Nigeria Quits 90 International Bodies Over Financial Obligations

The Minister of Finance, Mrs. Kemi Adeosun on Wednesday stated that the Nigerian Government has pulled out of 90 international organisations in order to meet up with its obligations to others.

While briefing journalists at State House, Adeosun noted that the decision was reached on Wednesday at the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari.

She disclosed that the country spends $70 million every year as a member of 310 international bodies, adding that there was no need allowing such subscriptions to accumulate in organizations that play no part in the developmental aspirations of Nigeria.

Adeosun revealed that FEC had proposed a reduction of Nigeria’s membership of international organisations from 310 to 220, adding that a committee has been set up to consider the organisations the country was exiting from.

The minister also stated that the committee will prioritise organisations that Nigeria will remain as members, adding that the committee is expected to submit its report within two weeks.