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Minister banks on NEPAD over debt burden Foreign Affais Minister, Chief Olu Adeniji has expressed optimism that New Partnership for Africa�s Development (NEPAD) will help in redressing mounting African nations� debt burden. Speaking on "NEPAD: Evolution and Relevance to Nigeria�s Foreign Policy and Interests��, at the Yoruba Tennis Club in Lagos at the weekend, he said he was hopeful that the continent�s creditors would be better persuaded through NEPAD to resolve the debt issue . He said the partnership with the developed nations would enable African countries to repatriate some of the enormous funds stashed away in foreign banks as a result of corrupt practices. The minister urged the continent�s private sector to take up the challenge of NEPAD and not to wait for government to do everything. He said it was necessary for the private sector to take advantage of NEPAD to get Africa out of the doldrums to be able to meet current globalisation goals set by the United nations. He explained that NEPAD was intended to curb nationalisation of Africa in the global development and integrate it into the global economy. "NEPAD is also aimed at empowering women, because it has been realised that the potential in African women needs to be tapped to the maximum," he said. Nigeria is still grappling with a heavy debt burden put at about $32 billion. © 2004 @ Champion Newspapers Limited (All Right Reserved). Powered By dnetsystems.net dnet®

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