Nigeria has officially assumed the leadership of the Intergovernmental Group of Twenty-Four (G-24), pledging to push for major reforms in the global economic system that will benefit developing nations. The announcement was made on Wednesday during the G-24 Ministers and Governors meeting held in Washington D.C., on the sidelines of the World Bank and International Monetary Fund (IMF) annual meetings.

Representing President Bola Ahmed Tinubu, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the country’s new role signifies Africa’s growing influence in shaping global financial policies. He assured that Nigeria will champion fair trade, debt relief, and equitable access to financial resources for low and middle-income countries.

Edun emphasized that the world’s economic structure must be reformed to ensure inclusive growth. He noted that while many developing nations face rising debt and inflation, global financial systems continue to favor wealthy economies. According to him, Nigeria will work with other G-24 members to demand a more just and transparent financial framework.

He further explained that under Nigeria’s leadership, the G-24 will prioritize reforms in global taxation, climate financing, and digital financial inclusion. Edun highlighted President Tinubu’s ongoing domestic reforms as an example of Nigeria’s readiness to drive bold economic change both locally and globally.

The G-24, established in 1971, serves as a platform for developing countries to coordinate their positions on international monetary and financial issues. With Nigeria at the helm, expectations are high for stronger advocacy on issues affecting Africa and other emerging economies.