WORLD POVERTY DAY 2024: ANEEJ Calls for Increased Investment in Social Protection
…. urges more action to tackle climate, debt crisis
BENIN CITY, NIGERIA. October 21, 2024 – As the world marks World Poverty Day October 17, the Africa Network for Environment and Economic Justice (ANEEJ), a leading organization dedicated to poverty eradication and promoting economic justice in Africa, has called on the Nigerian government, African leaders, and the international community to ramp up investments in social protection, even as it urges quick action on climate and debt crisis .
ANEEJ’s Executive Director, Rev. David Ugolor, expressed grave concerns over the severe implications of the global debt burden on the poor, particularly in Nigeria and other African countries. He noted that over 100 million Nigerians are living below the poverty line and that the economic reforms of the President Ahmed Bola Tinubu’s administration is driving more people into abject poverty and urged governments to prioritize social protection policies and utilize platforms such as the upcoming Financing for Development (FFD) Conference in Spain 2025 and COP29 next month in Baku, Azerbaijan to advocate for urgent reforms of the global financial architecture to provide more resources to tackle poverty in Africa.
On this World Poverty Day, ANEEJ reaffirms its commitment to fighting poverty and inequality across Africa, noting that one of its projects: “ Tackling poverty through livelihood support, advocacy for social protection, Climate Justice and Anti-Corruption” being Supported by Bread for the World, Germany and others is ANEEJ’s modest contribution to addressing the issue and urged governments to embark on meaningful reforms that will address poverty in the short, medium and long term in Nigeria.
Aligning his views with this year’s theme: “Ending Social and Institutional Maltreatment: Acting Together for Just, Peaceful, and Inclusive Societies”, Ugolor underscored the need for collective action to create equitable and sustainable systems that protect the rights and dignity of all individuals.
“The global debt crisis has not only become a fiscal challenge but a full-blown human rights catastrophe,” Ugolor emphasized. “Nations in Africa, including Nigeria, are being forced to prioritize debt repayments over the welfare of their people, while over 3.3 billion people live in countries where more is spent on interest payments than on essential services like education, healthcare, or social protection. It is time to reverse this trend.”
He further highlighted that many African countries, particularly those most vulnerable to climate change, are unable to adequately invest in climate adaptation and poverty alleviation programmes due to the pressures of debt repayments.
“We must seize the opportunity at COP29 in Baku to call for more climate finance and ensure that climate adaptation funds prioritize social protection schemes, which can build resilience against the impacts of climate change while simultaneously tackling poverty,” Ugolor added.
Reforming the Global Financial System and Debt Relief
ANEEJ noted that the current global financial system is skewed in favour of rich developed countries and against the poor and vulnerable nations that are challenged to address the root causes of poverty, it disproportionately benefits wealthy creditors at the expense of low-income nations. Rev. Ugolor reiterated the need for comprehensive debt relief and restructuring to allow countries in the Global South to redirect resources towards poverty-busting public services.
“It is unacceptable that countries like Nigeria are sinking deeper into poverty due to unfair lending conditions and debt restructuring processes that trap them in a cycle of dependency,” Ugolor stated. “Immediate reform of international financial institutions is essential to ensure that countries can meet their human rights obligations and invest in their people. We support the recent recommendations by the UN Special Rapporteur on poverty and human rights, calling for urgent reforms in the global financial architecture to align with the human rights of the poor.”
Action Towards COP29 and Financing for Development
The upcoming Financing for Development (FFD) conference, scheduled to take place from June 30 to July 3, 2025, in Spain, presents a pivotal moment for African nations to advocate for reforms in the global financial system. Rev. David Ugolor emphasized the need for African leaders to push for comprehensive debt cancellation and to direct more investments towards social protection programmes, ensuring a safety net for vulnerable populations. He also stressed that the climate crisis, a core issue at this year’s COP29, set for November 11, must go beyond environmental concerns to encompass discussions on sustainable development and poverty eradication.
In addition, Ugolor highlighted the growing calls for climate reparations, particularly the rising agitation to tax the wealthiest individuals and corporations, especially those responsible for heavy pollution. As the world grapples with the disproportionate impact of climate change on low-income nations. “There is increasing pressure to hold major polluters accountable through taxation and financial penalties. These funds could be channeled towards climate adaptation efforts and social protection schemes, ensuring that the burden of financing climate resilience does not fall on the world’s poorest but rather on those most responsible for environmental degradation.
This approach would align with the principles of climate justice, ensuring that the financial responsibilities for addressing the climate crisis are shared equitably. Ugolor urged African leaders to champion this cause at both the FFD conference and COP29, advocating for solutions that not only tackle the debt burden but also pave the way for a fairer and more sustainable global economy.
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