President Bola Ahmed Tinubu has underscored the need for African nations to unite and present themselves as attractive investment and cooperation partners on the global stage. Speaking during a bilateral discussion with South African President Cyril Ramaphosa, President Tinubu emphasised the immense potential of Nigeria and South Africa, particularly through leveraging their abundant human and natural resources.
Both leaders engaged in an economic dialogue to explore avenues for collaboration and mutual benefit. President Tinubu highlighted the importance of directing funds from International Development Finance Institutions to meet the specific needs of developing democracies in Africa. He also stressed the significance of creating partnerships that enrich African populations and harness the expertise of Nigeria and South Africa.
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“We have all the human and natural resources required between our nations. We can collaborate in a mutually beneficial way that enriches our populations. South African Mining industries have a role to play in the Nigerian solid minerals development sector. Your business community has done well in Nigerian Telecommunications. We have great mineral wealth across our land, and you have good expertise in this area. We expect to deliver jobs and mutually beneficial results in this area as brother and sister countries.
“During the end of the Second World War, the Marshall Plan was established for the reconstruction and economic restoration of European nations through Bretton Woods institutions. Where has this presence been for Africa? We have to be careful not to replace the broken shackle of yesterday with a new set of shackles. You can not have a stable democracy in the presence of a poverty of knowledge and a starvation of people. Democracy without food on the table is a breeding ground for what will consume us if care is not taken. We must join hands and agree that International Finance Institutions require reform as Africa is not to be a ground for economic scavenging any longer, but it is a place with gifted people that is ready for investment and cooperation.
“We have all the human and natural resources required between our nations. We can collaborate in a mutually beneficial way that enriches our populations. South African Mining industries have a role to play in the Nigerian solid minerals development sector. Your business community has done well in Nigerian Telecommunications. We have great mineral wealth across our land, and you have good expertise in this area. We expect to deliver jobs and mutually beneficial results in this area as brother and sister countries,” President Tinubu affirmed.
South African President Cyril Ramaphosa concurred, emphasising the deepening of economic ties between the two major African economies. He acknowledged the impact of their joint positions on global matters and the potential for both countries to move the global South forward.
“We are two major economies on our continent, and it is important that we deepen economic ties, particularly in light of the African Continental Free Trade Agreement. We are very keen on the deepening of our economic relations,” the South African President said.
He added, “We would love to see Nigeria and South Africa working closely together on several issues because whenever we join hands, we have made an impact globally through those joint positions. Together, we can move the global south forward. We are a continent that has been plundered. And wealthy nations made so much of it from us, and we must seek out partners who will help us to advance our interests.”
President Ramaphosa extended an invitation to President Tinubu to visit South Africa, further symbolising the commitment to strengthening economic relations.
Nigeria and South Africa aim to maximise their enormous human and natural resources for the benefit of over one billion Africans, asserting their potential as a driving force in global affairs and economic growth.