Nigeria is mulling over joining the G20 bloc of major economies, said the president’s spokesperson on Sunday. The nation has concluded discussions on the risks and benefits.
President’s spokesperson Ajuri Ngelale also said that Bola Tinubu will depart on Monday to participate in the G20 summit in India as he was invited by the host nation’s Prime Minister Narendra Modi. The G20, a group of the world’s 20 most industrialised nations, consists of only one African nation, South Africa.
About Nigeria’s G20 plans, Ngelale said, “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.”
According to Tinubu, one of the goals of his visit was to further Nigeria’s membership goal, Ngelale added.
According to Ngelale on Friday, Tinubu would attend the G20 conference in an effort to encourage foreign investment in Nigeria and raise money from across the world for infrastructure development. Accompanying Tinubu at the conference will be ministers of foreign affairs, finance, and commerce.
In an effort to revitalise an economy beset by record debt, a depreciating currency, double-digit inflation, and sparse power supplies, Nigeria’s new administration aims to promote investments rather than rely on borrowing to generate jobs.
Investors have praised Tinubu’s measures, which are the most daring in decades. But they have made things worse for Nigerians, who already face a problem related to the expense of life.
