Developing countries need debt cancellation – President Buhari

Developing Countries need Debt Cancellation President Muhammadu Buhari at UNGA

President Muhammadu Buhari has sought outright debt cancellation for developing countries facing severe fiscal and liquidity challenges.

According to him, the burden of unsustainable external debt must be lifted.

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The President spoke at the 77th Session of the United Nations General Assembly (UNGA) in New York.

He also promised to leave a legacy of free, fair elections.

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He said Nigerians must be free to choose their leaders.

Buhari said: β€œWe believe in the sanctity of constitutional term limits and we have steadfastly adhered to it in Nigeria. We have seen the corrosive impact on values when leaders elsewhere seek to change the rules to stay on in power.

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”Indeed, we are now preparing for general elections in Nigeria next February. At the 78th UNGA, there will be a new face at this podium speaking for Nigeria.

”Ours is a vast country strengthened by its diversity and its common values of hard work, enduring faith and a sense of community.

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”We have invested heavily to strengthen our framework for free and fair elections. I thank our partners for all the support that they have provided our election institutions.

β€œAs President, I have set the goal that one of the enduring legacies I would like to leave is to entrench a process of free, fair and transparent and credible elections through which Nigerians elect leaders of their choice.”

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He said Nigeria has supported democracy in the sub-region, adding in The Gambia, Nigeria helped guarantee the first democratic transition since independence and stood by the democratically elected Government in Guinea-Bissau when it faced mutiny.

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Buhari said as a result of the death of President Idris Deby Itno of Chad Nigeria joined forces with its other neighbours and international partners to stabilise the country and encourage the peaceful transition to democracy.

He said as he approached the end of his second and final four-year term, he said much has changed in Nigeria, in Africa, and in the world, yet, some challenges remain.

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Buhari said the war in Ukraine was impacting negatively on the world.

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