Shettima: Time Is Nigh For Africa To Take Rightful Place In Global Trade

Africa stands on the cusp of claiming its rightful position in global trade, provided it harnesses its abundant resources, declared Nigerian Vice President Kashim Shettima. Speaking in Cotonou, Benin, Shettima underscored President Bola Tinubu's commitment to an inclusive industrialization drive, assuring that "no region will be left behind" under the current administration's "Renewed Hope Agenda."

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the time is nigh for African nations to take their rightful place in the control of global resources and trade by taking advantage of the natural endowment with which the continent is blessed.

Shettima's visit to the Glo-Djigbé Industrial Zone (GDIZ) in Benin highlighted the potential for value addition in key African commodities. He expressed regret that the continent only captures a small fraction of the global cotton market's value. "Reviving Nigeria’s textile value chain could generate millions of jobs, expand non-oil exports and stimulate economic activity across the country," he noted, drawing inspiration from Benin's success in processing cotton, textiles, and cashews.

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no region will be left behind in the renewed industrialisation drive of the Nigerian leader.

Impressed by the integrated agro-processing facilities, Shettima announced Nigeria's intention to replicate such models. The country is establishing eight agro-industrial zones across its states. "We have learnt a lot of lessons through this visit and we are going to replicate a lot of that in Nigeria, as we are focused on becoming one of the industrialized nations in the world," he stated, reinforcing the administration's goal of transforming the nation's economic landscape through strategic industrial development and value chain enhancement.

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of the $370 billion worth of global cotton, Africa benefits from only about one per cent of that amount.