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Vice President Kashim Shettima yesterday joined other African leaders to push for the full implementation of the African Continental Free Trade Area (AfCFTA) agreement, with a target to boost the continent’s economy to $29 trillion by 2050.
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This was the position of the leaders during a forum, tagged ‘Friends of AfCFTA’ held on the sidelines of the ongoing annual meeting of the World Economic Forum (WEF) in Davos, Switzerland.
At the event, Shettima reiterated Nigeria’s readiness to spearhead the AfCFTA and take advantage of the market potential for digital transformation and economic integration of the continent.
“By 2050, Nigeria’s population will surpass that of the U.S. becoming the third most populous nation on earth at 440 million people. 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,” he stated adding that Nigeria’s technological strength was propelling it into the knowledge age.
Borge Brende, the WEF president, said its demographic advantage presents huge economic opportunities for Africa.
Brende, while welcoming African leaders to the forum, pointed out the transformative potential of the AfCFTA — projecting that its full implementation could boost Africa’s economy to $29 trillion by 2050.
Brende said while most nations face workforce challenges, Africa’s young population positions it for unprecedented growth.
