Tinubu seeks debt forgiveness for Nigeria at UNGA

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President Bola Tinubu has urged the United Nations to prioritize debt forgiveness for Nigeria during the ongoing United Nations General Assembly (UNGA) in New York.

Represented by Vice President Kashim Shettima, Mr Tinubu also advocated for other developing nations to receive relief from creditors and multilateral financial institutions.

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

Mr Shettima emphasized the importance of recovering proceeds from corruption and illicit financial flows, stating that the repatriation of such funds to their countries of origin is a core tenet of the United Nations Convention Against Corruption.

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

He highlighted that insecurity is plunging citizens into severe hardship and misery, eroding their confidence in democracy. 

He stressed that restoring faith in democratic governance and constitutional order is a responsibility that falls on the international community.

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

The VP added that the High-Level African Counter-Terrorism Meeting, hosted by Nigeria in April 2024, and its outcome—the Abuja Declaration—hold significant promise in addressing the complex challenges posed by terrorism and insurgency across the continent.

Additionally, he highlighted the pressing dangers of climate change, calling it a catalyst for insecurity and a critical threat to sustainable development. 

He referenced the catastrophic flooding in Nigeria, which submerged vast areas, including Maiduguri, one of the country’s largest cities in the Northeast, underscoring the urgent need for action.