BRICS Summit: Tinubu Seeks Reform Of Global Financial, Health Systems

President Bola Tinubu has called for a re-evaluation of the current global governance structure and the financial and healthcare systems.

He urged greater equity and inclusion for low-income and emerging economies, particularly in Africa.

At the 17th meeting of the Global South and the Emerging Economies bloc, BRICS, on Saturday in Rio de Janeiro, Brazil, the president in a statement by his spokesman, Bayo Onanuga, stated that environmental degradation, the climate crisis and healthcare inequalities should receive more attention, as they contribute to slowing growth and development.

Tinubu, who  was invited to the summit by his Brazililian counterpart Luiz Inacio Lula Da Silva, stated that Nigeria supports the BRICS position on the need to focus on collective, fair, and equitable global development.

Nigeria became the ninth partner country of BRICS in January 2025, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan. The 16th BRICS Summit in Kazan in October 2024 created the partner-country category.

President Tinubu said, “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.”

He noted that environmental degradation, climate crisis, and global healthcare inequalities were shared concerns pertinent to Africa.

“Africa has contributed the least to global emissions but suffers the most,” he added.

President Tinubu emphasised the need for a new path of justice, anchored in fairness, sustainable technology transfer, and accessible financing, so that emerging economies can fully benefit from various initiatives.

“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,” the president stated.

President Tinubu also said that addressing non-communicable diseases must remain a collective health concern.

“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 noted.

Ambassador Yusuf Tuggar, the minister of foreign affairs, and Mr Wale Edun, the finance minister, accompanied the president to the summit.

In exercising its pro tempore presidency of BRICS, the Brazilian government announced Nigeria’s formal admission as a partner country on January 17, 2025.

As the world’s sixth-most populous country and one of Africa’s major economies, Nigeria shares convergent interests with other BRICS members.

Nigeria plays an active role in strengthening South-South cooperation and reforming global governance, which are top priorities during Brazil’s current presidency.