Nigeria mulls applying for G20 membership
The Nigerian President will be attending the G20 summit in India after he was invited by Prime Minister Narendra Modi.
According to the Nigerian President's Spokesperson Ajuri Ngelale on Sunday, Nigeria is contemplating applying to join the G20 bloc of major economies, following talks on the risks and advantages.
Ngelale added that the Nigerian President, Bola Tinubu, will be attending the G20 summit in India after he was invited by Prime Minister Narendra Modi.
South Africa is the only African country in the bloc so far.
Ngelale remarked that "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," adding that the attendance of the President is to push for Nigerian membership.
On Friday, Ngelale stated that Tinubu will attend the G20 conference in order to encourage foreign investment in Nigeria and mobilize global funds for infrastructure development.
As it attempts to revitalize an economy beleaguered by record debt, a weak currency, double-digit inflation, and skeletal power supplies, Nigeria's new administration wants to stimulate investment rather than rely on borrowing to generate jobs.
Tinubu has initiated the most daring changes in decades, which have been well-received by investors. However, they have added to the misery of Nigerians who are already suffering from a high cost of living.
Tinubu will attend the summit alongside several of his cabinet colleagues, including ministers of foreign affairs, finance, and commerce.
Tinubu admits war in Africa not in interest of Nigeria, continent
Addressing the Niger crisis, the Nigerian President and chairman of the Economic Community of West African States (ECOWAS), claimed that while his country and the entire region stand against a full-scale war in Africa, safeguarding democracy remains of utmost importance.
"War is not conducive to my economic reforms or the region, but ensuring the integrity of democracy is an absolute priority," Tinubu's statement read.
Amid escalating tensions, Tinubu highlighted ECOWAS' commitment to seeking diplomatic solutions. He also acknowledged the organization's preparedness to explore all potential approaches to address the challenges at hand.
As the call to uphold alleged "democratic principles" gains prominence, the ECOWAS bloc seems to beat the drums of war.