By Nkiruka Nnorom

LIBERIA’S Minister of Finance and Development Planning, Augustine Kpehe, has emphasised the urgent need for South South cooperation and Africa regional integration, saying time has come for the continent to accelerate its integration efforts and leap-frog into a brighter future.

He spoke against the backdrop of the recent imposition of reciprocal tariffs on all countries by the US President, Donald Trump, and declining international aid.

Speaking during the Nigerian Institute of International Affairs, NIIA, roundtable on investment discussions between Nigeria and Liberia, in Lagos, Kpehe said there was need to quicken actions already in place in Africa in order to accelerate the region’s self-reliance.

The minister emphasised the importance of harnessing Africa’s rich resources to get the best value for its people and ensure inter-generational equity.

He also urged African nations to ensure that the agreements they signed were fair to future generations in order not to perpetuate legacy of problems.

He said: “At this time when the big power and others are retreating, this is precisely the time for Africa to leapfrog on all the integration ambitions.

‘’We cannot move slowly now. We have been treated like we are leeching on the world when in reality, to a large extent, if you check; the world has been leeching on us. But we have been made to appear like we are the ones that have been begging. 

“We have resources. My country, Liberia has rich resources, Nigeria has rich resources. We need to harness the resources of our continent, so we can get best value.

“Let’s ensure our countries are not shortchanged; let’s ensure the future, the young people of our continents and our countries get the best value.

“Let’s proceed with an eye of what we call inter-generational equity, that after us, there will be people tomorrow. Let’s make sure the agreements we are signing today are fair to the generations of tomorrow. Otherwise, we’ll be giving them a legacy of problem, not a legacy of solution.”

The minister also stressed the need for easier travel and transportation within Africa, citing his own experience of spending 10 hours traveling from Monrovia to Lagos.

He further noted the contradictions in visa policies, where some African countries have free movement within their regions, but face restrictions when traveling to other parts of the continent.

Kpehe highlighted the potential of the African Continental Free Trade Area Agreement, AfCFTA, which came into force in 2021 to promote economic integration and cooperation, saying there need to quicken the pace to achieve all the ambitions set forth in the free trade area agreement.

In his remarks, the Director General, NIIA, Prof. Eghosa Osaghae, emphasized the importance of trade facilitation, highlighting Liberia’s success in the area. 

He noted that Liberia’s free port regime, established in 1948, had greatly facilitated trade and contributed to the country’s thriving economy.

The NIIA boss encouraged business people to take advantage of the opportunities available in Liberia, which had grown significantly since its post-war recovery from the times of fire stone and rubber.

He also stressed the commonalities between Nigeria and Liberia, including their entrepreneurial spirit.