Nigeria proposes building the AU Peace Fund to $10 billion over a decade, member states now finance only 25 percent of the AU budget
Nigeria's Minister of Finance, Taiwo Oyedele, proposed on November 13 at the 27th Extraordinary Session of the AU Executive Council on Financing the Union in Accra, Ghana, that the African Union Peace Fund be built up to $10 billion over the next decade.
Oyedele said Nigeria remained open to the proposed $1 billion target already on the table, but argued for a larger fund financed through member-state levies, philanthropy and African capital, managed along sovereign wealth fund principles, with investment returns providing sustainable financing for peace initiatives while protecting the fund's principal. He proposed retaining the interest-only rule until a sustainable replenishment mechanism is established.
Nigeria's finance ministry said member states currently finance only 25 percent of the AU budget and contribute about 4 percent of programme funding, against a 75 percent target. Oyedele said implementation must be guided by discipline, efficiency and leverage. The $10 billion figure is a Nigerian proposal and has not been adopted by the Union.
Source: Nigeria Ministry of Finance
Published by GSM · USA (original Chinese edition)
Photo: 图：位于埃塞俄比亚亚的斯亚贝巴的非洲联盟会议中心大楼。来源：Andrew Moore，Wikimedia Commons，CC BY-SA 2.0。 / Photo: The African Union Conference Center in Addis Ababa, Ethiopia. Source: Andrew Moore, Wikimedia Commons, CC BY-SA 2.0.
