G20 Summit: Nigeria’s participation, a recognition of growing global influence- Tugger

Nigeria’s invitation to participate in the G20 meeting as a guest is a recognition of the country’s growing influence on the global stage.

Yusuf Tuggar, minister of foreign affairs, on Thursday, said President Bola Tinubu, who is leading Nigeria’s delegation to the summit, was determined to project the nation’s economic priorities and forge new partnerships to promote sustainable growth.

The high-level economic diplomacy was already yielding strong positive outcomes, with over $14bn investments attracted ahead of the official commencement of the summit on Friday.

President Tinubu is billed to deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference. The 2023 G20 Summit holds in India, from Saturday 9, to Sunday 10, September.

Tugger noted that the summit presented an opportunity for the president to highlight Nigeria’s attractiveness as an investment destination, specifically outlining his cross-sectoral reform plan as encapsulated by the Renewed Hope Agenda.

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The president’s itinerary will also feature bilateral meetings with a cross-section of world leaders from four different continents, representing both G-20 and non–G20 countries. These engagements are geared towards strengthening bilateral economic, trade, and investment partnerships for mutual benefit.

At the G20 Summit, the Nigerian leader is expected to share Nigeria’s perspective on the theme, “One Earth-One Family-One Future,” which speaks to the global unity required to address the challenges facing humanity and the planet.

With its collective contribution of up to 80 percent of global GDP, 75 percent of international trade, and housing 60 percent of the world’s population, the G-20 constitutes a significant economic power bloc of socio-economic opportunity and geo-political stability.

While Nigeria’s membership of the G-20 is desirable, the government has embarked on wide-ranging consultations with a view to ascertaining the benefits and risks of membership.

This is consistent with the desire of the president to democratize foreign policy and articulate policy formulation and implementation through a Whole-of-Society and a Whole-of-Government approach that achieves the nation’s long-term strategic objectives.

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Tuggar said Nigeria has participated in over 140 G20 meetings both at the ministerial level and engagement groups levels from December 2022 to date

“Once consultations are concluded, the government will decide whether or not to apply to join as appropriate.

“The participation of President Tinubu at the G-20 Summit in India is, in part, in furtherance of this objective.

The G20 stands as paramount arena for fostering international economic collaborations.