Kano Times

November 21, 2025

Nigeria Seeks Debt Forgiveness, Financial System Changes at UNGA

President Bola Tinubu has called for inclusivity, multilateralism, and permanent seats for Nigeria and Africa on the United Nations Security Council, emphasizing the continent’s long-standing demand for equal representation on the council.

The United Nations General Assembly (UNGA) elects five new members each year from different geographical zones for two-year terms on the council. Africa currently holds three rotational seats on the 15-member body.

Speaking at the 79th session of UNGA on Tuesday, Vice-President Kashim Shettima, representing Tinubu, highlighted the need for reform in the council.

“Some permanent members of the United Nations Security Council have offered encouraging, if tentative indications of support on the issue of reform of the council. We welcome the change in tone and urge an acceleration in momentum to the process,” he said.

“The Security Council should be expanded, in the permanent and non-permanent member categories, to reflect the diversity and plurality of the world. We fully support the efforts of Secretary-General Guterres in this regard.

“Africa must be accorded the respect that it deserves in the Security Council. Our continent deserves a place in the permanent members category of the Security Council, with the same rights and responsibilities as other permanent members.”

President Tinubu also called for debt forgiveness for Nigeria and reform of the global financial system.

“We reiterate the call by countries, especially of the Global South, for reform of the international financial architecture and promotion of a rules-based, non-discriminatory, open, fair, inclusive, equitable, and transparent multilateral trading system,” he said.

“Similarly, we must ensure that any reform of the international financial system includes comprehensive debt relief measures, to enable sustainable financing for development.

“Countries of the Global South cannot make meaningful economic progress without special concessions and a review of their current debt burden.”

11Tinubu further addressed the challenges of climate change, the proliferation of weapons, coups in Africa, and human rights abuses.

“From last year’s summit, and indeed from previous years, we have carried over the numerous challenges of terrorism, armed conflict, inequality, poverty, racial discrimination, human rights abuses, food crises, hunger, irregular migration, piracy, global pandemics, hyper-inflation, nuclear proliferation, grinding debt burden, climate change, and a host of other vexations,” he added.

“The continued manifestation of these challenges testifies to our failings rather than to any lofty achievements on our part. Billions of dollars are being committed to the prosecution of wars and the fanning of the embers of conflict.

“Our people need employment. They need decent livelihoods. They desire good and affordable education and healthcare for their children and families. They need to live in healthy, safe, and secure environments. They need hope and they need opportunity.”

The president also stressed the importance of recovering the proceeds of corruption and tackling illicit financial flows, arguing that returning such funds to their countries of origin “is a fundamental principle of the United Nations Convention against Corruption”.

“Therefore, the international community must promote practical measures to strengthen international cooperation to recover and return stolen assets and to eradicate safe havens that facilitate illicit flows of funds from developing countries to the developed economies,” he added.

On the sidelines of UNGA, Vice-President Shettima met with the President of Finland, Alexander Stubb, to seek Finland’s support for Nigeria’s bid for a permanent seat on the UN Security Council.

“Nigeria has 25 years of uninterrupted democracy. And in Bola Tinubu a president with huge democratic credentials and commitment. With him in the saddle, Africa and the larger world would be safe, futuristic, acceptable, and more peaceful,” Shettima said.

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