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Lord Boateng predicts bright future for Africa’s economy

By Kenneth Ehigiator & Daniel Eteghe
Former United Kingdom Treasury Secretary, Lord Paul Boateng, yesterday, said Nigeria was the key to African’s success as other countries on the continent look up to the country to demonstrate good leadership and sound economic management, especially coming out of a global recession.

He also said recent developments across the world were an indication that African economies have a bright future.

Speaking to aviation correspondents at the Murtala Mohammed International Airport Lagos, Lord Boateng noted that Africa and, Nigeria, in particular, had proved to be resilient in its economy during the recent global downturn.

He added that Africa would come through in this difficult process when the economy was well managed.
He said: “Nigeria and its huge potentials are the key to the success of Africa. That is why all people of good will look up to Nigeria to demonstrate leadership, to demonstrate strength.

“I believe that it must have displayed some 50 years ago when the people of Nigeria won their independence. So this is a great conference and we are looking forward very much to do a serious work in order to make sure that the economy of Africa and its people fulfill the potentials that they have.“

Lord Boetang, who will present a paper entitled, Developing Economies: Rethinking and Reshaping the Future, at the forthcoming Kuramo Conference organised by Lagos State government, said for Africa to be emancipated from its present economic woes, depended on having sound economic policies.

“The good news is that Africa has proved to be remarkably resilient in terms of its economy during the current global down turn and we have every expectation that Africa will come through this difficult process stronger and better placed”

Lord Boateng stressed the need for economic growth and job creation to put Africa right on track and commended the government and people of Lagos State for recognizing the rebuilding and strengthening of African economy.

He said:  “We have to ensure that the economy is managed very well and that we have effective and sound economic policies so that together we create a continent in which there is growth with job.”

He challenged African leaders to rise to the task of growing African economies, stressing global focus was currently on the continent as a fast growing emerging economy.


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