Global institutions, other countries and private sector actors must see African development as a priority, not just for Africa, but for their interests as well. Due to long-standing internal and external factors, Nigeria and Africa’s economic structures have been skewed to impede development, industrial expansion, job creation and the equitable distribution of wealth. If Nigeria is to fulfil its duty to its people and the rest of the continent, we must create jobs and encourage belief in a better future for our people.
To foster economic growth and investor confidence, the current government removed the expensive and corrupt fuel subsidy while also discarding the exchange rate system. Other growth- and job-oriented reforms are in development.
I am mindful of the transient hardship that reform can cause. However, it is necessary to go through this phase in order to establish a foundation for durable growth and investment to build the economy our people deserve. We welcome partnerships with those who do not mind seeing Nigeria and Africa assume larger roles in the global community. The question is not whether Nigeria is open for business, but rather how much of the world is truly open to doing business with Nigeria and Africa in an equal, mutually beneficial manner. Direct investment in critical industries, the opening of ports to a broader audience, a larger quan-tity of African exports and meaningful debt relief are all important aspects of the cooperation that we seek.
We must also affirm democratic governance as the best guarantor of the sovereign will and well-be-ing of the people. Military coups are wrong, as is any tilted civilian political arrangement that perpetuates injustice. The wave crossing parts of Africa does not demonstrate favour towards coups. It is a demand for solutions to perennial problems. Regarding Niger, we are negotiating with the military leaders. As chairman of ECOWAS, I seek to help re-establish democratic governance in a manner that addresses the political and economic challenges confronting that country, including extremists who seek to foment instability in our region. I extend a hand of friendship to all who genuinely support this mission.
In Nigeria, we shall build political consensus by highlighting remedial actions which also promote economic good. Projects such as a green wall to stop desert encroachment, halting the destruction of our forests by mass production and distribution of gas-burning stoves, and providing employment in local water-management and irrigation projects are examples of efforts that equally advance both economic and climate change objectives.
Continental efforts regarding climate change will register important victories if established economies are more forthcoming with public and private sector investment in Africa’s preferred climate initiatives. Again, this would go far in demonstrating that global solidarity is real and working.
Lastly, let me emphasise that Nigeria’s objectives accord with the guiding principles of the UN and other world bodies: peace, security, human rights and development. In fundamental ways, nature has been kind to Africa, giving abundant land, resources, and creative and industrious people. However, the sad tendency of individuals to mistreat each other has brought sustained hardship to Africa’s doorstep.
As for Africa, we seek to be neither appendage nor patron. We do not wish to replace old shackles with new ones. Instead, we hope to walk the rich soil and live under the African sky free of the wrongs of the past and clear of their associated encumbrances. We desire a prosperous, vibrant, democratic living space for our people. I invite the rest of the world to walk with us as true friends and partners. Africa is not a problem to be avoided nor is it to be pitied. Africa is nothing less than the key to the world’s future. This viewpoint was adapted from an address given at the 78th UN General Assembly held in September 2023.
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