Nigeria is reclaiming its place on the world’s financial stage this time, with strategy, stability, and substance.
At this week’s G-24 meetings held on the sidelines of the IMF/World Bank Annual Assemblies, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and the Minister of State for Finance, Dr. Doris Uzoka-Anite, represented the country with renewed confidence, signaling a disciplined and data-driven economic direction.
Governor Cardoso announced that Nigeria’s trade surplus has climbed to 6% of GDP, crediting a recalibrated macroeconomic framework that prioritizes transparency, fiscal restraint, and policy consistency. “Credibility compounds just like capital,” Cardoso noted. “Sound policies and transparency are now our real assets.”
The announcement comes as Nigeria prepares to assume the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) on November 1, 2025, succeeding Argentina. The new role positions Nigeria to influence the developing world’s agenda on debt relief, digital finance, and equitable global reforms, areas that are increasingly critical amid global economic uncertainty.
Under Cardoso’s leadership, the CBN’s “Cardoso Doctrine” has been widely recognized for its return to orthodox economic policy, including clearing a $7 billion FX backlog, unifying the naira’s exchange rate, and restoring fiscal-monetary alignment. These reforms have sparked investor confidence, revived portfolio inflows, and stabilized the naira under a transparent “willing-buyer, willing-seller” framework.
Meanwhile, Minister Uzoka-Anite reinforced Nigeria’s message of fiscal prudence and global cooperation, emphasizing that the country’s recovery must be “anchored in credibility, not convenience.”
Nigeria’s assumption of the G-24 chairmanship marks the culmination of nearly two years of economic repositioning, transforming the nation from a period of policy volatility into a model of institutional predictability.
As global delegates in Washington acknowledged, Nigeria’s shift toward stability and reform could serve as a blueprint for other emerging economies. For Governor Cardoso, the G-24 platform presents a defining opportunity to solidify Nigeria’s reputation as a disciplined and credible voice in shaping the future of global finance.
