Nigeria Takes Helm of G-24, Pledges to Champion Developing Nations’ Economic Interests

Nigeria has been appointed as the new Chair of the Intergovernmental Group of Twenty-Four (G-24), marking a significant milestone in the country’s international economic diplomacy. The nation will officially assume the leadership role on November 1, 2025, with a promise to amplify the voices of developing countries and push for inclusive global economic reforms.

The announcement was made on Wednesday through a series of posts on the Central Bank of Nigeria’s (CBN) official X handle. Established in 1971, the G-24 unites developing nations to coordinate positions on international monetary policy, financial stability, and development financing, ensuring that their collective perspectives influence global economic decisions.

Representing the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, CBN Governor Olayemi Cardoso reaffirmed Nigeria’s commitment to making the G-24 a stronger platform for advancing inclusive growth and global stability. “Our focus will be on sustaining momentum in key areas that matter most to our members,” Cardoso said. “We are determined to ensure the G-24 remains a formidable voice for emerging and developing economies.”

It will be recalled that in 2024, Nigeria urged member nations to strengthen trade and investment partnerships. Minister Edun had emphasized the country’s vast economic potential—particularly in manufacturing, agriculture, and oil and gas—and noted that Nigeria holds one of the world’s largest expanses of arable land, second only to Brazil, positioning it to transition from a food importer to a global food exporter.