President Olusegun Obasanjo’s position that dubious foreign debts owed by Nigeria and other African or Third World countries should be cancelled has been commended by the African Network for Environmental and Economic Justice (ANEEJ).

ANEEJ, which is also the co-ordinating body of Jubilee South (a segment of Africa Jubilee South), threw its weight behind the president’s stand while hosting an Africa Jubilee South meeting in Lagos.

The meeting also deliberated on stashed away fund recovered so far, including the controversial Abacha loot still in European banks.

A statement, by ANEEJ President, Rev. David Ugolor, said attempts by countries of the North (developed countries of the West) to keep Southern countries in perpetual slavery through the debt tool should be resisted.

ANEEJ also emphasized the need for global, collaborative efforts to deal with the debt issue and expressed doubts about the sincerity and effectiveness of the New Partnership for Africa’s Development (NEPAD) saying it was an imposition and an initiative of an insignificant number of African countries rather than a broad-based, truly African development alternative.

“The meeting recognised the clear stand taken by Obasanjo in calling for debt to be cancelled. Africa Jubilee South argues that the debt of countries of the South is illegitimate and agrees with the call for its cancellation.

“However, the countries of the North and their institutions, the World Bank and International Monetary Fund (IMF), use debt as a weapon of control over countries of the South and as a means to impose their structural adjustment programmes on us. So, rather than wait for them or relinquish their control, we urge the President of Nigeria to take the next step, namely, to join forces with other leaders of the South to collectively repudiate, that is, stop paying the (odious) debt” the statement said.

This Day (Lagos), May 22, 2003