President Tinubu Calls for Fair Opportunity, Not Sympathy, in Global Capital Access
President Bola Tinubu has advocated for fair and equitable access to capital for developing countries, emphasizing that such access is crucial for addressing pressing global challenges. Speaking at the 19th Summit of Heads of State and Government of the Non-Aligned Movement in Kampala, Uganda, President Tinubu stressed that the developing world seeks fair and equal opportunities rather than sympathy or handouts.
The summit, chaired by Ugandan President Yoweri Kaguta Museveni, brought together numerous heads of state and government. The Non-Aligned Movement, the world’s second-largest gathering of countries after the United Nations General Assembly, comprises 120 member countries with a combined population of over 4.4 billion, representing about 55% of the world’s population.
President Tinubu highlighted the disparity in financial resources between developed and developing countries, noting that the total budgetary resources of the 120 member countries amount to less than $3.5 trillion, which is less than the budget of the United States alone. He emphasized that this disparity demonstrates the challenges faced by Non-Aligned countries in accessing capital and resources for development.
The Nigerian leader also addressed other global challenges, including climate change, conflict, terrorism, and inequality, underscoring the need for greater collaboration among member states to achieve sustainable development goals. President Tinubu called for renewed commitment to the foundational principles of the Non-Aligned Movement to promote global peace and security.
On climate change, President Tinubu emphasized the importance of affordable climate finance and technologies for developing countries. He urged the Non-Aligned Movement to work with the United Nations to press developed countries to fulfill their promise of $100 billion in annual climate finance to developing countries, with a total commitment of $1 trillion.
President Tinubu also expressed Nigeria’s support for the Non-Aligned Movement’s condemnation of the ongoing violence in the State of Palestine, calling for an immediate ceasefire and humanitarian truce in the region. He emphasized the need to uphold international humanitarian
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