Nigeria President, Muhammadu Buhari, has stated that the past debts incurred by African countries prior to the 2005 debt cancellation for thirty-two (32) countries, were not properly channeled into appropriate economic goods and services needed for the continent’s growth. ayokinews.com reports
President Buhari made this known during the public presentation of a book written about Ambassador Bamanga Tukur, titled “Legacies of a Legend”.
President Buhari was represented at the event by his Chief of Staff, Prof. Ibrahim Gambari, who also chaired the occasion.
He stated that the debts, if properly utilized, was an important instrument in the development and economic blueprint of the African continent.
“During the latter part of my engagement there (UN), I recalled Bamanga Tukur’s activities with Tony Blair led Commission for Africa in 2004/2005 and how that led to the 2005 G8 Summit landmark decision on debt cancellation for 32 African countries.
“Prior to that, many poor African countries were using large portion of their little resources to service debt obligations,” he said.