UNGA 79: Tinubu Seeks Debt Forgiveness For Nigeria

President Bola Ahmed Tinubu of Nigeria has emphasized the need for collective action and multilateral cooperation to address pressing global challenges.

Speaking at the 79th United Nations General Assembly (UNGA 79), Tinubu called for debt forgiveness, reforms in the international financial architecture, and a permanent UN Security Council seat for Nigeria.

Tinubu, represented by the Vice President, Kashim Shettima, stressed that multilateralism is crucial in tackling issues such as terrorism, climate change, poverty, food crises, hyper-inflation, nuclear proliferation, and grinding debt burden. He expressed concern over the pursuit of individual national priorities undermining global cooperation.

“Today, these pillars of our organisation are threatened. They risk being broken by the relentless pursuit of individual national priorities rather than the collective needs of the nations that are assembled here today.

“While commitment to multilateralism offers us the surest guarantee of global action to address the existential challenges we face, singularity and nationalism are undermining the aspirations towards the peaceful and collective resolution of such challenges,” Tinubu said.

The Nigerian leader highlighted the devastating impact of climate change, citing the recent floods in Nigeria, and urged nations to implement commitments made at COP meetings. The President also emphasized the need for conflict prevention, citing the normalization of violence and civilian casualties.

READ ALSO

•Tinubu NSA Aware Of Matawalle’s Romance With Bandits – Gov Lawal

•Exposed: How EFCC Officials Allegedly Collected N15m Bribe To Strike Out Money Laundering Charge Against Bobrisky

“From last year’s summit, and indeed from previous years, we have carried over the numerous challenges of terrorism, armed conflict, inequality, poverty, racial discrimination, human rights abuses, food crises, hunger, irregular migration, piracy, global pandemics, hyper-inflation, nuclear proliferation, grinding debt burden, climate change, and a host of other vexations.

“The continued manifestation of these challenges testifies to our failings rather than to any lofty achievements on our part. Billions of dollars are being committed to the prosecution of wars and the fanning of the embers of conflict.”

Tinubu reaffirmed Nigeria’s commitment to multilateralism, echoing the country’s founding Prime Minister, Sir Abubakar Tafawa Balewa. “We remain committed to that ‘desire to remain friendly with all nations and participate actively in the works of the United Nations’.”

The President also lamented the return of unconstitutional changes of government and forceful military coups in some African countries. “Our people need employment. They need decent livelihoods. They desire good and affordable education and healthcare for their children and families. They need to live in healthy, safe and secure environments. They need hope and they need opportunity.”

Regarding economic development, Tinubu emphasized the need for reforms. “It is for this and other reasons that we reiterate the call by countries, especially of the global South, for reform of the international financial architecture and promotion of a rules-based, non-discriminatory, open, fair, inclusive, equitable and transparent multilateral trading system.”

On debt forgiveness, Tinubu stated, “Similarly, we must ensure that any reform of the international financial system includes comprehensive debt relief measures, to enable sustainable financing for development. Countries of the global South cannot make meaningful economic progress without special concessions and a review of their current debt burden.”

Tinubu further insisted on bold reforms in the UN Security Council. “The Security Council should be expanded, in the permanent and non-permanent member categories, to reflect the diversity and plurality of the world. We fully support the efforts of Secretary-General Guterres in this regard.”

“Africa must be accorded the respect that it deserves in the Security Council. Our Continent deserves a place in the permanent members category of the Security Council, with the same rights and responsibilities as other Permanent Members.”