Reps To Probe Nigeria’s €1.2m Debt To African, Caribbean and Pacific Group

Reps has moved to probe Nigeria’s €1.2m debt to African, Caribbean and Pacific Group.

NewsOnline Nigeria reports that the House of Representatives has resolved to investigate Nigeria’s outstanding financial contribution of €1.2 million to the Organisation of African, Caribbean and Pacific States (OACPS), amid concerns that the debt could damage the country’s diplomatic standing and hinder access to critical development funding.

This resolution followed a motion of urgent national importance raised during Tuesday’s plenary by Deputy Chief Whip, Hon. Ibrahim Isiaka (APC, Ogun), who drew attention to Nigeria’s persistent failure to meet its financial obligations to the multilateral organisation.

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Hon. Isiaka noted that while Nigeria has received over €1.7 billion in development grants and investment support under the OACPS-European Union partnership since 2020, the government’s inability to fulfil its dues to the organisation could attract sanctions and jeopardise future funding.

“It is disheartening that despite Nigeria’s strategic engagement and benefits from the OACPS-EU Cotonou Agreement (2000–2020), we are lagging behind in our commitment to the body. This risks undermining Nigeria’s influence and credibility on the international stage,” Isiaka said.

He warned that continued default may hamper the implementation of vital development projects and disrupt Nigeria’s role in shaping OACPS policy, particularly as the organisation transitions into the post-Cotonou framework with the EU.

In response, Speaker of the House, Rep. Abbas Tajudeen, mandated the Committees on Finance, National Planning, and Debt Management to urgently investigate the matter, assess the implications of the debt, and liaise with relevant ministries to facilitate prompt payment.

The committees were given a two-week deadline to report back with recommendations.

The Organisation of African, Caribbean and Pacific States (OACPS), headquartered in Brussels, is a multilateral grouping of 79 countries working to promote sustainable development, international cooperation, and economic integration across member states. Nigeria’s continued participation and influence within the body are tied to fulfilling its financial and strategic commitments.