Global Trend Affecting Efforts in Africa

Filed under: Democracy & Governance,Global Issues |

Global Trend Affecting Growth in Africa

Nigeria’s National Conference has brought the people together so they can come up with ideas to build inclusive growth and economic transformation. The question is, how much can a transformation in Nigeria, accounting for over 50% of the West African economy, help drive progress in Africa as a whole?

Already, after a re-statistical rebasing, the country has suddenly become the largest economy on the continent. With this, much more continental leadership will be expected of Nigeria. Africa’s economic community such as ECOWAS, SEDEC and the rest of them, have the prospect to successfully integrate the continent and increase community trade by concentrating their efforts on community capacity building in the appropriate management of their natural resources.

To be specific, if governance improves and conflicts is reduced, Africa should find itself more competitive globally. As i have said in the past, along with the successful management of Africa’s natural resources, broad-based infrastructural growth and a linkup, for regional integration, industrial park and effective community development and management, will attract new trading opportunity all across Africa. What we need to be in several global several trend will be efforts to close Africa’s well known competitiveness gaps in key areas including institutions, eduction, skills and appropriate technology growth. When we close these gaps, and build solid productive capacities especially in Agriculture and manufacturing, inclusive growth will happen and Africa will rise.