Tinubu Calls For Global Governance, Financial System Reforms At BRICS Summit

President Bola Ahmed Tinubu has called for an urgent reform of global governance structures and the international financial system, saying the rules guiding the global order must reflect current economic and demographic realities.

Speaking at the 18th BRICS Leaders’ Summit in New Delhi, India, on Sunday, Tinubu made the call in an address delivered on his behalf by Vice President Kashim Shettima.

In a statement issued by the Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Tinubu said Nigeria supports a more representative and equitable global system, including reforms to the United Nations Security Council and international financial institutions.

“Nigeria supports a more representative, equitable and responsive global governance architecture, including reform of the United Nations Security Council and the international financial system.

“BRICS amplifies the voice of the Global South and advances a more inclusive international order, consistent with Nigeria’s call for institutions that reflect contemporary economic and demographic realities,” he stated.

The President also called for BRICS cooperation to move beyond discussions and commitments towards practical outcomes capable of improving development across member and partner countries.

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Accordingly, President Tinubu made Nigeria’s case for “a BRICS partnership that moves from dialogue to delivery, from commitments to implementation, and from cooperation to measurable development outcomes.”

He also used the summit to invite international investors to explore opportunities in Nigeria, positioning the country as a strategic entry point into the continent’s growing market.

He urged investors to view Nigeria “as a gateway to Africa’s expanding market under the African Continental Free Trade Area.”

Tinubu said Nigeria’s economic resilience strategy was focused on building an economy capable of absorbing global shocks while creating sustainable opportunities for its citizens.

He said the approach was being pursued through his administration’s Renewed Hope Agenda, with reforms targeting macroeconomic stability, diversification of production, increased productivity, infrastructure and human-capital development, investment attraction, private-sector-led growth and climate resilience.

“We welcome BRICS cooperation in trade, agriculture, food security, energy, infrastructure, manufacturing, healthcare and critical minerals, especially partnerships that advance technology transfer, local value addition, industrial capacity and employment,” he added.

The President also highlighted Nigeria’s youthful population as a major economic asset, saying the creativity and enterprise of young Nigerians were helping to drive the country’s innovation agenda.

He identified digital skills, entrepreneurship, research, artificial intelligence and technology-driven businesses as key areas requiring investment, citing initiatives including 3MTT, Project BRIDGE and national AI programmes.

“We welcome deeper BRICS cooperation in artificial intelligence, digital public infrastructure, fintech, telecommunications, cybersecurity, biotechnology and advanced manufacturing, because developing countries must produce technology, create knowledge and own intellectual property. A nation that owns no technology risks renting its future.

“Nigeria sees cooperation with BRICS as a practical opportunity for trade, investment, technology transfer, and human-capital development. We support partnerships in infrastructure, connectivity, energy, agriculture, healthcare, education, and industrialisation, backed by development finance.

“As Project BRIDGE expands broadband, fibre and digital public services, we seek an open, secure, and inclusive digital ecosystem that advances innovation, digital trade, responsible artificial intelligence, and cybersecurity”

Tinubu further said Nigeria’s sustainability approach seeks to combine climate action with the development needs of emerging economies.

He reaffirmed Nigeria’s support for affordable climate finance, technology transfer and capacity-building for Africa, while identifying renewable energy, gas, clean technologies, climate-smart agriculture, sustainable infrastructure and responsible critical-mineral development as areas for cooperation.

According to him, such partnerships should ensure that climate action contributes to wider economic development.

The President said Nigeria was prepared to contribute to a BRICS partnership capable of responding to global shocks, embracing technological change, promoting shared prosperity and protecting future generations.

“Our partnerships must create jobs, expand trade, transfer technology, and strengthen our nations’ productive capacity. We must build a future in which Africa moves from the margins of global development to the frontiers of global growth and innovation,” he maintained.

Earlier, Indian Prime Minister Narendra Modi, who opened the 18th BRICS Leaders’ Summit, said the bloc had gained greater confidence among countries of the Global South because their voices were being heard and their experiences respected.

Modi said BRICS was developing solutions with countries rather than for them, while describing the bloc’s diversity and cooperation as key sources of its strength.

“We may be rooted in different realities, but together, we rise through cooperation and blossom for humanity,” he said.

The Indian Prime Minister also highlighted initiatives including BRICS CONNECT, the BRICS MSME Cooperation Portal and the BRICS Urban Mobility Hub, saying they were aimed at supporting skills development, employment, enterprise growth and knowledge-sharing among member and partner countries.

He further stressed the importance of balancing economic development with environmental responsibility, saying sustainability must remain central to BRICS cooperation and efforts to safeguard the interests of future generations.