President Muhammadu Buhari has stated that Nigeria and other African countries must work harder to achieve greater political stability and security before they can enjoy the full benefits of partnership arrangements with other countries.
The president said this while addressing the plenary session of the 3rd India-Africa Forum Summit on Thursday, October 29, in New Delhi, India.
According to a statement issued by Garba Shehu, the president’s senior special assistant on media and publicity, Buhari said that Nigeria and other African countries need to attract the massive investment in-flows in order to overcome the challenges of unemployment and wealth creation. They also must establish policy environments that guarantee the sanctity of contracts on the basis of the rule of law.
Buhari stressed that since his inauguration in May 2015, his administration was working hard to establish preconditions for rapid socio-economic development and refocus governance on the real needs of ordinary Nigerians.
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“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 partner, will always stand shoulder to shoulder with us in the discharge of the mandate entrusted to us by our people,” the president said.
Speaking further, the president noted that the current international economic and political environment was far from being favourable, especially 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,” he said.
Speaking about the challenge of climate change, Buhari noted that 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 interconnected 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 Buhari, the India-Africa Forum is very important “as it is not only a partnership between friends, but between countries and peoples who have had similar historical experiences of colonial rule”.
Yesterday, October 28, President Buhari took part in an interactive session with chief executives of Indian companies with interests in Nigeria.
The president warned Indian businessmen that some of his policies would one way or the other affect their business interests in Nigeria.