…Tinubu: Relief A Right, Not Sympathy For Poor Nations
… .Says Africa Needs Fair Play, Not Debt Traps
Daud Olatunji
Nigeria has urged world leaders to adopt urgent and binding mechanisms for sovereign debt relief, describing it as a pathway to peace and prosperity rather than a gesture of charity.
President Bola Tinubu, represented by Vice President Kashim Shettima, made the appeal while delivering Nigeria’s national statement at the 80th United Nations General Assembly (UNGA) in New York on Wednesday.
Tinubu called for the establishment of an international framework akin to a “court of justice for money” that would enable emerging economies to escape what he described as the economic straitjacket of debt and dependence.
“It has been over four decades since the Lagos Action Plan outlined a route away from debt and dependence.
“That vision of local value addition in agriculture, solid minerals, and petrochemicals must be revived if we are to achieve genuine prosperity,” Tinubu said.
The president reaffirmed Nigeria’s commitment to the African Continental Free Trade Area (AfCFTA) and the Sustainable Development Goals (SDGs), stressing that sustainable growth could only be achieved through reforms that prioritize inclusive development.
Tinubu also linked peace and stability in Africa to equitable access to strategic resources, warning that minerals, which should drive progress, have too often fueled conflict.
“From Sierra Leone in the 1990s to Sudan today, natural resources have been turned into tools of violence.
“Nigeria itself has abundant critical minerals that can power future technologies. Proper investment and processing in Africa can not only diversify global supply but also reduce tensions between major economies,” he added.
While welcoming peace efforts in the Democratic Republic of Congo, Tinubu noted that Africa has recorded progress in managing its affairs and called on the global community to back reforms that would strengthen the international financial system.
“With the right reforms, Africa can take its progress to the next level, creating new opportunities for trade, investment, and profit,” he said.
The Nigerian leader emphasized that debt relief was not a plea for sympathy but a demand for fairness and a chance for developing nations to fully harness their economic potential.
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