Nigeria has officially assumed the chairmanship of the Intergovernmental Group of Twenty-Four (G-24), pledging to amplify the voices of developing nations and champion inclusive global economic reforms.

The country will formally take office as chair of the influential coalition on November 1, 2025, according to a statement released by the Central Bank of Nigeria (CBN) via its official X (formerly Twitter) handle on Wednesday.

Formed in 1971, the G-24 brings together developing nations to coordinate their positions on international monetary and development issues, ensuring that their collective interests are represented in global economic decision-making.

Representing Nigeria, CBN Governor Olayemi Cardoso, who spoke on behalf of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, reaffirmed Nigeria’s commitment to deepening collaboration among member states.

“Our focus will be on sustaining momentum in areas that matter most to our members,” Cardoso stated. “We look forward to working with members to advance our shared mission of inclusive growth, equity, and global stability.”

He added that Nigeria’s leadership would prioritise strengthening the G-24’s voice as a “formidable platform for representing the common interests of emerging and developing economies.”

The development comes as Nigeria continues to position itself as a leading advocate for economic inclusion and reform in global financial governance.

In 2024, the federal government had called for increased investment and stronger trade partnerships among G-24 member nations. Minister Wale Edun, at the time, highlighted Nigeria’s vast potential to attract foreign investment across key sectors including manufacturing, agriculture, and oil and gas.

Edun also underscored the country’s agricultural advantage, noting that Nigeria possesses one of the largest expanses of arable land in the world, second only to Brazil, a resource that could transform the nation from a food importer to a global food exporter.