NAIJA NEWS
President Bola Tinubu has called for greater economic relationships between Nigeria and South Africa.
The Nigerian leader made the call during a bilateral discussion on Monday with his South African counterpart, Cyril Ramaphosa, in New York City, ahead of the United Nations General Assembly.
President Tinubu asserted 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 exclusive regard for their own enlightened self-interest.
The Nigerian leader argued that Africa has all the human and natural resources required for development but needs greater cooperation between its nations.
In his words, “During the end of the Second World War, the Marshall Plan was established for the reconstruction and economic restoration of European nations through Bretton Woods institutions. Where has this presence been for Africa? We have to be careful not to replace the broken shackle of yesterday with a new set of shackles. You can not have a stable democracy in the presence of a poverty of knowledge and a starvation of people. Democracy without food on the table is a breeding ground for what will consume us, if care is not taken. We must join hands and agree that International Finance Institutions require reform as Africa is not to be a ground for economic scavenging any longer, but it is a place with gifted people that is ready for investment and cooperation.
“We have all the human and natural resources required between our nations. We can collaborate in a mutually beneficial way that enriches our populations. South African Mining industries have a role to play in the Nigerian solid minerals development sector. Your business community has done well in Nigerian Telecommunications. We have great mineral wealth across our land, and you have good expertise in this area. We expect to deliver jobs and mutually beneficial results in this area as brother and sister countries.”
During the meeting, the South African President acknowledged Tinubu’s quick implementation of “brave” economic reforms and agreed that the two countries have much more wealth to create together in close and intentional…
