President Bola Tinubu has called for comprehensive reforms in the global financial system and a more transparent multilateral trading framework at the ongoing United Nations General Assembly (UNGA) in New York.
Speaking on behalf of the president, Vice President Kashim Shettima said the need for a fairer economic order, expressing optimism that the adoption of the ‘Pact for the Future’ would reshape global narratives, strengthen economies, and lead to tangible solutions for the challenges faced by developing and least-developed countries.
“It is for this and other reasons that 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 noted.
Highlighting the risks of straying from multilateralism, the VP urged the UN to address critical global challenges such as the mounting debt burden that weakens governments’ capacity to meet citizens’ needs, the trade barriers and protectionist policies that diminish opportunities for nations, and the unchecked competition that stifles motivation and hinders global investments.
