The Former Director of Kenya Anti-Corruption Commission and Kenya School of Laws, Professor P.L.O. Lumumba said Africa’s search for economic development will remain a mirage without value addition.
He said at the 6th edition of the Goddy Jidenma Foundation Bi-annual Lecture held at the Nigerian Institute of International Affairs (NIIA), Lagos.
Prof Lumumba, a renowned pan-Africanist and Associate Professor of Public Law who spoke as Guest Lecturer said African countries must add value to their raw materials if they must develop economically either in the context of the African Continental Free Trade Area (AfCFTA) agreement.
The event was chaired by former Minister of Foreign Affairs & Former Permanent Representative of Nigeria at the United Nations, Prof Joy Ogwu, and the topic of the lecture was “Governance, Insecurity, Poverty and Economic Development: Whither Africa?”.
Prof Lumumber further said value addition was critical to Africa’s economic development. Using Nigeria as an example, he spoke about African countries exporting their raw materials without any value addition; the raw materials so exported are processed and sent back to Africa, which leads to poverty and under-development.
He mentioned Nigeria amongst other African countries, which as a major crude oil producer, exports crude, which is refined abroad and sent back to the country.