Nigeria's finance minister wants more debt relief for African countries, others

The Nigerian government, through the finance minister Ahmed, has advocated debt cancellation for vulnerable countries

Ahmed stated this during the United Nations meeting of finance ministers

The minister also urged destination countries of illicit financial flows to help fight the corruption scourge

Nigeria's finance minister, Zainab Ahmed, has urged multilateral lenders to provide more debt relief for vulnerable countries especially countries in Africa.

The Cable reports that the minister said this on Tuesday, September 8, during the United Nations meeting of finance ministers.

Legit.ng gathers the meeting was focused on exploring options for financing the 2030 agenda for sustainable development in the era of the coronavirus pandemic and beyond.

The minister said lenders could consider either outright debt cancellation or at the very least, extended debt suspension.

“It is in this regard that my delegation supports the call for outright cancellation of debt for vulnerable nations, or at the very least extended debt suspension as well as liquidity retrieve and also special drawing rights for countries in special situations, especially countries in Africa,” the minister said.

Speaking on corruption challenges, the Nigerian minister urged destination countries of illicit financial flows to help fight the scourge.

Meanwhile, Legit.ng previously reported that Vice President Yemi Osinbajo said the COVID-19 pandemic has deepened the economic hardship and the poverty situation in Nigeria.

Osinbajo made the statement on Tuesday, September 8, during his presentation at a retreat organised for ministers, permanent secretaries and top government functionaries.

The vice president told his listeners that there was a need to speedily implement the N2.3 trillion stimulus package approved by the federal government.

In other news, President Muhammadu Buhari on Wednesday, September 9, inaugurated the National Steering Committee (NSC) at the Executive Council Chambers of the State House, Abuja.

In a statement by Femi Adesina, the special adviser on media and publicity to President Buhari, the committee is to oversee the development of the Nigeria Agenda 2050 and the Medium-Term National Development Plan 2021-2025.

The Nigerian leader speaking at the inauguration explained that the new programs would succeed the Vision 20:2020 and the Economic Recovery and Growth Plan (ERGP) 2017 – 2020, respectively.