During the 6th Session of the Nigeria-US bi-national commission in Abuja on Monday, the Minister of Foreign Affairs, Yusuf Tuggar, disclosed the Nigerian government’s commitment to allocating repatriated illicit funds to infrastructure development, focusing on crucial sectors in need of significant investment.
Represented by the Permanent Secretary of the Ministry of Foreign Affairs, Adamu Lamuwa, Ambassador Tuggar appealed to the United States of America to repatriate more illicit funds transferred from Nigerian officials through its banking system.
He reiterated the government’s pledge to utilize these funds for the collective benefit of its citizens, in accordance with agreements with development partners.
Highlighting the insufficiency of the $308 million repatriated so far compared to Nigeria’s losses from illegal fund transfers over the years, Ambassador Tuggar emphasized that the funds would be directed towards infrastructure development.
Specifically, he mentioned projects such as roads, schools, education, and other vital sectors requiring substantial investment.
He stated, “I would like to appreciate the fallout of the Democratic National Convention held in February 2020 in Washington, DC. The governments of Nigeria, the United States, and Jersey signed a tripartite agreement to return to Nigeria the sum of over $308 million of funds stolen from the country.
“I would also urge the U.S. to do more because $308 million is a meager amount when you look at the resources that Nigeria has lost over the years due to illegal transfers of funds from the country.
“The Nigerian government has committed to using these funds for the benefit of all Nigerians, as agreed with development partners.
These funds are aimed at developing infrastructure, particularly projects in roads, schools, education, and other sectors of the economy that require this substantial return.”
Lamuwa emphasized the relevance and timeliness of this year’s theme, “Partnership for Mutual Benefit and Development,” stressing the pressing need for collaboration.
He noted that bolstering ties between Nigeria and the United States, as two major democracies, holds promise for an even more robust partnership, fostering peace, prosperity, and advancement in Africa.
