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WEF 2025: Nigeria, Global Leaders Target $29trn African Economy By 2050
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
Police officer dies, 17 injured in auto crash along Potiskum–Bauchi road
By: Zagazola Makama
A senior police officer has died while 17 other passengers sustained injuries following a road accident along the Potiskum–Bauchi highway in Yobe State.
Sources said the crash occurred at about 3:15 p.m. on Feb. 21 near the bye-pass roundabout area of PKM on the outskirts of Potiskum.
The vehicle, a Toyota Hummer Bus belonging to Borno Express and conveying 18 passengers from Kaduna to Maiduguri, reportedly lost control after the rear tyre rim on the passenger side suddenly detached.
According to the sources , the driver veered off the road into a bush, resulting in fatal and multiple injuries.
One of the passengers, ACP Abubakar Ibrahim Balteh, 45, attached to the Borno State Police Command, sustained a severe head injury and died on the spot.
Two male and two female passengers escaped unhurt, while 13 others suffered serious injuries of varying degrees.
The injured victims and the deceased were evacuated to the General Hospital Potiskum for treatment and autopsy.
Police officer dies, 17 injured in auto crash along Potiskum–Bauchi road
Troops of Operation FANSAN YANMA humiliate Lakurawa terrorists
By: Zagazola Makama
Troops of Operation FANSAN YANMA have neutralised several of suspected Lakurawa terrorist elements following a failed attack on Dadinkowa community in Kebbi State.
Local intelligence sources said the armed group attempted to raid a local market in the early hours of Sunday and blocked a major access road into the community to facilitate the operation.
The sources disclosed that security forces responded swiftly after receiving distress alerts and engaged the attackers in a fierce gun battle, forcing them to retreat.
According to the sources, several of the assailants were neutralised during the encounter, while others escaped with suspected gunshot wounds.
The attempted market raid was successfully foiled, preventing potential civilian casualties and destruction of property.
Troops have since intensified patrols and clearance operations around Dadinkowa and adjoining areas to track fleeing elements and stabilise the security environment.
Troops of Operation FANSAN YANMA humiliate Lakurawa terrorists
One killed as suspected IPOB/ESN militants attack Ogbakoba Market in Anambra
By: Zagazola Makama
A 15-year-old boy was killed while security operatives repelled an attack by suspected members of the proscribed IPOB/ESN militia at Ogbakoba Market Arena in Anambra State.
Sources said the incident occurred on Feb. 21 at about 1:40 p.m., when a group of armed hoodlums emerged from a dense forest camp at Amiyi and opened sporadic fire at market-goers, apparently attempting to kidnap or rob residents.
A joint task force patrol team stationed at Amiyi responded swiftly, engaging the attackers in a fierce gun duel that forced them to retreat into the forest with bullet wounds. The injured boy was rushed to the village hospital but was confirmed dead on arrival. His body was deposited in the morgue for autopsy and preservation.
The sources added that later the same day at about 8:30 p.m., the armed group resurfaced near the community, snatching a shuttle bus with registration number HAL 987 XA and a GSM phone belonging to one Mr. Kinsley Iwunze of Okpotuno Odekpe, Ogbaru LGA.
Security operatives immediately dispatched teams to the scene, but the hoodlums had fled. Authorities said an aggressive manhunt was ongoing to apprehend the fleeing suspects.
One killed as suspected IPOB/ESN militants attack Ogbakoba Market in Anambra
Police officer dies, 17 injured in auto crash along Potiskum–Bauchi road
Troops of Operation FANSAN YANMA humiliate Lakurawa terrorists
One killed as suspected IPOB/ESN militants attack Ogbakoba Market in Anambra
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