• Tue. Apr 23rd, 2024

Nigeria Fulfils Financial Obligation To AU

Nigeria has fulfilled its financial obligations to the African Union, AU by making full payment of its assessed contributions for the year 2023.

The confirmation was made on Saturday by the Permanent Secretary, Ministry of Foreign Affairs, Ambassador Adamu Ibrahim Lamuwa, on the sidelines of the 43rd Ordinary Session of the Executive Council of the AU in Nairobi, Kenya.

Ambassador Lamuwa explained that the payment demonstrates Nigeria’s commitment to its responsibilities as an AU member-state.

He praised President Bola Tinubu for living up to expectations not only as the Chairperson of ECOWAS but also as a President who emphasizes prompt payment of financial assessments.

During the Executive Council meeting, the Permanent Secretary shared Nigeria’s stance on the proposed 2024 Budget of the AU.

He welcomed the consideration of the economic outlook of African countries and the execution rate of AU departments and organs, over the past three years, in the budget drafting process.

‘‘Nigeria emphasized the importance of an austerity-driven, results-oriented budget that avoids duplication.

‘‘Accountability and prudent resource management were also highlighted to encourage other member countries to fulfill their financial obligations,’’ he said.

The Permanent Secretary called for synergy and complementarity among AU organs and departments and requested that the AU Commission, AUC reduce travel costs by hosting more meetings at its headquarters in Addis-Ababa, Ethiopia.

He also stressed the need for compliance with internal audit processes to ensure transparency and accountability.

President Tinubu is scheduled to attend the 5th Mid-Year Coordination Meeting on Sunday in Nairobi, where discussions on other significant matters will take place.