Nigeria pulls out of 90 international bodies

Nigeria has pulled out of 90 international organization for being unable to meet obligations

The Minister of Finance, Mrs. Kemi Adeosun, on Wednesday said the federal Government has pulled out from 90 international bodies so as to be able to meet up with its obligations.

She said this at Federal Executive Council, FEC, meeting in Abuja.

Kemi disclosed that the country spends $70 million every year as a member of 310 international organizations, adding that it had not been meeting up with its obligations. The country currently owes the organisations over $100million and its failure to meet the obligations has caused the country embarrassment.

As part of plans for the country’s exit from the organisations, the Federal Executive Council has mandated a committee to come up with and present recommendations to it for ratification. The committee is expected to submit its report within two weeks.

The decision is as a result of the financial implications of the country’s membership of the organisations.

She said a committee has been set up to consider the organizations the country was exiting from and
The minister added that the committee will prioritise the organisation the country has to retain.