Nigeria’s Vice President, Kashim Shettima, has called on economists across Africa to take a central role in shaping the continent’s economic transformation, stressing that Nigeria’s ongoing reforms are already sparking corporate growth and boosting investor confidence, despite current short-term challenges faced by citizens.

Speaking at the 66th Annual Conference of the Nigerian Economic Society (NES) in Abuja, Shettima highlighted that politics and economics remain inseparable in determining Africa’s future. He underscored that economists are not mere theorists but vital players in policy-making, with direct influence on the quality of life of millions.

The Vice President stressed that Africa must reposition itself in the shifting global economic order. With a population of 1.5 billion people, he said the continent should be seen as a valuable asset rather than a liability. He lamented Africa’s persistent structural challenges, noting that intra-African trade makes up only 16% of total trade, while regions like Asia and South America have successfully transformed into global development models.

“Africa cannot continue missing out on opportunities for growth and inclusion,” he warned.

Livestock sector: Nigeria’s next crude oil

At the conference, the Minister of Livestock Development, Idi Mukhtar Maiha, emphasized that Nigeria’s vast farmlands and livestock resources remain underutilized. He pledged stronger partnerships to reduce the country’s dependence on imported meat and dairy products.

According to him, agriculture—especially livestock—holds the potential to become Nigeria’s next major economic driver.

“The future of this country is not in our hands but in our land. Through President Bola Tinubu’s Renewed Hope Agenda, the livestock sector today will be the next crude oil,” Maiha said.

Reforms and partnerships for growth

Also addressing participants, Minister of Budget and Economic Planning, Senator Atiku Bagudu, reaffirmed the government’s commitment to inclusive reforms that engage professionals and experts in policy execution.

Former Minister of Finance, Dr. Shamsudeen Usman, stressed the need for stronger collaboration between economists and government institutions, alongside legislation to enforce national development plans.

On his part, Dr. Eric Ogunleye, representing the African Development Bank (AfDB), praised Nigeria’s reform agenda as a model capable of setting Africa on a sustainable path to prosperity.

In his welcome remarks, Professor Adeola Adenikinju, President of the NES, urged the Federal Government to reintegrate the Society into the Economic Management Team, ensuring that research-driven insights directly inform national policies.

A continental dialogue for transformation

The 66th NES Conference brought together delegates from 22 African countries under the theme:
“Rethinking Africa’s Development Pathways to Economic Transformation and Social Inclusion in a Changing Global Economic Landscape.”

The event underscored the urgent need for innovation, strategic partnerships, and evidence-based policies to unlock Africa’s economic potential—particularly in agriculture and livestock development.