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Home News Bite Politics

Financial Restructuring And Reevaluation Of Global Governance Structure Must Be Addressed – Tinubu

admin by admin
July 7, 2025
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Bola Tinubu

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President Bola Tinubu has said that the present global governance structure and the financial/healthcare systems need to be reevaluated.

He recently advocated for greater equity and inclusion for low-income and emerging economies, especially in Africa.

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The Presidency has dismissed the political strength of the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, insisting that President Bola Tinubu is no longer under any threat from the former Labour Party presidential candidate. Special Adviser to the President on Media and Public Communication, Sunday Dare, made the remarks during an appearance on the *Mic On Podcast*, where he defended the Tinubu administration against criticisms from the opposition. According to Dare, while Obi may have posed a significant political challenge in the past, the current administration believes its achievements have strengthened President Tinubu’s position ahead of future elections. He also rejected calls by Obi for President Tinubu to resign, arguing that such demands have no constitutional basis. “The government is not afraid of Peter Obi. Just as he has the right to ask President Tinubu to resign, the government also has the right to tell him that the President will not resign because there is no basis for such a demand,” Dare said. He stressed that Nigeria operates a constitutional presidential system with elections held every four years, adding that the proper avenue for seeking political change is through the ballot box. Dare maintained that the administration has made measurable progress in addressing the country's challenges, insisting that its performance has earned it public confidence. According to him, the government has successfully confronted critical national issues and remains focused on delivering its mandate rather than being distracted by opposition rhetoric. The presidential aide further claimed that Obi no longer represents the political force he once did, stating that the President now stands on a stronger political footing because of his administration’s record. He concluded by expressing confidence that Obi would be unable to repeat his 2023 electoral success over Tinubu in Lagos State. “Peter Obi was a threat before, but today he is no longer a threat because we stand on the solid ground of performance. We have been able to interrogate the problems of this country. Peter Obi will not defeat President Tinubu in Lagos again,” Dare declared.

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Speaking at the 17th meeting of the Global South and the Emerging Economies bloc, BRICS, on Saturday in Rio de Janeiro, Brazil, via a press statement signed by his spokesperson, Bayo Onanuga, Tinubu said that the climate crisis and healthcare inequalities across the globe should be addressed as soon as possible.

He stated that environmental degradation plaguing nations around the world also requires urgent attention because it directly contributes to the stunted development experienced globally.

According to him, Nigeria backs the BRICS position on the need to concentrate on collective, fair, and equitable global development.

President Tinubu was invited to the summit by Brazil’s President Luiz Inacio Lula Da Silva, and Nigeria became the 9th partner country of BRICS in January 2025, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.

He emphasised that environmental degradation, climate crisis, and global healthcare inequalities have all affected African nations for many years, hence the need for quick solutions.

“Nigeria, therefore, associates with what I have heard today and all that has happened in BRICS. The next issues are financial restructuring and reevaluation of the global structure.

Africa has contributed the least to global emissions but suffers the most,” he said.

BAT reiterated the need for a fresh path of justice, with fairness, sustainable technology transfer, and accessible financing as its foundation, to help emerging economies benefit properly from several initiatives.

He concluded by saying that Nigeria will keep committing to strategic partnerships that will lead to sustainable and inclusive development for the people.

“The African continent is creating the path through the African Carbon Market Initiative and the Great Green Wall. We believe that COP-30 will strengthen our resolve to adopt a strategic approach to achieving a healthy global environment.

Nigeria strongly believes in South-South cooperation. We can, therefore, not be passive participants in global decision-making on financial restructuring, debt forgiveness, climate change, environmental issues, and healthcare.

We must be the architects of a future that addresses the specific needs and concerns of youths, who represent 70 per cent of our population in Nigeria. Therefore, Nigeria remains guided by our long-term vision, 2050, and nationally determined contribution.

We are taking bold steps to accelerate renewable energy adoption, mainstream climate action, promote nature-based solutions, strengthen urban resilience, champion South-South cooperation, align with the global renewal framework and achieve universal health coverage for all.

As we approach COP-30 and look to strengthen the global health system, we believe the BRICS must not only be a bloc for emerging economies but also a beacon for emerging solutions and resolutions rooted in solidarity, self-reliance, sustainability, and shared prosperity of a common future.

Nigeria reaffirms its commitment to strategic collaboration that translates into sustainable and inclusive development for all,” he added.

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