The Minister of Finance, Mrs. Kemi Adeosun says the Federal Government has pulled out of 90 international organisations so as to be able to meet up with its obligations to others.
Briefing State House correspondents, she said the decision was reached on Wednesday at the Federal Executive Council, FEC, meeting presided over by President Muhammadu Buhari.
The minister revealed that the country spends $70 million every year as a member of 310 international bodies, adding that there was no need allowing such subscriptions to accumulate in organizations that play no part in the developmental aspirations of Nigeria.
Disclosing that the FEC had proposed a reduction of Nigeria’s membership of international organizations from 310 to 220, she said that a committee has been set up to consider the organizations the country was exiting from.
Adeosun also stated that the committee will prioritise organisations that Nigeria will remain as members, adding that the committee is expected to submit its report within two weeks.