President Muhammadu Buhari has said the developing countries can’t invest in humanity without relieving themselves from the crushing effects of the debt burden.
The Nigerian leader said this while speaking at the 5th edition of the Future Investment Summit held in Riyard, Saudi Arabia on Tuesday, October 26.
He said “We cannot invest in humanity without relieving our countries from the crushing effects of the debt burden especially when the COVID-19 pandemic has increased the risk of deepening the debt portfolio of poor countries. These nations increasingly allocate more and more resources towards external debt servicing and repayment at the expense of the health, education and other services that contribute to the overall well-being of their population. Nigeria’s population today exceeds 200 million people. Some 70 per cent are under 35 years old. When we came into government in 2015, we were quick to realise that the long-term peace and stability of our country is dependent on having inclusive and humane policies.”