Vice President Kashim Shettima confidently addressed African leaders in Nairobi, revealing President Bola Tinubu's commitment to dismantling the obstacles posed by economic saboteurs to Nigeria’s growth. The discussion took place during the 21st Replenishment meeting of the International Development Association, focusing on Africa’s development challenges and potential solutions.
In a statement from Stanley Nkwocha, the Senior Special Assistant on Media and Communications to the Vice President, titled ‘Our youths will transition Nigeria into digital economy powerhouse – President Tinubu,’ Shettima emphasized Nigeria's transformative vision. Representing President Tinubu, he highlighted the administration's efforts to pivot Nigeria towards becoming a global center for digital and creative economic activities, leveraging the nation’s young demographic.
Shettima reassured the summit participants about significant strides made under President Tinubu’s leadership. “Since taking office, President Tinubu has been unwavering in his resolve to end the detrimental impact of economic saboteurs. Our economy is now moving beyond these challenges," he affirmed.
Further explaining Nigeria's strategy, Shettima outlined the country's ambitious digital market plans, which aim to absorb global technological innovations and position Nigeria as a premier hub for outsourcing digital and creative talents.
This direction aligns with the launch of the Outsource to Nigeria Initiative (OTNI) two months ago. This government-supported, private sector-led initiative seeks to tap into the lucrative $350 billion global outsourcing market by fostering a conducive environment for business process and technology-enabled outsourcing sectors.
Moreover, Shettima shared insights into Nigeria’s comprehensive reform agenda, which includes clamping down on illicit financial activities and currency manipulations that have historically plagued the nation’s development. He also touched on Nigeria’s commitment to enhancing climate resilience and becoming an attractive destination for carbon market investments, citing the necessity to act against the backdrop of climate-induced security challenges.
On the broader African stage, the Vice President underlined the critical importance of regional economic integration through frameworks like the African Continental Free Trade Area Agreement. He noted that such integration is vital for breaking down investment barriers and facilitating smoother access to global markets.
During his speech, Kenyan President William Ruto also voiced concerns over the convergence of global crises, including severe climate events that have recently devastated parts of East Africa. He stressed the importance of the summit and the pivotal role of the International Development Association (IDA) in supporting the continent’s urgent development needs.
The summit concluded with a joint communique by the African Heads of State, advocating for a robust replenishment of IDA resources to assist in meeting the continent's ambitious development objectives.
World Bank President Ajay Banga also expressed optimism about Africa’s future, emphasizing the continent’s dynamic young population and the critical role of IDA in fostering growth and stability across Africa.
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