President Bola Tinubu’s spokesman Ajuri Ngelale said on Sunday that the government was weighing the risks and benefits of membership before making a decision on whether to submit an application.

“While Nigeria's membership of the G20 is desirable, the government has embarked on wide-ranging consultations with a view to ascertaining the benefits and risks of membership," Mr Ngelale said in a statement.

President Tinubu has travelled to Delhi to attend the group's summit at the invitation of the Indian Prime Minister Narendra Modi.

Mr Ngelale earlier said that Mr Tinubu’s attendance at the G20 summit was to seek foreign investment in Nigeria, mobilise investors and strengthen bilateral agreements with other countries.

Currently, South Africa is the only African member of the G20.