At WEF 2025, Nigeria Seeks Full Implementation Of Continental Free Trade

Nigeria has reaffirmed its commitment to leading the implementation of the African Continental Free Trade Area (AfCFTA) and maximizing the market potential of this initiative to foster digital transformation and economic integration across the African continent.

Vice President Kashim Shettima stated this on Wednesday when he joined other world leaders to push for the full implementation of the (AfCFTA) with a target to boost Africa’s economy to $29 trillion by 2050.

This is just as the President of the World Economic Forum (WEF), Børge Brende, pointed out the transformative potential of the AfCFTA, projecting that its full implementation could boost Africa’s economy to $29 trillion by 2050.

VP Shettima and the global leaders declared their nations’ positions on Wednesday during a forum of Friends of AfCFTA on the sidelines of the ongoing 2025 annual meeting of the World Economic Forum (WEF) in Davos, Switzerland.

The Vice President, while addressing the forum tagged, “Forum Friends of AfCFTA: Turning Digital Trade into a Catalyst for Growth in Africa,” reaffirmed Nigeria’s commitment to AfCFTA as a vehicle for shared prosperity.

According to VP Shettima, Africa stands in a unique position to take advantage of global talent deficits, citing a Korn Ferry study that projects a global human talent shortage of more than 85 million people by 2030.

“By 2050, Nigeria’s population will surpass that of the United States, becoming the third most populous nation on earth at 440 million people”.

“If the Secretary General of the AfCFTA is given all the support he deserves, we can boost intra-African trade by a staggering 50%.

“As of today, $29 trillion represents one-third of the global GDP. Africa is such a growing continent, and one of its key promises is demography. The challenge now is creating new jobs for the youth population,” he stated.