Africa Must Rethink Its Strategy for Fair Global Trade - Govt

Nigeria has called on African nations to rethink their collective approach to global trade, warning that no country on the continent can thrive in isolation amid shifting economic pressures.

Speaking at the 2nd African Cassava Conference in Abuja on Monday with the theme, "Building Sustainable & Quality Driven Cassava Industries in Africa," the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, noted that while Nigeria is investing heavily in grassroots economic expansion, Africa must simultaneously confront the realities of global trade, where collective action remains essential for sustainable growth.

Bagudu emphasised that leaders of African countries at different platforms have always maintained that Africa is committed to a fair trading ecosystem in the world.

"Africa, while thinking like this, needs to spare thought about those areas where no country in Africa can succeed alone, which is the area of international trade.

"We want trade, we want to ensure that everyone participates, we want a shared conception of development where everyone is supported wherever he lives," he said.

The Minister highlighted the Federal Government's ongoing macroeconomic reforms, noting that they were designed to unlock new revenue streams for all levels of government while strengthening local economic competitiveness.

He explained that the reforms were channelling fresh resources into Nigeria's new Renewed Hope Ward Development Plan, a nationwide programme aimed at identifying and funding economic opportunities across all 8,809 wards.

"The totality of our macroeconomic reforms in Nigeria is to generate more resources for the three tiers of government and, equally, to generate resources such that we can support our hard-working populace.

"That is why the federal government of Nigeria led the development and announcement of a programme called Renewed Hope Ward Development Plan and this is a revolutionary plan which entails the mapping of the economic opportunities in the 8,809 wards in Nigeria," the minister said.

Read the original article on Vanguard.