Nigeria has met its financial responsibilities to the African Union (AU) by fully paying its assessed contributions for 2023. The confirmation was provided on the fringes of the 43rd Ordinary Session of the AU Executive Council in Nairobi, Kenya, on Saturday by Amb. Adamu Ibrahim Lamuwa, Permanent Secretary, Ministry of Foreign Affairs.
According to Ambassador Lamuwa, the payment indicates Nigeria’s dedication to its responsibilities as an AU member-state. He complimented President Bola Tinubu for exceeding expectations not just as ECOWAS Chairperson, but also as a President who prioritizes timely payment of financial assessments.
The Permanent Secretary expressed Nigeria’s position on the AU’s proposed 2024 budget during the Executive Council meeting. He praised the assessment of African countries’ economic outlooks and the execution record of AU ministries and organs over the previous three years in the budget-drafting process.
”Nigeria stressed the significance of a budget that is austerity-driven, results-oriented, and eliminates duplication. ”Accountability and wise resource management were also emphasized to urge other member countries to meet their financial obligations,” he added.
The Permanent Secretary urged the AU Commission (AUC) to decrease travel costs by hosting more meetings at its headquarters in Addis-Abeba, Ethiopia. He also emphasized the importance of adhering to internal audit processes to promote transparency and accountability.
President Tinubu is expected to attend the 5th Mid-Year Coordination Meeting on Sunday in Nairobi, where he will discuss other important issues. Ambassador Lamuwa further stated that the ministerial-level conference that preceded the participation of the Heads of State approved the theme of Education for the AU in 2024.
He remarked that this coincides nicely with President Tinubu’s domestic focus on education, making his leadership in Nigeria and ECOWAS timely and helpful. Nigeria, along with four other member states, is a major financial contributor to the African Union (AU).
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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