The third Financing for Development Conference is Nigeria’s chance as a nation and continent to turn the ambitious development goals and climate agreements currently being discussed at the United Nations into reality. The bold aim of the FfD Conference is an inter-governmentally negotiated and agreed outcome, which should constitute an important contribution to and support the implementation of the post-2015 development agenda.
This is a uniquely important opportunity for Africa to negotiate how best its “future can be financed’’. Faced with a huge financial crisis, now is the time for Nigeria to lead other African countries in discussing and negotiating a financing plan and agreement that can help the continent in delivering the Africa “Africans want to see.”
Official development assistance and foreign direct investments cannot be relied upon as the main sources of funding for the ambitious goals and targets contained in the soon-to-be finalized post-2015 global development agenda. Mobilizing domestic resources, clamping down on corruption and illicit financial flows and addressing issues surrounding good governance are some of the alternatives that must be explored.
Nigeria needs to lead the continent in important discussions and negotiations that need to happen around finding alternatives that are critical to the growth of our continent and opportunities from which we can raise internal resources such as through intra-Africa trade, sovereign wealth funds, pension funds, foreign reserves and remittances, natural resources including our extractive industries amongst others.
Nigeria is sufficiently qualified to lead these discussions since as a country since we have experience in all of these areas. Using this experience, President Buhari and other African leaders have a role to play in using the FfD Conference to negotiate viable continental finance alternatives and instruments that will help fund our development agenda from 2016 to 2030.
Take action now: ask your leader to attend Financing for Development
action/2015Nigeria is calling on these leaders to be a #hero for people and planet by committing to attend Financing for Development.
By attending they will show they are serious about fighting poverty, inequality and climate change and financing our future!
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