Nigeria has fulfilled its financial obligations to the African Union for the year 2023, as stated by the Director of Information, State House, Abiodun Oladunjoye, on Saturday. The confirmation came from Ambassador Adamu Ibrahim Lamuwa, the Permanent Secretary of the Ministry of Foreign Affairs, during the 43rd Ordinary Session of the AU’s Executive Council in Nairobi. Nigeria is one of the leading financial contributors to the AU, along with four other member states.
The AU’s budget for 2023 is $654.8 million, primarily funded through statutory contributions, voluntary contributions from development partners, and miscellaneous income. Development partners cover around 67 percent of the budget, while member states, including Nigeria, contribute the remaining balance based on the approved scale of assessment.
Ambassador Lamuwa emphasized that Nigeria’s prompt payment of its financial assessments demonstrates its commitment as a responsible AU member state. He praised President Bola Tinubu, who serves as the Chairperson of the Economic Community of West African States, for leading by example and prioritizing the timely settlement of financial obligations.
President Tinubu is expected to attend the 5th Mid-Year Coordination Meeting on Sunday in Nairobi, where discussions on important matters will occur.
“Accountability and prudent resource management were also highlighted to encourage other member countries to fulfill their financial obligations.”
Lamuwa expressed satisfaction with the incorporation of the economic outlook of African nations and the evaluation of the performance of AU departments and organs from the previous three years into the budgetary procedure. Nigeria highlighted the significance of a budget that prioritizes austerity, delivers results, and minimizes duplication.
Lamuwa urged for enhanced collaboration and synergy among AU departments and organs and proposed that the AU Commission decrease travel expenses by conducting more meetings at its headquarters in Addis Ababa, Ethiopia.