Nigeria is championing global tax reform, as highlighted by Foreign Affairs Minister Yusuf Tuggar at the G20 Summit in Brazil. He emphasized the need for a fair global taxation system that does not favor developed countries over developing ones. Nigeria’s commitment to addressing hunger and poverty aligns with its broader engagement in G20 dialogues, with notable support from the IMF for Nigeria’s reform initiatives.
Ambassador Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, underscored Nigeria’s role in advocating for global tax reform at the 19th G20 Leaders Summit held in Rio de Janeiro, Brazil. He emphasized that Nigeria initiated a tax resolution, significantly influencing the discourse surrounding tax policies that disproportionately benefit developed nations at the expense of developing countries. “It’s favouring developed countries and hurting developing countries,” Tuggar stated, highlighting the need for a more equitable international tax system.
Furthermore, Nigeria demonstrated its commitment to global issues by endorsing the Global Alliance Against Hunger and Poverty, advancing its involvement in G20 discussions. President Bola Tinubu’s contributions were noted, which resonated with key stakeholders, including the Managing Director of the International Monetary Fund (IMF), who expressed appreciation for Nigeria’s reform efforts and pledged support for future studies.
Tuggar also discussed Nigeria’s aspirations for G20 membership, emphasizing that inclusion often requires consensus and time. He assured that Nigeria’s contributions are increasingly recognized, particularly regarding challenges faced by the Global South, such as poverty and hunger, which are critical issues for sub-Saharan Africa. He asserted, “We’ve got the credentials. And we’re non-threatening to our neighbours.”
Additionally, Nigeria is forging partnerships in agricultural development, particularly with Brazil, to enhance food production through improved farming technologies, addressing the issue of low agricultural yields. On matters of connectivity, Tuggar proposed establishing a bilateral air service agreement to facilitate direct flights, reducing travel time significantly.
The collaboration extends to a memorandum of understanding valued at $5 billion for ethanol production, aiming to strengthen agricultural capabilities and foster economic growth within Nigeria. Tuggar concluded by reiterating the importance of such initiatives in contributing to a sustainable value chain in agriculture and addressing global concerns effectively.
The article discusses Nigeria’s significant influence in advocating for global tax reform at the G20 Summit, reflecting its commitment to addressing economic inequalities faced by developing nations. It highlights Nigeria’s active participation in international discussions, particularly regarding poverty and agricultural development, as well as its strategic partnerships aimed at fostering economic growth. This stance is increasingly relevant as global institutions focus on equitable solutions for pressing issues affecting the Global South, particularly within the context of the G20.
In summary, Ambassador Yusuf Tuggar’s statements at the G20 Summit illuminate Nigeria’s leadership role in advocating for tax reform that favors developing nations. The country is actively engaged in global discussions addressing hunger and poverty, while also prioritizing agricultural partnerships to enhance food security. As Nigeria continues to solidify its position in international forums, its efforts to drive equitable economic policies are essential for fostering sustainable development within the Global South.
Original Source: nannews.ng
