By Adeyemi David
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has stressed the urgent need for Africa to accelerate industrialisation, create jobs, expand economic opportunities, and lift millions out of poverty while strengthening climate resilience.
Cardoso made the call during his keynote address at the Egypt 30by30 Programme organised by the Central Bank of Egypt in collaboration with the International Finance Corporation (IFC).
He noted that the initiative reflects a shared continental vision for a future that is resilient, climate-aware, and economically sustainable.
According to the CBN governor, Africa must prioritise decarbonisation alongside economic expansion, warning that climate risk has become a major financial risk with implications for sovereign ratings, inflation, food security, insurance markets, and fiscal sustainability.
“Resilience begins with credibility,” Cardoso said, adding that disciplined and transparent reforms in Nigeria are strengthening macroeconomic fundamentals and boosting confidence in the financial system.
He emphasized that trustworthy institutions, credible policies, transparent markets, and risk-aware innovation are critical to building durable financial systems.
He further stated that the CBN remains committed to advancing green finance, deepening cross-border cooperation, and working with partners across the World Bank Group to position Africa to withstand economic shocks and thrive in a rapidly changing global environment.
While Africa contributes the least to global climate change, Cardoso observed that the continent bears some of its highest costs.
However, he pointed to vast opportunities in renewable energy, biodiversity, a youthful population, and fast-evolving financial markets.
“To seize these opportunities, we must innovate for resilience not as isolated nations, but as a continent,” he said, urging deliberate collaboration to build sustainable and inclusive financial systems capable of supporting long-term growth.
