Nigeria Tells AU to Find New Money for Peace, Move Away From Foreign Funding
By Aboki Forex —
Nigeria has asked the African Union to explore innovative and sustainable financing for conflict prevention and resolution, cutting its dependence on external donors. Foreign Affairs Minister, Ambassador Bianca Odumegwu-Ojukwu, made the call on Saturday at the 26th Extraordinary Session of the Executive Council of the African Union in Luanda, Angola.
Minister Speaks at AU Peace Meeting
The session was convened under the theme, “Strengthening Mechanisms for Conflict Prevention and Resolution in Africa.” Odumegwu-Ojukwu spoke as Nigeria pushed for homegrown funding solutions to African security challenges.
She expressed joy over progress made in strengthening the AU Peace Fund. Member states have collectively contributed about $350.2 million, representing 87.5 per cent of the original $400 million capitalisation target. The Fund’s balance has now exceeded $405 million.
Peace Fund Already Paying Out
Odumegwu-Ojukwu explained that the Fund has disbursed about $39 million for mediation, preventive diplomacy, peace support operations and other interventions. She said this demonstrates the Fund’s growing role in addressing Africa’s peace and security challenges.
The minister argued that more innovative financing would reduce reliance on external funding and strengthen African ownership of peace efforts. Her remarks come as the AU seeks to stabilise conflict zones across the continent.
For Nigeria, a larger and better-funded AU Peace Fund means fewer external interventions in African crises and a stronger continental framework for security. That can only help Nigerian businesses operating across the region, as sustained peace improves trade routes and market stability.