Vice President Kashim Shettima and other economic stakeholders have called on African nations to deepen the adoption of Islamic finance as a tool for inclusive and sustainable economic transformation across the continent.Shettima made the call while addressing delegates at the 7th African International Conference on Islamic Finance, AICIF, in Lagos.
The conference was organised by the Metropolitan Law and Metropolitan Skills Ltd in collaboration with the Securities and Exchange Commission of Nigeria, SEC.Speaking on the theme “Africa Emerging: A Prosperous and Inclusive Outlook,” the Vice President, who was represented by Dr Tope Fasua, Special Adviser to the President on Economic Matters, said Africa’s demographic advantage must translate into equitable prosperity, stressing that the continent’s progress will be measured not only by growth but by inclusion.
He highlighted Nigeria’s recent economic reforms under President Bola Tinubu’s Renewed Hope Agenda as key drivers of stability and investor confidence.According to Shettima, Nigeria has unified its exchange rate, rationalised subsidies, modernised tax and customs systems, and opened new gateways for trade and investment reforms, which have lifted reserves above $40 billion and earned favourable ratings from Fitch and Moody’s.“These outcomes reaffirm Nigeria’s position as an anchor of the AfCFTA’s $3.4 3.4trn market and a driver of Africa’s growth,” he said.