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 on Saturday 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.
She added that the Fund’s balance had surpassed $405 million, while approximately $39 million had been disbursed for mediation, preventive diplomacy, peace support operations and other peace and security interventions.
Odumegwu-Ojukwu urged AU member states to fulfil their assessed contributions and, where possible, make additional voluntary contributions to strengthen the Fund.
She described such contributions not merely as financial obligations but as investments in Africa’s collective security and sovereignty.
The Minister warned that African-led peace operations could be undermined by unpredictable funding, particularly in meeting the costs of personnel, logistics, equipment and other operational requirements.
She therefore advocated a gradual transition from reliance on external assistance towards greater African self-reliance in financing peace and security operations.
“External assistance should complement African ownership; it should not substitute for it.
African resources should remain the foundation of African peace and security financing,” she said.
The Minister further called for progressive capitalisation of the AU Peace Fund towards its $1 billion target, alongside stronger mobilisation of resources from African financial institutions, the private sector and strategic partners.
She also urged full implementation of the 0.2 per cent levy under the Kigali Financing Decision, while asking the AU Commission to explore additional innovative financing mechanisms capable of generating predictable and sustainable long-term revenue.
Among the proposals put forward was the voluntary allocation of strategically located land by member states for development by qualified private-sector companies and African multilateral financial institutions.
According to the minister, mutually agreed arrangements could enable the AU to earn annual royalties from such developments while simultaneously encouraging investment, infrastructure development and stronger partnerships among African institutions and businesses.
She, however, stressed that any new financing mechanisms must be underpinned by transparency, accountability, sound financial management and effective oversight.
“Africa has the institutions, the financial capacity and the political vision to take greater responsibility for its own peace and security.
“What is required now is the collective political will to translate that capacity into action,” she said.
Odumegwu-Ojukwu reaffirmed Nigeria’s commitment to collective African efforts to promote peace and security.
She stressed that a stable continent was critical to achieving the objectives of Agenda 2063 and building an integrated, prosperous and peaceful Africa.
“Let us make the African Union Peace Fund not merely an instrument that we endorse, but an institution that we own, finance and sustain.
“Let us demonstrate through our contributions that African peace is an African responsibility,” she added.
(vitalnewsngr.com)
