President Tinubu and Nigeria’s rising global profile.

By Frederick Nwabufor

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Nigeria’s rising global profile is not the conjuring of luck or the divination and contrivance of some dissociated variables. It is the result of purposeful, diligent and experienced leadership. It’s the result of President Bola Ahmed Tinubu’s leadership.

Nigeria has always mattered in the chat rooms and chopping tables of global discourse pertaining Africa. It has always been significant as the biggest democracy in Africa, one of the biggest economies on the continent and the most populous black nation on earth.

But the world is paying more attention to Nigeria with more interests in the nation for good reasons. Effective domestic leadership, reinforced with a deliberate and well-designed foreign policy that reflects critically on global perception.

The past one year has not been without some challenges, but there has been an efficient leadership, driven with clear direction to help the nation navigate through any whirlwind. Reports from credible rating agencies and global financial platforms betoken stability and the return of vibrancy to critical sectors of the economy.

Early this month, the International Air Transport Association (IATA) commended the government of Nigeria for clearing 98 percent of airlines’ trapped funds, which the carriers had previously been unable to access for repatriation. The Director-General of IATA, Mr. Willie Walsh said that as of April 2024, 98 percent of these funds had been cleared. Mr. Walsh disclosed that the remaining 19 million dollars is due to the Central Bank of Nigeria’s ongoing verification of outstanding forward claims filed by the commercial banks.

Earlier in March, the Central Bank of Nigeria (CBN) announced that it had settled valid outstanding foreign exchange obligations. On October 23, 2023, at the 29th Nigerian Economic Summit (NES) in Abuja, the President pledged that his administration would honour legitimate foreign exchange obligations and restore market confidence. It is pertinent to note that he is following this pledge through with convincing results.  This is a reflection of a focused leadership at home that influences the global perception of Nigeria on good governance.

President Tinubu has brought a fine hue of dignity to the brand Nigeria by his audacious declarations on seminal matters concerning Nigeria, Africa, and the world. About two months ago at the World Economic Forum Special Meeting in Riyadh, Saudi Arabia, President Tinubu stirred interest and applause with his profound statement on the importance of collaboration and inclusiveness towards achieving global food security, addressing collective challenges, and driving innovation across a chain of interests for a more stable and prosperous world.

This initiative by President Tinubu have started yielding results with the Saudi Arabian government’s recent follow-up visit to Nigeria to promote partnership that would accelerate global food security and create market for Nigeria’s agricultural produce in Saudi Arabia.

The Nigeria’s president pointed out that the capital formation that is necessary to drive the economy, agriculture, ensure food security, innovation, and technological advancement must be an inclusive programme of the entire world and no one should be left behind.

He said that the recognition of the need for cooperation and with the type of population growth that Africa is experiencing has challenged leaders to bring the diversity of its resources and economic opportunity together to meet the 2063 development vision of the African Union on the continent.

President Tinubu in a Meeting with a delegation from the International Finance Corporation (IFC) of the World Bank Group, led by its Managing Director, Mr. Makhtar Diop spoke not only as Nigeria’s leader but also as an African patriot. He beseeched international development financiers to see Africa as a destination for growth and prosperity, and not as an axis of eternal misery and chaos.

President Bola Tinubu has put Nigeria on a strong global pedestal. It’s expected that Nigerians, Africa and the world would continue to support the leadership to sustain the rising profile of the biggest black nation on earth towards guaranteeing the required accelerated development for nation and Africa.

 

Frederick Nwabufor is the Senior Special Assistant on Public Engagement to Nigeria’s President, Bola Ahmed Tinubu.

 

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