Nigeria has taken over the chairmanship of the Intergovernmental Group of Twenty-Four (G-24), with a commitment to amplify the voices of developing nations and promote inclusive global economic reforms. The country will formally assume office on November 1, 2025.
The development was announced by the Central Bank of Nigeria (CBN) in a series of posts on its official X handle on Wednesday.
Formed in 1971, the G-24 brings together developing nations to establish unified positions on global monetary policy and development financing, ensuring their collective interests are represented in international economic decision-making.
Speaking on behalf of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, CBN Governor Olayemi Cardoso reaffirmed Nigeria’s commitment to strengthening the group’s influence and promoting equitable growth.
“Our focus will be on sustaining momentum in areas that matter most to our members. We look forward to working with member countries to advance our shared mission of inclusive growth, equity, and global stability,” Cardoso said.
He further emphasized that Nigeria would work to ensure the G-24 remains a strong platform for representing the common interests of emerging and developing economies.
In 2024, the federal government had called for increased investment and trade partnerships among G-24 member countries, highlighting Nigeria’s vast potential in manufacturing, agriculture, and the oil and gas sectors.
Edun had also noted that Nigeria possesses one of the world’s largest expanses of arable land—second only to Brazil—underscoring its potential to transition from a food importer to a leading global food exporter.
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