VICE PRESIDENT SHETTIMA CALLS ON ECONOMISTS TO JOIN FORCES TOWARDS TRANSFORMING AFRICA’S ECONOMY AS REFORMS YIELD RESULTS
Vice President Kashim Shettima has said that recent corporate growth and rising investor confidence are clear signals that Nigeria’s ongoing reforms are beginning to yield results, even though citizens continue to endure short-term hardships. He made the statement at the 66th Annual Conference of the Nigerian Economic Society (NES) in Abuja, where he charged economists across the continent to take the lead in shaping Africa’s economic transformation. According to him, politics and economics are inseparable in determining Africa’s future. The Vice President emphasized that economists are not just academic theorists but indispensable guides whose ideas directly shape the lives of citizens. He stressed that Africa must reposition itself in the evolving global order, adding that the continent’s 1.5 billion people should be seen as an asset, not a liability. Shettima lamented that while Asia and South America have successfully transformed into global models, Africa remains locked in post-colonial structures, with intra-African trade accounting for only 16 percent of total trade. He warned that the continent cannot afford to keep missing out on opportunities for growth and inclusion. In his remarks, the Minister of Livestock Development, Idi Mukhtar Maiha, highlighted Nigeria’s underutilized land resources and pledged renewed partnerships to reduce the nation’s heavy dependence on imported meat and dairy products. He noted that the livestock sector, like other sectors of the economy, holds enormous potential. “We have farmlands; we are looking at practical ideas to transform this sector. The future of this country is not in our hands but in our land. Through the Renewed Hope Agenda of Mr. President, the livestock sector today will be the next crude oil,” Maiha said. Also speaking, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, reaffirmed the Federal Government’s commitment to engaging professionals in shaping economic reforms. Similarly, former Minister of Finance, Dr. Shamsudeen Usman, stressed the need for more economists in government and for legislation to enforce national development plans. The representative of the African Development Bank, Dr. Eric Ogunleye, commended Nigeria’s economic reforms, describing them as a model that could set Africa on a clear path to prosperity. Earlier, in his welcome address, the President of the Nigerian Economic Society, Professor Adeola Adenikinju, urged the Federal Government to reintegrate the Society into the Nigerian Economic Management Team. The conference, which drew participants from 22 African countries, had as its theme: “Rethinking Africa’s Development Pathways to Economic Transformation and Social Inclusion in a Changing Global Economic Landscape.” Ben Bem Goong Director (Information and Public Relations) 10th September,2025.
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