Nigeria's Bold Vision At The World Economic Forum

Vice President of Nigeria, Kashim Shettima has made a strong appearance at the 2025 World Economic Forum in Davos, and it is not just another political show. It is a turning point for Africa – a continent of great promise, but also a continent of great restrictions.

The main theme of Shtayta’s speeches is very clear: Africa is no longer a passive subject of the world’s economic discourse, but an independent and significant player on the world stage, which is able to determine its future.

This is where Shettima’s reference to Napoleon Bonaparte’s comment on China waking up becomes rather pertinent.

At the centre of this narrative is the African Continental Free Trade Area (AfCFTA), which has the potential to change the continent’s economic structure. The expected growth of the African economy to $29 trillion by 2050 is not a dream but a specific plan. Today, the continent has the youngest population in the world and is gradually becoming a new talent pool for the global market, which gives Africa a unique chance.

The demographic dividend is especially attractive. By 2050, Nigeria is expected to become the third most populous country in the world, with 440 million people. This huge youth population is both a threat and a great opportunity for economic change.

The current technological environment in the continent is encouraging and Nigeria for instance has 220 million telecom subscribers and 163 million internet users – a good starting point for the development of the digital economy.

One of the most important issues that have been discussed at the Davos forum was the issue of workforce. While most of the global economies face the problem of population age, Africa has its demographical advantage. The Korn Ferry study which predicted a global talent shortage of more than 85 million people by 2030 only presents Africa as the solution to this problem.

However, achieving this potential requires more than just passionate declaration. Shettima’s honest assessment of the current status, combined with his common sense approach to the development of infrastructure – such as the coastal highway from Calabar to Lagos and the giant West African gas pipeline – shows a clear understanding of the barriers that have previously prevented African development.

What makes the Vice President’s position on the collaboration with international partners even more excellent is that he does not want to rely on aid. He wants to build dignified, equal partnerships that respect the strength of Africa. He stated that he would ‘rather be poor and proud’ and negotiate from a position of equality, which is a philosophical change from begging to planning.

In the view of this newspaper Nigeria as the largest African economy and the most populous country in the continent has an important role to play in this continental resurgence.

The country’s focus on digitalization, technology, and stochastic investment in education and agriculture makes it a likely trendsetter for the rest of Africa.
The African Atlantic Gas Pipeline is another example of this strategic vision. The project at the same time solves several problems: it provides a solution to European energy concerns, creates jobs and wealth in several countries and uses Africa’s resources for its development.

In the same way, the recharging of Lake Chad is not only an environmental project. It can also expand the lake from its present 2,000 sq. km to its historical 25,000 sq. km, which will address issues of food security, power generation, and regional stability.

Nevertheless, the situation is still rather adverse. Geopolitical tensions, internal wars, and the lack of development are still a problem for the continent. The other challenges of corruption, weak institutions, and unequal development should not be ignored.

In our opinion, for Africa to truly achieve its potential, countries have to focus on institutional reforms, the development of human capital, and the formation of business and enterprise friendly environments. The continent can not be a spectator in the world economic arena.

Some of the Davos interventions of Shettima show the way forward as far as the blueprint is concerned: Taking advantage of demographic dividends, embracing new technologies, promoting regional integration in Africa, and presenting a united strong Africa to the world.

The negative perception of Africa that has persisted over the years is being erased. As Shettima rightly put it, in the Chinese language, the word crisis – ‘Wei Ji’ has two meanings; ‘Wei’ which means danger and ‘Ji’ which means chance. This perception is entirely consistent with the present state of Africa – it focuses on the negative while also viewing it as an opportunity for change.

Global challenges are interconnected and therefore need common solutions. Multilateralism is not just a political correctness but a strategic necessity. Africa with its resources, strategic location and young population can be the engine of the world economic restructuring.

In this light, as Africa approaches this crossroads, the words of late Nigerian leader Murtala Mohammed are more timely than ever: Africa has indeed come of age. The international community should be ready to deal with an African continent that is no longer begging for permission to be part of the global economic system.