Nigeria’s Finance Minister Wale Edun Assumes G-24 Leadership

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has officially taken over as the Chairman of the G-24, announcing a new agenda centred on inclusive and job-driven economic transformation.

The minister made this known in a statement issued on Thursday, noting that his leadership will steer the group toward “Optimising Resource Development for Inclusive, Job-Rich Economic Transformation.”

Edun explained that the new focus captures the broad spectrum of resources required for sustainable development across emerging economies.

According to him, “We will foster substantive dialogue and action on a comprehensive agenda aimed at dismantling structural barriers to resource mobilization and unlocking pathways to inclusive growth. This builds on the solid foundation laid by Argentina’s leadership.”

He said the G-24 must take deliberate steps to harness human capital, improve access to financing, expand productive infrastructure, and leverage natural resources more efficiently.

Edun raised concerns about widening global financial imbalances, warning that the world is nowhere near closing the huge funding gap needed to meet the Sustainable Development Goals (SDGs).

He said the annual financing deficit, which currently stands between $4 trillion and $5 trillion, must be addressed urgently if developing nations are to attain sustainable growth.

The minister also painted a stark picture of the demographic challenges ahead, noting that 1.2 billion young people are expected to enter the global workforce within the next 10 to 15 years.

However, projections show that only 400 million jobs will be available within that period.

Edun described the situation as a double-edged sword.

“This demographic trend is both a challenge and an opportunity. It underscores the need for us to strengthen macroeconomic stability, deepen diversification, and encourage private-sector-led growth so that our young people can contribute meaningfully to global development,” he said.

Edun urged member nations to move swiftly in building stable, diversified, and investment-friendly economies, stressing that only a strong private sector can create the volume of jobs needed to absorb the fast-growing youth population.

He added that tackling structural obstacles, boosting productivity, and prioritising innovation will be essential for achieving inclusive, broad-based economic progress.