President of the African Development Bank Group, Dr. Akinwumi Adesina, has advised African nations not to get involved in a tariff war with the United States but rather concentrate on forging strategic trade and investment partnerships.
Presenting the 14th Convocation Lecture of the National Open University of Nigeria (NOUN), themed “Advancing Africa’s Positioning Within Global Development and Geopolitical Dynamics,” Adesina flagged the threat of new U.S. tariffs. He warned that they could trigger economic instability in Africa through undermining currencies, increasing inflation, and increasing the cost of debt servicing.
Trade between Africa and the U.S. remains small. “It will be suicidal to fight a trade war,” Adesina said. He advocated for balanced trade relations and referred to Africa’s vast potential in infrastructure, agriculture, and mineral resources as attractive opportunities for U.S. investment.
To safeguard the continent’s economies, Adesina called on African leaders to “tariff-proof” their nations by increasing domestic consumption, value addition, and full operationalization of the African Continental Free Trade Area (AfCFTA). He said the era of relying on foreign aid is over, and Africa must now rely on disciplined investment, improved resource management, and improved governance.
Irrefutably, aid has benefited poor communities, but no nation has ever developed with aid only. Africa must become self-reliant, especially in health security, with the same priority as national defense,” he continued.
Adesina also advocated huge investments in education and technology for creating a highly skilled workforce and entrepreneurial entrepreneurs. He called on the universities to excel in medical and pharmaceutical research, and advised local manufacturing of vaccines and medications as a panacea to global uncertainties.
The lecture was presided over by Professor Atahiru Jega, Pro-Chancellor, Usman Danfodiyo University, Sokoto, who underscored the need for developing graduates with learning and character.
NOUN Vice-Chancellor, Professor Olufemi Peters, praised Adesina for delivering a thought-provoking and forward-thinking speech that touched on pertinent issues facing the continent.
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