Nigeria has canvassed closer collaboration with the World Economic Forum (WEF) to foster economic development and growth in the country and on the African continent.
Specifically, the federal government sought partnerships with the global body on the African Atlantic Gas Pipeline (AAGP) in the bid to connect Nigeria to Morocco and other African countries as well as the recharging of Lake Chad to tackle the global food security crisis and other existential threats.
Vice President Kashim Shettima, according to a statement issued yesterday by his Media Assistant, Stanley Nkwocha, stated this during a bilateral meeting with President of the World Economic Forum (WEF), Mr. Børge Brende, on the sidelines of the ongoing annual meeting of WEF in Davos, Switzerland.
On the African Atlantic Gas Pipeline, Shettima said Nigeria will be in a vantage position to take advantage of the WEF platform to develop the gas project, pointing out that this will address the geopolitical challenges in Europe and the growing demand for energy due to artificial intelligence, data mining and storage.
His words, “We seek your collaboration in fundamental areas. One is on the African Atlantic Gas Pipeline (AAGP) which will connect Nigeria to Morocco and other African countries. The pipeline will transport natural gas from Nigeria to North Africa and Europe and is expected to improve energy security and economic growth in the region.
“With the geopolitical challenges in Europe from Russian gas problems and the rising demand for energy because of artificial intelligence, data mining and storage, we will be in a vantage position to take advantage of this opportunity.
“A lot of littoral states in West Africa who have discovered gas are more than willing to plug into the system and feed their gas to other end users. We are also exploring the area of undersea passage of the pipelines for it to be a win-win for everyone. We want to use the WEF platform.”
He told the WEF President that while Nigeria is a country blessed with gas, the nation is exploring every option to maximise available opportunities for economic growth and create wealth for its growing population.
“Nigeria is a gas nation than an oil nation. Because of our population, we either take care of the young men and women, (our average is 16.9), or they take care of us in the next ten or twenty years down the line. This is why we are in a hurry to develop in our enlightened self-interest. Gas provides us with the utmost opportunity to generate wealth for our people,” Shettima noted.
On recharging of Lake Chad, the Vice President said apart from addressing the food security crisis, it will also put Nigeria in a vantage position to generate clean energy and combat terrorism.
“There is an incestuous relationship between economy and ecology in the Sahelian region. The challenges of Boko Haram and ISWAP might not be disconnected from the realities of existential threats we are facing.
“The Lake Chad hitherto was 25,000 sq. km but it has shrunk to 2,000 sq. km. There is the issue of the recharging of Lake Chad from the Congo River basin which is the second largest river basin in the world, and the water flowing into the Atlantic. We want to use your platform to recharge Lake Chad.
“This will help us to successfully generate clean energy, a significant amount of hydropower annually, and there will be a canal of 2400 kilometres that will change the agricultural landscape of that sub-region. This will address the food security crisis that the world is facing.”
Shettima also informed the WEF President about the ongoing reforms being undertaken by the administration of President Tinubu, saying the Nigerian President has returned Nigeria to the part of sustained economic growth.
“Most importantly, we are talking about the present. My leader and my boss, President Bola Tinubu is someone who also grew up in the finance ecosystem. He was a financial controller for ExxonMobil; he was a transformative leader in Lagos State and in Nigeria, he is the most disruptive leader we have had in half a century.
“From the first week in office, he did the right thing – from the subsidy removal to the alignment of the exchange rates, tax reforms, and so many ongoing reform efforts. Our economy has turned the corner, we have crossed the Rubicon and we’re now on the path to sustained economic growth,” he stated.
The Vice President invited the WEF President to Nigeria to meet with President Tinubu, while also intimating him of Nigeria’s readiness to host the WEF Africa.
Underscoring why fostering collaboration with WEF is germane to the growth of Africa, Shettima noted that apart from being the biggest economy in the continent, Nigeria is also the most populous nation in Africa, with 250 million people.
“And by 2050, we will be the third most populous nation on earth, surpassing the United States. By the end of the century, Nigeria will be the most populous nation on earth,” the Vice President further said.
Meanwhile, Shettima yesterday returned to the nation’s capital, Abuja, after his eventful engagements at the 2025 World Economic Forum (WEF) in Davos, Switzerland.
The Vice President, according to a statement issued by his Media Assistant, Nkwocha, was received by Borno State Governor, Professor Babagana Zulum and other top government officials upon arrival at Nnamdi Azikiwe International Airport, Abuja.
Accompanied by senior government officials, including the Minister of Foreign Affairs, Amb. Yusuf Tuggar; Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun; Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole and Executive Secretary of Nigerian Investment Promotion Commission, Aisha Rimi, Shettima returned to Abuja following the successful conclusion of his engagements in Davos.
The Vice President, who represented Nigeria at the annual global economic summit, presented the nation’s investment opportunities to a global audience, advocated African economic integration, and held strategic meetings with world leaders and international organizations.
During his stay in Davos, Shettima participated in forums that drew attention to the importance of driving investment into Africa’s frontier markets.
At a forum titled, ‘Roadmap to Co-create Investment Opportunities for Africa’s Frontier Markets’, organised by the African Development Bank (AfDB) and WEF, the Vice President reaffirmed Nigeria’s readiness to attract capital for sustainable growth.
In another forum, he assured of Nigeria’s commitment to the African Continental Free Trade Area (AfCFTA), just as he reaffirmed the nation’s resolve to leverage digital trade as a tool for economic transformation, projecting Africa’s potential to achieve a $29 trillion economy by 2050.
In bilateral meetings with global leaders, including the President of Botswana, Duma Boko, and President of South Africa, Cyril Ramaphosa, Shettima discussed strengthening intra-African relations and fostering partnerships to promote trade and development.
He also engaged in talks with the Director-General of World Trade Organisation (WTO), Ngozi Okonjo-Iweala, and President of the World Economic Forum, Børge Brende, on collaborative efforts to address Africa’s challenges, including energy security, food crises and ecological threats.
Speaking on Nigeria’s reform agenda under President Tinubu, the Vice President highlighted ongoing measures such as subsidy removal, exchange rate alignment and tax reforms, noting that the country is now on a path to sustained economic growth.
Other highlights of his participation include his role as a panelist in the “Financial Times Global Risks 2025” dialogue, where he stressed the importance of multilateral collaboration to address global crises.
He also advocated innovation in education and agriculture to empower Nigeria’s youth and drive economic progress.