Ethiopia’s Wheat Self-Sufficiency Inspires African Nations in Achieving Food Security

Ethiopia’s remarkable achievement in attaining wheat self-sufficiency serves as an exemplary success story for African nations, according to officials from the Intergovernmental Authority on Development (IGAD) member states. During a ministerial meeting to endorse the IGAD Regional Food Safety Strategy and Post-Harvest Loss Management Strategy, agriculture officials from Somalia, South Sudan, Uganda, and Kenya expressed their admiration for Ethiopia’s accomplishments and emphasized the importance of sharing the country’s experience in wheat production and self-sufficiency.

The Agriculture Minister of Ethiopia, Girma Amente, affirmed the country’s willingness to share its wheat production strategies and the national initiative that led to achieving self-sufficiency, even enabling the export of surplus to neighboring countries. The officials from the IGAD region lauded Ethiopia’s success as significant news for East African countries and expressed their eagerness to learn from Ethiopia’s experience.

Somalia’s Agriculture and Irrigation State Minister, Asad Abdirisak Mohammed, commended Ethiopia’s self-sufficiency in wheat as an exemplary achievement and emphasized the region’s eagerness to gain valuable insights. He highlighted the importance of food stability in the IGAD region and stressed the need for each country to focus on crops suitable for their specific soil and environment. Mohammed also underscored the necessity for African nations to strive for food self-sufficiency in the face of global challenges such as climate change and food insecurity.

Loro George Leju Lugor, the Director-General of South Sudan’s Agriculture Production and Extension Service, expressed his admiration for Ethiopia’s surplus wheat production and saw it as a significant encouragement for Africa. He stated that Ethiopia’s success would inspire South Sudan and other countries in Africa to follow in its footsteps, particularly in achieving self-reliance in cash crops like sorghum.

Uganda’s Animal Health Commissioner, Anna Rose Ademun Okuru, commended Ethiopia’s achievements in wheat production and highlighted the importance of finding products that enable adequate production to meet the population’s needs and promote export opportunities. She expressed Uganda’s interest in benchmarking Ethiopia’s success in the export of beef and live animals.

Collin Marangu, a representative from Kenya’s Ministry of Agriculture and Livestock Development, praised Ethiopia for moving in the right direction and emphasized the value of sharing knowledge with IGAD member states. Marangu acknowledged Ethiopia’s willingness to collaborate and exchange expertise for the benefit of all nations.

The success story of Ethiopia’s wheat self-sufficiency is inspiring neighboring countries and other African nations to strive for food security. The officials emphasized the importance of collaboration, focusing on suitable crops for respective regions, and learning from Ethiopia’s experiences to achieve self-reliance in agriculture and improve overall food production across the continent.

Nigeria Actively Promoting Agricultural and Mineral Commodities Market Development

Nigeria is making determined efforts to boost its economy by promoting the growth of the agricultural and mineral commodities market, according to Mr. Lamido Yuguda, the Director-General of the Securities and Exchange Commission (SEC). In a recent press briefing in Lagos, Yuguda highlighted Nigeria’s abundance of exportable commodities that can generate foreign exchange for the country. The SEC is working closely with the Standards Organisation of Nigeria (SON) to develop standards for these commodities, ensuring they meet international export requirements.

Through the collaboration with SON, several standards have already been developed and well-received in nearby markets. These standards will facilitate the export of Nigerian agricultural and mineral products to the international market, thereby bolstering the national economy. Yuguda expressed satisfaction with the government’s support for the commodities sector, which aligns with the SEC’s efforts to develop this market further.

Yuguda emphasized the potential of the agricultural sector, describing Nigeria as a nation with rich agricultural resources. However, due to the lack of standardized practices, much of the agricultural produce is currently sold only in local markets and often faces rejection in international markets. Yuguda stressed the need for proper standardization to enable Nigeria to export its high-quality fruits and other agricultural products.

In addition to agriculture, the SEC is also collaborating with the Ministry of Solid Minerals to tap into the opportunities presented by the mineral sector. Yuguda acknowledged the prevalence of artisanal mining and highlighted the importance of collaboration between state governments and the Ministry of Mines to establish standards and licensing processes, ensuring sustainable and regulated mining practices.

As part of the implementation of the Capital Market Master Plan, the SEC has established a Technical Committee on Commodities Trading Ecosystem. This committee, in collaboration with stakeholders such as SON, is tasked with addressing existing framework challenges and developing a roadmap for a vibrant commodities trading ecosystem. One of the key recommendations of the committee’s report is the development of a grading and standardization system in line with international best practices.

Yuguda expressed optimism about the future growth of the agricultural sector and the overall commodities market. He believed that by addressing standardization issues, Nigeria could seize significant opportunities in these sectors. The SEC is committed to collaborating with various government agencies and stakeholders to enhance capacity building, set standards, and advocate for domestic and international development in the commodities market.

Akinwumi Adesina Reappointed to Global Leaders Group in Fight Against Malnutrition

Akinwumi A. Adesina, President of the African Development Bank Group, has been reappointed to the Scaling Up Nutrition (SUN) Movement Lead Group by United Nations Secretary-General António Guterres. The Lead Group comprises 22 global leaders dedicated to eliminating global malnutrition by 2030.

The announcement, made on June 1, highlights the commitment of these nutrition champions to tackle malnutrition, a pressing global issue. Secretary-General Guterres praised the dedication of the Lead Group members, recognizing their efforts to scale up nutrition and create a world free from malnutrition by 2030. He emphasized the significance of the SUN Movement’s country-led, multisectoral, and multi-stakeholder approach in addressing this challenge.

Adesina expressed his gratitude for the appointment and his eagerness to contribute to the agenda. The African Development Bank has been actively involved in combating child undernutrition and stunting, which affects 216 million children in Africa. Poor nutrition not only leads to child fatalities but also hampers economic growth, costing the continent 11% of its gross domestic product.

Adesina advocates for investing in Africa’s “grey matter infrastructure” alongside physical infrastructure, recognizing the importance of cognitive function and critical operations in human development. The Bank’s Multi-Sectoral Nutrition Action Plan 2018–2025 aims to reduce stunting in Africa by 40% by 2025 through nutrition-focused investments across various sectors. So far, the Bank has reallocated $2.8 billion from its investment portfolio to nutrition-smart initiatives.

In collaboration with the African Union Commission, the Bank has launched the African Leaders for Nutrition (ALN) initiative. ALN brings together current and former leaders, finance ministers, and first ladies to promote nutrition in Africa. The Presidential Dialogue Group, formed under ALN, is working to address stunting in the most affected African countries.

These nutrition initiatives are integral to the Bank’s broader Feed Africa strategy, which aims to transform Africa into a net food exporter. The Bank co-hosted the Dakar 2 Africa Food Summit in January 2023, mobilizing over $70 billion to enhance food and agriculture production on the continent. Additionally, 41 African countries presented “Country Food and Agriculture Delivery Compacts” outlining nutrition-sensitive roadmaps to strengthen food security.

As a signatory of the Abidjan II Agreement, the African Development Bank collaborates with the African Union Commission, the Forum for African Agricultural Research, and the Centres for Global International Agricultural Research. This partnership seeks to enhance Africa’s resilience to food crises by strengthening agricultural research and innovation systems.

Adesina’s reappointment to the SUN Movement Lead Group further solidifies his commitment to combating malnutrition and fostering sustainable development in Africa. He joins esteemed members from various sectors who share the common goal of eradicating global malnutrition by 2030.


Africa’s Path to Eradicating Hunger: Partnerships and Technologies Lead the Way

African Development Bank President Dr. Akinwumi A. Adesina expressed confidence in Africa’s ability to eliminate hunger through partnerships and technologies. Speaking at the 8th Africa Agribusiness and Science Week (AASW) in Durban, South Africa, Adesina emphasized the need for action and robust financing to achieve this goal.

Adesina addressed an audience comprising stakeholders in agriculture and agribusiness research and innovation in Africa, urging them to harness the power of science, technology, and innovation to build a more productive, efficient, and competitive agricultural system.

The event, organized by the Forum for Agricultural Research in Africa (FARA) in collaboration with the government of South Africa, the African Union Commission (AUC), the African Development Bank, and the Consultative Group for International Agricultural Research (CGIAR), gathered various partners, including UN’s IFAD and UNIDO, as well as the European Commission.

AUC Commissioner for Rural Economy and Agriculture Ambassador Josefa Leonel Correia Sacko emphasized the urgency of the event in light of the hunger pandemic caused by factors like Covid-19 and climate change. Sacko called on Africa to leverage its potential, including science, and adopt a proactive approach to shocks. She also highlighted the importance of Africa’s young population and abundant natural resources in feeding both the continent and the world.

FARA Chairperson Alioune Fall addressed the relationship between climate change and agricultural production, noting the necessity for new approaches. Fall stressed the importance of affordable, technology-driven solutions to ensure the adoption of nature-based approaches by Africa’s young farmers.

Adesina projected that African food systems could generate $1 trillion in value within the next seven years. To achieve this, he called for increased support and resources for CGIAR, regional research and development institutions like FARA, and sub-regional agricultural research organizations.

The African Development Bank has taken initiatives to enhance food security in Africa, including the Feed Africa Summit held in Dakar, Senegal. Adesina mentioned the successful development of Food and Agricultural Delivery Compacts for 41 countries during the summit, which have mobilized $72 billion thus far with the support of development partners, the African Union Commission, private sector companies, and global and national agricultural research centers.

Adesina presented the 2023 FARA Leadership Prizes for Advancing Agricultural Science, Technology, and Innovation in Africa to esteemed individuals such as Ngozi Okonjo-Iweala, Director General of the World Trade Organization, and Ambassador Sacko. He himself had received the award in 2016.

The 8th Africa Agribusiness and Science Week serves as a platform for stakeholders in agriculture and agribusiness research and innovation in Africa. Held every three years, the event facilitates progress assessment, information sharing, business alliances, and the establishment of joint action priorities. The previous AASW took place in Kigali, Rwanda, in June 2016.


Africa’s Food Systems Forum 2023: Unleashing Economic Opportunities.

Tanzania is gearing up to host the Africa’s Food Systems Forum 2023 Summit in September, an event that will position the country as a hub for agricultural innovation and sustainable food systems while unlocking economic opportunities and attracting investments. With its favorable climate and diverse agricultural landscape, Tanzania is poised to showcase its potential as a key player in Africa’s food industry.

The summit provides an ideal platform for Tanzania to highlight its agricultural potential, including vast arable land, diverse crop production, and opportunities for agro-processing industries. With over 44 million hectares of fertile land available, the country offers significant opportunities for agricultural investment and increased productivity.

Hosting the summit will attract a diverse range of stakeholders, including financial institutions, policymakers, researchers, investors, and entrepreneurs from across the continent and beyond. This presents an excellent opportunity for Tanzania to attract foreign direct investment (FDI) in agriculture and agribusiness sectors. Investments in modern farming techniques, infrastructure, research and development, value chain development, and agro-processing will create jobs, enhance food security, and drive economic growth.

The summit will emphasize the importance of value addition and agro-processing in promoting sustainable food systems. Tanzania, with its abundant agricultural resources, can leverage this opportunity to develop and expand its agro-processing industries. Value addition initiatives such as food processing, packaging, and preservation will enhance the value of agricultural produce, create a robust agribusiness ecosystem, and contribute to export diversification.

Tanzania’s logistics and supply chain infrastructure will also be showcased during the summit, highlighting ongoing investments and improvements in transport networks, cold storage facilities, and trade corridors. This will strengthen the country’s position as a regional trade hub, facilitating the movement of agricultural products within the country and enabling seamless trade connections with neighboring countries and international markets.

The role of technology and innovation in agriculture will be highlighted, providing Tanzania with an opportunity to showcase its innovative solutions in precision agriculture, farm management systems, market linkage platforms, and data-driven decision-making. This will attract investments in agri-tech and accelerate the adoption of modern practices, improving productivity in the sector.

Increased investments resulting from the summit will lead to job creation and income generation across the value chain, particularly benefiting smallholder farmers and contributing to poverty alleviation. By fostering inclusive growth and empowering rural communities, Tanzania can make significant strides in socio-economic development.

In conclusion, the Africa’s Food Systems Forum 2023 Summit presents a unique opportunity for Tanzania to showcase its agricultural potential, attract investments, and promote sustainable food systems. By leveraging this event, Tanzania can stimulate economic growth, enhance food security, and position itself as a regional leader in agriculture and agribusiness. The outcomes of the summit will pave the way for transformative investments, technological advancements, and improved market linkages, ultimately benefiting the country’s economy and its people.

AFD and ECOWAS Join Forces with €20 Million Deal to Enhance Agriculture

French Development Agency (AFD) and ECOWAS Collaborate to Tackle Food Crisis in West Africa

The French Development Agency (AFD) and the Economic Community of West African States (ECOWAS) have recently signed a financing agreement amounting to €20 million. This agreement aims to support the ECOWAS Agricultural Policy (ECOWAP) and address the worsening food crisis in West Africa. The agreement, consisting of two components, was signed in Abuja by Dr. Omar Alieu Touray, President of the ECOWAS Commission, and Xavier Muron, Director of the French Development Agency in Nigeria.

Support to the Local Milk Regional Strategy

Under the agreement, €11 million will be allocated to the implementation of the “Local Milk Regional Strategy.” This initiative focuses on developing local dairy value chains in West Africa. By investing in the local dairy sector, the project aims to enhance productivity, strengthen the region’s dairy industry, and create sustainable livelihoods for farmers.

Support to the West African Food Security Storage Strategy

The second component of the agreement involves allocating €9 million to support the West African Food Security Storage Strategy. This initiative aims to improve food security in the region by enhancing storage capacities and implementing efficient food storage systems. By bolstering storage facilities and practices, West Africa can better manage its food reserves and mitigate the impact of food shortages during crises.

Increased French Support for Crucial Projects

This agreement increases the total French support for the ECOWAP project to €17 million. The signing ceremony was attended by Ms. Chrysoula Zacharopoulou, French Minister of State for Development, Francophonie, and International Partnerships, as well as Ms. Emmanuelle Blatmann, the Ambassador of France to Nigeria and ECOWAS.

Positive Impact and Collaboration

President Touray acknowledged the significant technical and financial support provided by France through the AFD to ECOWAS. This support has contributed to the implementation of ECOWAP, the establishment of the regional energy market, advancements in the health sector, and the development of the ECOWAS Bank for Investment and Development (EBID). The AFD Group has provided a total of €135 million over the past decade, including €75 million in delegated European funds for regional projects and programs addressing critical vulnerabilities and crises in the region, such as food security, livestock and transhumance conflicts, sanitary and phytosanitary surveillance, climate-smart agriculture, and sustainable agriculture.

French Minister of State’s Remarks

The French Minister of State emphasized that the support from AFD is part of collective efforts to strengthen the regional response to food security and nutrition challenges while fostering economic and social development in the region. She highlighted the interdependence between development and stability, stressing the commitment of France and the EU to supporting regional institutions, particularly ECOWAS, in achieving these goals.

Addressing Urgent Food and Nutrition Challenges

The pressing need for action is evident as 13 million people already require immediate food and nutrition assistance. Without decisive measures, this number could rise to 42 million within the next two months. The agreement signifies the joint determination to confront these food and nutrition challenges head-on.

Implementing the Project

The ECOWAS Commission, through its Regional Agency for Agriculture and Food (RAAF), will oversee the implementation of the project. Project activities will extend to the ECOWAS region, including Chad, Mauritania, and Cameroon.

AfCFTA’s success will depend on country collaboration-Expert

In order to facilitate easier payments as the continent seeks free trade, the African Continental Free Trade Area (AfCFTA) Secretariat revealed at the Annual Investment Meeting (AIM Global 2023) in Abu Dhabi that it is working to adopt digital financial services that offer a variety of payment products.

According to Emily Mburu-Ndoria, Director of the Directorate of Trade in Services, Investment, IPR and Digital Trade at the AfCFTA Secretariat, “We are looking at it in terms of emerging technologies and how we can use these financial assets to trade across Africa” when speaking about the agreement.

She stated that the Pan-African Payment and Settlement System (PAPSS), a payment system developed by the organization in partnership with Afreximbank, is the focus of the Secretariat’s efforts. PAPSS enables real-time payments between individuals and countries in local currencies.

AfCFTA is a comprehensive agreement that seeks to unify the markets of all African nations. The creation of a single carbon credit system across the continent is one of the projects. According to officials, if Africa had a single carbon price, efficiency would increase since there would be a single investment program.

How can we achieve the unified African market, which is one of our main goals? said Mburu-Ndoria. “With regards to the issue of investment, we have worked to develop a protocol to harmonize the laws and regulations that are significant in the four areas of investment,” the statement continued. She continued by saying that the AfCFTA would have to make sure that the state parties that approved the agreement put it into practice by harmonizing the continent’s legal framework.

Common investment topics covered by the agreement include investor obligations, investment promotion and facilitation, investment protection, and concerns pertaining to sustainable development. Automobiles, pharmaceuticals, agriculture, and links through logistics and digitalization are the main investment areas.

“It’s not a lack of blueprints that Africa has not yet structured,” Anontio Pedro, acting executive secretary of the Economic Commission for Africa, said. “Currently, we have a better deposit for those long-term structure adjustments. Industrial policy is better accepted today.” He continued: “One of the major failures is indeed our inability to make these movements into transformational changes on the ground. Today, almost everyone is pursuing one form or another of industrial policy.”

ADAFSA Partners with Hub71 to Support Development of Agri-Tech Innovations

To speed the creation and uptake of ground-breaking innovations in agriculture, food safety, food security, and biosecurity, Hub71, Abu Dhabi’s global digital ecosystem, and the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) have signed a partnership agreement.

The alliance will bring together AgriTech industry players to work together to support and enable entrepreneurs in the field of agricultural technology to develop in the industry.

Dr. Mariam Harib AlSuwaidi, ADAFSA’s deputy director-general for operational affairs, and Ahmad Ali Alwan, Hub71’s deputy CEO, signed the contract.

In accordance with the agreement, ADAFSA and Hub71 will connect companies with startups providing technology-based solutions in order to address the issues the agritech sector faces. The agreement is in line with the UAE’s goals for a more sustainable future that safeguards its resources and land, which were declared as the Year of Sustainability in 2023.

Through a mentorship program run by industry experts, startups will also be able to interact with specialists. In order to foster collaborations and encourage new breakthroughs, the two organizations will also work together to establish a robust network of AgriTech stakeholders in business, academia, and government.

The UAE is ranked 23rd overall in the Global Food Security Index (GFSI) for 2022, up 12 spots from 2021. It is also ranked 31st in terms of food affordability, 7th in terms of food availability, 16th in terms of food safety and quality, and 53rd in terms of sustainability and adaptation sub-indicators. The UAE also leads the Middle East and North Africa. The National Food Security Strategy seeks, by 2051, to obtain the top spot in the world food security index by creating a comprehensive national system that enables sustainable food production.

The Director-General of ADAFSA, Saeed Al Bahri Al Ameri, stated, “We are delighted to be working with Hub71 to attract international AgriTech companies to operate out of Abu Dhabi and promote innovative agricultural solutions to support food security and our ambition to achieve first place in the Food Security Index by 2051.”

He pointed out that Hub71 is one of the main projects of “Ghadan 21,” the accelerator program founded in Abu Dhabi to encourage the growth of the emirate as a diverse center of innovation. The collaboration will strengthen the Emirate’s position as a leading source of agricultural innovations for arid regions and solutions to the problems of soil, water, and climate change. Additionally, the programs and incentives offered by the Emirate of Abu Dhabi might benefit foreign companies and creative thinkers.

According to him, the use of modern agricultural technology is in line with the sustainability ideals upheld by the governments of Abu Dhabi and the United Arab Emirates because it provides workable solutions to problems brought on by climate change, rationalizes the use of natural resources, boosts productivity, and improves supply chain efficiency.

The agreement is a tactical move to foster innovation along the producer-to-consumer value chain and to advance long-term food security.

The deal with ADAFSA will enable Hub71 to open doors for AgriTech entrepreneurs to develop ground-breaking solutions that can revolutionize the agriculture industry, according to Ahmad Ali Alwan. AgriTech entrepreneurs are essential to developing solutions that safeguard agricultural supply chains against environmental problems, lowering carbon emissions and promoting sustainable practices as Abu Dhabi reaffirms its commitment to sustainability.

Hub71 will identify and choose the top AgriTech startups from around the globe, giving them access to the ecosystem’s company-building program as well as the cutting-edge research labs and ADAFSA-funded infrastructure throughout Abu Dhabi. This will enable them to make contributions to the advancement of biosecurity systems and the improvement of food quality and safety.

In order to create a broader shared ecosystem for sustainable innovation from the Emirate and to bring stakeholders together in a collaborative setting to interact and transact, Hub71 and ADAFSA will develop a bridge between the government and agritech sectors.

Startups will have access to the larger Abu Dhabi ecosystem through the agreement and will have the chance to collaborate directly with major tech firms, governmental agencies, and investors to develop cutting-edge AgriTech ideas.

The Incentive Programme, Ventures Lab, and engagement platforms and events like Hub71’s Fundraising Roadshow and Demo Days are all accessible to founders, who will also profit from these.

 Commission Charges African Nations On Implementing AfCFTA

The African Continental Free Trade Area (AfCFTA) must be effectively implemented for African countries to speed economic development, according to the Economic Commission for Africa (ECA).

At the start of the third African Trade Policy Centre (ATPC) Steering Committee Meeting (SCM) in Accra, Ghana, Stephen Karingi, Director of the commission’s Regional Integration and Trade Division, made the call.

Karingi stated that Africa would consider its next moves in order to create a market with AfCFTA.

“Thanks to AfCFTA, the continent is no longer a helpless bystander as developed countries pursue their strategic interests at Africa’s expense.

“AfCFTA now offers the perfect platform for Africa to pursue policies of strategic autonomy just like everyone else is doing,” he said.

If completely implemented, the AfCFTA is a development tool that can assist Africa in overcoming a variety of issues, including food poverty, unemployment, marginalization, and health insecurity, among others.

Karingi also stated that “the key to succeeding in this endeavour lies in our ability to use AfCFTA as a platform for Africa’s industrialisation.

“To this end, ECA is supporting several initiatives, including developing the electric battery value chain in the Democratic Republic of Congo and Zambia,’’

The ATPC Coordinator, Melaku Desta, welcomed the committee members and thanked the Canadian government for continuing to support the ATPC for almost 20 years.

Desta expressed gratitude to the ATPC’s supporters, including the AfCFTA Secretariat, AU Commission, Regional Economic Communities (RECs), members of the organized African private sector and civil society, and other Committee members.

He referred to the Steering Committee as ATPC’s main governance structure, which oversaw and advised the organization’s general direction and strategic priorities.

AfCFTA’s significance was also emphasized by Miss Marjorie Cheron, co-chair of the steering committee and a representative of Global Affairs Canada.

AfCFTA, according to Cheron, would be a game-changer since it would provide a single, sizable market and a stable business environment with common standards.

Remove Trade Barriers To Sustain Growth In African Countries- Dangote

Aliko Dangote, a leading businessman in Africa and the president of the Dangote Group, has encouraged African governments to remove all trade and economic barriers to ensure sustainable growth and development on the continent.

The top player in the private sector also reaffirmed Dangote Industries Limited, his pan-African conglomerate,’s unwavering commitment to addressing some of the continent’s and its people’s economic problems.

The organization has invested more than $20 billion in a number of significant African economic sectors in order to achieve this goal.

The large investments, according to Dangote, who disclosed them, are intended to reverse Africa’s economic fortunes in the pursuit of the continent’s sustainable economic growth through free trade and economic integration.

Speaking in Lagos at the launch of a special edition of “The World Ahead 2023” by renowned media outlet The Economist, Dangote, represented by Group Executive Director/Group Chief Risk Officer of Dangote Industries Limited, Dr. Adenike Fajemirokun, stressed that the crucial task of creating a sustainable future that ensures equitable growth and prosperity for all should not be the sole responsibility of the public sector alone but should also involve the private sector.

“Our massive investments of over 20 billion dollars across key industries, including Energy, Agriculture, and Infrastructure. 

“Our recently commissioned 3Million Metric Tonnes’ Fertiliser Plant, expansions in cement production, and our soon-to-be commissioned 650,000 barrels per day world’s largest single-train refinery, are all set to empower farmers, foster backward integration, create thousands of jobs, eliminate our dependence on imported products, and improve our nation’s foreign exchange earnings significantly.

“We are also confronting environmental issues through our investment in alternative fuels, as well as unlocking enormous opportunities in the communities where we have our footprints, while ultimately ensuring that we keep delivering huge value to our shareholders.

“The multilayered issues that we face globally and across regions today, ranging from rising energy costs, food insecurity, supply-chain disruptions, access to quality healthcare, cybersecurity, inflation amongst others brought about by the pandemic or other human factors like the Russia-Ukraine war, call for an objective rethink of geopolitics and geo-economics, especially as they vastly affect policy execution and the ease of doing business in more vulnerable economies,” he stated.

Dangote emphasized that the African population has been expanding enormously, calling attention to the need for all hands on deck to lift Africa above the many socio-economic issues facing the member countries.

“Nigeria, for instance, is projected to be the world’s third largest population by 2050 surpassing the United States, only behind India and China, so the question of sustained economic growth has become increasingly critical and isn’t one for a single sector to tackle alone. To secure the future of our country and our continent we must forge strong public-private partnerships and dismantle regional barriers with vehicles like the African Continental Free Trade Agreement (AfCFTA).” 

He praised “The Economist” for putting the magazine together and called it a great body of work that delivers important data for all sectors to take insights from and synthesize the same in order to arrive at cutting-edge action points.

In his remarks, Dr. Obafemi Hamzat, the deputy governor of Lagos State, referred to the publication as a useful resource for decision-makers and strategic planners and noted that it contains information that supports some of the tactics the government of Lagos State has used to establish Lagos as a top investment location.