Vice President of Nigeria Advocates More Support To Mitigate Africa's Economic Challenges

The Vice President of the Federal Republic of Nigeria His Excellency Prof Yemi Osinbajo has urged the international community to take more steps through its multinational institutions such as the International Monetary Fund ( IMF ) to help reduce economic challenges imposed on African countries by the Covid-19 pandemic.

The Vice President made the appeal today in a speech on behalf of the President of the Federal Republic of Nigeria, His Excellency President Muhammadu Buhari at the official opening of the 51st Conference of the Commonwealth Parliamentary Association (CPA) Africa Region in Abuja, Nigeria .

His Excellency Prof Yemi Osinbajo said though the IMF has injected US$ 650 billion into the global economy following the economic devastation caused by the Covid-19 pandemic worldwide, just a little over US $30 billion of the amount came to Africa and described Africa's share of the total amount as woefully inadequate in view of the magnitude of the economic challenge brought upon the continent by the Covid-19 Pandemic.

Vice President Prof Yemi Osinbajo therefore appealed to the international community to come out with a wholistic solution to deal with Africa's debt servicing problem .

He also called for more support by the international community to increase the pace and scale of vaccination against Covid-19 in Africa.

Touching on Climate change, His Excellency Prof Yemi Osinbajo said whilst African countries contribute the least to global greenhouse emission, the continent suffers most from the impact of climate change.

He charged African Parliamentarians and governments to come out with measures to improve the socio-economic conditions of the people.

The Vice President of the Federal Republic of Nigeria also emphasised the need for African countries to take advantage of the African Continental Free Trade Agreement to make their agricultural, industrial and service sectors robust and more competitive in order to create jobs for the people.

Hon Dr Zainab Gimba Chairperson of the Commonwealth Women Parliamentarians (Africa Region) expressed concern about gender inequalities against women in terms of laws affecting men and women as well as access to employment opportunities in the formal sector, though women constitute about 56% of the global population.

According to Hon Dr Zainab Gimba, available statistics show that women in the informal sector such as agriculture exceed that of men by 4.6%.

The Secretary General of the Commonwealth Parliamentary Association, Hon Stephen Twigg said the impact of Covid-19 on the world has underscored the importance of the UN Sustainable Development Goals.

He reminded the Parliamentarians of the UN Sustainable Development Goal Four which enjoins countries to ensure universal prime quality education for all . Hon Stephen Twigg commended Kenya for its leadership on education and also praised Nigeria for its leadership in promoting safe schools in the country.

Later in the evening, the Vice President of the Federal Republic of Nigeria Prof Yemi Osinbajo hosted the delegates, observers, spouses, Delegation Secretaries and other participants for a dinner at the State House, Aso Rock Presidential Villa.