Reps to probe Nigeria’s €1.2M Debt to OACPS

House of Representatives has mandated an investigation into Nigeria’s outstanding debt of €1.2 million to the Organisation of African, Caribbean and Pacific States (OACPS).

The decision was taken following a motion moved by Deputy Chief Whip, Ibrahim Isiaka, who expressed worry over the unpaid contribution.

Isiaka noted that despite Nigeria’s substantial engagement with OACPS, including access to over €1.7 billion in development grants and investment funds, the outstanding contribution remained unpaid.

“Nigeria has benefited from over 1.7 billion Euros in development support through the OACPS-European Union partnership since 2020,” he said.

The lawmaker warned that failure to pay the outstanding contribution could attract sanctions and affect the country’s diplomatic and development prospects.

“Failure to pay the outstanding contribution could attract sanctions and affect the country’s diplomatic and development prospects,” Isiaka said.

The Speaker, Rep. Abbas Tajudeen, mandated the Committees on Finance, National Planning, and Debt Management to review the implications of Nigeria’s participation and liaise with relevant ministries to expedite payment. The committees are expected to report back to the house in two weeks [1].