The Nation Newspaper

Tag: WEF

  • Okonjo-Iweala, where are our girls?

    SIR: The spontaneous uproar for the release of nearly 300 Chibok girls abducted from their Secondary School has done a lot of good. It has exposed the extent to which the Jonathan government has failed in its primary responsibility of protecting the lives and property of citizens, given that every other aspect of a good government remains secondary.

    We have seen how governments all over the world, especially those that we look up to, display uncompromising integrity and pride in the defense and security of their people. They pursue all political angles in order to protect the life of every one of their citizens. All political affiliations are secondary to the preservation of national pride and the contract between them and their electorate. The Israelis are well known for that, and only recently, the US government set an example by securing the release of one Marine, Sgt. Bowe Bergdahl. They released five (5) Taliban militants in exchange. Clearly, this demonstrates the high position on which they place the respect and love for their people. In Nigeria’s case is, this is a lot different.

    Last month when Abuja hosted the World Economic Forum (WEF), the international community lashed out at the President over his lackadaisical attitude to the plight of the abducted girls and that of their parents.  Just like a wingless bird, the claims by the government’s spokespersons that the President is concerned about the tale of the girls just could not fly. This was especially so in the face of notorious evidence to the contrary. So many questions posed by hosts of TV programmes about the President’s commitment and readiness to combat the hydra-headed monster of insurgency, especially the one waged by Boko Haram were either evaded or to the utter dismay of millions of viewers and the presenters, or  abrasively answered in an unsatisfactory manner.

    Barrage of attacks on the President and his administration have poured in, left, right and center from within and outside the country. Spokesmen for the government have taken turns to feature in prepaid interview sessions, whereupon they are saddled with the choice of either being the kings of their own silence or the slaves of their own false words.

    Amongst the many interviews that have featured is the one between Richard Quest and the Finance Minister, Dr. Ngozi Okonjo-Iweala on the programme “Best of Richard Quest”. In that memorable episode, even though it is in sharp contrast to what is clearly demonstrated by the actions of the government as proven by its many lies and misdirected anger at the people of Nigeria for demanding action from an inept administration, Dr. Iweala stood stoutly in defence of her Principal’s effort and commitment to the search for the abducted Chibok schoolgirls. As the interview progressed, so many things were revealed. Dr. Ngozi in her responses, frequently reminded viewers that she’s not a spokesperson for the government, but clearly at liberty to speak in its defence. She expressed her disgust for the unprecedented media attention and the constant searchlight beamed on the activities of the government she represents. She charged at Richard Quest by stating that: “Long after the limelight and long after CNN has ceased to cover the issue, we will continue to look for them”.

    And prophetically so, more than 80 days since the girls went missing, the parents of those girls and the nation are still waiting and hoping for their return. As each day passes by, and the whereabouts of the girls still unknown, we all must wonder why the minister asserted that the search will take so long. The CNN would forget. So, Madam minister, now that it is evident that you were right, when should we expect their return?

    • Lami Ladan

    Gwarinpa Estate, Abuja

  • Benefits of 24th WEFA to Nigeria

    Benefits of 24th WEFA to Nigeria

    The 24th World Economic Forum (WEF) on Africa, which took place from May 7 – 9 in Abuja, under the theme, ‘Forging inclusive growth, creating jobs’ has been described as the most successful.

    The Forum brought together leaders from politics, business and civil society to debate ways to tackle Africa’s biggest challenge, namely  creating a continent of increased prosperity and strong communities; of strong governments delivering quality services and leaving no one behind.

    It was the first time the global event took place in West Africa since the African edition was convened in Switzerland in 1990.

    It is instructive to note that from its nascence in January 1971, when a group of European business leaders met under the patronage of the European Commission and European industrial associations in Davos, Switzerland, the vision was not for a global institution. Rather, it was to introduce European firms to American management practices, which places premium on employees and the social communities within a firm’s environment.

    The maiden gathering, chaired by the German-born Klaus Schwab, then Professor of Business Policy at the University of Geneva, was subsequently incorporated as a not-for-profit Foundation under the name, ‘The European Management Forum.’ Steadily, the Forum expanded its focus from management to economic and social issues, and political leaders were invited for the first time to Davos in January 1974.

    In 1987, the Forum changed its name to the World Economic Forum to reflect its expanding scope and transformation from a European to truly global organisation.

    Since its establishment, the WEF meetings are distinguished by the active participation of government, business and civil society figures, both the most experienced and the most promising, all working together in the collaborative and collegial spirit of Davos.

    The quest for Nigeria’s hosting of the event began at the 22nd WEFA in Addis Ababa, Ethiopia in 2012; it was galvanised in Cape Town, South Africa in May, last year, when President Goodluck Jonathan, led a high-powered government and private sector delegation to the 23rd edition of the forum.

    When Nigeria’s slot for hosting the event was fully stamped in Davos, Switzerland in January this year, the Coordinating Minister of the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, said the august event was coming at a time Nigeria is becoming more integrated into global capital markets and when the country’s aspirations to attract foreign investment into non-mineral sectors is becoming increasingly viable.

    In a statement before the meetings, Philipp Rösler, the Managing Director and Member of the Managing Board of the World Economic Forum indicated that his organisation was not in Nigeria for political endorsement or political point-scoring, but because the country has a great role to play in building a better, more equitable Africa. According to him, “Nigeria is a country that not only embodies the hopes and challenges of a whole continent, but could actually determine them.”

    Rösler further stated that although Nigeria has done very well within the period under review, the country’s biggest mistake has been its failure to communicate its successes. To him, the country should be held accountable where necessary, but also praised when its actions serve as a role model for other African countries. Statistics show that in the 1990s, Nigeria’s economy was shrinking and on the verge of collapse with a growth rate of about 2.5 per cent between 2003 and 2006. However, over the past decade, Nigeria has seen a turnaround of vast significance with an average growth of seven per cent per year, which has enabled the creation of 1.6 million new jobs per year. Although there is still not enough to offer work to the 1.8 million young people that enter the labour market yearly, it suffices to bring the target within reach.

    Veritably, the WEFA Abuja provided a platform for Nigeria to take the conversation further on how to build more credible institutions for a social protection programme, an expansion of healthcare and a long-overdue overhaul of the education system.

    President Jonathan stated in his opening address, alongside the Premier of the People’s Republic of China, Mr. Li Keqiang, that the fact that more than 1,000 people from over 70 countries turned up for the meetings despite all the issues, media reports and facts was a sign of the confidence we all have in this great country. He declared that as a people and an international community, we cannot allow terrorism to dictate our agenda.

    Most importantly, Mr. President said for Africa to remain relevant, we need to adequately educate our people, as it is through education that we can unlock the potential of our youth to enable Africa to compete globally and create jobs in the new knowledge economy.

    In his closing remarks, Rösler said Nigeria and, indeed, Africa should be proud of the outcome of the  meeting as it was the most successful so far comparing only to the Davos edition.

    According to him, the meetings fully achieved the WEF mission towards the commitment to the growth of the world through creation of community of interest, community of purpose and community of exchange.

    Complimenting the organisers, Ms. Elzie Kanza, the Director and Head of Africa WEF indicated that in global media reach, the WEFA Abuja generated an unprecedented 48, 000 articles in its three days, which was three times more than what the 23rd WEFA in Cape Town, South Africa last year generated. It also attracted more than 1000 participants – far above the average of 700 participants for the regional meetings and received 50,000 social media hits that translated to a total reach of over 2.1 billion, which is about 30 per cent of world population.

    In tangible terms, the WEFA attracted over $68 billion (about N12.9 trillion) in investment to the African continent in the form of Foreign Direct Investments (FDI) as well as private and public investments targeted at projects that would foster the agriculture sector, improve infrastructure such as roads, railways, hospitals, education, skill development and ICT across African countries.

    Remarkably, the meeting birthed an institutionalised response to the abduction of over 200 schoolgirls in Chibok, with the creation of a $20billion ‘Safe School Initiative Fund’ by the UN Special Envoy for Global Education, Mr. Gordon Brown, to develop and enhance education in the terrorism-ravaged areas of Nigeria. The Federal Government has committed $10billion to this Fund while the balance comes from the UN.

    In conclusion, the immediate outcome of the 24th WEF, beyond just money, brought opportunities for Africa, which the WEF was set up to unlock for the improvement of the states of Africa. It has proved also that there is a strong commitment between the private and the public sector to collaborate regionally and globally in the fight against poverty, social exclusion, and terror in Nigeria and the rest of Africa.

     

    • Moghalu is Head, Corporate Communication Department,

    Nigerian Export-Import Bank (NEXIM).

  • Africa must source agric funds from capital market – Adesina

    The Minister of Agriculture, Dr. Akinwunmi Adesina, on Thursday urged African leaders to seek agricultural development funds from the continent’s emerging capital market.

    Adesina made the appeal for agricultural development and inclusive growth at the ongoing 24th World Economic Forum (WEF) on Africa, with theme: “Forging Inclusive Growth, Creating Jobs,” in Abuja.

    “Agriculture has all it takes to drive the inclusiveness needed in the positive economic growth witnessed on the continent.

    “African leaders must ensure that they leverage the private sector to ensure effective participation in the programme and also raise money from various domestic capital markets to support the sector.

    “The bond, equity market and the unused pension fund, in the case of Nigeria, could be used to see how to make agriculture a business for the youth to buy into,’’ he said.

    He also urged international financial institutions like African Development Bank (AfDB) and World Bank to assist in the continent’s effort to develop agriculture.
    On Nigerian government efforts in agriculture sector, the minister said that about four billion dollars had been invested in the sector in the last two years.

    According to him, five per cent of the bank lending goes to the sector and about 80 seed company have benefited from various supports.

    Adesina also said that eight million farmers had so far benefited from the e-wallet system of the ministry which focuses on sharing fertilisers and seeds across the country.

    “More that 10 million farmers has been registered in the biometrics system and linked to the National Identity Management Commission and they have been able to produce 16 million metric tonnes of food in two years.

    “We have to commend Nigeria government because we are the first to launch e-wallet system, others are copying from us now and we are also learning from them in other model to improve our operations,’’ the News Agency of Nigeria quoted the minister as saying at the conference.

  • Jonathan to WEF delegates: We will conquer terrorists

    Jonathan to WEF delegates: We will conquer terrorists

    President Goodluck Jonathan has commended the United Kingdom, France, United States and China for indicating interest to help Nigeria fight terrorism and ensure stability in country.

    Jonathan commended the four world super powers at the ongoing 24th World Economic Forum (WEF) on Africa on Thursday in Abuja.

    The News Agency of Nigeria reports that Nigeria was the first country to host the forum in West African with the theme: “Forging Inclusive Growth, Creating Jobs.”

    He said the presence of many participants at the forum indicated a sign that the fight against terror would be won.

    According to him, if the participants had refused to come, the terrorists would have jubilated.

    “Your coming here to support us morally is major blow on the terrorists and by God’s grace, we will conquer the terrorist.

    “I appreciate other countries that have expressed their commitment to help us especially in rescuing the girls abducted from one of our secondary schools.

    “The Premier of China has been with us for a state visit and the Government of China has promised to help us, and we believe that this assistance will come almost immediately.

    “The governments of United States of America, the United Kingdom and France have also spoken with me and have shown their commitment to resolve this crisis in Nigeria.

    “I believe that the kidnap of the girls will be the beginning and end of terrorism in Nigeria,” President Jonathan said.

    On unemployment rate in the region, he said that efforts must be geared towards ensuring that the rate was reduced in the region.

    He said 75 million young people globally were unemployed, adding that Africa’s unemployment rate was at 20 per cent while that of Nigeria was 24 per cent.

    President Jonathan noted that African leaders must ensure that inclusive growth was achieved through various innovations to create job for the youthful population in the region.
    “Job creation must be what should occupy the time of every African leader, it is also one that keeps me awake at night,” he said.

    He said the ongoing transformation agenda of his administration had focused on areas that would drive inclusive growth.

    The President noted that the rebasing of the Nigerian economy, which had made the country’s economy largest in Africa, also opened opportunity to improve many sectors.

    The sectors, he said, included agriculture, services and entertainment, among others, adding that the 2014 budget had been designed to create jobs.

  • Dangote to invest $2.3b in north

    Dangote to invest $2.3b in north

    Nigerian businessman Aliko Dangote said on Thursday he will invest $2.3 billion in sugar and rice production in the northern part of the country.

    Dangote, who is Africa’s richest man, told the World Economic Forum in Abuja that creating employment was key to ending an insurgency in the region.

    Reuters reports that he would also invest $12 billion in Nigeria and $4 billion outside the country over the next four years.

  • Chibok: Business community votes $10mn for Nigeria

    Following the abduction of hundreds of school girls in Chibok, Borno State, almost four weeks ago, the Nigerian business community has voted $10 million to make schools safe in the country.
    Addressing journalists at the ongoing World Economic Forum on Africa in Abuja Wednesday, the former British Prime Minister and current United Nations envoy on Education, Mr. Gordon Brown, also disclosed two teams from the United States and the United Kingdom will be coming to Nigeria in the next two days to help find the kidnapped girls.
    Brown stated that “there is a desperate need to assure Nigerians that children are safe to go to school and as a result the Nigerian business community has earmarked $10 million with a pilot scheme of 500 schools. The initiative wants parents and teachers to come up with what safety measures that should involve the government too.
    He added that the British and US governments have assured him they will provide teams to locate the abducted students.
    The Publisher of ThisDay Newspaper, Mr. Nduka Obaigbena, said the Nigerian business community was stunned by the abduction which he described as a reflection of the current situation in the country.

  • AfDB tasks Nigeria, others on inclusive growth

    The African Development Bank (AfDB) on Wednesday urged Nigeria, Kenya and South Africa to synergise and drive inclusive growth on the continent.
    AfDB Chief Economist, Prof. Mthuli Ncube, made the call in Abuja at the 24th World Economic Forum on Africa with the theme: “Forging Inclusive growth, Creating Jobs.”
    Ncube spoke as a panelist on the topic, “Driving Competitiveness through Cooperation, integration and Economic growth.”
    He said that growth was positive in the region, but the inequalities remained to be high.
    He said if the three countries could synergise, it would help to reduce the average poverty rate of 48 per cent presently in the region.
    According to him, the informal sector of the economy, where the small businesses are high, should be encouraged.
    The Chairman, KMPG global Africa practice, Mr. Seyi Bickersteth, said efforts must be geared towards improving intra-African trade currently at 12 per cent.
    “For us to have a positive growth, we need to integrate, get rid of the guys at the boarders to reduce cost and time of business and movement,’’ he said.
    He said that boarder check remained a major hindrance to free movement of goods in the region, adding that energy issues were another problem that should be tackled to help businesses that would create jobs and reduce inequality indicators.
    Bickersteth said the adoption of privatisation of the energy sector by the Nigerian government was a step in the right direction, adding that private sector participation was critical to drive the sector.
    He added that private sector participation would drive different market forces and also help reduce corruption.
    “Our political leaders have to step down their egos and provide enabling environment for private sector to play a major role,’’ the News Agency of Nigeria quoted the KMPG chairman as saying at the forum.

     

  • Tight security as WEF opens

    As the Africa edition of the World Economic Forum (WEF) opened in Abuja on Wednesday, FCT residents complied with the Federal Government’s directive to stay at home except those on essential duty.
    The News Agency of Nigeria reports that some roads hitherto adjudged to be very busy, witnessed light vehicular movements.
    The airports road, which often records heavy vehicular movement and sometimes gridlock, was free of traffic, except for the occasional movement of delegates arriving for the forum.
    Security agents were seen at strategic locations within the FCT, while entry points such as Bwari, Zuba, Gwagwalada and Nyanya/Mararaba axis had heavy security presence.
    Similarly, the road leading to the Federal Secretariat through the Eagle Square, International Conference Centre, Sheraton, Transcorp Hilton, Benue Plaza and ThisDay Dome were all closed to commuters and motorists.
    Transcorp Hilton, the venue of the forum, was being guarded by stern looking security men, to prevent any unpleasant situation, while hotels and the International Conference Centre (ICC) were equally cordoned off.
    NAN reports that journalists without accreditation to cover the forum were denied entry into Transcorp Hilton.
    Workers on essential duty who were not mobile, had a hectic time reaching their offices, as there are few commercial taxis operating within the city.
    A combined team of security agents including the army, police, Nigeria Security and Civil Defence Corps (NSCDC) and the Department of Security Service, among others, also prevented any vehicle without the official badge from the venue of the event.
    NAN recalls that the federal government had on May 3 ordered the closure of all government offices and schools in the FCT, from May 7 to May 9 to ensure a hitch-free event.
    A statement by the Secretary to the Government of the Federation, Sen. Anyim Pius Anyim, explained that the directive was to ensure free flow of traffic in the city during the event.

  • Focus on jobs as WEF opens

    Focus on jobs as WEF opens

    The World Economic Forum (WEF) on Africa begins today in Abuja with a focus on forging inclusive growth and creating jobs. More than 900 leaders from business, government, civil society and academia will be at the meeting, which ends on Friday.

    The meeting is holding against the  backdrop of significant economic growth, progress in reducing poverty in most parts of sub-Saharan Africa, but also persistent inequality. This year’s programme is built on three pillars: Accelerating Society’s Transformation; Deepening Investment Partnerships; and Redesigning Growth Models.

    Besides host President Goodluck Jonathan, other leaders for the meeting are: Mohamed Larbi Ould Khelifa, President, People’s National Assembly, Algeria; Thomas Yayi Boni, President of Benin; Li Keqiang, Premier of the People’s Republic of China; Daniel Kablan Duncan, Prime Minister of Côte d’Ivoire; John Dramani Mahama, President of Ghana; Uhuru Kenyatta, President of Kenya; Kolo Christophe Laurent Roger, Prime Minister of Madagascar; Paul Kagame, President of Rwanda; Macky Sall, President of Senegal; Jakaya M. Kikwete, President of Tanzania; and Faure Gnassingbé, President of Togo.

    “Africa’s continued progress depends fundamentally on the ability of its leaders to take the bold decisions necessary to transform the region’s economy and society. By bringing together leaders from politics, business and civil society, we hope the meeting will offer an environment where such decisions can be catalysed, and where commitment and creativity can be drawn on to build a future fit for all Africans,” said Elsie Kanza, Director, Head of Africa, World Economic Forum.

    In addition to the two-day official programme, many meetings will be held in parallel in Abuja during the week. Among them is Shape Africa, the annual meeting of Africa’s Global Shapers community  bringing together young people from across Africa to share ideas on how they can improve life in their home cities and countries.

    The co-chairmen of the meeting are: Dominic Barton, Global Managing Director, McKinsey & Company, USA; Jean-François van Boxmeer, Chairman of the Executive Board and Chief Executive Officer, Heineken, Netherlands; Aliko Dangote, President and Chief Executive Officer, Dangote Group, Nigeria; Bineta Diop, Special Envoy for Women, Peace and Security, African Union, and President, Femmes Africa Solidarité, Switzerland; Jabu A. Mabuza, Chairman, Telkom Group, South Africa; Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises, India; and John Rice, Vice-Chairman, GE, Hong Kong SAR.

    For Nigeria, participants will highlight a vision for the health system by 2030 aiming to provide universal health coverage by building on the National Health Bill 2014. They will elaborate a package of high-impact “leapfrogging” initiatives and align stakeholders to cooperate in delivering this vision.

    Nigeria has approximately just 14% of the number of doctors per capita of OECD countries. To catch up, Nigeria would need approximately 12 times as many doctors by 2030 at US$51 billion. According to Robert Greenhill, Managing Director, Chief Business Officer and Member of the Managing Board, World Economic Forum, this is not a sustainable option and that higher investments do not necessarily translate into better health outcomes.

  • No airport will be shut for WEF, says govt

    No airport will be shut for WEF, says govt

    No airport will be shut during the ongoing  World Economic Forum, the Federal Government said yesterday.

    Coordinating General Manager, Corporate Communications for Aviation Parastatals, Mr Yakubu Dati, said none of the 22 airports managed by the Federal Airports Authority of Nigeria (FAAN), will be closed to passenger traffic and other activities by airport users.

    A statement he endorsed read: “The management of the Federal Airports Authority of Nigeria (FAAN) wishes to inform the general public, especially air passengers and other airport users, that government’s directive closing all schools and public offices in Abuja between May 7th and 9th, 2014 for the World Economic Forum does not affect  operations at the Nnamdi Azikwe International Airport, Abuja and all other airports in the country.

    “Normal flight operations will continue to take place at all airports, as scheduled, throughout the period of the forum. We are constrained to issue this release in view of possible misconception in some quarters that the Abuja Airport, being a public utility, is affected by the closure order.

    We also wish to assure all passengers and other airport users that adequate security and operational arrangements have been put in place at all our airports to ensure hitch-free passenger facilitation during and after the World Economic Forum.”