President Muhammadu Buhari has explained how his administration took painful decisions to invest for a prosperous future of all Nigerians.
Speaking on Tuesday in Saudi Arabia at an investment conference organised by the Future Investment Initiative Institute, the Nigerian leader said upon assuming office in 2015, his government understood the importance on inclusive policies for sustainable peace.
“In the past six years, our government took very painful but necessary decisions to invest for a long-term prosperous future knowing very well that this will come with short term pains,” the President was quoted as saying via a statement issued by his media aide, Garba Shehu.
“Nigeria’s population today exceeds 200 million people. Some 70 percent are under 35 years old. When we came into government in 2015, we were quick to realise that long-term peace and stability of our country is dependent on having inclusive and humane policies.”
He said the Federal Government will keep encouraging public and private initiatives that increase investments in health, education, capacity building, youth empowerment, gender equality, poverty eradication, climate change and food security.
This, according to him, will go a long way in reenergizing the global economy in a post COVID-19 era.
Buhari attributed the growing social unrest to inequalities and unfair policies that exclude majority from opportunities for participation, admonishing world leaders and global investors to prioritize on inclusive and humane policies.
Reacting to the theme of the summit, ‘Investing in Humanity’, President Buhari said the Nigerian perspective remains a focus on people oriented development policies, with diversification from oil to more inclusive sectors such as agriculture, ICT and mining; tackling corruption, insecurity and climate change and introducing Social Investment Programmes.
Buhari commended the organizers of this year’s summit for the foresight to look at “investment”, not only from a profitability and wealth accumulation point of view, but also bringing prosperity to humanity in general.
The humane approach to investment, he said, is the only way to address the global challenges we face, especially in the Covid-19 era.
The President noted that investment in humanity must also take into consideration the effects of debt burden on nations, which had been worsened by the Covid-19 pandemic.
He added, “We cannot invest in humanity without relieving our countries from the crushing effects of the debt burden especially when the COVID-19 pandemic has increased the risk of deepening the debt portfolio of poor countries.
“These nations increasingly allocate more and more resources towards external debt servicing and repayment at the expense of the health, education and other services that contribute to the overall wellbeing of their population.”
Describing the summit as a credible forum for interaction between the public and private sectors, to explore ways of advancing economic growth, development and global prosperity, the President said Nigeria’s diversification efforts continue to yield results, particularly in agriculture.
President Buhari told the gathering of world leaders, global investors and asset managers that the oil sector was already undergoing a reform that would make it more attractive and inclusive.
“Two months ago, I signed the Petroleum Industry Act. The Act will serve as a catalyst to liberalize our petroleum sector. It has introduced a number of incentives such as tax holidays, 100 percent ownership, zero interest loans and easy transfer of funds. In addition, we have highly skilled in-country workforce and a large domestic market.
“In mining, we have also made several opportunities available for investors. Nigeria is a country rich in minerals from gold, iron ore, tin, zinc, cobalt, lithium, limestone, phosphate, bitumen and many others. We have made the licensing process easier and also made extensive investments in rail and transportation.
“Infrastructure investments represent significant potential for investors in Nigeria. We have opportunities in seaports, rail, toll roads, real estate, renewable energy and many others. We have created several institutions that are available to co-invest with you in Nigeria.
“We have the Nigeria Sovereign Investment Authority and more recently, I approved the creation of Infrastructure Corporation of Nigeria. These institutions are run as independent world class institutions to make investments in the country and are available to co-invest with you,” he further explained.
The Nigerian leader urged more interest in infrastructure such as healthcare and education, which “present enormous opportunities for investors in a country our size.”
UN Secretary-General visits Buhari At State House
The United Nations Secretary-General Antonio Guterres on Wednesday paid visit to President Muhammadu Buhari at the State House in Abuja.
He was received by top government officials.
Buhari’s conversation with Guterres centred on the need to ensure peaceful and democratic elections as well as the robust participation of women and young people in all areas.
President Buhari also thanked the UN boss for the visit, stressing that it came at a time when the world is focussing on the Russia/Ukraine crisis. Buhari also believes that the visit underscores the assurance that the world is with Nigeria.
On his part, the UN scribe called for developed nations to ramp up vaccine support to countries in the global north, halt the asymmetrical distribution and reform the global financial system.
Earlier in the day, he visited the UN House in Abuja alongside some top officials and diplomats of the agency.
Guterres is on a two-day official visit to Nigeria – the first of such.
The UN chief had arrived in Nigeria on Tuesday and also visited Borno State where he proposed the reintegration of repentant terrorists. This, he said, is key to the restoration of peace in the North East region.
“The best thing we can do for peace is to reintegrate those, that in a moment of despair, became terrorists but want to become now citizens and to contribute to the well-being of their brothers and sisters,” he told a gathering at an Internally Displaced Persons (IDP) camp.
The UN scribe is also expected to perform the wreath-laying ceremony in honour of the August 26, 2011, suicide bomb attack victims.
Ukraine : UN Agencies Condemn Attacks On Health Care Facilities
UN agencies on Sunday called for an immediate ceasefire and an end to attacks on healthcare professionals and facilities in Ukraine, describing such incidents as acts of “unconscionable cruelty”.
Since the start of Russia’s invasion of Ukraine, 31 attacks on health care have been documented via the WHO’s Surveillance System for Attacks on Health Care (SSA), the heads of the United Nations Children’s Fund (UNICEF), the UN Population Fund and the World Health Organization said in a joint statement.
“To attack the most vulnerable -– babies, children, pregnant women and those already suffering from illness and disease, and health workers risking their own lives to save lives –- is an act of unconscionable cruelty,” they said, calling for an immediate ceasefire.
In 24 of the reported attacks, health care facilities were damaged or destroyed, while in five cases ambulances were hit. A total of 12 people were killed and 34 injured, according to the UN agencies’ statement.
“Humanitarian partners and health care workers must be able to safely maintain and strengthen essential health service delivery, including immunisation against Covid-19 and polio, and the supply of life-saving medicines for civilians across Ukraine as well as to refugees crossing into neighbouring countries,” said the statement, signed by UNICEF Executive Director Catherine Russell, UNFPA counterpart Natalia Kanem and WHO head Tedros Adhanom Ghebreyesus.
At least three people were killed, including a young girl, in an attack Wednesday on a children’s hospital in Mariupol in southern Ukraine.
According to the United Nations’ reproductive health agency two other Ukrainian maternity hospitals had already been attacked and destroyed before that strike.
“Attacks on health care and health workers directly impact people’s ability to access essential health services -– especially women, children and other vulnerable groups,” the UN agency chiefs said in their statement on Sunday.
“We have already seen that the health care needs of pregnant women, new mothers, younger children and older people inside Ukraine are rising, while access to services is being severely limited by the violence,” the statement added.
Oxygen and medical supplies, including for the management of pregnancy complications, are running dangerously low, they warned.
“The health care system in Ukraine is clearly under significant strain, and its collapse would be a catastrophe. Every effort must be made to prevent this from happening,” the UN agencies warned.
“We call for an immediate ceasefire, which includes unhindered access so that people in need can access humanitarian assistance. A peaceful resolution to end the war in Ukraine is possible.”
Yoon Suk-yeol wins South Korea’s presidential election
Yoon Suk Yeol, a conservative former top prosecutor, has been elected South Korea’s new president, defeating his chief liberal rival in one of the country’s most closely fought presidential elections.
With more than 98 percent of the ballots counted, Yoon had 48.6 percent of the votes against his rival Lee Jae-myung’s 47.8 percent.
Yoon said on Thursday that he would honour the constitution and the parliament and work with opposition parties when he takes office as the country’s next leader, calling the election result a “victory of the great people”.
“Our competition is over for now,” he said in an acceptance speech, thanking and consoling Lee and other rivals.
“We have to join hands and unite into one for the people and the country.”
At a separate ceremony with supporters, Yoon said he would put top priority on “national unity,” adding all people should be treated equally regardless of their regional, political and socioeconomic differences.
“I would pay attention to people’s livelihoods, provide warm welfare services to the needy, and make utmost efforts so that our country serves as a proud, responsible member of the international community and the free world,” he said.
Yoon is to take office in May and serve a single five-year term as leader of the world’s 10th-largest economy.
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