Prof. Kingsley Moghalu, President, African School of Governance, has called on African countries to leverage Public Private Partnership (PPP) investments to achieve continental economic liberation and prosperity.
Moghalu, a former Central Bank of Nigeria deputy governor, made the call at the 7th annual lecture of the Association of Foreign Relations Professionals of Nigeria (AFRPN), in Abuja on Thursday.
The lecture had as its theme: “Economic Liberation Through Public Private Partnership: A Catalyst Against Neocolonialism in Africa.”
It was designed to promote dialogue on global topical issues affecting Africa.
Moghalu said that although most African countries achieved political independence from colonial powers, economic freedom had not been achieved.
According to him, this is because national economies are still trapped in a neocolonial stranglehold, hence the need for PPPs.
“PPPs represent an innovative approach to economic transformation in the context of a market-leaning developmental state.
“The journey toward economic liberation and the dismantling of neo-colonial structures requires deliberate action.
“By embracing PPPs, strengthening institutional frameworks and investing in leadership development, we can leverage the private sector for development outcomes.
“We can also avoid debt traps and pave the way for a self-reliant and prosperous Africa,” he said.
He emphasised that Africans should leverage PPP investments in order to redefine the continent’s economic landscape.
This, he explained, would ensure that future generations inherit a continent characterised by growth, equity and true sovereignty.
Minister of State, Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, commended AFRPN for its contribution to nation-building through public lecture series on PPPs.
According to her, PPPs help the Federal Government to leverage the expertise and efficiency of the private sector by means of raising capital and inspiring development amid regional challenges.
“This forum is, therefore, important as it helps to bring together stakeholders to consider the avenues for policy makers to reassess macroeconomic conditions affecting private sector development.
“It also helps to provide focus on reforms that are imperative for conducive business environment, supporting an entrepreneurial and innovative ecosystem,” she said.
Odumegwu-Ojukwu added that this would promote productivity and better working conditions for business growth and sustainability.
Prof. Ibrahim Gambari, former Nigerian Ambassador to the United Nations, and chairman of the occasion, described the topic of the event as apt, saying it would proffer solutions to issues bordering PPPs.
“This entails that African countries must build regional strategies, including strengthening the African Union, African Development Bank, Afrexim Bank, ECOWAS, other sub-regional bodies and the African Standby Force.
“To leverage energy and innovative vision of young people, and ensure that as the new world order takes shape, we are positioned for the continent to be part of solution rather than problem.
“Africans must put all instruments at our disposal to use as a shared responsibility for all; therein lies the effectiveness of PPPs,” Gambari said.
AFRPN President, Amb. Gani Lawal, said the lecture was part of the association’s objective to dissect relevant and topical issues that affected the country.
According to him, it was carefully chosen to create an opportunity to listen to perspectives of nodal international relations professionals, who had followed and researched Nigeria’s historical antecedents and economic governance.
Lawal said, “AFRPN will continue to extend its hands of fellowship to other departments that handle governmental activities across the frontiers of the nation.
“Particularly, some that are domiciled in our missions abroad, to partake in our training on practical diplomatic protocol, which are essential in dealing with members of the public at home and abroad.”
The highpoint of the event was the presentation of a plaque to Moghalu and Gambari by Khalifa Muhammadu Sanusi, the royal father of the day.
(NAN)
