Connect with us

News

WEF 2025: Nigeria, Global Leaders Target $29trn African Economy By 2050

Published

on

WEF 2025: Nigeria, Global Leaders Target $29trn African Economy By 2050

** As VP Shettima reaffirms Nigeria’s resolve to champion AfCFTA

By: Our Reporter

Vice President Kashim Shettima has joined other world leaders to push for the full implementation of the African Continental Free Trade Area (AfCFTA) with a target to boost Africa’s economy to $29 trillion by 2050.

He restated Nigeria’s readiness to spearhead the AfCFTA and take advantage of the market potential of the sector for digital transformation and economic integration of the African continent.

This is just as the President of the World Economic Forum (WEF), Børge Brende, pointed out the transformative potential of the AfCFTA, projecting that its full implementation could boost Africa’s economy to $29 trillion by 2050.

Senator Shettima and the global leaders declared their nations’ positions on Wednesday during a forum of Friends of AfCFTA on the sidelines of the ongoing 2025 annual meeting of the World Economic Forum (WEF) in Davos, Switzerland.

The Vice President, while addressing the forum tagged, “Forum Friends of AfCFTA: Turning Digital Trade into a Catalyst for Growth in Africa,” reaffirmed Nigeria’s commitment to AfCFTA as a vehicle for shared prosperity.

According to VP Shettima, Africa stands in a unique position to take advantage of global talent deficits, citing a Korn Ferry study that projects a global human talent shortage of more than 85 million people by 2030.

“By 2050, Nigeria’s population will surpass that of the United States, becoming the third most populous nation on earth at 440 million people,” he stated.

Citing Africa’s growing digital landscape, the VP said Nigeria’s technological strength is propelling it into the knowledge age.

“Today, we have 220 million telecom subscribers and 163 million internet users in Nigeria alone. This provides us with immense opportunities to empower our people. While our highest oil export earnings were $35 billion in 2011, India last year earned about $120 billion from outsourcing alone.

“The African Continental Free Trade Area is not only an economic arrangement but a bold statement of our shared destiny,” VP Shettima stated, adding that while Africa may have missed the agricultural and industrial ages, it is positioned to thrive in the post-industrial knowledge age.

On his part, the WEF President, Brende, while welcoming Vice President Shettima and other African leaders to the “Forum Friends of AfCFTA,” said Africa’s demographic advantage presents huge economic opportunities for the continent.

He noted that while most nations face workforce challenges, Africa’s young population positions it for unprecedented growth.

“If the Secretary General of the AfCFTA is given all the support he deserves, we can boost intra-African trade by a staggering 50%.

“As of today, $29 trillion represents one-third of the global GDP. Africa is such a growing continent, and one of its key promises is demography. The challenge now is creating new jobs for the youth population,” he stated.

Others who spoke at the event included the Presidents of South Africa, Cyril Ramaphosa; Botswana, Duma Boko; DR Congo, Felix Tshisekedi; Somalia, Hassan Sheikh Mohamud; Prime Minister of Egypt, Mostafa Madbouly; Confederation of African Football President, Patrice Motsepe; Former British Prime Minister, Tony Blair; amongst numerous global CEOs.

WEF 2025: Nigeria, Global Leaders Target $29trn African Economy By 2050

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Bandits loyal to Bello Turji kill several, abduct dozens in Sokoto communities despite peace negotiations claims

Published

on

Bandits loyal to Bello Turji kill several, abduct dozens in Sokoto communities despite peace negotiations claims

By: Zagazola Makama

Armed bandits loyal to notorious kingpin, Bello Turji, have carried out a series of attacks on communities in Sabon Birni Local Government Area of Sokoto State, leaving several people dead and dozens abducted between Wednesday, Aug. 14, and Friday, Aug. 16.

The attacks, according to residents, claimed the lives of villagers, a soldier, and a vigilante member, while the fate of many abducted persons remains unknown.

Eyewitnesses told Zagazola Makama that the bandits moved from one community to another, abducting residents and causing panic.

“On Wednesday, they laid an ambush for travellers along the Yankasuwa–Masawa road, stopped vehicles and abducted all passengers on board,” one survivor said.

On Thursday, the gunmen attacked Garki village, abducting 16 persons. One was killed, another managed to escape, while three cows were rustled.

The attacks continued on Friday when they raided Turtsawa and Faru villages near Sabon Birni, abducting 28 residents. Families of the missing persons are still searching for their loved ones.

The Movement for Social Justice, a civil society group in Sokoto, confirmed the incidents, noting that their monitoring indicated repeated attacks within four to five days despite peace negotiations claims. The attack is suspected to be orchestrated by Kallamu a top Loyal fighters of Bello Turji.

“Our reports show multiple attacks in succession. It is possible some incidents have gone unreported. We call on the Sokoto State Government to act swiftly and implement recommendations we have submitted to curb the atrocities of Turji’s fighters,” the group said in a statement.

The civil society organization offered prayers for the victims and appealed to government and security agencies to intervene urgently to stop what they described as “unrestrained brutality” in eastern Sokoto.

Last week, the Defence Headquarters in Abuja dismissed claims that Bello Turji had surrendered and accepted amnesty.

The Director of Defence Media Operations, Maj.-Gen. Markus Kangye, told journalists in Abuja that Turji had not surrendered and remained on the wanted list of the military.

Turji, who operates between Sokoto and Zamfara States, is accused of masterminding several deadly raids and mass abductions across the North-West.

Bandits loyal to Bello Turji kill several, abduct dozens in Sokoto communities despite peace negotiations claims

Continue Reading

News

Buni directs SEMA to provide flood victims with support

Published

on

Buni directs SEMA to provide flood victims with support

By: Yahaya Wakili

Yobe State Governor Hon. Mai Mala Buni CON COMN has directed the State Emergency Management Agency (SEMA) to provide the victims of the flood in the state with immediate support.

Governor Buni commiserated with the victims, adding that, “We have in the last few years been battling with the menace of the flood in some parts of the state, destroying houses and farmlands.

The governor directed the local government chairmen to liaise with SEMA to provide support to the victims.

He also called for cooperation from the communities in finding lasting solutions to the reoccurrence of floods in the affected areas.

Governor Mai Mala Buni also urged the council chairmen to liaise with the community leaders to move flood-prone communities to safer areas.

He directed the relocations of flood-prone communities to safer areas to avoid more casualties.

According to Governor Buni, “As the rainfall intensifies, people in communities in flood-prone areas are kindly requested to move to safer places because we can’t tell when the floods may occur.

Buni directs SEMA to provide flood victims with support

Continue Reading

Crime

Police arrest INEC officials, recover election materials in Taraba by-election

Published

on

Police arrest INEC officials, recover election materials in Taraba by-election

By: Zagazola Makama

The Police Command in Taraba has arrested some Independent National Electoral Commission (INEC) officials and recovered election materials allegedly diverted during the by-election for Karim Lamido I Constituency of the State House of Assembly.

Sources told Zagazola Makama that on Sunday that the arrests followed credible intelligence provided by party agents.

The sources said the incident occurred on Aug. 16 at about 2:20 p.m. when a team of policemen intercepted the suspects at a private residence in Angwan Sarkin Panya village.

Those arrested included Gideon Amos, 49, an Assistant Presiding Officer II assigned to Polling Unit 16, Angwan Yusuf Dogo, Bikwin Ward, and two others identified as Matthew Jayi, 47, and Tiasama Mathias Musa, 32.

The suspects allegedly diverted materials meant for three polling units PU 005 Gandara, PU 016 Angwan Yusuf Dogo, and PU 029 Angwan Sarkin Primary School — to the residence.

Items recovered from them included three ballot boxes, two BIVAS machines, 19 booklets and 20 pieces of ballot papers, two stamp pads with ink, one marker, and two result sheets.

The sources also disclosed that in the process of resisting the diversion, a police officer on election duty, PC Christian Garba, had his uniform forcibly removed by hoodlums who fled with it.

The sources added that voting had ended in most polling units and collation of results was in progress while investigations into the incident were ongoing.
End

Continue Reading

Trending

Verified by MonsterInsights