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Nigeria has efficiently fulfilled its monetary tasks to the African Union by making the total fee of its assessed contributions for the yr 2023.
This was made recognized in an announcement by the Director of Info, State Home, Abiodun Oladunjoye, on Saturday.
In response to the assertion, this was confirmed by the Everlasting Secretary of the Ministry of Overseas Affairs, Ambassador Adamu Ibrahim Lamuwa, through the forty third Atypical Session of the Government Council of the AU held in Nairobi.
Nigeria is among the many key monetary contributors to the AU, alongside 4 different member-states.
The AU’s funds for 2023 quantities to $654.8 million, primarily funded by means of annual statutory contributions, voluntary contributions from growth companions, and different miscellaneous revenue. Improvement companions play an important function in supporting the AU’s funds, overlaying roughly 67 per cent of the full quantity, whereas member-states, together with Nigeria, contribute the remaining stability primarily based on the authorised scale of evaluation by the Government Council.
Ambassador Lamuwa burdened that Nigeria’s immediate fee of its monetary assessments showcases its dedication as a accountable member state of the AU and recommended President Bola Tinubu for main by instance because the Chairperson of the Financial Neighborhood of West African States. He described Tinubu as a President who prioritises the well timed settlement of monetary obligations.
President Tinubu is anticipated to attend the fifth Mid-Yr Coordination Assembly on Sunday in Nairobi, the place discussions on varied essential issues will happen.
He stated, “Nigeria emphasised the significance of an austerity-driven, results-oriented funds that avoids duplication.
‘‘Accountability and prudent useful resource administration had been additionally highlighted to encourage different member international locations to fulfil their monetary obligations.”
He welcomed the inclusion of the financial outlook of African nations and the efficiency analysis of AU departments and organs over the previous three years within the budgetary course of. Nigeria emphasised the significance of an austerity-driven funds that focuses on outcomes and avoids duplication.
Lamuwa known as for nearer collaboration and complementarity amongst AU organs and departments and requested that the AU Fee cut back journey prices by internet hosting extra conferences at its headquarters in Addis Ababa, Ethiopia.
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