– Funding to drive economic resilience
Mkpoikana Udoma
Port Harcourt — Nigeria has called for greater investment and coordinated action among Commonwealth nations to strengthen economic resilience, boost trade, and accelerate development across member countries.
Speaking at the Commonwealth Finance Ministers’ Meeting held on the sidelines of the 2025 World Bank and IMF Annual Meetings in Washington D.C., Nigeria’s Minister of State for Finance, Dr. Doris Uzoka-Anite, said Nigeria is committed to deepening trade and financial partnerships that align with sustainable growth and poverty reduction goals.
“With collective action and determination, the Commonwealth can unlock new pathways for prosperity,” she said. “Nigeria stands ready to work with our partners to mobilize resources, expand trade, and deliver meaningful economic opportunities to our people.”
The minister joined her counterparts from across the Commonwealth to deliberate on strategies to strengthen intra-Commonwealth trade, enhance infrastructure investment, and promote inclusive growth.
According to the Commonwealth Secretariat, intra-Commonwealth trade is already 21 percent cheaper compared to global averages and is projected to reach $2 trillion by 2030.
Uzoka-Anite emphasized that such potential can only be realized through renewed funding commitments and collaboration across sectors.
“We must ensure that our financing models are inclusive, sustainable, and targeted at addressing real economic challenges, from infrastructure deficits to job creation,” Uzoka-Anite said.
“For Nigeria, partnerships within the Commonwealth are central to building resilience in a rapidly changing global economy.”
The minister highlighted the importance of innovative financing instruments, including blended finance and public-private partnerships, to drive investment in key sectors such as energy, manufacturing, and digital infrastructure.
She also reiterated Nigeria’s support for the Commonwealth development agenda, describing it as a platform to lift millions out of poverty through coordinated economic policies and shared prosperity.
“The Commonwealth has a unique advantage, shared values, shared institutions, and a shared vision of growth,” she noted. “We must build on these strengths to create a more balanced and equitable global economy.”
The meeting, which gathered finance ministers and senior officials from across member states, underscored the need for fiscal sustainability, trade diversification, and climate-smart investments to foster long-term development.
The Commonwealth Secretariat said the discussions will feed into a comprehensive roadmap to strengthen trade, investment, and resilience across member economies ahead of the 2026 Commonwealth Heads of Government Meeting.
