Jack-Rich Seeks Inclusion Of Nigeria, AU In G-20 For Accelerated Economic Growth in Africa

The President/Founder of BelemaOil, Nigeria’s indigenous oil company, Tein Jack-Rich CON has called on the United States to fast-track the process to admit Nigeria and African Union into the membership of group of 20 (G-20) to enhance a regional development.

The business mogul made the call recently at the sideline of the US-Africa Leaders Summit in Washington D.C, United States during an engagement with US association of Majors.

Jack-Rich who was in Washington D.C in one of the sub section with US mayors told world leaders that inclusion of AU and Nigeria in G-20 is one thing Africa needs at this moment.

“What we need now is your collaboration, I want to use this medium to appeal to you that, one good thing you will do for Africa is to have the African Union as part of G-20 and Nigeria.

“Another thing I also want to appeal for is the admission of Nigeria in G-20 because Nigeria is about 19.3 per cent of Africa’s total GDP. That’s a strong economy.

“I’m in the energy business, one thing that we need now is technological collaboration” he said.

According to Jack-Rich, technological collaboration from developed countries can enable Africa to build a world class business hub that will engage the huge population of Africa.

He said industries are critical in generating jobs to gainfully engage the growing population of productive age bracket, calling for assistance in technology that will help Africa build industrial value chain.

The Group of Twenty (G20) comprises 19 countries — Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom and United States and the European Union.

The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.

US President, Joe Biden had during the summit announced support for the African Union joining the Group of 20 (G20), a global forum for major economies, as the United States seeks to build stronger relations with African nations.

Biden said African leadership and innovation were critical to addressing some of the world’s most pressing challenges.

That is why his administration has expressed support for reforming the United Nations Security Council to include an African representative, as well as giving the African Union a permanent place at the G20, Biden said.

Biden said African Union to the G20 would give African nations a bigger say on that issue and other key world concerns, such as climate change and the response to COVID-19.

 

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