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President Olusegun Obasanjo repeated his call for the cancellation of Nigeria’s debt when he received British minister Clare Short on Monday, AFP reported, citing an official statement by the Nigerian presidency.
He told Short, who is responsible for overseas development, that as one the poorest countries in the world, Nigeria needed debt relief for the Paris Club of creditors for it to develop.
France, a key member of the Paris Club, has already started consultations with Abuja over the cancellation of its debt to the body, ‘The Guardian’ newspaper of Lagos reported on Tuesday. Some 70 percent of Nigeria’s external debt, which is estimated at US $28.6 billion, is owed to the club.
Obasanjo briefed Short on his government’s efforts to crush corruption, reduce inflation, stabilise the naira and rehabilitate decaying social and economic infrastructure. Short said Britain’s support for Obasanjo’s administration was aimed at improving the quality of life of Nigerians. British cooperation included police reform, she said, the eradication of malaria and the battle against the spread of HIV and AIDS.
Short arrived in Nigeria on Sunday to evaluate poverty alleviation and health programmes, AFP said, quoting the British High Commission.
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