Reported by: Ime Richard Aondofa | Edited by: Henry Owen
At the 31st Nigerian Economic Summit, Nigeria’s Foreign Affairs Minister underscored that economic reform is not optional but essential—a foundational step toward achieving prosperity and inclusive growth for Africa’s largest economy.
Speaking at the summit, the Minister noted that with a GDP exceeding $243 billion and a population driving the continent’s growth potential, Nigeria’s transformation hinges on the strategic alignment of its economic and foreign policies.
Under President Bola Ahmed Tinubu’s Renewed Hope Agenda, and guided by the nation’s 4D Foreign Policy—Democracy, Development, Demography, and Diaspora, Nigeria’s diplomatic efforts are being refocused to serve economic goals, the Minister said.
“Our diplomacy must unlock trade corridors, attract investment, and build partnerships that deliver tangible results,” he explained, stressing that the administration’s policies are aimed at strengthening Nigeria’s global competitiveness while improving domestic productivity.
He further stated that President Tinubu’s bold reforms are already restoring macroeconomic stability, catalysing growth, and reaffirming Nigeria’s leadership role in Africa. The Minister added that these reforms—though challenging—are designed to build a resilient economy capable of sustaining long-term development.
Reiterating Nigeria’s stance on global partnerships, the Minister emphasised Strategic Autonomy as the nation’s guiding foreign policy principle, noting that “Nigeria will continue to pursue partnerships of purpose, not alliances of obligation.”
The summit, which brought together policymakers, business leaders, and development partners, focused on charting a path for sustainable economic transformation through innovation, policy coherence, and private-sector collaboration.
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