FG: Current economic, political environment unfavourable
President Muhammadu Buhari says the current global economic and political environment is far from being favourable, particularly to developing countries.
Buhari stated this yesterday in New Delhi, India, while addressing the plenary session of the 3rd summit of the India-Africa Forum attended by Indian Prime Minister Narendra Modi and African Heads of State and Government.
The president said: “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.”
President Buhari said India and Africa must recognise that they lived inter-connected lives in a fragile planet and 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 inter-connected lives in a fragile planet. We must therefore work together to uplift the lives of our people in a manner that preserves the 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,” he said.
According to him, although African nations have a number of partnership arrangements with other countries of the world, the India-Africa Forum promises to be different “as it is not only a partnership between friends, but between countries and peoples who have had similar historical experiences of colonial rule.”
He said the immense potential of the forum was already evident in the growing volume and improved terms of trade between Africa and India as well as the increasing presence of several Indian enterprises in Africa.
Buhari also stated that Nigeria and other African countries must work harder to achieve greater political stability and security before they could enjoy the full benefits of partnership arrangements such as the India-Africa Forum.
The president expressed optimism that the IndiaAfrica Forum would deepen, in practical terms, the SouthSouth cooperation that countries of the South had desired for so long.