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Nigeria calls for debt relief and Security Council reform

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President Bola Ahmed Tinubu has called on world leaders to recommit to multilateralism by deepening relations among United Nations (UN) member states in accordance with the principles of inclusiveness, equality and cooperation.

This, he said, is the surest guarantee of global action in the face of the existential challenges facing the international community.

President Tinubu, Chairman of the Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS), made the call while addressing world leaders during the general debate of the ongoing 79th session of the United Nations General Assembly (UNGA) at the UN Headquarters in New York, United States.

Headquarters of the ECOWAS Parliament

Represented by his deputy, Vice President Kashim Shettima, at the annual high-level global event, the President denounced the steep slide towards singularity and nationalism which he said is undermining the quest for a peaceful and collective solution to global challenges such as terrorism, climate change, poverty, food crises, hyperinflation, nuclear proliferation and crippling debt burden, among others.

The Nigerian leader reminded world leaders that the United Nations stands for multilateralism that represents inclusion, anchored on the tripod of peace, sustainable development and human rights.

She expressed concern about the UN's core goals and how it could sustain the world body's relevance and resilience, noting that the organization's pillars risk breaking down in the face of the principles of inclusion, equality and cooperation it upholds.

President Tinubu said: “Today, these pillars of our organization are under threat. They risk being broken by the relentless pursuit of individual national priorities rather than addressing the collective needs of the nations gathered here today.

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

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

“The continued manifestation of these challenges is a testament to our failures, rather than any significant achievements on our part. Billions of dollars are being spent on continuing wars and fanning the flames of conflict.”

Not satisfied, the President reaffirmed what he called “Nigeria’s firm commitment to deepening multilateralism,” just as it did 65 years ago when it “joined the United Nations as the 99th Member State.”

“We remain committed to that “desire to remain friendly to all nations and to participate actively in the work of the United Nations,” as expressed by our founding Prime Minister, Sir Abubakar Tafawa Balewa.”

President Tinubu also lamented what he described as the return of unconstitutional changes of government and forced military coups in some African countries, saying that these coups are testimony to how fragile democracy can become when it is not supported by economic development and sustained peace and security.

This, he said, should be of paramount concern in the deliberations of the high-level segments of the 79th Session of the United Nations General Assembly, as forced changes of government have led to “impatience in cities and towns at the sometimes slow and tiring turning of the wheel of democracy.”

“Our people need jobs, decent livelihoods, quality and affordable education and healthcare for their children and families, living in healthy, safe and secure environments, hope and opportunities,” he added.

President Tinubu also called for reforms to the international financial architecture and a transparent multilateral trading system, expressing the hope that “the adoption of the Compact for the Future will change the narrative, reposition economies and translate into concrete measures that provide solutions to the challenges facing developing and least developed countries.”

“It is for these and other reasons that we reiterate the call of countries, especially those in the global South, to reform the international financial architecture and promote a rules-based, non-discriminatory, open, fair, inclusive, equitable and transparent multilateral trading system,” he said.

Stressing the dangers of moving away from multilateralism, the Nigerian leader also drew the UN's attention to the global debt burden that undermines the ability of countries and governments to meet the needs of their citizens, trade barriers and protectionist policies that destroy the hopes of nations, and uncontrollable competition that dampens motivation and hampers global investments.

Specifically, he called on the UN to prioritize debt forgiveness for Nigeria and other developing countries owed to creditors and multilateral financial institutions.

“Likewise, we must ensure that any reform of the international financial system includes comprehensive debt relief measures, to enable sustainable financing for development. Countries in the global South cannot make significant economic progress without special concessions and a review of their current debt burden,” he said.

The Nigerian leader called for the recovery of proceeds from corruption and illicit financial flows, arguing that the return of such funds to the countries of origin “is a fundamental principle of the United Nations Convention against Corruption.”

United Nations flag waving

“Therefore, the international community must promote practical measures to strengthen international cooperation to recover and return stolen assets and eradicate safe havens that facilitate illicit flows of funds from developing countries to developed economies,” he added.

On insecurity, President Tinubu noted that the menace is plunging citizens into untold hardship and misery which in turn is affecting people's confidence in democracy, stressing that restoring confidence in democratic governance and constitutional order is the duty of the international community.

“We cannot build lasting societies if the threat of terrorism, banditry and insurgency increases in our countries and regions. Indeed, violent extremism remains an existential threat to national and international peace, security and development. We are making concerted efforts to contain and roll back this threat,” he said.

However, President Tinubu assured that the “African High Level Meeting on Counter Terrorism hosted by Nigeria in April 2024 and its outcome – the “Abuja Declaration” – promise to provide solutions to the challenges posed by terrorists and insurgents.”

He also warned of the dangers of climate change, describing it as a factor of insecurity that poses a real challenge to sustainable development, while recalling the devastating flood in Nigeria that submerged large areas of the country, “including one of our largest cities, Maiduguri, in the northeast.”

The Nigerian leader implored the international community to stick to implementing the commitments made at the various COP meetings, noting that failure to do so would be tantamount to postponing the inevitable, as no country is immune to the effects of climate change.

The President, who noted that conflict prevention is the main reason why the UN was created, lamented that the task of preventing such conflicts has become arduous after their normalization “when even condemnation of violence and civilian casualties, and calls for a ceasefire, are somehow considered controversial.”

He listed some of the root causes of conflict, including poverty, hunger, ignorance, inequality and exclusion, as well as other forms of injustice, as well as the conflict in Sudan and the war in Gaza and other Palestinian territories.

“What this tells us is that the international community has failed to live up to the spirit and aspirations of the United Nations to rid the world of inequality, violence and the domination of one people by another. Justice is the antithesis of revenge,” he said.

President Tinubu further called for bold reforms in the United Nations Security Council with a view to giving Nigeria and other African countries permanent seats on the Council, stressing that it has since become imperative for the United Nations to strengthen its relevance and credibility in a rapidly changing world.

He said that “some permanent members of the United Nations Security Council have given encouraging, albeit timid, indications of support for the issue of Council reform. We welcome the change of tone and urge that the process be accelerated.”

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“The Security Council should be expanded, both in the permanent and non-permanent membership categories, to reflect the diversity and plurality of the world. We fully support Secretary-General Guterres’ efforts in this regard.

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

*Stanley Nkwocha**Senior Special Assistant to the President for Media and Communications**(Office of the Vice President)**September 24, 2024*

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