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Tinubu urges debt forgiveness, permanent seat for Africa at UN General Assembly

"He urged reforms in the international financial architecture and a transparent multilateral trading system, highlighting the need for debt relief measures to enable sustainable financing for development"

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President Bola Tinubu has urged world leaders at the 79th session of the United Nations General Assembly (UNGA) in New York to consider debt forgiveness to alleviate the fiscal burdens on Nigeria and other developing nations.

The President also called for bold reforms in the UN Security Council, giving Nigeria and other African countries permanent seats.

“Africa must be accorded the respect it deserves in the Security Council. Our continent deserves a place in the permanent members category with the same rights and responsibilities as other permanent members,” he said in a speech delivered on his behalf by
Vice President Kashim Shettima.

Tinubu pointed out the need for collective action against global challenges such as terrorism, climate change, poverty, and inequality.

He expressed concerns about the rise of nationalism and singularity, undermining multilateralism and the principles of inclusivity, equality, and cooperation.

“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 assembled here today,” he stated.

The Nigerian leader stressed that the United Nations stands for multilateralism, representing inclusiveness, peace, sustainable development, and human rights.

He urged reforms in the international financial architecture and a transparent multilateral trading system, highlighting the need for debt relief measures to enable sustainable financing for development.

Tinubu requested prioritization of debt forgiveness for Nigeria and other developing countries from creditors and multilateral financial institutions.

“Countries of the global south cannot make meaningful economic progress without special concessions and a review of their current debt burden,” he added.

The President also addressed insecurity, terrorism, and climate change, emphasizing the importance of international cooperation to recover stolen assets and eradicate safe havens for illicit financial flows.

He reaffirmed Nigeria’s commitment to global peace initiatives and multilateralism.

The Nigerian leader lamented the return of unconstitutional government changes and forceful military coups in some African countries, pointing out that these coups attest to how fragile democracy can become when not supported by economic development and sustained peace and security.

On insecurity, the President noted that terrorism, banditry, and insurgency are plunging citizens into untold hardship and misery, affecting their confidence in democracy.

“We cannot build durable societies with the threat of terrorism growing in our countries and regions. Violent extremism remains an existential threat to national and international peace, security, and development.”

Tinubu warned that it is a driver of insecurity that poses a real challenge to sustainable development.

He implored the international community to stick to the implementation of commitments made at various COP meetings, pointing out that failure to do so would amount to postponing the inevitable.

Nigeria has been steadfast in its commitment to deepening multilateralism since joining the United Nations as the 99th member state 65 years ago.

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