President Muhammadu Buhari attended the Global South Summit on Friday, urging the 120 participants to agree on a common agenda for reducing the growing burden of debt.
India hosted the Global South Summit, which brings together 120 developing countries. ‘Unity of Voice and Unity of Purpose’ is the theme of this year’s summit.
The Nigerian president took part in the virtual summit from the Presidential Villa in Abuja, the country’s capital, urging leaders of the Global South to find ways to combat inflation in that part 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.”
Buhari praised the decision to hold the summit, saying it was motivated by historical ties and a sense of deep solidarity in the pursuit of closing the gap between the South and the North.
Buhari praised India’s emergence as a voice of the Global South, citing the country’s role in the United Nations Security Council during its two-year term and the humanitarian gesture it made during the Covid-19 pandemic.
“Excellencies,” he continued, “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, is in line with India’s vision of One Earth, One Family, One Future.”
“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.”
At the Summit, leaders from India, Kazakhstan, Ecuador, Ghana, Sri Lanka, Suriname, and Peru also made statements.
