Sunday, May 19, 2024
More

    Latest Posts

    Tinubu appoints governing board members for 111 tertiary institutions

    President Bola Tinubu has approved the appointments of at least 555 persons to serve as Pro-chancellors/Chairmen and members of Governing Boards of 111 federal...

    Burkina Faso, Mali, Niger form new confederation after exiting ECOWAS

    Burkina Faso, Mali, and Niger have finalised plans to form a new confederation, the Confederation of the Alliance of Sahel States, marking a geopolitical...

    Emefiele trial: How I paid $600,000 bribe to ex-CBN staff for contract, witness tells court

    A contractor with the Central Bank of Nigeria, Victor Onyejiuwa, on Friday, told the Lagos State Special Offences Court in Ikeja that he had...

    I’ll support Obi in 2027 if PDP decides – Atiku

    The 2023 presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has said that if in 2027, the party decides that it is the...

    Buhari seeks debt relief for African countries

    The President, Major General Muhammadu Buhari (retd.), on Tuesday in Paris, France, called on European countries and global financial institutions to consider debt relief for African countries.

    He said this would assist in reducing the devastating effect of the Coronavirus pandemic on the countries.

    According to a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, the President spoke at the Financing Africa Summit held at Grande Palais Ephemere with the theme: “External Financing and debt Treatment.”

    The statement was titled ‘President Buhari seeks debt relief for African countries, says PPP will reduce corruption, speed growth.’

    Shehu quoted Buhari as saying that the fall in commodity prices as COVID-19 took a toll on the global economy further slowed growth in some countries and strained health facilities.

    The President said, “It is in this vein that we solicit the support of the French government with its influence in the European Union to lend its voice to the efforts being made to mobilise additional resources for developing economies most especially Africa in order to strengthen the quantum of investments to our economies.

    “This financial support should also be extended to the private sector.”

    Buhari said the European Union should encourage fair and equitable distribution of the COVID-19 vaccines in less developed countries, and promote the establishment of manufacturing facilities.

    According to him, many African countries were already experiencing debt distress and the Debt Service Suspension by France and G-20 does not go far enough, adding that there was a need for more sustainable and affordable financing solutions, including debt relief and further debt restructuring.

    On the Paris Agreement for Climate Change, President Buhari noted that African countries would need financial support for green energy investment and COP-26.

    He said Nigeria will refocus on gas while adopting a Strategic Revenue Growth Initiative.

    On the theme of “Africa Private Sector – Reforms – Infrastructure’’, President said Public Private Partnership will be fully explored to ensure more precision in development, cutting down waste and reducing chances of corruption.

    “The government intends to leverage on Public Private Partnership to bolster its job creation and anti-corruption drive. In terms of job creation, Nigeria has an abundant labour force since 30.5 per cent of its population is between the ages of 25 and 54,” he added.

    Latest Posts

    Tinubu appoints governing board members for 111 tertiary institutions

    President Bola Tinubu has approved the appointments of at least 555 persons to serve as Pro-chancellors/Chairmen and members of Governing Boards of 111 federal...

    Burkina Faso, Mali, Niger form new confederation after exiting ECOWAS

    Burkina Faso, Mali, and Niger have finalised plans to form a new confederation, the Confederation of the Alliance of Sahel States, marking a geopolitical...

    Emefiele trial: How I paid $600,000 bribe to ex-CBN staff for contract, witness tells court

    A contractor with the Central Bank of Nigeria, Victor Onyejiuwa, on Friday, told the Lagos State Special Offences Court in Ikeja that he had...

    I’ll support Obi in 2027 if PDP decides – Atiku

    The 2023 presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has said that if in 2027, the party decides that it is the...

    Don't Miss

    I can marry someone my parents don’t accept – Singer Nasboi

    Singer Nasboi has revealed that he does not need his parents' approval before marrying a woman he loves. In a recent interview with Tacha on...

    Kogi PDP crisis deepens as 13 chairmanship aspirants reject consensus candidate

    The crisis rocking the Kogi State Chapter of the People’s Democratic Party has reached a high point as 13 chairmanship aspirants on Tuesday rejected...

    Fans left concerned after Skales posted a video of his face covered in blood

    Fans and followers of Nigerian singer Skales have been left in a state of worry and concern after he posted a video of his...

    Ikeja DisCo slashes Band A tariff to N206.80/kwh

    The Ikeja Electricity Distribution Company has slashed the tariff payable by its Band A customers to N206.80 per kilowatt-hour from the N225/kWh approved by...

    Niger forces arrest Nigerian bandit kingpin, Kachallah Mai Daji

    In the fight against cross-border banditry, the Niger Armed Forces have apprehended a notorious Nigerian bandit kingpin known as Kachallah Mai Daji near the...

    Stay in touch

    To be updated with all the latest news, offers and special announcements.