“The business community has a direct stake in helping countries reach these goals and achieve broad-based, sustainable development. Reducing poverty helps create stable and inclusive markets, as well as the purchasing power that allows markets to grow. Supporting such progress makes good business sense, and it makes good development sense,” he said.
The United Nations has a partner in a Nigerian business community prepared to help carry the Global Compact forward, he said. “Your entrepreneurial spirit, willingness to take risks and commitment to good corporate citizenship can help your country realize the vision of the New Partnership for Africa's Development (NEPAD) and guarantee a better future for all Nigerians.”
As a voluntary initiative, the Compact relies on the vision and commitment of private sector leaders to make its principles an integral part of their day-to-day operations. Rather than seeking regulation, sanction or confrontation, the Compact emphasizes dialogue, learning and projects. Instead of interpreting existing norms and regulatory frameworks, the Global Compact focuses on finding practical solutions, Mr. Annan said.
To government and business leaders in Nigeria, he said: “Your commitment and your leadership will determine whether the Global Compact will succeed in your country, and whether it will expand throughout the African continent. I am confident that the Global Compactcan take root and blossom in your country and in the region. If it does, it can prove a new and practical source of hope for Africans everywhere.”
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