Foreign Aid Not Solution To Africa’s Economic Challenges – Shettima
Vice-President Kashim Shettima has said foreign aid from developed nations is not the solution to the economic challenges facing African and other southern global countries. The Vice President said this at the World Economic Forum (WEF) 2025 in Davos-Klosters, Switzerland. The event is themed ‘Collaboration for the Intelligent Age’. The WEF is a platform that […]
shettima
Vice-President Kashim Shettima has said foreign aid from developed nations is not the solution to the economic challenges facing African and other southern global countries.
The Vice President said this at the World Economic Forum (WEF) 2025 in Davos-Klosters, Switzerland.
The event is themed ‘Collaboration for the Intelligent Age’.
The WEF is a platform that brings together government, business, academia, and civil society leaders to address critical global challenges.
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Shettima, who was part of a panel discussion, highlighted the need to invest in education, gender empowerment, and innovation to re-engineer African societies.
He underscored the importance of African nations leveraging their resources to shape global growth.
The vice-president added that Nigeria’s economic crisis presents a unique opportunity to erect a solid foundation.
“Yes, we have challenges. But those challenges are also pregnant with opportunities to re-engineer our society and build back better.
“The crisis has given us a unique opportunity and window to invest in people especially on education, gender empowerment initiatives and smart agriculture to leapfrog our economies into the post-industrial revolution.
“I don’t believe in aid but in partnership. I would rather carry my poverty with dignity and deal with people, nations, and companies on a pedestal of equality, not a master-servant relationship.
“My continent is the richest in the world, and the trajectory of global growth is facing Africa. Nigeria will make or mar that transition.
“So I move in with confidence, cautious optimism and hope for a better tomorrow. But most importantly, I believe that the youth of Africa are the drivers of change in Africa.”
The Vice President on January 22, joined other world leaders on the sidelines of the WEF, in advocating for the full implementation of the African Continental Free Trade Area (AfCFTA) agreement.
During the event, he spoke about Nigeria’s readiness to spearhead the AfCFTA, and leverage the market potential of the initiative for digital transformation, and the economic integration of the African continent.