President Muhammadu Buhari on Friday attended the Global South Summit, calling on the 120 members to agree on a common agenda regarding ways to reduce the increasing burden of debt.
The Global South Summit is hosted by India and it brings 120 developing countries together. The theme for this year’s summit is ‘Unity of Voice and Unity of Purpose’.
The Nigerian leader participated in the virtual summit from the Presidential Villa in Abuja, the nation’s capital, urging leaders of the Global South to work out ways to address inflation in that region of the world.
“This huge debt burden has significantly derailed many countries’ development plans. The effect of the Covid-19 pandemic and the Russia/Ukraine conflict has further aggravated the situation,” the Nigerian leader said, according to a statement by the presidential spokesman, Femi Adesina.
‘‘In this regard, I wish to advise fellow leaders to agree on a common agenda to enable us to put forward our collective demands to the Global North through India as a voice of the South.
“I would urge India to further intensify efforts to facilitate the flow of Foreign Direct Investment to the Global South using its leverage as President of G20.”
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Describing the decision to convene the summit as commendable, Buhari said Global South was driven by historical ties and sense of deep solidarity in pursuit of bridging the gap between the South and the North.
Buhari hailed India’s emergence as a voice of the Global South, considering the role the country played during its two-year term at the United Nations Security Council and the humanitarian gesture it extended during the Covid-19 pandemic.
He added, “Excellencies, it is in line with the vision of One Earth, One Family, One Future that India calls for this Summit, bringing together leaders of the South to share their perspectives and priorities on a common platform ahead of the G20 Summit later this year.
“Nigeria is in full support of this noble initiative and hopes that the outcome of the Summit will be given the top priority at the G20 meetings.”
Leaders of India, Kazakhstan, Ecuador, Ghana, Sri Lanka, Suriname and Peru delivered statements at the Summit.