As political and business leaders begin talks at the 54th annual meeting of the World Economic Forum (WEF) with the theme “Rebuilding trust” in Davos, Switzerland, Nigeria’s Vice President Kashim Shettima has called for a genuine partnership to accelerate Africa’s economic growth.
Speaking at the session titled “An African of Scale” to launch a private sector action plan for the African Continental Free Trade Area (AFCTA) on Tuesday.
Shettima made it known that Africa needs to embrace mechanized farming in its agriculture value chain to increase economies of scale and boost economic growth and productivity.
He said: “Agriculture holds the key. 100 years ago, our forefathers used hoes and cutlasses; now we have to embrace modern agricultural practices and fertilization.
“The whole mantra is to increase yield so that Africa will be in a position to feed itself and add value to the world. Our combined GDP is expected to be $3.4 trillion, with a market of 1.3 billion people.
“The beauty of the African continent, besides the tremendous natural resources, is the human resources component. We are the youngest continent in the world, and the average age in Nigeria is 19.
“Africa is beckoning on the world for a genuine partnership that will really work for the mutual benefit of all of us.”
The Vice President acknowledged the huge infrastructural deficit but noted that President Bola Tinubu is creating an enabling environment to tackle it.
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