By Omoyeni Ojeifo
In a move toward financial autonomy for continental security, Nigeria recommended progressively capitalizing the AU Peace Fund to reach $1 billion, ensuring sustainable, locally driven conflict prevention.
Amb. Bianca Odumegwu-Ojukwu, the Minister of Foreign Affairs, made the call on Saturday at the 26th Extraordinary Session of the Executive Council of the African Union in Luanda, Angola, with the theme, “Strengthening Mechanisms for Conflict Prevention and Resolution in Africa.”
The Minister commended the progress made in strengthening the AU Peace Fund, noting that member states had collectively contributed about $350.2 million, representing 87.5 per cent of the original $400 million capitalisation target.
She noted that the Fund’s balance had exceeded $405 million, while about $39 million had been disbursed for mediation, preventive diplomacy, peace support operations and other interventions.
Odumegwu-Ojuwkwu urged all member states to honour their assessed contributions and make additional voluntary contributions where possible, describing these not merely as obligations but as investments in collective security and sovereignty.
“Predictable and reliable financing, remained critical to African-led peace operations, particularly for personnel, logistics, equipment and other operational needs,” the Minister said in a statement made available to PerSecondNews on Saturday by Dr. Magnus Eze, Special Assistant on Communications and News Media.
Odumegwu-Ojukwu urged the AU to progressively move from dependence on external assistance towards greater African self-reliance, while acknowledging the important role international partners continue to play in supporting peace and security on the continent.
“External assistance should complement African ownership; it should not substitute for it. African resources should remain the foundation of African peace and security financing,” she noted.
Beyond the $1 billion Peace Fund target, the minister advocated stronger resource mobilisation from African financial institutions, the private sector and strategic partners.
She also called for full implementation of the 0.2 per cent levy under the Kigali Financing Decision, urging the African Union Commission to examine innovative financing options capable of providing predictable, long-term revenue.
Among the proposals was the voluntary provision of strategically located land by member states for development by capable private-sector entities and African multilateral financial institutions.
According to her, mutually agreed arrangements could generate annual royalties for the AU, while simultaneously promoting investment, infrastructure development and stronger African partnerships.
Odumegwu- Ojukwu emphasised that such financing mechanisms must be anchored on transparency, accountability, sound financial management and effective oversight.
“Africa has the institutions, the financial capacity and the political vision to take greater responsibility for its own peace and security. What is required now is the collective political will to translate that capacity into action,” she said.
She reaffirmed Nigeria’s commitment to supporting collective African efforts, stressing that a peaceful and secure continent was essential to achieving Agenda 2063 and building an integrated, prosperous and peaceful Africa.
“Let us make the African Union Peace Fund not merely an instrument that we endorse, but an institution that we own, finance and sustain. Let us demonstrate through our contributions that African peace is an African responsibility,” Odumegwu-Ojukwu stated.
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