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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
News
Three Fulani women abducted by gunmen in Kwara

Three Fulani women abducted by gunmen in Kwara
By: Zagazola Makama
Atleast three Fulani women were abducted by armed hoodlums who attacked Awi village, a Fulani/Hausa camp near Omu-Aran, under sporadic gunfire.
Sources disclosed that the incident occurred on June 29 at about 1:00 a.m. and was reported later that morning by one Danbare Sarki Fulani, a community leader.
The victims were identified as: Halimi Kadiri, Gaaje Yusuf, and a nursing mother Maria Isah. All the victims are said to be of Fulani Bororo origin.
Upon receipt of the report at about 10:00 a.m., a team security operatives and members of the local vigilante group was immediately mobilised to the scene and began combing the nearby forests,” the statement said.
Additionally, the Anti-Kidnapping Squad (AKS) team attached to Omu-Aran, alongside neighbouring Divisional Police Officers (DPOs) and local vigilantes, have launched a coordinated search-and-rescue operation aimed at locating the victims and apprehending the perpetrators.
Police sources confirmed that investigation is ongoing and assured the public of continued efforts to ensure the safe rescue of the abducted women and restoration of peace in the area.
Three Fulani women abducted by gunmen in Kwara
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Troops neutralise 2 ISWAP insurgents planting IEDs on Borno highway

Troops neutralise 2 ISWAP insurgents planting IEDs on Borno highway
By: Zagazola Makama
The Nigerian Army troops of Sector 2, Operation Hadin Kai, have neutralised two suspected fighters of the Islamic State West Africa Province (ISWAP) attempting to plant Improvised Explosive Devices (IEDs) along a critical highway in Borno State.
Intelligence sources told Zagazola Makama on Monday that the ambush operation occurred along the strategic Trans-Timbuktu (TT) corridor, extending towards the Katarko–Goniri axis.
The sources said that the operation was conducted following credible intelligence on the movement of a terrorist IED-laying party along the route.
“During the encounter, troops engaged the terrorists in a brief but decisive firefight, killing two insurgents and forcing others to flee.
“Items recovered at the scene included two AK-47 rifles, several magazines, a motorcycle, and materials intended for constructing IEDs. Equipment designed to cut through tarred roads for the concealment of explosives was also found.
“The swift response by the troops not only thwarted a potential attack on military and civilian vehicles but also helped to secure a major supply route frequently targeted by terrorists,” a security source said.
The military has since intensified patrols and route clearance operations in the general area to prevent further attempts by the insurgents.
Troops neutralise 2 ISWAP insurgents planting IEDs on Borno highway
News
Bandits kill two, abduct four in Katsina community

Bandits kill two, abduct four in Katsina community
By: Zagazola Makama
Armed bandits have killed two persons and abducted four others in a late-night attack on Gidan Tamba village in Kankara Local Government Area of Katsina State.
Zagazola Makama learnt that the incident, which occurred on June 29 at about 10:45 p.m., threw the quiet rural community into panic as the gunmen stormed the area and opened fire indiscriminately.
One of the victims, Ashiru Shafiu, aged 60, was reportedly shot dead on the spot, while another resident, Suleiman Yusuf, also 60, collapsed during the raid and later died of cardiac arrest. Both were rushed to the General Hospital in Kankara, where they were confirmed dead.
In addition to the fatalities, four residents were abducted during the attack. They have been identified as: Kazeem Nuhu, Shafiu Aliyu, Rama Dan Mallam and Ummah Abdulwahab.
The attackers reportedly arrived on motorcycles and disappeared into the surrounding forest with the kidnapped victims.
Bandits kill two, abduct four in Katsina community
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