A little over two decades ago I addressed this Assembly as head of a military Government in Nigeria. On that occasion the focus of my statement was the urgent need to terminate colonial rule in Namibia and Rhodesia, now Zimbabwe, and dismantle the racist apartheid South Africa. Today it is a great source of joy for me and my delegation that a distinguished son of Namibia is presiding over the affairs of the fifty-fourth session of the United Nations General Assembly. My delegation assures you, Sir, of its full cooperation and unwavering support throughout your tenure. May I also convey through you, Sir, our deep appreciation to your predecessor, Mr. Didier Opertti of Uruguay, for the able and efficient manner in which he conducted the proceedings of the fifty-third session. Our appreciation also goes to the Secretary-General, Mr. Kofi Annan, for his visionary leadership and the invaluable work of the Secretariat under his stewardship. Permit me also to warmly welcome, on behalf of my country and delegation, the Republic of Kiribati, the Republic of Nauru and the Kingdom of Tonga, which have just joined this family of nations. I stand before this Assembly today very proud to be the leader of a Nigeria that has successfully managed the transition to democracy after a decade and a half of military rule. I would like to seize this opportunity to express the profound appreciation of all Nigerians for the international support and encouragement which combined so effectively with the relentless determination of Nigerians themselves to reconstruct and transform their country into a vibrant democracy. Our Administration has raised the hopes of Nigerians, and their expectations are correspondingly high. We are well aware of the enormity of the challenges that we face. But we are fully resolved to tackle our numerous social, economic and political problems head on. And, by the Grace of God, we will not fail. Since assuming office some four months ago our administration has put in place an institutional framework for the purpose of reconciling competing interests and groups in our society. Our democratic institutions are now operating effectively within the system of checks and balances enshrined in our Constitution. Furthermore, we have opted for a policy of inclusiveness in all our political appointments, with a Cabinet, for instance, in which all registered political parties are represented, thus moving away from the divisive practice of winner takes all. Our Administration has initiated policies aimed at revitalizing the economy in order to create an enabling environment for investment and economic growth. We have also put in place an appropriate legal framework for 8 the protection of foreign investments and repatriation of legitimate profits. Other measures that we have taken include a vigorous anti-corruption campaign; the promotion of transparency and accountability in public life; the abolition of decrees and regulations which hindered the inflow of foreign investment; the generation of opportunities for employment and income savings for domestic investment; and the privatization of key State enterprises, such as electricity and telecommunications; legislation and other measures to redress obvious cases of neglect and injustice done to ethnic minorities, particularly in the oil-producing areas of the Niger delta region, and to deal with the problems of the environment; investigation of past human rights violations, with a view to promoting and protecting fundamental freedoms; and strengthening the capacity of the law enforcement agencies to promote law and order, as well as security, and to deal more effectively with the problem of drug trafficking. Africa is indeed proud and glad to see the end of this century coincide with the total elimination of colonialism and the twin menace of constitutionalized racism in the southern part of the continent. The United Nations deserves our warm commendation for the crucial role it has played in this process. Let me also pay tribute to the thousands who lost their lives in the struggle for freedom so that those of us alive today can proudly say we have the destiny of the continent in our own hands. It is, however, a destiny which poses monumental challenges in our effort to improve the quality of life on our continent. We must strive to alleviate the grinding poverty and material deprivation that has persistently remained a feature of our political freedom. As we approach the dawn of the new millennium, the defining feature of our increasingly interdependent world is accelerated globalization, and the liberalization of production, trade, investment and finance. But for us in the developing world the reality today is quite different. Globalization, in its various manifestations, is already experiencing a troubled relationship with the imperatives of development. It is rather tragic that Africa, the least developed of all the regions and the least able to cope with external shocks, has borne the brunt of the adverse effects of globalization of the world economy. There are grim statistics which indicate that the well-known marginalization of the African continent has turned into delinkage from the global scene. Since 1992 Africa's exports and imports as a share of world trade has declined from 4 per cent to 2 per cent. Africa's development is presently straitjacketed by a debt burden of around $300 billion. The continent is experiencing import compression, weak productivity and low output. On the average, factories that are still operating do so at less than 30 per cent of installed capacity. Africa's share in total foreign direct investment inflows to developing countries has dropped from 11 per cent in the late 1980s to less than 5 per cent in the second half of the 1990s, and to a meagre 1.2 per cent of world foreign direct investment flows in 1997. This trend has continued, despite the efforts of African countries to implement far-reaching economic reforms and maintain macroeconomic stability, particularly through the introduction of a more open and business-friendly investment environment, and the provision of incentives to attract foreign investment. In the quest for a better and fairer management of a globalized world economy, it is now incumbent upon us to direct our searchlight on the unsatisfactory evolution of the multilateral trading system. In participating in the historic Uruguay Round of Multilateral Trade Negotiations that ushered in the new rules-based trading system, the developing world had hoped that the new trading regime would enhance their trading fortunes, facilitate their effective integration into the world economy, and arrest their marginalization from the global trading system. Unfortunately, however, the vast majority of developing countries, particularly in Africa, have so far been unable to reap the benefits arising from their membership of the World Trade Organization. Africa's trade prospects continue to be hampered by the non- implementation of the special and differential provisions that favour developing countries, and the increasingly protectionist measures that are being imposed against their export products. Besides, the paucity of technical and financial assistance that would have enabled the developing countries to take advantage of the limited market access opportunities that exist continues to deepen Africa's marginalization in the globalized world economy. Without doubt, the biggest monetary and financial obstacle confronting developing countries is the chronic 9 debt overhang. According to United Nations figures, the global debt of all developing countries stood at $567 billion in 1980, and $1.4 trillion in 1992. In that 12-year period these countries made foreign debt payments totalling $1.6 trillion. Now, out of the 41 countries which the World Bank describes as heavily indebted poor countries, 33 are African countries, a group that some believe is richly deserving of its own special category: severely indebted low-income countries. Today in sub-Saharan Africa every man, woman and child owes $357. This is a continent where millions live in abject poverty, earning around $100 a year, or 27 cents a day. Some African countries now spend as much as four times on servicing debts as they do on education and health care. Some countries spend up to 40 per cent of their national budgets on debt servicing. Furthermore, it is reliably estimated that for every dollar given in official development aid, $3 go back to the rich countries in debt service payments. I make bold to assert that calling for debt relief for developing countries is not a plea for charity, but is an urgent matter of social and economic justice. It has to be redressed if there is to be peace and stability in the twenty- first century. Therefore, we propose definitive debt cancellation, not just reduction or rescheduling of the debt service regime. Eligibility should be limited to unpayable debts, which for Africa means the bulk of the $300 billion current stock of debt. There should be debt remission that is not predicated on the institutionally harsh conditionalities of structural adjustment programmes. There should be recognition on both sides of the bargaining table that lenders and borrowers share joint responsibilities for debts incurred in circumstances that are morally questionable in the first place. Debt cancellation should benefit ordinary people. Nigerians rightly expect democracy to yield perceptible dividends in their lives. Our Administration will, however, find the task of meeting this expectation virtually impossible without substantial reduction of our debt burden, especially as we call on the same citizens to make the sacrifices that are implicit in the recent measures aimed at prudent management of our national economy. I wish to invite the attention of the Assembly to the related issue of illegal capital flight from Africa. It is an open secret that much of Africa's wealth has been illegally siphoned out of the continent by corrupt regimes and unpatriotic individuals working in collaboration with foreign partners. Nigeria and many African countries would be able to pay off large portions of their debts if only they could recover some of the capital illegally stashed abroad. We thus believe that now is the time to collectively deal with this issue. In this regard, Nigeria calls for a concerted effort by the international community, through an international convention, for the repatriation to Africa and the developing world of all capital illegally transferred from these countries. Such an international convention or agreement is legally feasible and morally sustainable. It will compel participating banks to disclose the source of the illegal accounts they hold, repatriate them to the countries of rightful ownership and subject the guilty parties to the full weight of national and international law. It is with a heavy heart that I raise the issue of the HIV/AIDS pandemic throughout Africa. Our continent is bearing the brunt of this terrible disease that now kills around 2 million Africans annually, thus officially overtaking malaria as Africa's number one primary health- care problem. This situation is even more frightening in that it has now left 6 million children orphaned in the eastern and southern parts of Africa. In West Africa the disease has been spreading just as rapidly. Unlike malaria, which is location specific, HIV/AIDS knows neither climatic nor regional boundaries. Global cooperation is an imperative if we are to succeed in dealing with this scourge. Among the immediate challenges facing Nigeria and Africa today is resolving the many conflicts raging on the continent. Today, as many as 19 sub-Saharan countries are engaged in armed conflicts. The negative impact of these conflicts in human, social, economic and environmental destruction does not need to be described here. Nigeria and indeed the entire West African subregion have devoted considerable human, material, political and diplomatic resources to the resolution of these crises in the subregion, starting with Liberia and subsequently Sierra Leone and Guinea-Bissau. Similarly, efforts are being made in the Democratic Republic of the Congo and in Angola towards peaceful resolution of their conflicts. 10 Indeed, African leaders at the recent summit of the Organization of African Unity (OAU) in Algiers, and at the urging of the Nigerian delegation, agreed to declare next year as the Year of Peace, Security and Stability in Africa. By this declaration, we have dedicated ourselves to making the year 2000 the year when Africans direct all their efforts into effectively eliminating armed conflicts on their continent. We hope to build on the fresh momentum for peace occasioned by the budding peace initiatives in Congo, Sierra Leone, Eritrea, Ethiopia and Angola. We are also agreed on the overriding need to uphold codes of decency, ethics and minimum standards of decorum among African Governments and their leadership. Gone are the days when the OAU turned a blind eye to the excesses and abuses of power by member Governments. Forceful and undemocratic changes of Governments will no longer be overlooked or tolerated. We intend to condemn in absolute terms all violations of these codes and to ostracize their perpetrators. It is our duty and moral responsibility to treat our citizens decently and humanely. My country has always believed that the threat to international peace and security from any corner of the globe should be considered a threat to the peace and security of the world as a whole. While the maintenance of international peace and security remains the primary responsibility of the Security Council, the Charter provision for the complementary role of regional and subregional groups has also proved to be critical to the maintenance of peace at the regional and global levels. The establishment of the Economic Community of West African States (ECOWAS) Monitoring Group (ECOMOG) is a clear testimony of our commitment to subregional peace. As the record shows, ECOMOG succeeded in putting an end to the Liberian war in 1997, reinstating the democratically elected President of Sierra Leone in 1998, and bringing about the current Peace Agreement for Sierra Leone signed in Lomé in July 1999. The time has come, however, for the Security Council to assume its full responsibility, specifically in Sierra Leone and other conflict flash points in Africa. For too long, the burden of preserving international peace and security in West Africa has been left almost entirely to a few States in our subregion. The non-implementation of the Peace Agreement and Nigeria's continual burden in Sierra Leone is unacceptably draining Nigeria financially. For our economy to take off, this bleeding has to stop. The United Nations needs to do more in providing logistics and financial support to assist regional peacekeeping and peace- building efforts, as well as enhancing the welfare of refugees worldwide without discrimination. My delegation believes that it has never been the purpose of the United Nations Organization to prescribe democracy and change for its members and yet make little or no progress in the democratization of its own organs, such as the Security Council. My delegation accordingly urges the General Assembly, during this session, to conclude deliberations and reach agreement on the modalities for the reform and expansion of the Security Council so that the Millennium Assembly will adopt them next year — and not later. How can the United Nations continue to perpetuate and justify a situation where Africa is the only continent without a permanent seat in the Security Council? In order to promote reform and democratization of the Security Council, Africa, with 53 Member States, should be allocated at least two permanent seats — commensurate not only with the continent's size and population, but with its track record also of contributing to the maintenance of international peace and security. I wish to reaffirm our belief that the United Nations is the most universal body ever designed for collectively resolving humankind's common problems. Our Organization has come a long way since its establishment 54 years ago. Although created in a different era and under different circumstances, and in spite of numerous constraints, the United Nations has continuously sought to adapt itself to the changes in the international political arena. It has been able to accomplish this to some degree, but it remains an institution whose working methods, procedures and administrative structure have in many respects become outdated. Yet the world as we know it today without the United Nations would be inconceivable. For it has come to symbolize hope for a better and more secure future for many, particularly in the developing areas of the world. Indeed, though a majority of our countries could not be members when the Organization was created, we are today its strongest defenders and advocates of the ideals for which it stands. We believe in the family of nations, and within that family the strong members have the responsibility to protect and strengthen the weaker members. At the close of the twentieth century and the beginning of the third millennium, there is a need for stock-taking and for proper assessment of the implementation of previous resolutions emanating especially from the major world summits and conferences which took place in this decade. Such an effort would bring us closer to the realization of the purposes and objectives of our Organization. In this regard, I stand before the Assembly and pledge Nigeria's continued contributions and positive commitment to the ideals of the Charter of the United Nations.