Buhari Seeks Debt Relief, COVID-19 Vaccines For Africa

Hamilton Nwosa
Writer
President Buhari’s 2022 Easter Message

Ad

The Need for Nigeria to Lead Africa in the Emerging Age of Artificial Intelligence

By Sonny Iroche Introduction: Standing at the Threshold of the Fourth Industrial Revolution The world is on the cusp of a seismic transformation driven by Artificial Intelligence (AI). Just as steam engines powered the first Industrial Revolution, electricity and mechanization the second, and digital computing the third, AI is the defining force of the Fourth…

Why Wike Should Resign or Be Sacked: A Call to Organized Civil Society in Nigeria to Uphold Anti-corruption Standards with Consistency, By Frank Tietie

By Frank Tietie The revelations by Nigerian social crusader, investigative journalist, and activist Omoyele Sowore regarding the current Minister of the Federal Capital Territory, Nyiesome Wike, are serious and warrant the attention of all Nigerians who care about the integrity of the country. Sowore has alleged that Wike laundered funds and concealed the purchase of…

Dangote Refinery Slams PENGASSAN, Describes Order as ‘Economic Sabotage’

By Abiola Olawale In an escalating labor showdown, the Dangote Petroleum Refinery has fired back at the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), criticising the latter’s order on Saturday. This is as the refinery owned by Africa’s richest person, Alhaji Aliko Dangote described PENGASSAN's order to cut crude oil and gas…

Ad

President Muhammadu Buhari has called on European countries and global financial institutions to consider reducing the devastating effect of the COVID-19 pandemic on African economies by restructuring debt portfolios and providing complete debt relief.

The president made the call at the Financing Africa Summit held at the Grande Palais Ephemere in Paris, France, on Tuesday, with the theme: “External Financing and debt Treatment”.

He observed that many African countries were already experiencing debt distress and the debt service suspension by France and the G-20 was not far reaching enough.

Buhari added that there was need for more sustainable and affordable financing solutions, including debt relief and further debt restructuring.

He also called for the release of vaccines to the Africa, which, he asserted, had been left behind in protecting majority of its citizens.

The Nigerian leader said the fall in commodity prices as COVID-19 took a toll on the global economy had further slowed growth in some countries and strained health facilities.

“It is in this vein that we solicit the support of the French government, with its influence in the European Union, to lend its voice to the efforts being made to mobilize additional resources for developing economies most especially in Africa, in order to strengthen the quantum of investments to our economies.

”This financial support should also be extended to the private sector,” he said.

The president said the European Union should encourage fair and equitable distribution of the COVID-19 vaccines to less developed countries and promote the establishment of manufacturing facilities.

As for the Paris Agreement on Climate Change, Buhari noted that African countries would need financial support for green energy investment and COP-26.

He said Nigeria was refocusing on gas, while adopting a Strategic Revenue Growth Initiative.

On the theme of “Africa Private Sector — Reforms – Infrastructure’’, the president said Public-Private-Partnerships (PPP) would be fully explored to ensure more precision in development, cutting down waste and reducing chances of corruption.

“The government intends to leverage on Public-Private-Partnerships to bolster its job creation and anti-corruption drive.

”In terms of job creation, Nigeria has an abundant labour force since 30.5 percent of its population is between the ages of 25 and 54.’’ (NAN)

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp