Nigerian Government has announced decision to pull out of the 90 international organisations out of 300 it belong to.
The development was disclosed by the Minister of Finance, Mrs. Kemi Adeosun, to the State House correspondents after the Federal Executive Council meeting in Abuja yesterday September 27th.
According to her, the decision to exit the organizations is as a result of the financial implications joining the organizations.
“Nigeria is member of 310 international organisations and a committee was set up to review the rationale for our continued membership of such a large number of organisations, particularly in the light of the fact that in many cases, we are not actually paying financial obligations and subscription which is causing some embarrassment to Nigeria and our image abroad.” she said
Adeosun added, “It was discussed that there were commitments made to some international organisations by former government which were not cash-backed.”
Nigeria owes the organizations over $100million and its failure to meet the obligations has caused the nation much embarrassment.
Adeosun said the Federal government’s plan is for Nigeria to belong only to organizations that are absolutely necessary.