President Muhammadu Buhari Thursday said global solidarity was the hope for humanity and called on developed countries and international financial institutions to see the need for the cancellation of the debt of ”needy countries” especially in Africa to enable them to reverse the devastations of COVID-19 to the human race.

Why Buhari Pled For Debt Cancellation For African Counties
President Buhari renewed the appeal for debt cancellation for African counties in a virtual meeting tagged ”High-Level Event on Financing for Development in the Era of COVID-19 and Beyond”, convened by Canada, Jamaica and the Secretary-General of the United Nations.

Equally, the President urged major nations to provide free additional resources through an international consensus to assist poor countries to fight the coronavirus pandemic.

The Nigerian leader cautioned major nations against adopting a ”me first” and ”every man for himself” attitude, warning that the consequences for all of us in the 21st century can only be imagined.

His words: ‘‘The world has changed through COVID-19 and so must the global financing architecture for development financing and the response to the current pandemic. There is an urgent need for weak and needy countries especially those of Africa, to receive a fresh reprieve.

”This is a historic plague affecting every corner of the globe. In the circumstances, the response needed must be global, unconditional, comprehensive, and rapid. Debts must be forgiven and canceled. Free additional resources are needed urgently through an international consensus to enable poor countries to work to reverse the devastations of COVID-19 to the human race.

”Rising now and standing together in true global solidarity to my mind is the only hope for humanity, the best approach to safeguarding the 2030 SDGs and the only way we can build back for more resilient economies and societies. ”

The President also used the occasion to apprise the international community on the devastating impact of the pandemic on the Nigerian economy, the health sector and efforts by his government to mitigate the crisis.

”For Nigeria, the shocks are multiple, including the sharp decline in international oil prices which has negatively impacted revenues and growth, worsened external and domestic positions, and further increased banking sector vulnerabilities, resulting in the enormous human and economic toll on the country.

”We have been proactive in implementing a number of strong measures, including fiscal, monetary and structural policies, and a multi-front response to the health crisis created by COVID-19 which captures all tiers of Government as well as the private sector.

”Our objective is to revert to the government’s planned medium-term fiscal consolidation path once the crisis is over. Our strategy for macroeconomic stability is anchored on our home-grown Economic Recovery and Growth Plan (ERGP), ” he said.

Furthermore, President Buhari said Nigeria had revised its 2020 budget downwards and shifted emphasis to response activities towards bridging the critical gaps in the health infrastructures to strengthen national response to COVID-19 and other diseases...Keep Reading

cjrane:


Yes, lets ask the Oyinbo mugus to forgive the debt, then we will just ask for more loans that they will be pressured to forgive after 3 years

Walahi, Oyinbo are very silly and we Africans are very wise!

You can imagine his Wisdom

Just imagine what a president is saying... And this is only happening because of lack of effectiveness in ruling - lack of strategy to establishing income for the country..

LatestTori4Town:


President Muhammadu Buhari Thursday said global solidarity was the hope for humanity and called on developed countries and international financial institutions to see the need for the cancellation of the debt of ”needy countries” especially in Africa to enable them to reverse the devastations of COVID-19 to the human race.

Why Buhari Pled For Debt Cancellation For African Counties
President Buhari renewed the appeal for debt cancellation for African counties in a virtual meeting tagged ”High-Level Event on Financing for Development in the Era of COVID-19 and Beyond”, convened by Canada, Jamaica and the Secretary-General of the United Nations.

Equally, the President urged major nations to provide free additional resources through an international consensus to assist poor countries to fight the coronavirus pandemic.

The Nigerian leader cautioned major nations against adopting a ”me first” and ”every man for himself” attitude, warning that the consequences for all of us in the 21st century can only be imagined.

His words: ‘‘The world has changed through COVID-19 and so must the global financing architecture for development financing and the response to the current pandemic. There is an urgent need for weak and needy countries especially those of Africa, to receive a fresh reprieve.

”This is a historic plague affecting every corner of the globe. In the circumstances, the response needed must be global, unconditional, comprehensive, and rapid. Debts must be forgiven and canceled. Free additional resources are needed urgently through an international consensus to enable poor countries to work to reverse the devastations of COVID-19 to the human race.

”Rising now and standing together in true global solidarity to my mind is the only hope for humanity, the best approach to safeguarding the 2030 SDGs and the only way we can build back for more resilient economies and societies. ”

The President also used the occasion to apprise the international community on the devastating impact of the pandemic on the Nigerian economy, the health sector and efforts by his government to mitigate the crisis.

”For Nigeria, the shocks are multiple, including the sharp decline in international oil prices which has negatively impacted revenues and growth, worsened external and domestic positions, and further increased banking sector vulnerabilities, resulting in the enormous human and economic toll on the country.

”We have been proactive in implementing a number of strong measures, including fiscal, monetary and structural policies, and a multi-front response to the health crisis created by COVID-19 which captures all tiers of Government as well as the private sector.

”Our objective is to revert to the government’s planned medium-term fiscal consolidation path once the crisis is over. Our strategy for macroeconomic stability is anchored on our home-grown Economic Recovery and Growth Plan (ERGP), ” he said.

Furthermore, President Buhari said Nigeria had revised its 2020 budget downwards and shifted emphasis to response activities towards bridging the critical gaps in the health infrastructures to strengthen national response to COVID-19 and other diseases...Keep Reading

I taught they said ayishas boyfriend didn't speak at the conference..what is going on for Gods sake

U must pay back those loans..

Clueless man bereft of ideas. Mallam Ruga

Great leader, saying the right thing at the right time.
We are not paying any freaking dime.
God bless the general.

panafrican:
Great leader, saying the right thing at the right time.
We are not paying any freaking dime.
God bless the general.

great leaders do great things....and great things does not involve great borrowings in d name of providing basic infrastructure.....and then looting it again in a great way