Vice President Shettima Urges Global Leaders at UN Assembly to Alleviate Nigeria's Debt Burden
Nigerian Vice President Kashim Shettima, representing President Bola Tinubu at the 79th United Nations General Assembly (UNGA) in New York, has called on world leaders to prioritize debt relief for Nigeria and other developing nations. During the General Debate, Shettima highlighted how crippling debt hinders economic development in the Global South, limiting their capacity to address citizens' needs.
He urged the United Nations to strengthen multilateralism by promoting inclusivity, equality, and enhanced cooperation among member states. According to a statement from Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, the Nigerian presidency also pointed out the challenges posed by trade barriers, protectionist measures, and intense competition that threaten global investments.
Shettima emphasized that "Countries of the Global South cannot achieve significant economic advancement without special concessions and a reassessment of their current debt obligations." He also stressed the importance of recovering proceeds from corruption and illicit financial flows, asserting that the return of such funds is a key principle of the United Nations Convention against Corruption. He called for the international community to implement effective measures to enhance cooperation in recovering stolen assets and to eliminate safe havens that enable illicit financial transfers from developing countries to wealthier economies