Nigeria can earn more foreign exchange from UN peacekeeping, says envoy

Nigeria’s Permanent Representative to the United Nations, Ambassador Jimoh Ibrahim, has said the country could significantly increase its foreign exchange earnings by securing a larger share of the United Nations’ multi-billion-dollar peacekeeping budget.

Ibrahim, who recently assumed office as Chairman of the United Nations General Assembly’s Fifth Committee, said Nigeria had yet to fully maximise the financial opportunities available through its participation in UN peacekeeping operations.

The former senator spoke with journalists at the State House, Abuja, on Tuesday ahead of a scheduled meeting with President Bola Tinubu on Wednesday.

According to him, the UN spends about $6.5 billion annually on peacekeeping operations and another $3.4 billion on general administration, presenting opportunities for countries with strong military and peace support capabilities to generate substantial foreign exchange.

“I see many countries depending on peacekeeping for their foreign exchange. What is Nigeria getting from peacekeeping?” Ibrahim said.

“A country can earn money, just like from oil or crude oil, from peacekeeping. So if your military capacity is strong, if you have a lot of recruitment and training, you can earn significantly.

“So I see us paying out so much money on peacekeeping, about $6.5 billion every year, and I want to see how much Nigeria is actually getting from that.”

He said discussions were already ongoing within the UN system to determine Nigeria’s current earnings from peacekeeping operations and identify ways to increase the country’s returns.

“We are working with the General Assembly to see how much we are doing.