Wale Edun Engages G-24 Leadership as Nigeria Prepares for 2025/26 Chairmanship

Nigeria’s Finance Minister, Wale Edun, has intensified consultations with the leadership of the Intergovernmental Group of Twenty-Four (G-24) ahead of Nigeria’s assumption of the group’s chairmanship in 2025/26. The move signals Abuja’s commitment to advancing Africa’s voice in global financial governance and pressing for reforms within the international financial system. Edun, who currently serves as First Vice-Chair of the G-24, held high-level meetings with the group’s leadership and international stakeholders during recent IMF-World Bank engagements. His discussions focused on Nigeria’s priorities for its upcoming tenure, which include deepening trade integration through the African Continental Free Trade Area (AfCFTA), securing long-term financing for sustainable growth, and pushing for stronger African representation in multilateral financial institutions. The minister highlighted Nigeria’s ongoing economic reforms, including the removal of fuel subsidies, exchange rate unification, and enhanced revenue mobilisation measures. He argued that reforming economies undertaking difficult but necessary policies should be supported with concessional loans, innovative financing mechanisms, and risk-sharing facilities to cushion the short-term impact of structural adjustments. Edun also reiterated the call for institutional reforms at the IMF and World Bank to give Africa a stronger voice in decision-making. He stressed the urgency of expanding climate finance, urging global partners to adopt predictable and scalable funding models that will enable developing countries to address climate change while sustaining economic transformation. The G-24 leadership welcomed Nigeria’s vision, noting that it aligns with the group’s broader advocacy for fairer access to financing, industrial development, climate resilience, and inclusive governance within the global financial architecture. Observers say Nigeria’s chairmanship will come at a critical time, as developing nations push for faster reforms in multilateral systems and demand tools tailored to their unique economic realities. According to the finance ministry, Nigeria intends to use the chairmanship to reinforce its position as a reform-driven economy open for investment, while rallying global support for Africa’s development priorities. Analysts, however, caution that Abuja’s success will depend on its ability to build consensus within the bloc and deliver tangible outcomes, particularly in expanding concessional financing and securing greater representation for Africa. As preparations continue, Nigeria is expected to present a formal agenda for its leadership tenure, focusing on trade, climate finance, industrialisation, and institutional reforms. Edun’s ongoing engagements have already signaled the country’s readiness to use its chairmanship to advance Africa-centred solutions at the heart of the Bretton Woods institutions.