence, the House mandated relevant committees to ensure compliance and report back to the House within two weeks for further legislative action.
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