Nigeria Aims to Establish African Central Bank By 2028 – President Tinubu Tells African Union

President Bola Tinubu’s address at the 37th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU) in Addis Ababa, Ethiopia, reflects Nigeria’s commitment to African unity and development.

Tinubu’s announcement of Nigeria’s readiness to host the African Central Bank demonstrates the country’s determination to play a leading role in shaping the continent’s economic future. By aligning with the vision of the Abuja Treaty and collaborating with member states and the African Union Commission, Nigeria aims to ensure the successful establishment of the bank by 2028.

Highlighting the challenges facing Africa, Tinubu emphasizes the importance of solidarity and cooperation among African nations in addressing these obstacles. He acknowledges external challenges such as climate change and unfair global trade patterns, while also calling attention to internal issues like coup-driven autocracies and constitutional manipulations, which hinder Africa’s progress.

Regarding recent military takeovers in some African countries and their implications for regional cooperation, Tinubu advocates for dialogue and reconciliation. He stresses the significance of maintaining regional unity and cooperation, despite disagreements over governance issues, emphasizing the shared history, culture, and economic ties that bind African nations together.

On the theme of education at the summit, Tinubu underscores the importance of education in fostering innovative solutions to Africa’s longstanding challenges. He emphasizes the need for education not only to enhance scientific and technological capabilities but also to promote democratic values, diplomacy, and conflict resolution without violence.

Tinubu highlights Nigeria’s efforts to enhance education at all levels, including initiatives to improve school feeding programs, update academic curricula, and promote Information and Communication Technology (ICT) education. These efforts align with the continent’s aspirations for peace, unity, and prosperity outlined in Agenda 2063.

Finally, Tinubu extends an invitation to the Africa Counter-Terrorism Summit in April 2024, emphasizing the importance of addressing the root causes of violent extremism. By convening discussions beyond military and law enforcement strategies, the summit aims to tackle underlying factors such as poverty, political marginalization, and extremist ideologies.

Overall, Tinubu’s address underscores Nigeria’s commitment to African solidarity, economic development, and peacebuilding efforts on the continent.

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