President Muhammadu Buhari has said that because of the negative economic, social and environmental issues happening across the globe, tough times await Nigeria.
He said the way out for Nigeria is to ensure better political stability and security so that they can enjoy optimum benefits of global multinational and intercontinental partnerships.
The President also that to attract the massive investment inflows which they need to overcome the challenges of unemployment and wealth creation, African countries must establish policy environments which guarantee the sanctity of contracts on the basis of the rule of law.
President Muhammadu Buhari made the statement in New Delhi, India when he addressed the plenary session of the 3rd Summit of the India-Africa Forum, which had in attendance Indian Prime Minister, Narendra Modi and several African Heads of State and governments.
President Muhammadu Buhari told the gathering that since its inception in May this year, his administration has been working with determination to establish these preconditions for rapid socioeconomic development and refocus 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 ally, will always stand shoulder to shoulder with us in the discharge of the mandate entrusted to us by our people,” Buhari said.
He expressed the hope that the India-Africa Forum would deepen, in practical terms, the South-South Cooperation that countries of the Southern hemisphere had desired for a long time.
According to the President: “The current international economic and political environment is far from being favorable, 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 levels 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 inter-connected lives in a fragile planet.
“We must therefore work together to lift 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.
“There is therefore the need for India and Africa to strive together to build a virile framework for partnership and cooperation in order to address common challenges in key areas including health, education, inter-connectivity, power and employment generation as well as the strengthening of institutions of governance and democracy”.
Buhari pointed out that although African countries 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”.
