Former Anambra State Governor, Mr. Peter Obi, has called on Commonwealth leaders to support African countries to enthrone accountable and responsible leaders to harness the continent’s potentials.
Obi in his remarks at the Commonwealth Trade and Investment Summit in London yesterday, regretted that Africa’s most important deficit is a deficit of leadership.
“The effective and sustainable harnessing of the opportunities in Africa through an agenda/framework rooted in the African consensus will require the enthronement of accountable and responsible leadership across Africa.
“This will be the most effective way through which our internal coherence and external connectedness can be properly harnessed for the sustainable and inclusive growth and development of Africa,” he said.
The former candidate of the Labour Party (LP) in the 2023 presidential election however, stated despite the leadership challenge, Africa’s population and rich mineral deposit make her a key player in the global economy.
He described Africa as a continent with “incredible richness, not just in terms of its natural resources but also its human capital.
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“As the second largest and second-most-populous continent of the world with a population of over 1.4 billion people, Africa is home to a youthful and dynamic workforce with the largest concentration of working-age population of about 1.1 billion people.
“This demographic advantage, with an abundance of natural resources ranging from minerals to over 874 million hectares of arable land for agricultural revolution, positions Africa as a key player in the global economy.”
He noted that some African countries are already experiencing rapid economic growth, with several economies consistently outperforming global economic growth averages.
“Of the top 20 countries with the highest growth projections for 2024, 12 are in Africa.
“The rise in population and an expanding middle class with about 53 per cent of income earners falling within the age group of 16 to 34 years presents a vast consumer market, creating opportunities for investment and trade.”
“While every socio-economic sector in Africa presents immense potential and opportunities, let me use just four sectors- technology, entertainment, natural resources, and agriculture to further illustrate the emerging opportunities,” he said.
Obi insisted that Africa’s current development crisis is not really that of resources or opportunities but lack of leadership.
“We know the opportunities and where they exist.
“While some African leaders are commendably developing and growing their respective economies, what is required is the enthronement of responsible and purposeful leaders across all African states to create the required support and ownership for the robust formulation and implementation of the African consensus development agenda,” he said.
He called on the Commonwealth with its long years of experience in political leadership to partner to support Africa to instil accountable and responsible political leadership, which he noted, has remained the most critical requirement for the harnessing of the immense opportunities in Africa for the benefit of the continent, the Commonwealth, and the global economy.
