Vice President Kashim Shettima has strongly advocated for the adoption of indigenous strategies to address Africa's economic challenges. He urged the continent to pivot towards innovation, bolster local manufacturing, and pursue investment-led expansion as the cornerstones for achieving sustainable prosperity.
Shettima articulated this vision on Thursday during the High-Level Accra Reset Initiative meeting, which convened alongside the ongoing 2026 World Economic Forum (WEF) Annual Meeting in Davos, Switzerland. He emphasized that Africa's path to robust wealth lies in cultivating its internal production capabilities, rather than continuing to depend on external assistance.
He asserted that Africa is no longer a marginal player on the global stage but is positioned at the core of future global demographics and economic trends. However, he cautioned that achieving prosperity requires proactive effort and cannot be attained merely through passive anticipation or external validation.
"Africa can only achieve genuine, sustainable wealth by developing its domestic productive capacity, harnessing its population and innate talents. Prosperity is not something that can be delivered from above; it must be generated internally and earned through diligent effort," Shettima stated.
Illustrating his point with Nigeria's experience, the Vice President referenced the Dangote Refinery, noting that the nation is poised to transition from being a net importer of refined fuel to becoming an exporter, a significant shift after decades of reliance on foreign supply.
"Africa cannot advance simply by receiving praise. We progress through construction. After years of being a net importer of value, Nigeria is on the cusp of becoming a net exporter of refined petroleum products, thanks to Africa's largest refinery located in Lagos – the Dangote Refinery," he declared.
He further explained that when African capital is aligned with industrial aspirations, nations are empowered to move from being mere price influencers to becoming significant value creators. He stressed that the development of infrastructure and the establishment of clear policy frameworks are crucial for facilitating this transformation.
Shettima drew attention to the concerning decline in Africa's manufacturing contribution to its Gross Domestic Product (GDP), which fell from 16 per cent in 1980 to below 10 per cent by 2016. He expressed optimism, however, that the continent can now accelerate its progress by embracing technology, modular manufacturing, artificial intelligence, and robotics.
"Africa possesses the potential to industrialize more rapidly in the 21st century than at any prior period. The era where our identity was solely defined by what we extract from the earth or cultivate is evolving into an era where we will be recognized for our construction and innovation," he remarked.
The Vice President also underscored the critical role of human capital mobility, noting that Africans residing abroad remitted approximately $95 billion in 2024, a sum exceeding the total foreign direct investment received by the continent.
"This inflow is not an act of charity. Allowing skills and ideas to circulate as freely as goods and capital will pave the way for prosperity," he stated, adding that Africa should leverage the free movement of people as a competitive advantage.
Regarding health security, Shettima revealed that Nigeria is approaching healthcare not merely as a social responsibility but as a vital industrial value chain. This approach is being implemented through the Presidential Initiative for Unlocking the Healthcare Value Chain (PUHVAC), which was launched in October 2023.
He characterized the Accra Reset Initiative as a vital call to action, urging Africa to transition its mindset "from dependency to dignity, from aid to investment, and from rhetoric to tangible results." He conveyed strong confidence in the continent's potential to experience a significant economic surge driven by innovation, industrial development, and collaborative efforts.
Earlier, Ghanaian President John Mahama lamented Africa's transactional international relationships, arguing that they have perpetuated cycles of conflict and poverty across the continent. Former Nigerian President Olusegun Obasanjo and former Vice President Yemi Osinbajo also called for enhanced coordination, discipline, and strategic implementation to secure Africa's rightful place in the evolving global landscape.
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