The Governor of the Central Bank of Nigeria, Mr. Yemi Cardoso, has stressed that Africa must accelerate growth, industrialisation and job creation while simultaneously tackling climate challenges and strengthening resilience across its economies.
Cardoso made the call while speaking at the Egypt 30by30 Programme organised by the Central Bank of Egypt in collaboration with the International Finance Corporation, a member of the World Bank Group.
According to him, the collective aspiration driving the 30by30 initiative reflects a shared continental resolve to build a future that is economically sustainable, climate-conscious and resilient to shocks.
He noted that through deeper collaboration with Egyptian authorities and global partners, the apex bank remains committed to strengthening a risk-aware financial system, promoting green finance, enhancing cross-border cooperation and positioning African economies to withstand global disruptions.
The CBN governor maintained that credibility remains the cornerstone of resilience, stressing that disciplined and transparent reforms are already reinforcing Nigeria’s macroeconomic fundamentals and restoring confidence in the financial system, thereby laying a solid foundation for sustainable growth.
He emphasised that resilient financial systems must be anchored on trustworthy institutions, sound policies, transparent markets and innovation guided by risk consciousness.
Cardoso warned that climate risk has become a financial risk with wide-ranging implications for sovereign ratings, cost of capital, inflation, food security, insurance markets and fiscal stability. He observed that although Africa contributes the least to global emissions, it suffers disproportionately from climate impacts.
He, however, pointed out that the continent holds vast opportunities in renewable energy, biodiversity, youthful demographics and rapidly evolving financial markets, noting that these advantages can be harnessed through coordinated continental action.
The engagement, he added, highlights a defining reality that Africa’s financial future will depend on balancing economic stability with sustainability, insisting that deliberate cooperation and transparency among nations will be critical to building inclusive systems capable of thriving in the decades ahead.
