Nigeria strengthens global alliances, secures partnerships at G20 Summit

By Kunle Sanni

Nigeria is asserting itself as a key player in global economic and diplomatic arenas, leveraging its engagement at G20 summits to foster international collaborations and secure strategic partnerships.

This commitment was emphasized by the Minister of Foreign Affairs, Yusuf Tuggar, and the Minister of State for Finance, Doris Uuzoka-Anite, during separate interviews on Wednesday night.

Highlighting Nigeria’s growing involvement with the G20, Yusuf Tuggar explained the gradual process required to become a formal member of the influential group.

“Membership in the G20 is not immediate; it’s achieved through consensus. Nigeria has been actively participating and making impactful contributions, especially in championing the interests of the Global South,” he stated.

Tuggar underscored Nigeria’s leadership in addressing global issues such as poverty and hunger, which align with the priorities of the G20 under Brazil’s presidency.

He pointed to Nigeria’s successful advocacy for the United Nations tax resolution as a significant step toward addressing global taxation inequities that disproportionately affect developing nations.

Tuggar also highlighted bilateral agreements with Brazil, particularly in agriculture. “We are collaborating with Brazil on improved seeds and agricultural technology to boost food production in Nigeria, replicating Brazil’s success in transforming barren savannah into fertile farmland,” he noted.

Revealing that plans to resume direct flights between Nigeria and Brazil were underway, Tuggar also mentioned agreements such as a $5 billion ethanol production project in Niger State, which will stimulate local economic growth and generate carbon credits.

Dr. Doris Uuzoka-Anite provided updates on President Bola Tinubu’s meeting with the Managing Director of the International Monetary Fund (IMF).

She revealed that the IMF commended Nigeria’s bold economic reforms, including the removal of fuel and foreign exchange subsidies.

“These reforms are challenging but essential. The IMF is providing technical support in critical areas such as budget design, fiscal policy, and access to concessional funding. They are particularly impressed by our social safety net programs aimed at cushioning the impact on vulnerable populations,” Uuzoka-Anite stated.

She dismissed claims of IMF skepticism, affirming that the institution fully supports Nigeria’s reform agenda. “The IMF recognized the positive outcomes of our reforms and pledged continued assistance to help Nigeria navigate its economic challenges,” she added.

Both ministers emphasized Nigeria’s determination to translate these global engagements into long-term economic stability. Tuggar stressed the government’s focus on forming enduring partnerships in agriculture, infrastructure, and social programs, while Uuzoka-Anite reiterated the administration’s commitment to ensuring that reforms yield tangible benefits for citizens.

“Nigeria is not just participating; we are shaping the narrative and championing causes that resonate with the Global South,” Tuggar concluded.