The Minister of Finance Kemi Adeosun mentioned this to pressmen after the FEC executive meeting. According to the minister, Nigeria currently belongs to about 310 international organisations and is currently owing some of them money.

She said, “Nigeria is member of 310 international organisations and a committee was set up to review the rationale for our continued membership of such a large number of organisations, particularly in the light of the fact that in many cases, we are not actually paying financial obligations and subscription which is causing some embarrassment to Nigeria and our image abroad.”

The minister said Nigeria owes over $100 million in terms of fees and other financial obligations required due to its membership which has not been met.

Hence, the plan is to pull out of the organisations so as not to keep plying up the debts while a payment plan would be worked upon to ensure that previous outstanding sums were paid.

The minister said, the Federal Government henceforth planned to only belong to organisations which are absolutely necessary for Nigeria to belong to.