Nigeria pays annual African Union statutory contribution

Nigeria pays annual African Union statutory contribution

Nigeria has completed its financial responsibilities to the African Union (AU) by fully paying its assessed contributions for the 2023 fiscal year.

Abiodun Oladunjoye, Director of Information at State House, announced this in Abuja, according to Afrireporters.

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

Ambassador Lamuwa noted that the payment indicates Nigeria’s dedication to its duties as an AU member-state.

He complimented President Bola Tinubu for living up to expectations not only as ECOWAS Chairperson, but also as a President who prioritizes timely payment of financial assessments.

During the Executive Council meeting, the Permanent Secretary delivered Nigeria’s position on the AU’s proposed 2024 budget.

‘‘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 urged the AU Commission (AUC) to cut travel costs by hosting more meetings at its headquarters in Addis-Ababa, Ethiopia.

The AU’s $654.8 million budget for 2023 is primarily funded by annual statutory contributions, voluntary contributions from development partners, and other miscellaneous income.

Development partners play an important role in supporting the AU’s budget, providing at least 67% of the total amount, while Member-states, including Nigeria, contribute to the remaining balance of the budget depending on the Executive Council’s authorized scale of assessment.

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