78th UNGA: Tinubu advances economic drive with South Africa

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President Bola Ahmed Tinubu has advanced his economic development and diplomatic drive for investment attraction with South Africa on the sidelines of the ongoing 78th United Nations General Assembly in New York.

Ajuri Ngelale, Special Adviser to the President on Media and Publicity, disclosed on Monday that Tinubu had a bilateral discussion with South African President, Cyril Ramaphosa ahead of the United Nations General Assembly in New York City.

Accordingly, 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 enlightened self-interest.

He noted that Africa’s Democracy cannot strive with the people’s poverty of knowledge and starvation.

“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 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 will no longer be a ground for economic scavenging. Still, it is a place with gifted people 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,” the President affirmed.

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 leveraging each other’s strengths.

“We are two major economies on our continent, and we must deepen economic ties, particularly in light of the African Continental Free Trade Agreement. We are very keen on deepening our economic relations,” the South African President said.

The South African President emphasized that history has proven that Nigeria and South Africa can move the world on matters of mutual concern when the two nations operate on the same wavelength.

“We would love to see Nigeria and South Africa working closely on several issues because whenever we join hands, we have made an impact globally through those joint positions. Together, we can move the global south forward. We are a continent that has been plundered. And wealthy nations made so much of it from us, and we must seek partners who will help us advance our interests,” the South African President said.

DAILY POST recalls that Tinubu departed Nigeria on Sunday for New York for the 78th United Nations General Assembly.

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