By Muhammad Mamman
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has called for stronger collaboration among African nations to build resilient economies anchored on green finance and inclusive, climate-smart development.
Speaking at a high-level forum on sustainable growth, Cardoso urged policymakers, financial institutions and development partners across the continent to deepen cooperation in tackling climate risks, strengthening financial systems and unlocking sustainable investments.
“Africa must act collectively to safeguard its economies against external shocks while positioning itself for long-term, sustainable prosperity,” Cardoso said. “This requires coordinated policies, innovative financing mechanisms and a firm commitment to inclusive growth.”
He stressed that climate change poses significant risks to Africa’s economic stability, food security and infrastructure, warning that fragmented responses would undermine progress. Instead, he advocated for harmonised regulatory frameworks, stronger regional financial integration and the mobilisation of green capital to fund renewable energy, climate adaptation and sustainable infrastructure projects.
Cardoso noted that central banks have a critical role to play in promoting financial stability while supporting environmentally responsible investments. He highlighted the importance of developing robust green finance taxonomies, enhancing risk management frameworks and fostering transparency in climate-related disclosures.
The CBN governor also underscored the need for inclusive development strategies that ensure small and medium-sized enterprises, women and vulnerable communities benefit from climate financing initiatives.
Analysts say Cardoso’s remarks reflect a growing consensus among African policymakers that climate resilience and economic stability are deeply interconnected. With many African economies grappling with inflationary pressures, currency volatility and climate-induced disruptions, coordinated continental action is increasingly seen as essential.
Cardoso reaffirmed Nigeria’s commitment to working with regional institutions and global partners to drive sustainable growth, adding that Africa’s demographic strength and natural resources position it to become a global leader in green transformation — if countries act decisively and together.
