Prof. Patrick Lumumba, a renowned Kenyan Scholar, Lawyer and Pan-Africanist, has urged Delta Government and Nigeria to look beyond oil and embrace innovation, research, energy development and stronger African partnerships as pathways to sustainable growth.
Mr Lumumba, a Guest Speaker at the Delta State Economic and Investment Summit on Monday in Asaba, described the summit as a step toward building a stronger economy, not only for Delta but for Nigeria and Africa as a whole.
The summit has the theme,”Harnessing Our Strengths, Unlocking Our Potential”.
He said: “While Africa often boasts about its population of over 1.4 billion people, the real question is how the continent is harnessing that huge population for development.
“We are quick to say that Africa has 1.4 billion people but what are we doing with that population?
“Many young Africans are risking their lives trying to cross into Europe because opportunities are lacking at home.”
Mr Lumumba lauded Delta government for identifying its strengths in oil, agriculture, minerals, the blue economy and other sectors, stressing that true development would depend on the effective management of those resources.
He urged the state and Nigeria to learn from global best practices, saying that Norway’s successful management of oil wealth was through a sovereign wealth fund.
“You are one of the leading oil-producing states in Nigeria. The question is not whether you have resources but how you use those resources to secure the future,” he said.
The scholar said that Delta’s economy was larger than that of more than 20 African countries, adding that such enormous potential should translate into higher living standards and economic prosperity.
He urged the country’s leaders to focus on sectors that would define the future, including technology, artificial intelligence, agriculture, pharmaceuticals and the blue economy.
Mr Lumumba, however, said that Africa remained largely dependent on foreign technology and innovation, including artificial intelligence, and called for greater investment in local knowledge and research.
“The world is talking about artificial intelligence but Africans must ask themselves who controls the technology. We cannot depend entirely on others for our future,” he said.
He said it is time for Africa to harness potentials in its Continental Free Trade Area, saying that Africans must take ownership of the initiative and stop relying on foreign experts to define its economic future.
According to Mr Lumumba, African countries should also begin to see fellow Africans as investors rather than looking only to Europe, Asia and America for investments.
“Our investors are not only in China, Brazil or Europe. Africans themselves have the financial and intellectual capacity to invest in Africa.”
He said that through the Pan-African Investment Movement, other stakeholders and him had been encouraging Africans to pool resources and invest across the continent.
He urged Delta government to attract investors from other African countries, including Kenya, Ghana, Sudan, Ethiopia, Morocco and Egypt to build a stronger intra-African investments and create more balanced and mutually beneficial partnerships with the rest of the world.
“Africa’s development efforts will remain limited unless there is greater regional integration, including easier movement of people, goods and services across the continent,” he said.
He said that Nigeria, as Africa’s largest economy, should champion policies that would make travel, trade and investments easier for Africans.
