Tuesday, November 02, 2010

Nigeria and its huge potentials is key to success of Africa

Africa: How to Grow African Economy -UK Financial Expert
Source: Daily Independent (Lagos) - www.independentngonline.com
Written by Abel Orukpe
Date: Monday, 01 November 2010
(Lagos) - Former United Kingdom Secretary to the Treasury, Lord Paul Boateng, said Africa economies have the capacity to boom despite the current global meltdown ravaging economies around the globe.

He also said Nigeria and its huge potentials is the key to the success of Africa.

Boateng is participating at the Kuramo conference being organised by the Lagos State government in partnership with the organised private sector to bring together the best brains in all aspects of life to fashion out the best way to moving Africa economies forward.

He spoke with journalists at the Murtala Muhammed International Airport (MMIA), Lagos on why the economies of developing countries have continued to dwindle.

According to Boateng, "The good news is that Africa has proved to be remarkably resilient in terms of its economy during this current global downturn and we have every expectation that Africa would come through this difficult process for her world to make a stronger and better place."

He posited that to make the economies of developing countries work, Africans have the responsibility to ensure that their economies are well managed, adding that it is by doing this that African continent can grow and create jobs for its people.

In his words, "The key to that is that all of us recognising the responsibility that we have to ensure that the economy are managed well, that we have effective and sound micro- economic policy and that together we create a continent in which there is growth with jobs

Boateng, the first black cabinet minister in UK contended that the growth of developing economies and job creation go hand -in - hand and that if these aspects are fixed economies of developing countries, where African countries belong will be stronger for it.

"The truth is that both of them go together, growth and jobs and the good news is that Africa should be on track to come out of this recession stronger than it was before".

The former secretary to the treasury, who said he was delighted to be in Lagos, said that the Kuramo conference is a clear sign that the government and people of Lagos recognise the role of this great metropolis in rebuilding and strengthening the African economy.

On the future of Nigerian economy, he said: "Nigeria and its future, Nigeria and its huge potentials are the key to the success of Africa that is why all people of good will look to Nigeria to demonstrate leadership, to demonstrate the strength that historically I believe that it has and to fulfil that it displayed some what 50 years ago when the people of Nigeria won their independent so this is a great conference and we are looking forward very much to do a serious work in order to make sure that the economy of Africa and its people fulfil the potentials that they have."
Hat tip: AllAfrica.com
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'Reversing Brain Drain Is Key To Continent's Development', Says Wole Soyinka In Tunis
Source: Tunisia Online News
Date: 26 October 2010 - excerpt:
Addressing the African Development Bank's (AfDB) "Eminent Speakers" program in Tunis on Friday, Wole Soyinka, the first African to win the Nobel Literature Prize, said that the reversal of Africa's brain drain is key to the continent's development. ...
Hat tip: allafrica.com/afrora.com

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