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Tag: Africa

  • Adesina: Africa must curb $580b yearly leakages

    Adesina: Africa must curb $580b yearly leakages

    President, African Development Bank (AfDB), Dr. Akinwumi Adesina, has warned that Africa cannot resolve its mounting debt crisis without addressing the massive capital leakages that cost the continent more than $580 billion annually.

    Speaking in an interview with Bloomberg in Maputo, Mozambique, Adesina said Africa’s debt pile is approaching $2 trillion and stressed that corruption, tax evasion, trade misinvoicing, smuggling, and money laundering are major drains on resources.

    “It doesn’t matter how much water you pour into a bucket if the bucket is leaking,” Adesina said. “If you’re able to reduce the leakages to illicit capital, corruption and all of these things, Africa will be able to keep a lot of these resources and meet the amount of infrastructure it needs.”

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    According to AfDB estimates released in May, the continent loses about $1.6 billion daily to “financial leakages,” including $90 billion annually to illicit financial flows, $275 billion siphoned by multinational corporations through profit-shifting, and $148 billion lost to corruption.

    Adesina noted that while concessional financing and debt restructuring remain necessary, reducing outflows is key to funding infrastructure, education, healthcare, and job creation.

    Africa currently faces an annual infrastructure deficit of up to $170 billion, which experts say is critical to close in order to drive sustainable economic growth and employment opportunities.

  • Africa joins global fight against erectile dysfunction

    Africa joins global fight against erectile dysfunction

    To confront the stigma surrounding erectile dysfunction (ED) and encourage men across Africa to seek professional medical help, Global healthcare company, Viatris, has launched a continent-wide campaign, EmpowerED for Life.

    The initiative aims to shift the conversation on ED from embarrassment to empathy by promoting accurate information, encouraging early diagnosis, and advocating safe, evidence-based treatment.

    According to the firm, ED is not only a sexual health concern but also a potential warning sign of serious underlying conditions such as diabetes, cardiovascular disease, hypertension, obesity, depression and anxiety.

    At the campaign’s virtual launch attended by healthcare experts, policymakers, media, and men’s health advocates from across Africa, participants highlighted the alarming prevalence of ED on the continent.

    Studies show that between 43.8% and 58.9% of men in Nigeria community settings live with ED, just as higher rates are reported among men with chronic illnesses.

     In Ghana, the figure is estimated at 65.9%, while across Africa, 85% of men with ED never seek treatment, the experts said.

    Head of India and Access Markets for Viatris, Arvind Kanda, said stigma remains the biggest barrier to care. “The stigma surrounding erectile dysfunction often prevents men from seeking the medical attention they need and deserve.

    “Through EmpowerED for Life, we are promoting awareness, advocating for empathy, and normalizing open dialogue to ensure men have the information and healthcare they need to thrive,” he said.

    The campaign will run in Nigeria, Kenya, Ghana, Senegal, Côte d’Ivoire, and South Africa, using a multi-channel strategy of digital media, community outreach, professional education, and partnerships with healthcare providers.

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    Its four pillars (Awareness, Education, Engagement, and Empowerment) are designed to break down cultural taboos, improve access to care, and strengthen the role of healthcare professionals in men’s sexual health.

    Associate Professor of Surgery, University of Nigeria, Dr. Nnabugwu Ikenna Ifeanyi, stressed that ED is often a symptom of more serious health issues.

    “It can severely impact self-esteem, relationships, and quality of life. Unfortunately, myths, taboos, and a lack of access to trained specialists delay diagnosis and treatment. Campaigns like EmpowerED for Life are vital to breaking these barriers,” he said.

    The programme also warns against the widespread use of unregulated ED treatments in Africa, which can endanger men’s health. Viatris says part of its mission is to promote safe, regulated, and medically approved interventions while expanding awareness of the links between ED and other chronic conditions.

    With projections from the British Journal of Urology International estimating that 322 million men globally will be affected by ED by 2025, Viatris says now is the time to move the issue out of the shadows. The company hopes the campaign will inspire more men and their partners to speak openly about ED and seek timely medical care.

    “Together, we can ensure no man suffers in silence. By breaking the stigma, we can pave the way for a healthier future for men across Africa.”

  • Africa’s next chapter: Leadership, governance and strategy in a changing global order

    Africa’s next chapter: Leadership, governance and strategy in a changing global order

    • By Adefemi Fapohunda

    The era of tariffs, supply chain realignment, and shifting trade agreements has reshaped the rules of global engagement. While it presents its own set of challenges, it also ushers in a new phase of global opportunities where education, technology, research, and entrepreneurship must converge to drive economic growth. In this new era, companies and corporations are increasingly influencing global foreign policy in ways that extend beyond the conventional authority of nation-states. This disruption marks a decisive break from the frameworks that have long governed world trade and development, signaling the dawn of a new economic order one that redefines the principles of commerce, investment, and global cooperation.

    At the wake of this era, Africa stands at the threshold of a historic turning point. The most critical chapter of the continent’s rise is being written not only in boardrooms or government corridors, but in classrooms, innovation hubs, and communities where the next generation of African leaders is being shaped.

    We are entering an era where private capital, public policy, and civic values must align with human capital, innovation capacity, and strong institutions to create solutions that address society’s most pressing challenges. Through strategic diplomacy, these outcomes can be replicated in collaboration with global stakeholders, creating lasting impact across sectors and borders.

    For developing countries particularly those historically dependent on grants, aid, and concessional lending the current global transformation is both a challenge and a generational opportunity. The age of handouts is giving way to an age of fiscal investment value, where measurable returns, transparent governance, and scalable solutions are the currency of global partnership.

    At the heart of this shift is the reality that with a rapidly growing youth population, nations must urgently create pathways that harness this demographic dividend. By investing in education, skills development, and entrepreneurship and by fostering innovation-driven economies, developing countries can transform youthful energy into a powerful engine for sustainable growth.

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    Although Africa must pursue industrialisation to secure long-term prosperity, technology remains a powerful lever to accelerate innovation, enhance productivity, and integrate African economies into global value chains. Africa’s progress depends on bridging business and government to drive systemic, sustainable solutions. Focus should be on systems thinking, forging international partnerships that support local innovation, strengthen governance, and empower the next generation to lead not merely follow. Investment is key to building systems that truly serve the people.

    Systemic investing to mobilise all forms of capital: financial, human, social, natural, and institutional offers a path forward. This approach delivers more than profit; it nurtures democracy, strengthens governance systems, and improves quality of life. Therefore, investing in systems rather than isolated projects recognises that economies cannot thrive without stable institutions. When governance delivers tangible dividends, better infrastructure, equitable access to services, and genuine economic opportunities, it strengthens the social contract and earns the trust of the people. In Africa, where youthful energy is abundant, systemic thinking can channel that energy into innovation, job creation, and nation-building. This is inevitable to survive this next era of global development.

    Africa must embrace strategic diplomatic and lateral alignment rooted in commerce. In a world where multilateralism is under strain, alliances that cut across regions and sectors, government-to-government, business-to-business, and people-to-people will shape the continent’s negotiating power. Strengthening trade agreements and fostering cohesion among African states through frameworks, such as African Continental Free Trade Area (AfCFTA) is essential to enabling the continent to negotiate and compete as a unified economic bloc. This is not simply about securing deals; it is about positioning Africa as an indispensable partner in the reimagined global value chain, with Nigeria demonstrating the capacity to deliver stability and opportunity. The time to move from frameworks to action is now.

    Emerging pathways for Africa’s growth span several strategic, high-impact areas. Supply chain diversification presents a key opening: as major economies seek to de-risk their supply chains, African nations with political stability, competitive labour, and robust logistics can secure stronger positions in global production networks. In bilateral trade and industrialisation, the future will favour countries that negotiate trade deals anchored not only in exports but also in technology transfer, skills development, and infrastructure co-investment. Development finance is evolving, with capital increasingly flowing toward blended finance, impact investing, and sovereign co-funding. This shift makes it critical for African countries to align national strategies with investor priorities, strengthen regulatory frameworks, and develop bankable project pipelines. The green and digital transitions provide twin pathways to leapfrog development. By investing in human capital, digital infrastructure, and innovation ecosystems, Africa can position itself as a leader in sustainable energy, climate-smart agriculture, fintech, and health tech. The possibilities are vast—but translating them into results will require deliberate, coordinated action.

    From Lagos to Kigali, Nairobi to Accra, young Africans are building enterprises, leveraging technology, and driving social innovation. Yet the scale of transformation required demands more than individual brilliance. It calls for leaders who can connect grassroots energy with continental and global platforms, ensuring Africa not only participates in shaping the rules of engagement but also helps to set them. Across the continent, emerging and established leaders are charting new paths, uniting diverse stakeholders, and anchoring strategies in inclusive, future-focused governance. Their collective work is a testament to what is possible when leadership is visionary, accountable, and committed to shared progress.

    Within the present uncertainties lie opportunities for development. Africa’s moment has arrived. The continent must now transition from being seen as a recipient of global goodwill to being recognised as a co-creator of global prosperity. This will require reforms that unlock domestic capital, attract foreign investment, and forge partnerships built on mutual value rather than dependency. The metrics of success in this new era will be clear: governments that deliver dividends to their people, institutions that inspire trust, economies that compete globally, and leaders who understand that strategic relevance not sympathy secures lasting influence.

    The question is not whether Africa’s next generation will rise to meet the challenge, it is whether we will equip them with the tools, trust, and platforms to lead boldly. In this decisive moment, systemic investing, good governance, and strategic alignment are not optional; they are the only paths forward.

    .•Fapohunda is a visiting Fellow at MIT researching systemic investing in Africa at Sloan Sustainability Initiative..

  • Africa minerals strategy group hosts 2nd high-level roundtable

    Africa minerals strategy group hosts 2nd high-level roundtable

    In a bid to forge a common continental voice on minerals development, Africa Minerals Strategy Group (AMSG) will host its second High-Level Roundtable Event on Critical Minerals Development in Africa on September 22, 2025, in Manhattan, New York. 

    The talk shop, with the theme, “Forging a common African voice, advancing global partnerships”, will be holding on the sidelines of the 80th United Nations General Assembly. 

    A statement by the AMSG Secretary-General, Moses Micheal Engadu said the high-level event will convene African Heads of State, ministerial representatives, multilateral institutions, and global private sector executives to address Africa’s pivotal role in the burgeoning critical minerals economy.

    The statement reads: ” the roundtable will be convened by His Excellency, Bola Ahmed Tinubu, GCFR, President of the Federal Republic of Nigeria and Event Chair, alongside the leadership of the Africa Minerals Strategy Group represented by Dr. Oladele Henry Alake, Chairman of the AMSG and Honourable Minister of Solid Minerals Development, Federal Republic of Nigeria and His Excellency Moses Micheal Engadu, Secretary-General of the Africa Minerals Strategy Group (AMSG).

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    “The upcoming second edition will build on this legacy by deepening the discussions and commitments forged during the first gathering, furthering Africa’s position as a strategic and indispensable partner in the global critical minerals landscape.

    “Africa’s critical minerals are not just a resource; they are the foundation of global sustainable development and a catalyst for our continent’s industrialization,” stated Engadu.

    He further said,  “This high-level roundtable is a crucial step in harmonizing our policies, mobilizing essential capital, and ensuring that our mineral wealth truly benefits African people while fostering transparent and responsible global partnerships.

    “The Second AMSG High-Level Roundtable will include ministerial representatives from AMSG member states, multilateral institutions, and invited private sector executives from global mining, tech, traceability, and logistics firms. 

    The AMSG Roundtable is strategically partnered and supported by Core International.”Core International is proud to once again collaborate with the AMSG to support this vital platform”, added Suleiman Zakari, Managing Partner of Core International. 

    “The AMSG roundtable is a unique opportunity for private sector leaders to do more than just talk about Africa’s mineral potential. It’s a chance to build tangible, high-impact partnerships. The previous editions at AFNIS, FMF, & UNGA demonstrate that this platform delivers real results. 

    The Africa Minerals Strategy Group was established in January 2024 by African Ministers of Mining as an intergovernmental organization and continental specialized agency for critical minerals development in Africa, the AMSG has rapidly become Africa’s principal inter-governmental platform for coordinating critical minerals policy, investment alignment, and global engagement. 

    Its mission is to ensure Africa reclaims agency over its mineral wealth and plays a leading role in the global mineral economy and supporting the energy transition..

  • Securing Nigeria, Africa, our top priority, says CDS

    Securing Nigeria, Africa, our top priority, says CDS

    The Chief of Defence Staff (CDS), Gen. Christopher Musa, says the military would do everything possible to secure Nigeria and the African continent against security threats.

    Speaking on Wednesday during a press conference on the forthcoming Maiden African Chiefs of Defence Staff Summit slated for Aug. 25 to Aug. 27, the CDS said Nigeria had, over the years, demonstrated readiness to protect its sovereignty, support neighbours, and contribute to peace and stability efforts across the continent.

    He said the theme of the summit, “Combating Contemporary Threats to Peace and Security in Africa,” was carefully chosen in order for the African Defence Chiefs to brainstorm to find solutions to the continent’s security challenges.

    He said, “We have invited all 54 African countries, and I am pleased to announce that we have recorded over 90 per cent attendance. This reflects our shared recognition of the need to unite against common threats.

    “Our goal is to strengthen rapid crisis response capabilities, establish joint training exercises, enhance intelligence sharing, and develop a unified continental strategy to address our security challenges.

    The CDS emphasised the importance of solidarity, mutual respect, and cultural understanding among African nations, noting that Africa’s security was directly linked to its economic growth and development.

    “A secure Africa is a prosperous Africa. We must step up, work together as brothers and sisters, and act now before it is too late. Our collective will is our greatest weapon,” he said.

    The CDS commended President Bola Tinubu for his renewed commitment to strengthening Nigeria’s security posture and for supporting initiatives that promote regional peace and stability.

    According to him, the summit is an opportunity to forge lasting partnerships, pool resources, and ensure that Africa is prepared to respond effectively to any crisis.

    Gen. Musa said Nigeria is rebranding its Defence Industries Corporation to standardise local production, strengthen security, and boost indigenous military capacity.

    He said the new approach would ensure all companies producing defence-related equipment work under the Defence Industries Corporation, with mandatory approval from the National Security Adviser’s office and the Ministry of Defence.

    He noted that Nigeria had begun procuring armoured vehicles, drones, and other military hardware from local firms such as ProForce and Imperium, while also retrofitting damaged equipment to extend service life.

    The CDS said the move would not only enhance national security but also create jobs, open export markets to neighbouring countries, and instil national pride in homegrown defence capabilities.

    He said, “We want to synergise and harmonise their work, standardise it, and make sure the equipment we produce does not get into the wrong hands.

    “We have the ProForce, we have the Emperium, and EPAIL. We have so many of them that also produce one or two things together.

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    “Now, what we are doing is, we are rebranding the entire defence industry corporation so that all companies that are coming to work on anything defence must have approval.

    “Why we need to do that is so that we can synergise and harmonise their work, standardise it, and make sure that the equipment we produce does not enter the wrong hands.”

    Musa said that producing defence equipment locally would help enhance capabilities and create employment for Nigerians, adding that it would be a win-win situation for the country.

    On regional cooperation, Musa emphasised the need for African countries to work together against asymmetric threats, which he said “do not respect borders,” and called for stronger collaboration through the African Standby Force.

    “Despite our different doctrines, we are able to work together as Africans, neighbours, brothers and sisters to achieve common security goals,” he said.

  • Digital fair to shape Africa’s workforce future

    Digital fair to shape Africa’s workforce future

    Africa’s digital economy is set to receive a boost this August as Lagos hosts the inaugural Digital Professional Fair.

    A three-day event aimed at empowering the next digital talent in Africa, the fair, convened by renowned strategist and tech advocate, Tutu Adetunmbi, is a response to the demand for skill-building, visibility, and economic inclusion in Africa’s fast-evolving digital landscape.

    Students, freelancers, and professionals are expected to unlock pathways to opportunity and growth in the digital space.

    “This is more than a conference—it’s a movement. We’re building a bridge between potential and opportunity. The digital economy is not the future, it is the now. And Africa’s talent must be equipped, celebrated, and given the platforms to shine,” he said.

    Read Also: Continental Cups: Nigerian Clubs await  Preliminary Rounds’  foes

    The fair spans three days, each tailored to a specific stage of the digital journey. The first day will centre on young talents; 18 to 24, equipping them with foundational digital skills, career guidance, and access to job and internship opportunities.

    On the second day, the spotlight shifts to freelancers and early-stage entrepreneurs, offering insight into business development, pricing, and client acquisition to help them grow.

    The final day will target professionals and business owners over 30, with sessions dedicated to executive leadership, investor engagement, and strategies for cross-border expansion.

  • Aircraft manufacturers jostle for Africa

    Aircraft manufacturers jostle for Africa

    The struggle for market dominance among leading aircraft manufacturers has intensified in the global air travel eco -system.

     This follows  the manufacturers’  unveiling of different strategies aimed at  consolidating their footprints in frontier markets in Africa, including Nigeria.

    The manufacturers: Airbus, Boeing , Embraer and Bombardier are latching on  aircraft delivery, setting of service centers, partnerships for aircraft maintenance centres , training of pilots and other technical personnel in Africa to out- rival one another.

    Investigations reveal that over  40 airlines in Africa , including Nigerian carriers  operate more than 260 Airbus aircraft.

    Findings by The Nation reveal that there are over 500 Boeing airplanes  operated by African carriers. This represents nearly 70 per cent  of the regional market.

     There are nearly 200 Embraer aircraft flying across the continent, ranging from the smaller and older EMB-120 to the larger and more modern E195-E2.

    Investigations reveal there are 69 Bombardier Q400 aircraft in service with over 20 operators across the African continent.

     Additionally, 58  Bombardier CRJ Series aircraft are in operation with 21 African carriers.

    To dominate the skies, aircraft manufacturers are  introducing different incentives , including the introduction of new models of aircraft types to carriers on the continent, including Nigeria which have heterogenous airplanes in their fleet.

    Nigerian carriers : Air Peace, Ibom Air, United Nigeria Airlines, Rano Air, Aero Contractors, Arik Air, AZMAN, Green Africa Airways, Xejet Airlines, NG Eagle Airlines, Pioneer Airlines, Air, Max Air, Cally Air, Enugu Air, UMZA Air, Overland Airways, Value Jet Airlines and others have a mixed fleet of Boeing, Bombardier, Embraer and Airbus aircraft.

    Read Also: NAF sets Q4 to make all aircraft airworthy, says CAS

    While Boeing Corporation and Embraer has some technical  partnership with Air Peace, Airbus on its part has partnership with Ibom Air, with possibilities of inking technical deals to rev up the Akwa Ibom State Maintenance Repair and Overhaul Facility (MRO), in Uyo , the state capital.

    United Nigeria Airlines, on its part is consolidating discussions with the Brazilian aircraft maker : Embraer for the setting up of an aircraft repair centre in Nigeria.

    Arik Air in the last few years had strong technical partnership with the Canadian aircraft maker : Bombardier and Boeing.

     Experts say countries in Africa, including Nigeria is increasingly coming under focus as airlines acquire more economically efficient and environment friendly  aircraft to grow their fleet.

    Speaking in an interview, President of Airbus in the Middle East and Africa, Gabriel Semelas said Airbus has been present in Africa since 1976, when the first A300 was delivered to the continent.

    His position aligns with the the company’s Global Services Forecast.

     Airbus foresees in the next 20 years on the African continent, a need for 14,000 new pilots and 21,000 mechanics and engineers to face the surge in air travel demand.

    Only last week, Airbus opened a new customer service centre in Johannesburg, South Africa in

     significant move to  boost its commitment to African aviation.

     The  strategic move, coming  nearly five decades in the making, brings comprehensive technical assistance, engineering, maintenance, and training services closer to the continent’s growing airline operators, covering all Airbus commercial aircraft families.

    This expansion, alongside 30 years of Airbus Helicopters’ service in Southern Africa and ongoing support from Airbus Defence and Space, solidifies Airbus’s role in fostering job creation, skills development, and economic growth across the continent through its extensive industrial presence and local partnerships.

    The facility, the official said will bring Airbus closer to airline customers across the continent, enhancing customer proximity and offering a full range of services to help operators maintain safe, efficient, and reliable fleets.

    The centre,  he said  will provide technical assistance, engineering and maintenance solutions, fleet performance analysis, training services, and on-site customer support for all Airbus commercial aircraft families, including the A220, A320, A330, and A350.

    Semelas said :“The new centre expands Airbus’ presence in Africa and underscores our confidence in the region’s potential, as we invest in local capabilities, empower our customers, drive connectivity and shared progress across the continent.”

    On its part, Brazilian aerospace giant Embraer  said it is considering setting up a production or assembly facility in Tunisia as part of its strategic plan to diversify its supplier base and expand production capacity.

    Embraer has been present in Africa for several years and looks to grow its original equipment manufacturing  capabilities.

    While Tunisia is not home to any Embraer operators at the moment, the hub would support Embraer operations across Africa, the Mediterranean, and Europe.

    Embraer already has a large market share in Africa, and the new industrial presence will boost its growing footprint on the continent.

    Embraer’s Vice President of Africa, Francisco Moraes  confirmed the development.

    The official said the company’s team is assessing the feasibility of integrating the Brazilian manufacturer’s expertise into Tunisia’s national aerospace ecosystem, as Tunisia joins Embraer’s global value chain.  The Embraer delegation has  examined  the North African country’s industrial capacities, particularly in subcontracting, engineering, and skilled labor.

    Tunisia  has over 80 aerospace companies, with over 17,000 workers in the aviation sector.

    The country’s strategic geographic location close to Europe, fiscal incentives and specialized infrastructure,  makes  it more attractive to major international contractors.

    Embraer already holds a substantial market share in Africa, with many operators preferring its regional jets on short-to-medium-haul routes.

     A new aircraft production or assembly facility will mark a strategic turning point for the country’s aerospace industry, solidifying its role in the global value chain and generating significant economic and technological benefits.

    Boeing on its part,  also opened an office in South Africa to allow it work closely with over 60 airlines on the continent,  forge strategic partnerships, enhance safety standards and contribute to the ongoing efforts to expand Africa’s aviation industry, which is a key driver of the region’s economy.

    Boeing also has field service representatives stationed with airlines in Algeria, Egypt, Ethiopia, Kenya, Morocco, South Africa, Tanzania and Togo.

    Managing Director of Boeing Africa,  Henok Teferra Shawl said: “Africa is among the most promising markets in terms of economic and business growth. Being closer to our customers, government stakeholders, and suppliers will enable us to develop solutions that best address the needs of Africa’s aviation sector.”

    As the leading provider of commercial airplanes in Africa, Boeing also works closely with airlines to modernize fleets and strengthen safety standards. Through training, digital tools and collaboration with aviation authorities and organizations such as the African Airlines Association (AFRAA) and the International Civil Aviation Organization (ICAO), Boeing supports the continent’s efforts to enhance regulatory alignment, improve operational efficiency and ensure safe air transport operations.

    Boeing has been instrumental in fostering the growth of Africa’s aviation industry  investing in the talent pipeline, promoting innovation, aiding the development of the industrial base and advocating for market liberalization and free trade.

    Boeing collaborates with suppliers in Ethiopia, Morocco, and South Africa, with partnerships valued at around $40 million. Since 2008. Boeing has invested $22 million in joint efforts with academia and non-profits to support systemic improvements in education and economic empowerment in Africa.

    Canadian aircraft maker : Bombardier, on its part  continues to  increase  its presence and influence in the African aviation market, particularly with its Q400 turboprop and regional jet family.

     This expansion includes establishing service facilities, such as the one in Addis Ababa with Ethiopian Airlines, and strategically focusing on regional connectivity and growth opportunities on the continent.

    Bombardier has been adding to its support network in Africa, with Ethiopian Airlines being a key example of an authorized service facility.

    The CRJ family of regional jets, which Bombardier pioneered, is seen as a strong asset for the African market, contributing to intra-regional connectivity.

    The Q400, with its versatility and cost-efficiency, is another key part of Bombardier’s strategy, particularly for operators in Africa.

    Bombardier anticipates significant growth in African intra-regional connectivity, expecting a tripling of routes in the next 20 years, potentially involving hundreds of regional and small single-aisle aircraft.

  • Dangote: Offshore Lomé fuel market biggest threat to Africa’s refining independence

    Dangote: Offshore Lomé fuel market biggest threat to Africa’s refining independence

    Africa’s leading industrialist, Aliko Dangote, has identified entrenched interests behind the offshore Lomé fuel trade as the greatest obstacle to Africa’s quest for refining self-sufficiency.

    Speaking at the West Africa Refined Fuel Market: Pathway to Regional Reference Market energy conference, Dangote warned that international traders operating a “fraudulent floating market” off the coast of Togo are actively undermining local refining efforts to protect their profits.

    “Another major barrier is the offshore Lomé floating market—a uniquely African phenomenon,” Dangote said. “International traders maintain floating storage of over 2 million tons of petroleum products offshore Lomé. This was being sold at inflated prices due to the absence of local refining capacity. The moment our refinery came on stream, they slashed prices to maintain their grip.”

    The founder of the now-operational $20 billion Dangote Refinery said these interests would resist any disruption to the status quo, no matter how beneficial it may be to the region.

    “Make no mistake,” he cautioned, “those who profit from this system will do everything they can to prevent other refineries from emerging. Building a refinery threatens powerful interests, and they will fight back aggressively.”

    Dangote also used his address to highlight the journey and challenges his company faced in delivering the 650,000 barrels-per-day refinery, the world’s largest single-train facility. He outlined the obstacles in three categories—technical, commercial, and contextual—stressing that the contextual hurdles, rooted in corruption and rent-seeking behaviour, proved the most difficult to overcome.

    He urged policymakers, regulators, and industry leaders across the continent to support efforts that promote refining capacity and break the region’s dependence on foreign-controlled supply chains.

    “Beyond infrastructure deficits, the most formidable challenge we faced was entrenched rent-seeking within the petroleum value chain across many African countries,” he said. “This sector has historically been a major avenue for corruption and rent extraction. That system resists change.”

    Dangote noted that at the peak of construction, no foreign contractor was willing to take on the project. “They say Africa is very risky. They didn’t want to come to Nigeria to build a refinery,” he said. “So we had to take up the role of EPC contractors ourselves.”

    He recalled how his team had to import over 150,000 containers, 2,600 heavy equipment units, and build a dedicated seaport because over 60% of the refinery components could not pass through existing Nigerian ports. “Let no one underestimate the complexity of building a world-class refinery,” he warned.

    He praised the Nigerian National Petroleum Company Limited (NNPC) for making crude oil available but criticised International Oil Companies (IOCs) for their lack of cooperation.

    Read Also: Dangote urges wealthy Nigerians to invest in Nigeria

    “The IOCs have been the most difficult in our journey. Even after securing the crude, transporting it became another bottleneck,” he lamented. “Skyrocketing port charges made up about 40% of total freight cost. That is, two-thirds of the cost of chartering a vessel with crew, insurance and fuel included.”

    Despite these odds, the Dangote Group has begun exporting petroleum products. “From early June to date, we have exported about 1 million tons of PMS. This is equivalent to 50 days of consumption,” he said.

    Dangote called on African governments to do more than issue refining licenses. They must enforce compliance.

    “To those who say monopoly, I say let others build refineries too,” he challenged. “Encouraging other people to build refineries is the job of the NMDPRA and also the government. Anyone who has collected a license and isn’t using it, revoke it or put a yearly penalty on it.”

  • Bamako summit revives Africa’s call for colonial reparations

    Bamako summit revives Africa’s call for colonial reparations

    Africa’s longstanding call for colonial reparations was revived at an international roundtable held in Bamako, Mali, where experts, politicians, and civil society leaders demanded compensation from former colonial powers for centuries of exploitation and injustice.

    In a communique issued after the meeting themed “Colonial Crimes: It’s Time for Compensations,” participants emphasised the need for formal recognition of colonial damage as a basis for reparations, the strengthening of legal frameworks, and the calculation of economic losses suffered by African nations.

    The communique criticised the International Criminal Court for failing to deliver fair and impartial justice, describing its actions as politicised and ineffective in addressing Africa’s historical grievances.

    It also highlighted the potential role of the African Court on Human and Peoples’ Rights in advancing reparative justice on the continent.

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    According to the communique, the roundtable brought together Chairman of the National Transitional Council’s Commission on Agriculture, Mohamed Ousmane Ag Mohamedoun Haidara; Vice Chairman of the Commission on Security, Ousseynou Ouattara; Chairman of the Commission on Territorial Administration, Youssouf Coulibaly; Historian, Amadou Diaw; President of the African Court on Human and Peoples’ Rights, Modibo Sacko; journalist and author, Daouda Naman Tékété; and co-founder of the Pan-African International Organisation (OIP), Assane Seye.

    The communique emphasised that the roundtable marked an important step towards uniting African voices in the push for historical justice and building a roadmap to hold former colonial powers accountable.

  • Africa’s governance deficit

    Africa’s governance deficit

    Its persistence seems to worry the World Bank which has again advised on the way out

    Last week, the World Bank released 2024 Country Policy and Institutional Assessment (CPIA) Report for Sub-Saharan Africa. Its central submission was on the urgent need for African countries to address persistent governance deficits that continue to impede the efficient delivery of qualitative social services to their people.

    The bank urged African governments to rebuild trust between states and citizens by transforming how essential services are delivered if understandably frustrated and dispirited citizens are to regain their trust in the system.

    It noted that the impressive achievements made by a few countries in enhancing fiscal discipline, digitalisation and social protections pale into insignificance against the widespread low quality of governance in Sub-Saharan Africa and the consequent devaluation of the living standards of their citizens. The Report states that “From infrastructure to health and education, African nations are falling behind. Inadequate transport systems and poor sanitation continue to impede economic activity and degrade living conditions. Meanwhile, the human capital base — vital for long-term growth — remains stunted due to substandard schools and healthcare.

    The report also points to soaring insecurity, noting a near tripling of conflict-related casualties between 2014 and 2024. Administrative inefficiencies further erode confidence, particularly in areas like business registration and access to finance, critical for job creation and private sector growth”.

    True, the report acknowledges efforts made through fiscal reforms in a number of African countries to reduce or eliminate wasteful fuel subsidies, strengthen exchange rate management, enhance greater transparency and improve the efficiency of social protection measures, among other reform initiatives. Indeed, the bank is one of the International Financial Institutions (IFIs) that had persistently pushed for these reforms in Africa despite fears of most political leaders on the consequent hardships they would impose on citizens and the possible negative consequences for political stability and social harmony.

    It is thus instructive that the bank now emphasises the imperative for African governments to translate gains of reforms into concrete impact on the welfare of their citizens stressing that “lasting development must go beyond economic statistics — it must restore trust in government by ensuring that citizens can see and feel the impact of policy decisions in their daily lives”.

    Incidentally, there is really nothing new about the observations and recommendations of the report on the continuing challenges of democratic governance, efficient public administration, better transparency and accountability in the management of public resources and improved social services delivery as well as infrastructure provision in Africa.

    It is indeed dismaying that this has been the recurrent theme of both external and internal African development institutions for the better part of the continent’s post-independence history, with only minuscule progress made in this regard. Whatever advances are being made in a number of African countries in improving the welfare of the majority of their citizens, alleviating poverty and enhancing prosperity through good and effective governance are too limited in scope and too slow. Thus, Africa remains a pathetic paradox of a continent rich in mineral and natural resources but with a population plagued by the worst cases of poverty in the world.

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    According to a global development journal, OutReach International, in 2024, Africa had “the highest poverty rates, globally, with 23 of the world’s 28 poorest countries which have extreme poverty rates above 30 percent. Using the poverty line of $1.90 per day, Africa’s extreme poverty was recently estimated to be about 36.5 percent. This rate is 6.6 percent higher than the average for the rest of the world”.

    Corroborating this submission, another report states that “In 2024, Sub-Saharan Africa accounted for 16 percent of the world’s population, but 67 percent of the people living in extreme poverty. Two thirds of the world’s population in extreme poverty live in Sub-Saharan Africa, rising to three quarters when including all fragile and conflict-affected countries. About 72 percent of the world’s population in extreme poverty live in countries that are eligible to receive assistance from the International Development Association (IDA)”.

    The inability of governments across Africa to effectively mitigate the challenge of poverty among the majority of their people weakens the legitimacy of the state and political leaders among their citizens. Indeed, confidence in the developmental potential of democracy as a system of government on the continent is shaken since, in most cases, democratically elected governments have proven not necessarily better in providing good, development-oriented governance than dictatorial governments. This is obviously responsible for the embarrassing situation whereby citizens flock the streets in jubilation when military usurpers have overthrown democratic governments as has recently happened in Mali, Niger, Burkina Faso and Guinea. Unfortunately, military rule is no credible alternative to democracy, as embedded in the fabric of any form of dictatorship are the inevitable seeds of instability since authoritarian rule provides no ordered and predictable mechanism for peaceful political change.

    Poor governance as a result of lack of leadership accountability, absence of transparency in the management of public resources and disregard for the rule of law and social justice in most African countries compound the problem of the humongous corruption for which the continent’s leaders are notorious. Because of the criminal diversion of the communal resources that ought to be invested in qualitative education and health services, efficient electricity supply, modern transport infrastructure as well as agricultural and industrial productivity to generate jobs on a massive scale, into private pockets, substantial numbers of people in Africa sink deeper into poverty.

    Worsening poverty accompanied by gross inequality between a few affluent families and millions of impoverished citizens in turn provide a fertile breeding ground for the pervasive violence such as terrorism, banditry, human trafficking and religious extremism that afflict large swathes of Africa. Poor governance has thus become an existential issue having serious negative implications for the dignity, wellbeing, security and sovereignty of African countries, and deserving urgent remedial action as the CPIA Report rightly affirms.

    Efforts must therefore be intensified to strengthen and expand democratic governance across Africa, reform and continually improve electoral systems to deliver credible elections and accountable governments, as well as nurture vibrant and virile but responsible civil societies that can check authoritarian inclination of leaders.

    The mass migration of young Africans in particular to more economically prosperous climes that is generating a negative backlash of forced emigrations in the United States and across the West, with negative implications for Africa’s image is largely a function of the low quality of governance that has impeded the actualisation of Africa’s immense potentials.

    We agree with the 2024 CPIA Africa Report which “underscores the urgent need for transparent management of public resources and effective delivery of quality services to address growing dissatisfaction and enable citizens to reach their full potential.”