The Minister of Foreign Affairs, Yusuf Tuggar, has called for collective support from the international community to help Africa tackle regional challenges on financing
By Fortune Abang
The Minister of Foreign Affairs, Yusuf Tuggar, has called for collective support from the international community to help Africa tackle regional challenges on financing implementation of the Sustainable Development Goals (SDGs).
Tuggar made the call in his address at the UN General Assembly Summit of the future that started from Sept. 22 to 23, 2024 in New York.
He commended most of the global South for significant support toward implementation of the SDGs 2030-Agenda, saying it is imperative to adopt measures to tackle challenges impeding development.
Tuggar said, “This is especially important in Africa, where economies are most vulnerable due to historical imbalances in the international multilateral system.
“The SDG Index estimates that only about 16 per cent of SDG targets are on track to be achieved. We must, therefore, ensure today’s adoption of Pact for the Future is backed by willingness to fulfil outstanding commitments.
“With the remaining 84 per cent of the SDG targets for 2030 yet to be achieved, countries in the global North must do more to support sustainable development in the global South.
“We are optimistic these targets can be met, if commitments are backed by action. However, in the event we fall short of achieving the SDG targets by 2030, the deadline should be extended.
“The collective resolve and support of international community could help Africa tackle regional challenges, particularly with regard to sustainable financing for the SDG implementation.”
He underscored the need for action-oriented measures to engender reform of the UN Security Council aimed at ensuring a permanent seat for Africa.
Also for reform of the international financial architecture to promote an inclusive, non-discriminatory and transparent international trading system, as well as to implement comprehensive debt relief measures.
“For fulfilment of all commitments under the Addis Ababa Action Agenda, particularly to facilitate sustainable financing for development; Support for local indigenous production and export from Africa.
“To strengthen measures toward ensuring timely repatriation of illicit financial flows and assets.
“To ensure adoption of UN Framework Convention on International Tax Cooperation to ensure African economies are no longer shortchanged through tax evasion and exclusion in global tax decision making.
“To support the actualisation and implementation of the UN Secretary-General’s SDG stimulus proposal, which includes provision of US$500 billion per year for SDGs”.
Others include the need for commitment to fossil fuel energy transition, while giving due consideration to the principle of Common But Differentiated Responsibilities (CBDR) and Articles 4 and 9 of the Paris Climate Agreement (2015).
This, according to him, require the global North to provide the global South with the requisite support to achieve the net-zero ambition.
“There should be access to the climate loss and damage funds for the global South.
“To bridge the digital divide between the global North and South through technology sharing and capacity building, in areas such as Artificial Intelligence (AI) to ensure no one is left behind,” he added.
He restated that it is imperative the international community develop measures to enhance common understanding on Cryptocurrency, given its significant impact on global economy, links to transnational crime and money laundering. (NAN)
