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.
