Nigeria has assumed the chairmanship of the Intergovernmental Group of Twenty-Four (G-24), a key coalition of developing nations advocating for fair representation in global economic governance.
The country will formally take office on November 1, 2025, with a pledge to amplify the voices of emerging economies and drive inclusive global economic reforms.
The development was announced by the Central Bank of Nigeria (CBN) in a series of posts shared via its official X (formerly Twitter) handle on Wednesday.
Formed in 1971, the G-24 brings together developing nations to coordinate and promote shared positions on international monetary policy and development financing, ensuring their collective voice is heard in major global economic decision-making platforms.
Speaking on the new role, CBN Governor Olayemi Cardoso, representing the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, reaffirmed Nigeria’s commitment to strengthening the G-24 as a catalyst for inclusive dialogue and reform.
“Our focus will be on sustaining momentum in areas that matter most to our members,” Cardoso stated. “We look forward to working with member countries to advance our shared mission of inclusive growth, equity, and global stability. We are determined to ensure that the G-24 continues to be a formidable platform for representing the common interests of emerging and developing economies.”
This milestone follows Nigeria’s earlier advocacy at the 2024 G-24 meetings, where the federal government called for increased investments and trade partnerships among member nations.
At the time, Wale Edun underscored Nigeria’s vast economic potential, highlighting opportunities in manufacturing, agriculture, and oil and gas, as well as the country’s extensive arable land, second only to Brazil. He noted that this agricultural capacity positions Nigeria to transition from being a food importer to a major global food exporter.
With its new leadership role, Nigeria is poised to play a central part in shaping global economic policies that reflect the priorities and aspirations of developing countries.
