PRESIDENT BOLA TINUBU IN HIS SPEECH AT THE 19TH KAMPALA NON-ALIGNED SUMMIT, EMPHASISED THE SIGNIFICANCE OF EQUITABLE CAPITAL ACCESS FOR DEVELOPMENT. TINUBU NOTED THAT THE 130 MEMBER COUNTRIES, REPRESENTING OVER 55% OF THE GLOBAL POPULATION, HAVE A COMBINED BUDGETARY RESOURCE OF LESS THAN $3.5 TRILLION, ADDING THAT THEIR AGGREGATE PUBLIC DEBT, TOTALLING LESS THAN $6.6 TRILLION, IS APPROXIMATELY ONE-SIXTH OF THAT OF A FEW DEVELOPED COUNTRIES. THESE FIGURES HIGHLIGHT THE GLARING CHALLENGE OF INSUFFICIENT CAPITAL. THIS IS ACCORDING TO THE PRESS RELEASE ISSUED BY MRS FOLASADE BORIOWO, DIRECTOR OF INFORMATION, MINISTRY OF BUDGET & ECONOMIC PLANNING, ON SUNDAY. THESE STARTLING STATISTICS, ACCORDING TO PRESIDENT TINUBU, ARE CLEAR EVIDENCE THAT THE NON-ALIGNED COUNTRIES SUFFER FROM A LACK OF ACCESS TO CAPITAL AND RESOURCES FOR DEVELOPMENT. TINUBU URGED NAM TO TAKE PRACTICAL ACTIONS, EMPHASIZING SHARED PROSPERITY AS THE KEY TO PEACE AND JUSTICE, ADDING THAT THE PURSUIT OF SHARED PROSPERITY MUST BE CENTRAL TO MULTILATERALISM.
Leave A Comment