Nigeria has urged leaders of the world’s most influential economies to reform global economic frameworks in ways that ensure fairness, inclusivity, and sustainable development, especially for countries in the Global South.
Vice President Kashim Shettima, who delivered President Bola Ahmed Tinubu’s address at the Third Session of the 2025 G20 Leaders’ Summit on Saturday, said the world is at a defining moment, with issues of critical minerals, decent work, and artificial intelligence demanding a collective moral response — not just economic calculations.
Speaking at the Johannesburg Expo Centre, the vice president praised South Africa’s leadership of the G20 and commended President Cyril Ramaphosa for what he described as “purposeful” stewardship of the group.
“We appreciate the warm reception and congratulate President Ramaphosa on the successes of the South Africa G20 Presidency,” Shettima said.
“Nigeria commends the group’s efforts to accelerate inclusive, sustainable growth where financing for development is guaranteed and no country is left behind.”
The Nigerian delegation made a strong case for a new global financial and trade system that reflects current realities and removes systemic barriers facing developing economies.
“For trade to be truly inclusive, the G20 must take all necessary steps to reform the international financial architecture,” Shettima said.
“Only a more equitable and effective system can fairly manage global financial flows, address recurring debt crises, and respond to the needs of all nations — especially those in the Global South.”
He warned that many developing nations continue to operate within structures that were neither designed for them nor capable of supporting long-term economic stability.
Nigeria also emphasised that countries rich in critical minerals must benefit more substantially from their own resources.
“Our position is unequivocal: value must be added at the source,” Shettima declared.
“Local beneficiation must be supported, and communities who host these resources must not be left behind.”
He argued that the global debate over minerals, technology, and energy transition “goes far beyond economic arithmetic” and instead speaks to “the moral character of the world we aspire to build.”
In a portion of the address that resonated strongly across the African delegation, Shettima said Africa’s development cannot shift meaningfully without the collective resolve of the G20.
“Africa cannot realise a positive paradigm shift while its development trajectory remains restricted,” he said.
“What the continent urgently needs is sustainable financing to implement its development priorities effectively.”
He also called for deeper cooperation on technology transfer, capacity building, and inclusive investment that elevates human dignity above profit.
Shettima urged G20 leaders to build a global economy that leaves no nation behind.
“The issue before us is moral,” he stated.
“For a fair and just future, Nigeria calls for systems that expand opportunity, reduce inequality, and make global prosperity truly global.”
