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President Tinubu Seeks Debt Relief for Developing Nations at UN General Assembly

Madukwe Nwabuisi by Madukwe Nwabuisi
September 25, 2024
in International
Reading Time: 3 mins read
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President Tinubu Calls for Debt Relief for Developing Nations at UN General Assembly

President Tinubu Calls for Debt Relief for Developing Nations at UN General Assembly

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President Bola Tinubu has called on world leaders to strengthen multilateralism by fostering deeper relations among United Nations member states, emphasizing the importance of inclusivity, equality, and cooperation. Speaking at the General Debate during the 79th Session of the United Nations General Assembly in New York, the Nigerian President highlighted multilateralism as the most effective approach to addressing global existential challenges.

As the Chairman of the Economic Community of West African States (ECOWAS) Authority of Heads of States and Government, Tinubu expressed concern over the rise of nationalism, warning that it undermines collective efforts to solve pressing global issues such as terrorism, climate change, poverty, hyperinflation, food crises, and nuclear proliferation. He noted that prioritizing individual national interests threatens the United Nations’ foundational principles of peace, sustainable development, and human rights.

“Today, the pillars of our organization are threatened. They risk being broken by the relentless pursuit of individual national priorities rather than the collective needs of the nations assembled here,” Tinubu stated. He warned that the growing trend of singularity and nationalism undermines aspirations for peaceful and collective resolutions to global challenges.

Addressing issues such as terrorism, armed conflict, racial discrimination, hunger, pandemics, and inequality, President Tinubu emphasized that the world continues to face numerous challenges carried over from previous years. He lamented the vast sums of money being spent on wars and conflict, which he said reflect the failings of the global community to address these issues effectively.

Tinubu reaffirmed Nigeria’s commitment to multilateralism, drawing parallels with the country’s stance 65 years ago when it joined the United Nations as its 99th member. He also referenced Nigeria’s founding Prime Minister, Sir Abubakar Tafawa Balewa, stating that the country remains steadfast in its desire to maintain friendly relations with all nations and participate actively in UN activities.

Reflecting on Africa, Tinubu expressed concern over the resurgence of military coups and unconstitutional changes of government in some African countries, stressing that fragile democracies are at risk without strong economic development, peace, and security. He urged world leaders to prioritize these concerns during the high-level discussions at the UN General Assembly.

The President also called for significant reforms in the international financial architecture and advocated for a transparent, fair, and inclusive multilateral trading system. He pushed for debt relief measures, particularly for developing and least developed countries, noting that the global debt burden hampers nations’ ability to meet the needs of their citizens.

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In his address, Tinubu urged the international community to support Nigeria’s call for the recovery of proceeds from corruption and illicit financial flows, stressing that such funds should be returned to their countries of origin. He highlighted the need for practical international cooperation to recover stolen assets and eliminate safe havens for illicit funds.

On the topic of security, President Tinubu spoke about the ongoing challenges posed by terrorism, banditry, and insurgency, warning that these threats undermine peace, security, and development. He referred to the outcome of Nigeria’s High-Level African Counter-Terrorism Meeting in April 2024 and its Abuja Declaration, which promises solutions to these challenges.

Tinubu also emphasized the dangers of climate change, describing it as a driver of insecurity that threatens sustainable development. He recalled the devastating floods that submerged parts of Nigeria, including Maiduguri, and urged world leaders to fulfill their climate commitments.

The Nigerian leader called for bold reforms within the UN Security Council, advocating for permanent seats for African nations. He stressed that Africa deserves a place in the permanent member category, with the same rights and responsibilities as other permanent members. Tinubu urged the acceleration of Security Council reforms to reflect the diversity and plurality of the world.

“Africa must be accorded the respect 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,” Tinubu concluded.

This call for reform reflects Nigeria’s stance that the United Nations must adapt to remain relevant and credible in the rapidly changing global landscape.

Madukwe B. Nwabuisi
Madukwe Nwabuisi

Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.

Tags: President TinubuPresident Tinubu Seeks Debt Relief for Developing Nations at UN General Assembly

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