Nigeria, the most populous nation in Africa, has announced its participation in the upcoming G20 summit scheduled in New Delhi on September 9 and 10 and is contemplating the possibility of applying for membership in this group of nations, according to the country’s presidency.
President Bola Ahmed Tinubu, who assumed office in May, has expressed his intention to attend the summit in India, where discussions will encompass topics such as trade, the global economy, climate change, and the conflict in Ukraine.
In a statement released on Sunday, Ajuri Ngelale, the spokesperson for the Nigerian presidency, disclosed that Nigeria aspired to join the G20 but was currently engaged in internal deliberations within the government to assess the advantages and disadvantages of such a move. The spokesperson said that Tinubu’s participation in the G20 summit in India aligns with this debate, as the government will decide soon whether it is in the best interests of the country to pursue membership.
Bola Tinubu is set to attend the 18th G20 summit at the invitation of Indian Prime Minister Narendra Modi. During his visit, he will also participate in a round-table discussion involving Indian and Nigerian business leaders and industrialists.
In addition to attending the summit, the Nigerian President and his ministers plan to engage in bilateral discussions aimed at attracting more foreign investments to Nigeria, a prominent oil-producing nation on the African continent.
Since assuming office, Bola Tinubu has initiated a series of reforms designed to rejuvenate the economy and encourage greater investment in Nigeria.
The G20 serves as a forum for the world’s largest economies, consisting of 19 countries and the European Union, collectively representing 85% of global GDP and two-thirds of the world’s population.