Former Vice President of Nigeria, Alh Atiku Abubakar, has called on
leaders and various economic groups in the African continent to work
towards diversifying their nations’ economy from its present state of
“mono-crop economy”, so as to attain meaningful development.
He cautioned that African countries would not go far in achieving
freedom, development and advancing their societies, unless they
decentralise power and resources.
Atiku made the call yesterday at the opening ceremony of the three-day
joint national conference of African Veterinary Association/Nigerian
Veterinary Medical Association Congress, holding in Enugu, with the
theme: “Towards Economic Diversification and Sustainable Development in
Africa”.
Atiku lamented that five decades after most African countries gained
political independence, their economies remain mostly mono-crop
economies. That is, they largely depend on the export of single primary
commodities such as minerals or agricultural produce. The prices of
these commodities are determined internationally by factors over which,
African countries have little influence. And they often fluctuate rather
widely, making the economies very vulnerable to externally induced
shocks. There is little industrialisation, little manufacturing and
little added value.
No comments:
Post a Comment