14.9 C
Thursday 2 February 2023
HomeAfricaThe Nigerian Electricity Regulatory Commission (NERC) has announced that from 1 July,...

The Nigerian Electricity Regulatory Commission (NERC) has announced that from 1 July, 2011, a new tariff regime will come into effect

Resources mobilization from member states to finance programmes of the African Union (AU) will once again be the subject of intense debate in the Permanent Representatives Committee (PRC) of the union, especially since the identification of alternative sources of funding has been an issue to African ministers of finance since 2009.

At the AU, where the collection of contributions of member states generally faces enormous challenges, the 2012 budget preparation of the commission may be handicapped by the crisis and conflict situations experienced by some member states.

Such states as Tunisia and Egypt are fresh out of profound political transitions and Libya’s ongoing situation of open conflict will, under the 2012 budget, have to contribute about 32 per cent of the amount allocated to states in accordance with the distribution table in force to date.

PANA noted that the African Ministers of Foreign Affairs, during their 18th session held in preparation for the last AU summit in Addis Ababa, Ethiopia, had endorsed the decision to allocate to international partners, the disbursement of US$ 134.152 billion, for the implementation of the pan-African institution’s programmes.

African ministers have also authorized the New Partnership for Africa’s Development (NEPAD) and its coordinating agency to raise the shortfall in its budget, while the African Union Commission will approach partners for funding.

The foreign ministers have also approved the decision of the African Union Commission to increase from six to seven per cent, the contribution of member states to the Peace Fund for the 2011 fiscal year.

The budget of the African Union for 2011 was fixed at US$ 256,754,447, of which US$ 122,602,045 is to come from contributions by member states and US$ 134,152,402 from international partners


Please enter your comment!
Please enter your name here

- Advertisement -