Nigeria proposes $10bn peace fund for African Union

Abdullateef Fowewe

Nigeria has called for stronger financial reforms within the African Union and proposed a $10 billion Peace Fund to support the continent’s push for greater financial independence.

In a statement posted on Saturday by the Federal Ministry of Finance, the ministry said the proposal was made by Minister of Finance Taiwo Oyedele at the 27th Extraordinary Session of the AU Executive Council on Financing the Union, held in Accra, Ghana.

“Nigeria Advocates Stronger AU Financial Reforms, Proposes $10 Billion Peace Fund,” the ministry announced.

It added that Oyedele “called for stronger AU financial reforms and proposed a $10 billion Peace Fund over the next decade to advance Africa’s financial independence.”