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Buhari seeks debt cancellation from China, US others

President Muhammadu Buhari has called on world leaders to consider debt forgiveness given the present economic realities facing Nigeria.

Buhari, speaking at the 77th session of the United Nations General Assembly on Wednesday, stressed that developing countries were facing numerous challenges, including being able to service external debts.

He asked the world leaders to address what he described as the burden of unsustainable external debts.

“Nigeria, therefore, implores our global partners to do more to complement our endeavours. Indeed the multi-faceted challenges facing most developing countries have placed the ability to address their fiscal place,” he said.

“This equally calls for the need to address the burden of unsustainable external debts by a global commitment to the expansion and extension of the debt service suspension initiative to countries facing fiscal and liquidity challenges as well as outright cancellation for countries facing the most severe challenges.”

Buhari told the world leaders that he would be addressing the diplomatic community as President for the last time, underpinning that Nigeria will have a new president representing her by this time next year.

He vowed to entrench a process of free, fair, transparent and credible elections through which Nigerians elect leaders of their choice.

The President also reiterated his commitment to constitutional term limits and Nigeria’s effort to promote rule of law and democracy in West Africa, citing the country’s support to The Gambia, Guinea Bissau and Chad during their political impasse.

“Indeed, we now are preparing for general elections in Nigeria next February. At the 78th UNGA, there will be a new face at this podium speaking for Nigeria.

“Ours is a vast country strengthened by its diversity and its common values of hard work, enduring faith, and a sense of community. We have invested heavily to strengthen our framework for free and fair elections. I thank our partners for all the support that they have provided for our elections.

“As President, I have set the goal that one of the enduring legacies I will like to leave is to entrench a process of free, fair and transparent credible elections through which Nigerians elect their choice,” Buhari said.

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