Nigeria Tasks AU on Innovative Financing to Strengthen Peace, Security
Michael Olugbode in Abuja
Nigeria has called on the African Union (AU) to develop innovative and sustainable financing mechanisms capable of strengthening the continent’s ability to prevent and resolve conflicts without excessive dependence on external funding.
The Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, made the call yesterday in Luanda, Angola, at the 26th Extraordinary Session of the Executive Council of the African Union, convened under the theme, “Strengthening Mechanisms for Conflict Prevention and Resolution in Africa.”
The minister commended progress recorded in strengthening the AU Peace Fund, saying member states had collectively contributed about $350.2 million, representing 87.5 per cent of the original $400 million capitalisation target.
