The House of Representatives has resolved to investigate Nigeria’s outstanding debt of €1.2 million to the Organisation of African, Caribbean and Pacific States, following concerns over potential diplomatic and developmental consequences.
The decision came after Deputy Chief Whip Ibrahim Isiaka (Ogun) raised a motion on matters of urgent national importance during Tuesday’s plenary session. Isiaka revealed that while Nigeria has benefited from over €1.7 billion in development support through the OACPS-European Union partnership since 2020, the country has failed to meet its financial obligations to the organization.
“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 remains unpaid,” Isiaka stated.
The lawmaker warned that the unpaid debt could lead to sanctions and negatively impact Nigeria’s diplomatic relations and development prospects.
Speaker Abbas Tajudeen subsequently directed the House Committees on Finance, National Planning, and Debt Management to: Review the implications of Nigeria’s participation in OACPS; Liaise with relevant ministries to facilitate immediate payment of the debt.
The committees have been given two weeks to submit their findings and recommendations.
As a member-state, Nigeria is required to contribute financially to OACPS’s budget and development programs. However, consistent default on these obligations may be affecting the organization’s operations and project implementations across member nations.
The investigation comes as Nigeria seeks to maintain its strategic partnerships with international organizations while addressing its financial commitments.
