Nigeria calls for reform of global governance, financial system at BRICS Summit
Abdullateef Fowewe
President Bola Tinubu has called for an urgent overhaul of global governance structures and international financial institutions to reflect current economic and demographic realities.
Tinubu made the call on Sunday at the 18th BRICS Leaders’ Summit in New Delhi, India.
His address was delivered on his behalf by Vice President Kashim Shettima, who represented Nigeria at the summit.
The President said Nigeria supported a more representative, equitable and responsive global system, including reforms to the United Nations Security Council and international financial institutions.
“Nigeria supports a more representative, equitable and responsive global governance architecture, including reform of the United Nations Security Council and the international financial system.”
He said BRICS had strengthened the voice of the Global South and urged the bloc to move beyond discussions and commitments towards practical development outcomes.
Tinubu called for “a BRICS partnership that moves from dialogue to delivery, from commitments to implementation, and from cooperation to measurable development outcomes.”
The President also invited foreign investors to explore Nigeria’s economic opportunities, describing the country as “a gateway to Africa’s expanding market under the African Continental Free Trade Area.”
He said Nigeria’s economic resilience strategy was anchored on reforms to strengthen macroeconomic stability, diversify production, expand infrastructure and human capital, attract investment, and promote private-sector-led growth.
Tinubu further urged BRICS countries to deepen cooperation in trade, agriculture, food security, energy, infrastructure, manufacturing, healthcare and critical minerals.
“We welcome BRICS cooperation in trade, agriculture, food security, energy, infrastructure, manufacturing, healthcare and critical minerals, especially partnerships that advance technology transfer, local value addition, industrial capacity and employment,” he enunciated.
He identified Nigeria’s young population as a major national asset, noting that its creativity and enterprise were driving innovation in areas such as digital skills, entrepreneurship, research, artificial intelligence and technology-enabled businesses.
The President also sought expanded cooperation in artificial intelligence, digital public infrastructure, fintech, telecommunications, cybersecurity, biotechnology and advanced manufacturing.
“A nation that owns no technology risks renting its future.”
Tinubu said Nigeria was ready to work with BRICS countries to promote trade, investment, technology transfer, human-capital development and sustainable infrastructure.
He also reaffirmed Nigeria’s support for affordable climate finance, technology transfer and capacity-building for Africa, while calling for cooperation in renewable energy, gas, clean technologies, climate-smart agriculture and responsible critical-mineral development.
“Our partnerships must create jobs, expand trade, transfer technology, and strengthen our nations’ productive capacity,” he said.
Earlier, Indian Prime Minister Narendra Modi said BRICS had gained greater confidence among countries of the Global South because their voices were being heard and their experiences respected.
Modi said the strength of BRICS lay in its diversity and cooperation, adding that the bloc’s initiatives were promoting skills, employment, enterprise development and knowledge-sharing among member and partner countries.
The 18th BRICS Summit is being held in New Delhi from September 12 to 13 under the theme, “Building for Resilience, Innovation, Cooperation and Sustainability.”
