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BREAKING: Buhari Lobbies For Debts Cancelation, Blames COVID-19 For Massive Economic Crisis

SAHARANEWS – President Muhammadu Buhari has urged ‘developed countries’ to cancel debts owed by ‘poor countries’, amid the COVID-19 pandemic.

Buhari stated this while speaking at a UN-backed high-level meeting that was held virtually.

“There is an urgent need for weak and needy countries especially those of Africa, to receive a fresh reprieve.

“Debts must be forgiven and cancelled. Free additional resources are needed urgently through an international consensus to enable poor countries work to reverse the devastation of COVID-19 to the human race,” Buhari said.

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The President also spoke about how COVID-19 has impacted Nigeria’s economy.

According to Buhari, “the sharp decline in international oil prices which has negatively impacted revenues and growth, worsened external and domestic positions”.

This has led to “enormous human and economic toll on the country”.

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