Africa needs to reclaim ownership of its wealth and commerce, says Shettima

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Vice President Kashim Shettima says African nations must take their rightful place in controlling the continent’s resources and global trade.

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Shettima spoke on Friday in Cotonou, Republic of Benin, during a tour and assessment of the Glo-Djigbé Industrial Zone (GDIZ).

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He said Africa must maximise its vast natural endowments by developing industries capable of processing raw materials into higher-value products.

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The vice president said Nigeria’s renewed industrialisation drive would leave no region behind, with the federal government working alongside subnational governments.

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He expressed satisfaction with Benin’s efforts to achieve mass production and export of locally sourced resources.

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Shettima regretted that Africa benefits from only about one per cent of the global cotton industry, valued at 370 billion dollars.

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He said reviving Nigeria’s textile value chain could create millions of jobs, boost non-oil exports and stimulate economic activities nationwide.

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The vice president expressed his satisfaction after inspecting cotton, textile, cashew and soya bean oil production facilities at the industrial zone.

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“We are here essentially at the behest of President Tinubu, in the spirit of his Renewed Hope Agenda, to see and peer-review global best practices,” he said.

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Shettima said the visit would help Nigeria learn from Benin’s experience in creating integrated value chains for cotton, cashew and soybeans.

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“We are setting up eight agro-industrial zones in eight states in our country,” he said.

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He added that the GDIZ represented “an African success story where there is a whole chain of value addition in cotton, cashew and soya bean value chains.

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“Be rest assured that we have learnt a lot of lessons through this visit, and we are going to replicate a lot of that in Nigeria.”

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He said the federal government remained focused on making Nigeria one of the world’s industrialised nations under President Bola Tinubu’s Renewed Hope Agenda.

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The vice president was briefed on GDIZ’s structure, production capacity and investment potential by Benin’s Minister of Tourism and Foreign Trade.

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The delegation inspected integrated textile and agro-processing facilities, where locally produced cotton is transformed into yarn, fabric and finished garments.

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It also toured facilities processing cashew and other agricultural commodities for domestic consumption and export.

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The visit formed part of Nigeria’s efforts to draw practical lessons from Benin’s success in linking agriculture with manufacturing.

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It also focused on attracting private investment and transforming raw materials into higher-value finished products.

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Shettima was accompanied by the governors of Kwara, Imo, Katsina, Plateau, Zamfara and Jigawa states. (NAN)

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