President Bola Tinubu has called for urgent reforms to the global financial system.

He argued that existing economic structures continue to hinder Africa’s industrialisation and long-term development.

Tinubu made the remarks at the Africa Forward Summit held at the Kenyatta International Convention Centre in Nairobi, Kenya, where he led Nigeria’s delegation of government officials, diplomats, and business leaders.

The summit was jointly hosted by Emmanuel Macron and William Ruto, and attracted leaders from more than 30 countries, including António Guterres and Mahamoud Ali Youssouf.

According to a statement issued by the president’s media aide, Bayo Onanuga, Tinubu said Africa must move beyond exporting raw materials and focus on building industrial economies capable of competing globally.

He argued that the current international financial and trade system limits access to affordable capital and reinforces inequality in global commerce.

“Last September, from the podium of the United Nations General Assembly, Nigeria warned that the international system must reform or risk irrelevance. We spoke not only of the Security Council but of the financial and trade structures that quietly de-industrialise our nations. The evidence is before us.

“Despite decades of independence, Africa’s share of global manufacturing value added remains below 2 per cent,” Tinubu said.

The president also highlighted ongoing economic reforms introduced by his administration, including fuel subsidy removal, exchange rate unification, and banking sector recapitalisation, stating that measures were necessary sovereign decisions aimed at stabilising the economy, improving investor confidence, and strengthening macroeconomic indicators.