Why African nations must join foreign partnerships, by Buhari
Addressing the plenary session of the third summit of the Forum, President Buhari said that to attract massive investment in-flows, which they need to overcome the challenges of unemployment and wealth creation, Nigeria and other African countries must also establish policy environments that guarantee the sanctity of contracts on the basis of the rule of law.
The President told the gathering that since its inception in May this year, his administration has been working with determination to establish these preconditions for rapid socio-economic development and re-focus governance on the real needs of ordinary Nigerians.
“As a government, we have demonstrated our strong determination to change the direction and content of governance, including the management of our resources through accountability, transparency and result-orientation in governance.
“We are confident that India, as a tested friend and dependable partner, will always stand shoulder to shoulder with us in the discharge of the mandate entrusted to us by our people,” President Buhari said.
He expressed the hope that the India-Africa Forum will deepen, in practical terms, the South-South Cooperation that countries of the South have desired for so long.
“The current international economic and political environment is far from being favourable, particularly for developing countries. Fresh political conflicts have erupted, accentuated by terrorism and extremism in the most awful forms.
“Trans-border crimes, illegal arms trade, irregular migration and cybercrimes have all added to the new global threats that demand our collective action.
“Furthermore, the world is facing the challenge of Climate Change, in which Africa remains badly affected with severe threats to food security and social stability.
“From the West to the East, North to South, virtually every country in our respective regions is faced with unacceptable level of poverty, unemployment and a youth bulge.
“India and Africa must develop a new spirit of solidarity, cooperation and partnership to confront these emerging threats. We must recognise that, in this globalised age, we all live interconnected lives in a fragile planet. We must therefore work together to uplift the lives of our people in a manner that preserves sustainability of our living environment”.
“These challenges call for a renewed sense of urgency among African countries for economic development. It is an open secret that Africa possesses all the prerequisites to become a major growth region of the world”.
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