https://en.sputniknews.africa/20230530/we-can-do-it-ourselves-africa-waking-up-from-slumber-nigerian-official-says-1059560429.html
'We Can Do It Ourselves': Africa 'Waking Up From Slumber', Nigerian Official Says
'We Can Do It Ourselves': Africa 'Waking Up From Slumber', Nigerian Official Says
Sputnik Africa
There are many promising areas of cooperation between Russia and African countries, especially in industrial growth and diversifying the economy away from crude oil, Prince Adeboboye Ologbese said
2023-05-30T14:58+0200
2023-05-30T14:58+0200
2023-08-03T10:44+0200
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There are many promising areas of cooperation between Russia and African countries, especially in industrial growth and diversifying the economy away from crude oil, Prince Adeboboye Ologbese, Commissioner for Regional Integration and Diaspora Relations of Ondo State in Nigeria, said in an interview with Sputnik Africa.Prince Ologbese believes that Africa is currently an untapped market in the world, with great potential for future growth and development. He cited the example of how the Global System for Mobile Communication (GSM) was introduced to Africa and then went on to become far more successful than in the Western world.The Ondo State official, who took part in last week's Moscow Export Day forum for export-oriented businesses and gave a presentation that encapsulated the totality of what his state has to offer global investors, added that Africa has traditionally been slow to believe in its own potential and has relied heavily on the West.Ologbese said that he sees Russia as a country that has much to gain from Africa, particularly regarding its potential for industrial growth. He noted that Nigeria, with a population of over 220 million, is the largest market on the African continent, and he believes that if Russians were to invest in Nigeria, it would be a mutually beneficial relationship.The Commissioner acknowledged that Nigeria's economy has long been heavily reliant on oil and recognizes the need to diversify its industries to reduce its dependence on crude oil. He highlighted the Nigerian Federal Government's recent initiative to create private ports as a commendable step towards expanding the industrial sector and promoting business growth.Unlike those who usually come to "loot Africa," the Russians can provide a "genuine" and "sincere" coordination with the resource-rich continent, the Nigerian official believes.To further his point about the need to industrialize Africa, the Prince said he believes the use of technology, particularly in the form of organic and mechanized agriculture, can have a significant impact on food security in Africa. He cited the example of a Russian company he met at the Moscow Export forum that produces organic fertilizer that can improve crop yields and quality.He also acknowledged that Russia's advancements in technology can transform Africa's agriculture sector and make it more efficient, productive and resilient.Ologbese added that the privatization of agriculture in Nigeria, the ban on imported rice, and the growth of the poultry industry nationwide are all commendable steps towards beefing up food security. Noting that the potential of agriculture in the West African country is enormous, he emphasized that domestic farmers need to receive more government support and guidance to optimize their operations.Prince Ologbese also commented on the fact that Western sanctions against Moscow are affecting African countries, arguing that such an approach is "wrong". He added that both Russia and African countries should look at the mechanism of getting out of this situation, suggesting that Russia should position more investments towards the continent.The official also encouraged the "fantastic" trend of moving away from using the US dollar and other Western currencies in international trade in favor of trading in national currencies, including the potential currency of the bloc of the world's five leading emerging economies: Brazil, Russia, India, China and South Africa, known as BRICS.
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'We Can Do It Ourselves': Africa 'Waking Up From Slumber', Nigerian Official Says
14:58 30.05.2023 (Updated: 10:44 03.08.2023) Muhammad Nooh Osman
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Ahead of last week's Moscow Export Day forum for export-oriented businesses, hosted by the Moscow Export Center, Sputnik Africa spoke with a group of visiting African business leaders and officials about the prospects for Africa's development and Russian-African cooperation.
There are many promising areas of cooperation between Russia and African countries, especially in industrial growth and diversifying the economy away from crude oil, Prince Adeboboye Ologbese, Commissioner for Regional Integration and Diaspora Relations of Ondo State in Nigeria, said in an interview with Sputnik Africa.
Prince Ologbese believes that Africa is currently an untapped market in the world, with great potential for future growth and development. He cited the example of how the Global System for Mobile Communication (GSM) was introduced to Africa and then went on to become far more successful than in the Western world.
The Ondo State official, who took part in last week's Moscow Export Day forum for export-oriented businesses and gave a presentation that encapsulated the totality of what his state has to offer global investors, added that Africa has traditionally been slow to believe in its own potential and has relied heavily on the West.
"We never believe in ourselves as leaders. Now we are just waking up from our slumber to say that we can do it ourselves. We can coordinate ourselves right now," Ologbese maintained. "That's why this is the first time that the government is coming to participate in a business forum like this, because we feel that it's not going to be business as usual anymore."
Ologbese said that he sees
Russia as a country that has much to gain from Africa, particularly regarding its potential for industrial growth. He noted that Nigeria, with a population of over 220 million, is the largest market on the African continent, and he believes that if Russians were to invest in Nigeria,
it would be a mutually beneficial relationship.
The Commissioner acknowledged that Nigeria's economy has long been heavily reliant on oil and recognizes the need to diversify its industries to reduce its dependence on crude oil. He highlighted the Nigerian Federal Government's recent initiative to create private ports as a commendable step towards expanding the industrial sector and promoting business growth.
"Technology is fast moving ahead of crude oil. In the next 30 years, technology is going to take over. Crude oil will be very, very useless. So that is why we want to quickly diversify our economy out of oil driven to begin to expand our industrial goods," Ologbese argued.
Unlike those who usually
come to "loot Africa," the Russians can provide a "genuine" and "sincere" coordination with the resource-rich continent, the Nigerian official believes.
"We feel that most of the people that are coming around are just coming around to actually loot Africa, but not to develop Africa. But if the Russians come around and say that they want to go into the area of industrialization, they will provide the leadership for Africa and Africa will be great and Russia will be better than where it is today," Ologbese argued.
To further his point about the need to industrialize Africa, the Prince said he believes the use of technology, particularly in the form of organic and mechanized agriculture, can have a significant impact on food security in Africa. He cited the example of a Russian company he met at the Moscow Export forum that produces organic fertilizer that can improve crop yields and quality.
He also acknowledged that Russia's advancements in technology can transform Africa's agriculture sector and make it more efficient, productive and resilient.
Ologbese added that the privatization of agriculture in Nigeria, the ban on imported rice, and the growth of the poultry industry nationwide are all commendable steps towards beefing up food security. Noting that the potential of agriculture in the West African country is enormous, he emphasized that domestic farmers need to receive more government support and guidance to optimize their operations.
Prince Ologbese also commented on the fact that Western sanctions against Moscow are affecting African countries, arguing that such an approach is "wrong". He added that both Russia and African countries should look at the mechanism of getting out of this situation, suggesting that
Russia should position more investments towards the continent.
"The West is actually putting out a policy that actually favors them without considering other people. This is part of what Africa has actually suffered in the past," he said.
The official also encouraged the "fantastic" trend of moving away from using the US dollar and other Western currencies in international trade in favor of trading in national currencies, including the potential currency of the bloc of the world's five leading emerging economies: Brazil, Russia, India, China and South Africa, known as BRICS.
"So if Russia is coming on board with this template, it will actually strengthen the business side and make it more comfortable for us to do more business with the Russian community," the Nigerian commissioner concluded.
