… Says Africa will surpass Europe as world’s third-largest economic bloc
By 2050, Africa will surpass Europe to become the world’s third-largest economic bloc, and Nigeria will rank among the top ten global economies, according to Jason Miller, communications strategist and former senior advisor to President Donald Trump.
Miller shared this projection at the ongoing Afreximbank Annual Meetings in Abuja, where he presented a bold yet cautionary vision for U.S.-Africa trade relations.
Addressing a high-profile audience of policymakers, financiers, and business leaders in conversation with Viswanathan Shankar, CEO of Gateway Partners, Miller described Africa’s rise as inevitable but warned that realising its full potential would depend on strategic decision-making across the continent.
“By the year 2100, sub-Saharan Africa will be home to four of the world’s most populous countries,” he said. “This is Africa’s century, but if these opportunities aren’t seized strategically, Africa risks being taken advantage of again.”
Miller was blunt in his critique of previous global engagement with the continent, arguing that foreign actors “took, took, took, leaving broken promises.” He positioned America’s approach as fundamentally different one based on private sector-led partnerships rather than debt traps, military interventions, or empty rhetoric. “This is not debt diplomacy. This is market-driven investment that requires mutual accountability,” he said.
He outlined three key conditions that African nations must meet to attract and sustain meaningful U.S. partnerships.
First, Africa must demand real value and avoid falling into the trap of unsustainable loans disguised as development aid. Miller emphasised that future-proof infrastructure, roads, ports, data centres, and clean energy should be the focus of foreign direct investment. He highlighted Africa’s vast critical mineral reserves and large youthful population as pivotal assets to becoming a global leader in the AI supply chain. “This is like the Industrial Revolution,” he said.
Second, business environment reforms must accelerate. Miller stressed that contract enforcement, currency stability, and anti-corruption efforts are not optional but “the price of admission” for attracting capital from U.S. pension funds and other private investors. He acknowledged recent currency reforms in Nigeria as a “gutsy” move but called for broader, faster reforms across the continent.
Third, Miller advised African leaders to choose partners carefully. Drawing a stark contrast between Chinese engagement, which he associated with “unregulated fishing, environmental disasters, and crippling debt” and America’s track record, he pointed to U.S. contributions such as PEPFAR’s fight against HIV/AIDS, military support against Boko Haram, and mediation efforts in regional conflicts. “True friendship respects sovereignty and borders,” he stated.
On U.S. policy, Miller discussed the uncertain future of the African Growth and Opportunity Act (AGOA), which is set to expire in September 2025. “Why renew one-way preferences if African nations impose tariffs on U.S. goods or favour Chinese partners?” he asked, calling for renegotiation on the basis of reciprocity.
He also defended Trump-era tariffs as tools to protect strategic industries and leverage fairer trade deals. He described the U.S. Development Finance Corporation (DFC) as a major force for Africa’s growth, citing its profit-driven investments in projects such as the Lobito Corridor and Mozambique LNG. “This is revenue-generating capital, not debt,” Miller said, urging reforms to attract giants like BlackRock and CalPERS.
To African leaders, Miller offered direct advice: come prepared. “Follow President Trump on Truth Social to understand his priorities before meetings. Don’t come for photo-ops — come with concrete asks and proposals,” he said. He urged them to look to Gulf states like Saudi Arabia and the UAE, whose targeted investments and peace diplomacy earned them early access to U.S. leadership. “Bring in CEOs and investors, not just bureaucrats. Tell Africa’s story in the language of capital,” he added.
Miller ended with a rallying call: Africa’s promise must convert into measurable progress. He advocated for renegotiating AGOA, accelerating reforms, tying infrastructure investments to mineral exports, and aggressively engaging the DFC. “Above all, champion stability. It is the bedrock of investment,” he said.
In a final announcement, Shankar revealed Miller’s appointment as Senior Advisor to Gateway Partners, a role Miller pledged to use in channelling U.S. capital toward Africa’s emerging industries. “Don’t settle for lip service. Demand partnerships. That’s how Africa becomes powerful, wealthy, and great on its own terms,” Miller concluded.
