By Ayo Ayodele
Vice President Kashim Shettima has called on African nations to abandon overreliance on foreign aid and loans, urging leaders to embrace what he described as “strategic capitalism” as a pathway to sustainable development and economic independence.
Shettima made the call at the Africa Social Impact Summit (ASIS) held in Abuja, where he stressed that Africa’s long-term growth lies in enterprise-driven development, private sector participation, and innovative financing, rather than perpetual dependence on donor assistance.
Represented at the summit by his Technical Adviser on Women and Youth Engagement, Hajia Hauwa Liman, the Vice President said Africa must leverage its vast human and natural resources through policies that encourage investment, innovation, and value creation.
According to him, strategic capitalism involves aligning public policy with private capital, blended finance, and impact-driven investments to stimulate inclusive growth and address critical development challenges across the continent.
Shettima noted that the summit’s emphasis on inclusive growth, policy reforms, and social impact investment aligns with Nigeria’s broader development agenda and Africa’s quest for economic self-sufficiency.
He further underscored the importance of empowering women and young people, describing them as critical drivers of Africa’s economic transformation. He said initiatives unveiled at the summit would help unlock opportunities in education, entrepreneurship, and sustainable development.
The Vice President reaffirmed the Federal Government’s commitment to supporting policies and partnerships that foster innovation, deepen local capacity, and position Africa as a competitive force in the global economy.