Nigeria has called for urgent structural reforms to promote economic equity, security, and sustainable development at the ongoing G20 Foreign Ministers’ Meeting in Johannesburg, South Africa. Delivering the country’s position, Minister of Foreign Affairs Yusuf Tuggar emphasized the need for a more inclusive global financial system that addresses the economic challenges faced by developing nations.

Congratulating South Africa on its G20 Presidency, Tuggar reaffirmed Nigeria’s support for its key priorities, including disaster resilience, debt sustainability, just energy transition, and leveraging critical minerals for inclusive growth.

Highlighting the persistent economic challenges facing Africa—exacerbated by external financial pressures and inequitable trade practices—Tuggar stressed the need for a more inclusive global financial system. He advocated for an overhaul of international financial institutions to ensure fairer access to funding for developing economies.

Tuggar also underscored the importance of debt sustainability, urging developed nations and multilateral lenders to adopt policies that foster long-term economic growth rather than restrictive financial conditions.

Beyond economic reforms, he addressed pressing global security concerns, calling for coordinated action to tackle rising conflicts and humanitarian crises. He emphasized Nigeria’s commitment to peacekeeping and argued that economic equity is a fundamental pillar of global stability.

On the issue of counterterrorism, Tuggar called for a holistic approach that extends beyond military interventions, advocating for greater investments in education, healthcare, and job creation to address the root causes of insecurity.

A key aspect of his address was tax justice, where he urged the G20 to support President Bola Ahmed Tinubu’s initiatives to curb capital flight and tax evasion by multinational corporations. He called for stricter regulations on tax havens, enhanced financial transparency, and stronger international collaboration to ensure all nations benefit equitably from global trade and investment.

Reaffirming Nigeria’s commitment to global economic reforms, Tuggar stressed the need for a fair and transparent financial system that fosters shared prosperity and sustainable development.