Nigeria is set to assume the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) on November 1, 2025, taking over from Argentina. This development was announced by the Central Bank of Nigeria via its official social media handle. The G-24, established in 1971, is a forum for developing nations to coordinate their positions on international monetary policy and development financing, ensuring their collective voice is heard in global economic decision-making.
The chairmanship transfer comes after Nigeria’s federal government called for increased investments and trading partnerships with G-24 member countries in 2024. As the new chair, Nigeria will unveil its Work Programme following proper consultation. The G-24 plays a crucial role in promoting inclusive dialogue and reform in the global economy, and Nigeria’s leadership is expected to strengthen the group’s voice.
Speaking on behalf of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the CBN Governor, Olayemi Cardoso, reaffirmed Nigeria’s commitment to advancing the G-24’s mission of inclusive growth, equity, and global stability. The governor emphasized the importance of sustaining momentum in areas that matter most to member countries and looks forward to working with members to achieve these goals.
Nigeria’s assumption of the G-24 chairmanship is significant, as it provides an opportunity for the country to play a more prominent role in shaping global economic policies and promoting the interests of emerging and developing economies. With its new leadership role, Nigeria is determined to ensure that the G-24 remains a formidable platform for representing the common interests of its member countries. As the global economy continues to evolve, Nigeria’s chairmanship of the G-24 is expected to contribute to more inclusive and equitable economic decision-making.
