The House of Representatives says it would investigate Nigeria’s outstanding one point two million Euros debt to the Organisation of African, Caribbean, and Pacific States (OACPS).
This followed a motion of Matters Of Urgent National Importance titled: “Urgent To Avert the Impending Embarrassment And Sanction Of Nigeria Due To Remittances Of Cumulative Assessed Contributions To The Secretariat Of The Africa, Caribbean And Pacific Group, OACPS”, moved by Deputy Chief Whip, Mr. Ibrahim Isiaka from Ogun state at plenary.
According to him, Nigeria has benefited from over one point seven billion euros in development support through the OACPS-European Union partnership since 2020.
While leading the debate on the motion, Mr. Isiaka warned that failure to pay could attract sanctions and affect Nigeria’s diplomatic and development prospects.
Concern that the failure to remit these dues risks Nigeria’s imminent Sanction by the OACPS Secretariat, which could adversely affect our ongoing and future collaborations within the Group.
” Further concerned that such sanctions could undermine Nigeria’s diplomatic standing and reduce our access to critical development resources and partnerships.
” Convinced that Nigeria’s continued participation in the OACPS-EU Partnership holds immense prospects for additional resources, trade opportunities, and diplomatic benefits, it is of utmost importance that Nigeria regularizes its dues”. The motion said.
He added that “it was therefore imperative that the Federal Government acts promptly to settle all outstanding contributions to preserve NIgeria’s image”.
Ruling on the matter, the House mandated its Committees on Finance, Nat//ional Planning, and Debt Management to review the implications of Nigeria’s participation and liaise with ministries to expedite payment.
The committees are expected to report back in two weeks.
Olusola Akintonde