Vice President Kashim Shettima urged global investors to harness the immense opportunities in Nigeria and across Africa, emphasizing that the continent is poised for economic transformation.
He spoke during a forum entitled: “Roadmap to Co-create Investment Opportunities for Africa’s Frontier Markets,” at the ongoing annual meeting of the 2025 World Economic Forum (WEF) in Davos, Switzerland.
At the session which was co-chaired by Managing Director of WEF, Mirek Dusek, and chaired by Senior Vice President, African Development Bank (AfDB) Group, Marie-Laure Akin Olugbade, discussions focused on the Humanitarian and Resilience Investing Roadmap for Africa.
He told the forum that the tales they hear about the country and the African continent as a whole are really not that of doom and gloom as being painted by doomsday proponents.
Vice President Shettima said Nigeria is poised to invade the global business platform with modernisation and robust investments, assuring that President Bola Tinubu, a seasoned chartered accountant, is working to make the nation an investment destination in Africa.
According to a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, the VP said: “For 20 years, I have been in the Nigerian banking industry. I was a general manager in Nigeria’s largest bank, Zenith Bank. I grew up in that ecosystem.
“The President himself is a seasoned chartered accountant. So, I believe that Nigeria is ready for business, Nigeria is ready to embrace the path of modernization with very robust investment.”
Acknowledging however that the nation may still have certain deficits, the VP said Nigeria is looking up to the African Continental Free Trade Area (AfCFTA) to address the challenges.
He said: “We are having a huge deficit but we are looking forward to the AfCFTA and that involves investing in infrastructure for instance the coastal highway from Calabar to Lagos is the largest single investment in Africa. We are building corridors to the North.
“We have the West African gas pipeline. We are thinking ahead of time akin to the Belt and Road Initiative. We are partnering with 14 African countries to invest in gas infrastructure down to Morocco.”
Shettima insisted that Africa is not all about tales of doom and gloom, maintaining that the continent has woken up from its slumber.
Likening Napoleon Bonaparte’s opinion about China to the case of Africa, the VP said: “So, Your Excellencies, ladies and gentlemen, the stories you hear about Africa are not that of doom and gloom. From DRC to Somalia, South Africa, Egypt, Ethiopia, Ghana, and Cote d’Ivoire, Africa is waking up from its slumber.
“I remember what Napoleon Bonaparte said about China, he said: “China is a sleeping giant but when she wakes up, she will rattle the world”. So, Africa has woken up and we will take our rightful place in the comity of nations because as I said earlier, the trajectory of global growth is facing Africa. We are the youngest continent.”
Also drawing a leaf from the late Nigerian Head of State, Gen. Murtala Mohammed, Shettima said Africa has come of age and can no longer be treated like an adolescent.
“I want to quote Murtala Mohammed – a Nigerian military leader at an extraordinary summit of the OAU, about 50 years ago. He said: “Africa has come of age, it is no longer under the orbit of any extra-continental power, and it shall no longer take orders from any country, however powerful,” he concluded.
Meanwhile, in a show of African leadership collaboration at WEF in Davos, Shettima, joined South African President, Cyril Ramaphosa, as special guest of honor at a high-level briefing, following his earlier participation in the Africa Investment Forum.
Similarly, Shettima and the President of Botswana, Duma Boko, held a bilateral meeting where areas of mutual interest between both countries were discussed.
The meeting, which took place on the sidelines of the WEFis part of Nigeria’s commitment to fostering stronger intra-African relations and economic cooperation.
Both leaders emphasized the importance of leveraging their countries’ strengths to promote mutual growth and development.
The Vice President, who congratulated President Duma Boko on his election victory, called for deeper partnerships and collaborations between African nations, saying it is time Africa united and presented a common front on interests regarding the continent.
During the meeting, Shettima welcomed the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, introducing her to the Botswana President.
He commended Dr. Okonjo-Iweala’s exceptional achievements, describing her as one of Africa’s finest.
Other areas of interest discussed between the two leaders included trade, investment and strengthening of diplomatic ties.
