Nigeria’s Vice President, Kashim Shettima, has joined global leaders at the 2025 World Economic Forum (WEF) in Davos to push for the full implementation of the African Continental Free Trade Area (AfCFTA), projected to boost Africa’s economy to $29 trillion by 2050.
Shettima emphasised Nigeria’s commitment to spearheading AfCFTA efforts and leveraging its vast market potential to drive digital transformation and economic integration across Africa. Speaking during the “Forum Friends of AfCFTA: Turning Digital Trade into a Catalyst for Growth in Africa” session, he highlighted the agreement’s potential to usher in a new era of shared prosperity for the continent.
In his address, Shettima outlined Nigeria’s strategic position as Africa’s largest economy, boasting 220 million telecom subscribers and 163 million internet users. He pointed to the continent’s readiness to lead in the post-industrial knowledge era, contrasting Nigeria’s 2011 oil earnings of $35 billion with India’s $120 billion revenue from outsourcing in 2024.
Shettima also stressed the role of Africa’s growing population in addressing global talent shortages, citing a Korn Ferry study predicting an 85 million-worker deficit worldwide by 2030.
WEF President Børge Brende highlighted AfCFTA’s transformative potential, noting its capacity to increase intra-African trade by 50%. He also emphasized the importance of creating jobs for Africa’s youth to unlock the continent’s demographic dividend.
“As of today, $29 trillion represents one-third of global GDP. Africa’s growth trajectory and young workforce position it as a critical player in the global economy,” Brende stated.
Shettima described AfCFTA as more than an economic agreement, calling it “a bold statement of our shared destiny.” He acknowledged Africa’s historical delays in agricultural and industrial revolutions but expressed optimism about the continent’s opportunity to thrive in the digital age.
The session brought together notable leaders, including South African President Cyril Ramaphosa, Botswana President Duma Boko, DR Congo President Felix Tshisekedi, and Egyptian Prime Minister Mostafa Madbouly. Former British Prime Minister Tony Blair and Confederation of African Football President Patrice Motsepe also lent their voices to the call for AfCFTA’s implementation.
