Tinubu heads to France for financial pact summit — first official trip as president

President Bola Tinubu will on Tuesday depart for Paris, France to attend the summit for a new global financial pact.

The two-day summit seeks to explore “opportunities to restore fiscal space to countries that face difficult short-term financial challenges”.

Dele Alake, the president’s special adviser on communications and strategy, announced the proposed trip in a statement on Monday.

According to Alake, the pact prioritises vulnerable countries for financial support owing to the devastating impact of climate change, the energy crisis and COVID-19.

Alake added that Tinubu will be accompanied to the summit by members of the presidential policy advisory council and senior government officials.

He is expected to return to the country on Saturday.

“The President will participate in the two-day Summit, June 22 and 23, that looks at opportunities to restore fiscal space to countries that face difficult short-term financial challenges, especially the most indebted countries,” the statement reads.

“The summit will mobilise innovative financing for countries vulnerable to climate change; foster development in low-income countries, and encourage investment in “green” infrastructure for the energy transition in emerging and developing economies.

“President Tinubu and the other global leaders, multilateral institutions, financial experts and economists will take a more holistic look at the recovery of economies from the impact of the COVID-19 pandemic, and rising cases of poverty, with a view to providing access to finance and investment that will leverage inclusive growth.”

The visit to France will be Tinubu’s first official trip abroad since he was sworn in as Nigeria’s president on May 29.