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Reps Urge FG to Settle €1.1m Outstanding Debt to OACPS

Victoria Emeto by Victoria Emeto
July 2, 2025
in News
0
Reps Urge FG to Settle €1.1m Outstanding Debt to OACPS

The House of Representatives has called on the Federal Government to urgently pay an outstanding €1,119,979.86 debt owed to the Organisation of African, Caribbean and Pacific States (OACPS). The resolution was adopted following a motion of urgent national importance moved by the House Majority Whip, Hon. Isiaka Ibrahim, during plenary on Monday.

Ibrahim noted that Nigeria, as an active member of the OACPS, has significantly benefited from the body’s support in areas of development, trade, and diplomatic cooperation. He emphasized that the nation has received over €1.7 billion in development grants and investment assistance through the OACPS-EU Cotonou Partnership Agreement (2000–2020).

However, despite these benefits, Nigeria has failed to meet its assessed contribution of nearly €1.12 million, which could lead to sanctions under Section 5 of the OACPS Sanction Policy, should the payment not be made promptly.

“Nigeria must meet its international obligations to remain in good standing and protect its interests within the global development community,” Ibrahim warned.

Lawmakers expressed concern that defaulting on this payment could undermine Nigeria’s reputation, affect future access to donor funds, and weaken the country’s leadership standing within multilateral forums.

The House therefore resolved to urge the Federal Government to settle the debt without delay to prevent sanctions and safeguard Nigeria’s standing in the OACPS and the broader international community.

Tags: #HouseOfReps#InternationalRelations#NigeriaDebt#OACPS
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