Deputy Speaker of Nigeria’s House of Representatives, Hon. Benjamin Kalu, has urged the implementation of debt cancellation measures, including debt-for-development swaps, as a strategy to ease Africa’s growing debt challenges. He also called for the renegotiation of Economic Partnership Agreements (EPAs) to better align with the African Continental Free Trade Area (AfCFTA), support local industrial policies, and eliminate non-tariff trade barriers.
Kalu made these remarks during a meeting with Fabio De Masi, a member of the European Parliament, on the sidelines of his working visit to Brussels, Belgium.
De Masi, known for his strong stance against neoliberal austerity and advocacy for economic and social justice, is a member of the Left Group (GUE/NGL) and affiliated with Bündnis Sahra Wagenknecht (BSW). He also serves on key European Parliament committees, including those dealing with economic and monetary affairs and Africa-EU relations.
As head of the Monetary and Financial Affairs Committee of the Pan-African Parliament (PAP), Kalu led discussions with European lawmakers on Africa’s development challenges. He emphasized the need for a more balanced and fair relationship between Africa and Europe—one rooted in mutual respect, sustainable development, and shared values.
“This moment presents a unique chance to redefine EU-Africa parliamentary cooperation with a focus on justice, equity, and structural transformation,” Kalu said.
He outlined several priority areas for collaboration:
- Advocacy for debt cancellation and development-based debt swaps.
- Stronger parliamentary oversight for African nations facing high debt risks.
- Reforming trade agreements to align with AfCFTA, reduce trade barriers, and promote value-added production and intellectual property rights.
Citing African Development Bank data, Kalu noted that only 15% of Africa’s trade occurs within the continent, while 80% of exports remain unprocessed raw materials. He stressed the importance of revising EPAs to foster local manufacturing and industrial growth.
Other topics on the agenda included tax justice, migration, climate finance, and enhanced legislative cooperation between African and European parliaments.
Kalu also pushed for Africa to be recognized as an equal partner—not a beneficiary—in the global green transition. He emphasized:
- Creation of an EU-AU joint task force to combat illicit financial flows (IFFs), with Africa losing over $88 billion annually—almost twice its aid intake.
- The need for unconditional and transparent climate financing, especially considering that Africa receives just 3% of global climate funds despite being the most vulnerable continent to climate change.
- Greater investment in solar energy infrastructure. Despite Africa holding 60% of global solar potential, it receives less than 1% of solar investments worldwide.
He urged the EU to ensure its Green Deal is in sync with Africa’s Agenda 2063, particularly in areas such as climate resilience, clean energy access, and operationalising the Loss and Damage Fund.
Kalu concluded by asserting that addressing root causes through localized development is the most effective approach to curbing irregular migration to Europe.