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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.

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.

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“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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