Nigeria has renewed calls for stronger international cooperation to address rising global economic pressures, as the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, chaired the Intergovernmental Group of Twenty-Four (G24) Ministerial Meeting on the sidelines of the World Bank Group Spring Meetings.

The meeting took place against the backdrop of heightened global uncertainty, driven by escalating geopolitical tensions, including conflicts in the Middle East, which continue to disrupt energy markets, fuel inflation, and weaken global growth prospects.

Under Nigeria’s leadership, the G24 advanced a unified position urging enhanced multilateral support for developing economies. Key proposals include increased concessional financing, faster and more efficient debt restructuring processes, and stronger crisis-response mechanisms from the International Monetary Fund and the World Bank Group.

The initiative underscores growing concerns over the vulnerability of developing countries to external shocks and the need for coordinated global action to safeguard economic stability and growth.