The Economic and Financial Committee also referred to as the Second Committee deals with issues relating to economic growth and development such as macroeconomic policy questions (including international trade, international financial system, debt and commodities), financing for development, sustainable development, human settlements, poverty eradication, globalization and interdependence, operational activities for development, and information and communication technologies for development. It also considers issues relating to Groups of Countries in special situations – such as the Least Developed Countries (LDCs) and Landlocked Developing Countries (LLDCs). In addition, the Committee considers the item on permanent sovereignty of the Palestinian people in the Occupied Palestinian Territory, including East Jerusalem, and of the Arab population in the occupied Syrian Golan over their natural resources.
Nigeria represented by Ambassador U. Joy Ogwu was elected Chairman of the Second Committee of the 63rd session of the United Nations General Assembly on 4 June 2008. Under Nigeria’s chairmanship, the Second Committee, uncharacteristically, concluded its work on schedule, as Professor Ogwu introduced a combination of reforms, including effective clustering of agenda items, good and effective time management, regular coordination meetings with key Ambassadors, Bureau Members and facilitators of various agenda items and hosting of purposeful side events. In addition, the Committee achieved remarkable consensus in the final outcome of its work as only three resolutions were adopted by vote, out of the 40 draft proposals it acted upon.