President Bola Tinubu on Monday advanced his economic development diplomatic campaign to attract investment as he participated widely in a bilateral discussion with South African President Cyril Ramaphosa in New York City ahead of the United Nations General Assembly.
Mr Tinubu stated that Africa must have a consensus view that the hundreds of billions of dollars spent through international development finance institutions over the years must meet the specific needs of developing democracies in Africa , even if it is done with exclusively his own enlightened self in mind. -interest.
“During the end of World War II, the Marshall Plan was established for the economic reconstruction and restoration of European nations through the Bretton Woods institutions. Where has this presence gone for Africa? We have to be careful not to replace yesterday’s broken shackles with a new set of shackles. You cannot have a stable democracy in the presence of poverty of knowledge and hunger of people. Democracy without food on the table is a breeding ground for what will consume us if we are not careful. We must join hands and agree that international financial institutions require reform, as Africa will no longer be a terrain for economic garbage collection, but a place with talented people who are ready for investment and cooperation.
“We have all the human and natural resources necessary among our nations. We can collaborate in a mutually beneficial way that enriches our populations. South African mining industries have a role to play in Nigeria’s solid minerals development sector. Its business community has done well in Nigerian telecommunications. We have great mineral wealth throughout our land and you have good experience in this area. We hope to generate jobs and mutually beneficial results in this area as brother countries,” said the President.
Referring to President Tinubu’s rapid implementation of what he called “courageous” economic reforms, the South African President agreed that the two countries have much more wealth to create together in a close and intentional partnership, with each nation taking advantage the respective strengths of each.
“We are two important economies on our continent and it is important that we deepen economic ties, particularly in light of the African continental free trade agreement. “We are very interested in deepening our economic relations,” stated the South African president.
The South African president emphasized that history has shown that Nigeria and South Africa can move the world on issues of mutual interest when the two nations operate on the same wavelength.
“We would love to see Nigeria and South Africa working closely on a number of issues because every time we join hands, we have had a global impact through those joint positions. Together we can advance the global south. We are a continent that has been plundered. And the rich nations got a lot out of us, and we must look for partners to help us promote our own interests,” the South African president emphasized.
Acknowledging President Tinubu’s effective stewardship as Chairman of the ECOWAS Authority of Heads of State, the South African leader said Southern Africa needed to emulate the solidarity demonstrated in West Africa, following the Niger crisis.
“We believe that we have a lot to learn from ECOWAS and its unity in reaching consensus positions on sub-regional issues. This is something we seek to emulate in the Southern African sub-region in light of developments in Mozambique and other areas,” President Ramaphosa said.
The South African leader also took the opportunity of bilateral engagement to extend an invitation to President Bola Tinubu to visit South Africa, following President Ramaphosa’s recent visit to Nigeria, as part of efforts to deepen economic ties and the broader relationship between both countries.
Accepting the invitation, President Tinubu stated that an Africa in which Nigeria and South Africa work in synergy to promote their common interests is the strongest version of the continent, which can have a greater impact on global affairs for the benefit of more than one billion Africans with their enormous wealth in human and natural resources.
“Our continent is the last untapped terrain for massive, accelerated growth and new economic opportunities on Earth. We must be in charge of our own resources and we must work to use each other effectively to achieve the best for all of us, Mr. President. We look forward to an era of economically productive relations,” concluded the Nigerian leader.
Chief Ajuri Ngelale
Special advisor to the president
(Media and advertising)
September 18, 2023
