President Bola Tinubu has called for a review of global taxation, emphasizing the need to address the imbalance in the international tax regime. Speaking at the Third South Summit of the Group of 77 and China in Uganda, President Tinubu stressed that the issue of global taxation is critical for developing countries, citing the disadvantage they face, particularly in taxing digital economies.

Represented by Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, President Tinubu expressed Nigeria’s commitment to multilateralism as a means of addressing global challenges. He highlighted Nigeria’s role in championing a historic initiative at the United Nations for a Framework Convention on Tax, aiming to establish a more equitable global tax system.

The President also spoke on Nigeria’s commitment to South-South economic collaboration, emphasizing the importance of reviving the Action Committee on Raw Materials (ACRM) for coordinated information dissemination. He called for a focus on data-driven strategies within the ACRM to improve trade terms, foster economic self-reliance, and enhance resilience among developing countries.

President Tinubu reaffirmed Nigeria’s stance on Israel’s attack on Palestine, calling for an immediate ceasefire and a peaceful resolution to the conflict. He advocated for a two-state solution, emphasizing Nigeria’s commitment to the principles of sovereignty, territorial integrity, and the promotion of peace and security.

Reflecting on the 75th anniversary of the United Nations, President Tinubu highlighted the enduring commitment of the Group of 77 to fostering a world where no one is left behind. He called for concerted action to address global challenges, including climate change, eco-disparities, and technological programs in the post-pandemic era.

Acknowledging interconnected threats such as the digital divide, cybersecurity, illicit financial flows, terrorism, and corruption, President Tinubu stressed the need for a united approach by the G-77 and China. He underscored the urgency to combat challenges like illicit financial flows, advocating for enhanced international cooperation, stronger regulatory frameworks, and a collaborative approach.

President Tinubu emphasized Nigeria’s focus on rebuilding economies, fortifying healthcare systems, and securing sustainable livelihoods for citizens. He also highlighted the importance of technical cooperation, capacity building, and South-South collaboration in addressing global challenges. The President concluded by expressing Nigeria’s commitment to multilateralism and the objectives of the Bandung principles, envisioning a responsive movement for the future.

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