Sub-Saharan Africa
Sputnik brings you all the most recent information, major events, heroes and views, including breaking news, images, videos, analyses, and features.

African Economies to Reach $29 Trillion by 2050, Nigerian Vice President Says

© Photo X / @stanleynkwocha_WEF 2025: Nigeria, Global Leaders Target $29trn African Economy By 2050
WEF 2025: Nigeria, Global Leaders Target $29trn African Economy By 2050 - Sputnik Africa, 1920, 23.01.2025
Subscribe
The African Continental Free Trade Area, the world's largest free-trade zone, commenced trading on January 1, 2021, creating a market of 1.2 billion people and establishing the eighth largest economic bloc with a $3 trillion combined GDP, projected to more than double by 2050.
Realizing the potential of the African Continental Free Trade Area could bring the continent's combined economy to $29 trillion by 2050, Nigerian Vice President Kashim Shettima said while speaking at the World Economic Forum in Davos, Switzerland.
"By 2050, Nigeria's population will surpass that of the United States, becoming the third most populous nation on earth at 440 million people," Shettima stated.
Shettima emphasized that the African Continental Free Trade Area embodies Africa's shared destiny and its potential to lead in the post-industrial knowledge age, despite earlier missed opportunities in agriculture and industry.
Nigerian Foreign Minister Yusuf Tuggar speaking at the Africa’s Momentum session of the World Economic Forum, January 21, 2025 - Sputnik Africa, 1920, 22.01.2025
Sub-Saharan Africa
Nigeria Intends to Join G20 With South Africa's Help, Foreign Minister Says
He noted Africa's rapid digitalization, citing 220 million telecom subscribers and 163 million internet users in Nigeria alone, which he believed "provides us with immense opportunities to empower our people."
Newsfeed
0