Nigeria's Vice President, Kashim Shettima, has called for the full implementation of the African Continental Free Trade Area (AfCFTA), emphasizing its transformative potential for Africa's economic future. Speaking during the World Economic Forum (WEF) held in Davos, Switzerland, Shettima highlighted that the AfCFTA could propel Africa's economy to an impressive $29 trillion by 2050.
In his address, Shettima reaffirmed Nigeria's dedication to unlocking the opportunities presented by the free trade agreement, which is expected to foster economic growth and shared prosperity across the continent. He also pointed to Nigeria's unique position as a rising digital powerhouse, supported by its rapidly growing population and expanding technological infrastructure, including 163 million internet users—a figure that continues to climb.
Furthermore, the Vice President stressed Africa's potential to fill global talent gaps, thanks to its vast and youthful population. He described this demographic advantage as a critical factor in Africa's ability to redefine its economic trajectory in the current knowledge-driven global economy.
President of the World Economic Forum, Børge Brende, echoed Shettima's views, noting Africa's demographic strength as a major asset. Brende remarked that the AfCFTA could serve as a transformative initiative, with the ability to boost intra-African trade by up to 50%. He emphasized that such progress would not only enhance regional cooperation but also position Africa as a key player in the global economic order.
By championing the AfCFTA's full implementation, Nigeria positions itself as a leader in the continent's collective push for economic integration. These efforts, if realized, could unlock unprecedented opportunities for trade, innovation, and development, creating a brighter future for African nations and their people.
