•Says capital mobilisation for Africa can’t be ignored
By Egena Sunday Ode
President Bola Tinubu has said collaboration and inclusiveness are necessary to achieve global food security.
He said they will also help to address collective challenges, and drive innovation across a chain of interests for a more stable and prosperous world.
Special Adviser to the President on Media and Publicity, Ajuri Ngelale, stated this in a statement on Sunday.
Tinubu, according to the statement, was speaking during a high-level panel session at the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh, Saudi Arabia, on Sunday.
President Tinubu said “collaboration and inclusiveness”, especially with regard to Africa, are elemental to building a future of hope, peace, and progress for all, the statement noted.
He said capital mobilization, which is needed to spur economic growth and associated advancements in Africa, cannot be overlooked any longer.
The President posited that the continent is richly endowed but that the diversity of its resources must reflect in its wherewithal and economic realities.
“The capital formation that is necessary to drive the economy, agriculture, ensure food security, innovation, and technological advancement must be an inclusive programme of the entire world. No one should be left behind.
“I am glad the world is recognizing the need for cooperation, and that with the type of population growth that Africa is experiencing; the diversity of its resources must be married with economic opportunity. We must collaborate to achieve that,” President Tinubu said.
The President called on global leaders to pay attention to the developments in the Sahel, emphasizing the need for a studied understanding of the vectors of the current situation, while suggesting collaboration in the pursuit of enduring solutions.
“We are encouraging the entire world to pay attention to the Sahel and the other countries around us. As the Chairman of ECOWAS Authority of Heads of State and Government, I have wielded the big influence of Nigeria to discourage all unconstitutional change of government. Equally, we have eased the sanctions. We need to trade with one another; not fight each other. It is very necessary and compulsory for us to engender growth, stability, and economic prosperity for our people in West Africa.
“The rest of the world needs to look at the fundamentals of the problem; not just geopolitically, but at the root. Has the world paid attention to the poverty level in the Sahel and the rest of ECOWAS? Have they facilitated the infusion of capital and paid adequate attention to ensuring the exploitation of resources and the creation of opportunities presented by the mineral resources available?
“Are we going to play a big-brother role in a talkshop without taking necessary action? We just have to be involved in the promotion and prosperity of that region in order to see peace, stability, and economic growth,” President Tinubu said.
Detailing the steps taken to set Nigeria’s economy on the path of expeditious recovery, the President said he had to take tough but essential decisions like removing fuel subsidy – with its attendant perils – and managing the nation’s currency, effectively removing corruption-laden arbitrage.
“Concerning the question of subsidy removal, there is no doubt that it was a necessary action for my country not to go bankrupt and to reset the economy and the pathway to growth. It was going to be difficult, but the hallmark of leadership is making difficult decisions when they need to be made”.
