Minister of Finance and Coordinating Minister of Economy, Mr. Wale Edun, has formally assumed the Chairmanship of the Group of 24 (G-24), announcing that the group will focus on “Optimising Resource Development for Inclusive, Job-Rich Economic Transformation” under his leadership.

In a statement issued on Thursday, Edun explained that the chosen theme reflects all critical forms of resources including human, financial, physical, and natural needed for sustainable economic progress.

He laid out the path forward for the group, stating: “We will foster substantive dialogue and action on a comprehensive agenda aimed at dismantling structural barriers to resource mobilization and unlocking pathways to inclusive growth. This builds on the solid foundation laid by Argentina’s leadership.”

Edun also emphasized the urgent need to correct global financial imbalances. He highlighted the enormous scale of the financing gap required to meet global development objectives, noting that the estimated annual financing gap required to meet the Sustainable Development Goals stands at a staggering $4 trillion to $5 trillion.

Furthermore, he drew attention to significant demographic pressures globally, warning that about 1.2 billion young people are expected to enter the global labour market over the next 10 to 15 years, competing for only 400 million available jobs.

While describing this demographic trend as both a challenge and an opportunity, Edun urged member countries to strengthen macroeconomic stability, pursue economic diversification, and encourage private-sector-led growth to create the necessary space for young people to contribute meaningfully to global economic development.