The Nigerian House of Representatives on Tuesday resolved to investigate Nigeria’s outstanding debt of €1,119,979.86 to the Organisation of African, Caribbean and Pacific States (OACPS), as reported by multiple sources including the News Agency of Nigeria (NAN).
The decision followed a motion of urgent national importance moved by Deputy Chief Whip Ibrahim Isiaka (APC, Ogun) during plenary, highlighting Nigeria’s failure to meet its financial obligations to the OACPS, which could jeopardize the organization’s operations and project implementation.
Isiaka noted that Nigeria, a key OACPS member, has benefited from over €1.7 billion in development grants and investment funds through the OACPS-European Union partnership since 2020, including under the previous Cotonou Agreement (2000–2020).
Despite these benefits, Nigeria’s unpaid contributions risk sanctions that could harm its diplomatic standing and access to future development resources.
He emphasized the importance of Nigeria’s continued participation in the OACPS for trade opportunities, South-South cooperation, and diaspora engagement, urging prompt action to settle the arrears.
Speaker Abbas Tajudeen mandated the Committees on Finance, National Planning and Economic Development, and Debt Management to assess the implications of Nigeria’s OACPS membership and collaborate with relevant ministries, particularly the Federal Ministry of Finance, to expedite payment.
The committees are expected to report back within two weeks. A January 20, 2025, letter (Ref. E.1086/S.2/11/391) from the Federal Ministry of Budget and Economic Planning to the Finance Ministry underscored the urgency of addressing the debt to avoid suspension from the OACPS.
This investigation aligns with Nigeria’s broader engagement with the OACPS, as evidenced by President Bola Tinubu’s recent visit to Saint Lucia, the OACPS headquarters, to strengthen ties with Caribbean nations.
What You Should Know
- The House of Representatives is investigating Nigeria’s €1,119,979.86 debt to the OACPS, prompted by a motion from Deputy Chief Whip Ibrahim Isiaka on July 1, 2025.
- Nigeria has benefited from over €1.7 billion in OACPS-EU development support since 2020 but has consistently failed to pay its contributions.
- Failure to settle the debt risks sanctions, potentially affecting Nigeria’s diplomatic and development prospects.
- Speaker Abbas Tajudeen tasked the Committees on Finance, National Planning, and Debt Management to review and expedite payment, with a report due in two weeks.
- The probe underscores Nigeria’s strategic OACPS engagement, including recent diplomatic efforts in Saint Lucia, amid concerns over financial mismanagement.
