Vice President Kashim Shettima has called on African nations to embrace homegrown solutions to economic challenges, urging a shift from import dependency and foreign aid to local production and investment, with Nigeria’s Dangote Refinery as a prime example of progress.
Speaking on Thursday at the High-level Accra Reset Initiative meeting on the sidelines of the 2026 World Economic Forum (WEF) Annual Meeting in Davos, Shettima stressed that true prosperity must be “homegrown and earned,” not imported. He highlighted Africa’s evolving role, stating, “Africa was no longer the periphery but the pulse of the world’s demographic and economic future.”
He pointed to Nigeria’s transformation through the Dangote Refinery, Africa’s largest in Lagos, as proof that the continent can become a net exporter of value.
“Africa cannot rise on applause alone. We rise when we build. After decades as a net importer of value, Nigeria is on the verge of becoming a net exporter of refined fuel, powered by Africa’s largest refinery in Lagos, Nigeria: the Dangote Refinery. This is what happens when African capital meets industrial ambition,” he said.
The Vice President advocated leveraging modular factories, artificial intelligence, and robotics to accelerate industrialization, adding that the era when Africa is “known only for what it digs or grows” is giving way to one defined by what it builds.
He also stressed the role of human capital and diaspora remittances, noting that in 2024 alone, Africans abroad sent home about 95 billion dollars, more than five per cent of our GDP and roughly equal to total foreign direct investment.
“That is not charity. “This is why we are also championing free movement across Africa because mobility is a competitive advantage in a world where human capital is the most precious resource. Let skills and ideas flow as freely as goods and capital, and prosperity will follow.”
Drawing from Nigeria’s experience, he reiterated, “Prosperity is not imported; it is built. Wealth given from outside is fragile. Wealth created from within is enduring. Nigeria’s own market of over 200 million people has taught us that latent demand means little unless we cultivate local supply.” On health security, Shettima outlined Nigeria’s contributions via the Presidential Initiative for Unlocking the Healthcare Value Chain (PUHVAC), launched in October 2023. “We have begun treating health security not only as a social obligation but as an industrial value chain,” he explained. “This approach resonates with a broader African aspiration: building our own vaccine and medicine capacity to secure what I call health sovereignty.”
Ghanaian President John Mahama, who hosted the event, applauded Shettima’s participation and criticized transactional global relations trapping Africa in poverty.
Former Nigerian President Olusegun Obasanjo warned of a “new age of disruption,” stressing execution over complaints.
Former Vice President Yemi Osinbajo echoed the need to rethink economic strategies, aiming to galvanize support for African governments facing transformation challenges.
