General
IMF Tasks Policymakers, Leaders on Trade, Debt, Climate Action
By Adedapo Adesanya
As policymakers and business leaders gather at the World Economic Forum in Davos, the International Monetary Fund (IMF) has tasked them to focus on trade, debt, and climate action, which are what matter most amid the current global reality.
In a new blog by its Managing Director, Ms Kristalina Georgieva, titled Confronting Fragmentation Where It Matters Most: Trade, Debt, and Climate Action, the lender called for more actions as the global economic slowdown, climate change, cost-of-living crisis, high debt levels, geopolitical tensions have made it even more difficult to address vital global issues.
She noted that, “Dislocations from trade and technological change have harmed some communities. Public support for economic openness has declined in several countries. And since the global financial crisis, cross-border flows of goods and capital have been levelling-off.”
The IMF chief further warned that trade tensions between the world’s two largest economies – the United States and China – have been rising amid a global surge in new trade restrictions, in addition to Russia’s invasion of Ukraine, which “has caused not only human suffering, but also massive disruptions of financial, food, and energy flows across the globe.”
This has been further compounded by supply chain disruptions during the COVID-19 pandemic have also increased the focus on economic security and making supply chains more resilient.
These and more could see countries lose up to 12 per cent of GDP, with lower-income consumers in advanced economies would lose access to cheaper imported goods while emerging and developing economies would no longer benefit from technology spillovers that have boosted productivity growth and living standards.
“Instead of catching up to advanced economy income levels, the developing world would fall further behind.
“Small, open-market economies would be hard-hit. Most of Asia would suffer due to its heavy reliance on open trade,” she noted.
To confront this, she presented three priorities – strengthening the international trade system, helping vulnerable countries with debt, and setting up climate action.
She said, “Strengthening the role of trade in the global economy begins with vigorous World Trade Organisation reform and by concluding WTO-based market-opening agreements. But finding agreement on complex trade issues remains challenging, given the diverse World Trade Organisation membership, increasing complexity of trade policy, and heightened geopolitical tensions.”
To support those with debt, she said the IMF, World Bank and Indian G20 presidency are working with borrowers and public and private creditors to quickly establish a global sovereign debt roundtable, where we can discuss current shortcomings and make progress to address them.
For climate action, she said a potential game-changer could be an international carbon price floor among major emitters. It would focus on carbon pricing or equivalent measures in an equitable process that would complement and reinforce the Paris Agreement.
By Adedapo Adesanya
President Bola Tinubu has said Nigeria would co-host Investopia with the United Arab Emirates (UAE) in Lagos in February, an initiative aimed at attracting global investors and accelerating sustainable investment inflows.
President Tinubu made this announcement on the sidelines of the 2026 Abu Dhabi Sustainability Week (ADSW), where Nigeria also concluded a Comprehensive Economic Partnership Agreement (CEPA) with the UAE to deepen trade and cooperation in renewable energy, infrastructure, logistics, and digital trade.
“We warmly invite our partners to join us and help build the next chapter of sustainable and shared prosperity for Nigeria, Africa, and the world, ” President Tinubu said.
He described CEPA as a historic and strategic agreement that will also enhance cooperation in aviation, logistics, agriculture, and climate-smart infrastructure, creating enduring opportunities for the people of the two countries, stating that Investopia will bring together investors, innovators, policymakers, and business leaders to transform opportunities into commitment and ideas into investment.
Mr Tinubu told the summit that Nigeria aims to mobilise up to $30 billion annually in climate and green industrial finance as it accelerates energy transition reforms and expands nationwide electricity access.
“The foundation of every modern economy is electricity. As an emerging economy in the Global South, we understand the delicate balance between industrialisation and decarbonisation, ensuring neither is pursued at the expense of the other.
”We are calling for a fundamental shift in the global financial architecture: a move away from the restrictive requirement of sovereign guarantees, which unfairly penalise developing economies.
”Instead, the focus should be on blended finance and first-loss capital mechanisms that allow private sustainable capital flows directly into our green projects without further straining national balance sheets,” he said.
According to President Tinubu, Nigeria has strengthened its climate governance framework with the adoption of a National Carbon Market Activation Policy and the launch of a National Carbon Registry.
He explained that these measures are aimed at improving transparency and investor confidence.
Mr Tinubu highlighted the Electricity Act 2023 as a central pillar of Nigeria’s energy reforms, noting that it enables decentralised power generation and distribution to underserved communities.
He added that Nigeria’s climate investment drive includes a $500 million distributed renewable energy fund backed by the Nigeria Sovereign Investment Authority, as well as a $750 million World Bank programme expected to expand clean electricity access to more than 17.5 million people.
President Tinubu reaffirmed Nigeria’s target of net-zero emissions by 2060, under its Energy Transition Plan, while pursuing industrial growth and universal energy access.
He invited foreign investors to partner in Nigeria’s lithium and critical minerals sector, stressing that the government prioritises local processing and value addition.
President Tinubu noted that Nigeria’s ongoing economic reforms are producing tangible results, including a 21 per cent growth in non-oil exports.
”These reforms, alongside wider fiscal and monetary measures, are delivering results. Non-oil exports have grown by 21 per cent, supported by a more diversified product base. Capital importation has risen, and Nigeria now has over 50 billion dollars in investment commitments across key sectors.
”We are ready to work with partners across the world to ensure that the next era of development is not only green and inclusive, but just and enduring,” he said.
By Adedapo Adesanya
The governments of Nigeria and Turkey have agreed to collaborate on enhancing bilateral relations, with a focus on visa facilitation, business mobility, and consular matters.
The agreement followed a meeting in Abuja between the Minister of Interior, Mr Olubunmi Tunji-Ojo, and the Turkish Ambassador to Nigeria, Mr Mehmet Poroy, during a courtesy visit.
Mr Tunji-Ojo highlighted the strong historical and cultural ties between the two countries and Nigeria’s commitment to a “smart, structured, and practical approach to international cooperation” that promotes people-to-people contact and legitimate business engagement.
“These ties provide a solid foundation for deeper collaboration,” he said.
Ambassador Poroy provided updates on improved visa facilitation for Nigerian businessmen traveling to Turkey, noting that “under the new arrangement, applications are processed locally, allowing verified businesspersons to benefit from faster processing timelines of about three to four days.”
He also raised concerns about Turkish businesspeople facing challenges when visiting Nigeria for trade fairs and investments, citing conflicting information about Nigerian visa arrangements. “We request written clarification to guide applicants accurately,” Poroy said.
A key proposal during the meeting was the inclusion of Turkey in Nigeria’s electronic visa (e-visa) system.
“The absence of a Nigerian visa office in Istanbul creates logistical challenges,” the Ambassador explained, adding that, “Including Turkey in the e-visa regime would significantly enhance business mobility for Turkish nationals.”
In response, Mr Tunji-Ojo assured that “denying visas to genuine Nigerian or Turkish businesspeople is not in the interest of either country.”
He emphasized the Ministry’s commitment to “transparency, dialogue, and continuous improvement in visa administration,” stressing Nigeria’s openness to legitimate investors and international business partners.
The discussion also addressed recognition of Nigerian marriage certificates by foreign missions. The Minister clarified that “all marriage certificates issued under Nigerian law are constitutionally valid and should not require additional verification.”
The Turkish Ambassador acknowledged the concern and committed to reviewing embassy procedures, as both parties agreed on the importance of continued engagement to strengthen bilateral cooperation.
By Adedapo Adesanya
The United States has delivered military supplies to Nigerian security agencies to bolster operations in several parts of the country.
This was disclosed in a post via X on Tuesday by the United States Africa Command (AFRICOM).
“The US forces delivered critical military supplies to our Nigerian partners in Abuja. This delivery supports Nigeria’s ongoing operations and emphasizes our shared security partnership,” the post read.
The development shows cooperation between both nations after US President Donald Trump previously threatened to invade the country over the killing of Christians.
Last November, the federal government dispatched a delegation to Washington, the US capital, aimed at strengthening security partnerships between the two countries and opening new avenues for cooperation.
Leading the delegation then was the National Security Adviser, Mr Nuhu Ribadu, who met with senior officials across the US Congress, the White House Faith Office, the State Department, the National Security Council, and the Department of War.
During the meeting, the Nigerian delegation refuted allegations of genocide in Nigeria, emphasising that violent attacks affect families and communities across religious and ethnic lines.
It also rejected the wrongful framing of the situation, saying such a portrayal would only divide Nigerians and distort the realities on the ground.
According to the presidency at the time, both countries agreed to implement a non-binding cooperation framework and to establish a Joint Working Group to ensure a unified and coordinated approach to the agreed areas of cooperation.
The Nigerian delegation also reaffirmed the government’s commitment to strengthening civilian protection measures.
On Christmas Day 2025, the US has launched strikes against militants linked to the Islamic State group (IS) in north-western Nigeria, where militants have sought to establish a foothold.
According to the Nigerian government, the operation was a joint operation and had nothing to do with a particular religion, adding that the strikes had been planned for quite some time using intelligence provided by the country.
The Nigerian government has long been fighting an array of jihadist groups, including Boko Haram and IS-linked factions, but largely in the North-East. However, some new groups are gaining footholds and the new supplies could help the Nigerian military continue its fight against terrorism.
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