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Barbara Bako, Abuja
Vice President Kashim Shettima has called on African nations to move beyond mere survival and build a future anchored on economic transformation, regional collaboration, and inclusive growth...
Speaking on behalf of Vice President Kashim Shettima, the Special Adviser to the President on Economic Affairs in the Office of the Vice President, Mr. Tope Fasua, addressed the 32nd Annual Meetings of Afreximbank on Wednesday in Abuja with a rallying call for African-led development.
,Shettima said, “This is more than a ceremonial gathering. It is a congregation of builders and believers. Let us reject the stereotype of a dependent Africa. Let us instead embrace the idea of an Africa that trades with itself, invests in itself, and shapes its own destiny.”
He hailed Afreximbank’s strategic contributions to Nigeria, citing over $52 billion in financing support, more than any other country.
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He praised initiatives such as the newly opened African Medical Centre of Excellence, the Africa Trade Centre in Abuja, and a $300 million export manufacturing initiative across four Nigerian states as landmark achievements.
Shettima declared, “These are not merely projects, they are strategic investments in resilience, sovereignty, and shared prosperity.”
The Vice President outlined key reforms under President Bola Ahmed Tinubu’s administration, including exchange rate unification, removal of fuel subsidies, expansion of compressed natural gas (CNG) infrastructure, and accelerated infrastructure investments.
“These actions, while difficult, are already yielding impact. GDP is expected to grow between 4% and 4.5% in 2025. Inflation is stabilizing, reserves are strengthening to circa $40 billion, and our economy is on a more diversified footing,” he noted.
He emphasized that Africa must now shift from resilience to “renewal,” urging deeper implementation of the African Continental Free Trade Area (AfCFTA), greater investment in digital trade systems, and broader access to finance for youth, women, and small businesses.
Following Shettima’s keynote, Central Bank Governor Mr. Yemi Cardoso took the stage, commending Afreximbank for its pivotal role in African trade finance over the last three decades.
“Afrexim has emerged as more than an average financial institution, It has become a trusted partner, a convener of ambition, and a catalyst for change,” Cardoso said.
He praised the Bank’s ability to act swiftly during crises—including through counter-cyclical financing and pandemic support—stressing that “Africa’s economic resilience is inseparable from its capacity to propose solutions to its challenges.”
Cardoso affirmed Nigeria’s commitment to institutional reforms, financial stability, and diaspora engagement. He cited recent policy efforts to attract remittances through new financial products tailored to Nigerians abroad.
“Our work is focused on restoring clarity, reimposing consistency, and deepening confidence—not as an end in itself, but as a foundation for a resilient future,” he said.
Reflecting on leadership, Cardoso also emphasized the importance of execution alongside vision. “Barely 8% of leaders have both strategy and execution. In some countries, unfortunately, you find that there is neither.”
He ended on a personal note, commending Afreximbank President Professor Benedict Oramah for realizing a decade-old dream with the launch of the Africa Medical Centre of Excellence.
Cardoso said, “It is not many that have the fortune of making big dreams come true. I personally say to you—keep dreaming.”
The event drew leaders from across the continent to reflect on Afreximbank’s 32-year journey under the theme Building the Future on Decades of Resilience.
Rabiu M. Hamza
Agency News
