By Lukman Olabiyi
Former President of Ghana, John Dramani Mahama, has highlighted the monopolistic nature of many African economies as a key obstacle to sustainable growth.
In his keynote address at the Annual General Conference (AGC) 2024 of the Nigerian Bar Association (NBA) in Lagos, Mahama emphasized that recent commodity price shocks have exposed the fragile financial stability and economic sovereignty of African countries.
Mahama used Nigeria as an example, noting that its heavy dependence on oil exports makes its economy vulnerable to global price fluctuations.
According to him, this issue is not unique to Nigeria but extends across the continent. For instance, Côte d’Ivoire relies heavily on cocoa, Ghana on gold, Zambia on copper, and Botswana on diamonds.
Despite Africa’s vast natural resources, Mahama pointed out that the continent’s agricultural sector remains largely underdeveloped.
He lamented the heavy reliance on food imports, which depletes foreign exchange reserves and hampers the growth of domestic agribusiness.
He criticized the outdated legal frameworks governing land use, agricultural financing, and food safety, which discourage investment and innovation.
Mahama also addressed the underdevelopment of Africa’s manufacturing base, attributing it to poorly designed structural adjustment programs and inequitable global trade practices.
“It is crucial that we as leaders understand that these challenges are not isolated. They are symptoms of deeper systematic issues rooted in the power dynamics of the contemporary international system.
“The recent wave of political insurrections and coups in Africa, particularly in the Sahel region, reflect deep-seated issues of injustice, alienation and marginalization. The state fragility and insecurity that have led to military takeovers have not only disrupted mutual understanding within the eco-west sub-region, but also exposed the limitation of current diplomatic and interventionist strategies. Distinguished members of the BAN, we must ask ourselves, what is the future of Africa? What are the challenges that threaten Africa’s future? And what role do you as legal professionals have in securing this future? To answer these questions, we must first examine the structural challenges that undermine our African economies, challenges that have been starkly highlighted by recent global events.
“As legal professionals, you have a crucial role to play in addressing these structural challenges. Your task is not just to advocate for change, but to actively shape the legal frameworks that will support the diversification and strengthening of our economies. This requires a multifaceted approach”, he said.
The President of the Senate, Godswill Akpabio in his remarks told lawyers in the country that a coup is not an option as a way out of the nation’s current challenges.
He also stated that the best coup could do is to deny Nigerians their freedom.
The Senate President who asked the legal luminaries not to rest on their laurels, added that they should move forward, welcoming the future with open hands and hearts.
“As we gather, let us remember that our strength lies not only in our numbers but also in our uniform.
“We are not merely a crowd. We are a very formidable force for positive change in Africa.
“We hold a call and a reflection on our collective determination to rebuild our beloved nation.
“The King of England, my friend, has impressed us, pressing forward a national posture for rebuilding Nigeria.
“Let us remember that yesterday’s mindset took us to where we are today. It will take us to where we will be tomorrow.”
While urging the lawyers to change their thinking, Akpabio insisted that they must change their attitudes and the cultural paradigm shift.
The Senate President said: “We must transform our minds, not only to transform Nigeria, not only to transform West Africa, but to transform the entire world.
“It was one man, Reverend Dr Martin Luther King Jr., who inspired the nation with his dream and awakened America to a new dawn of justice.
“For me, I entered politics with a dream of my own. Coincidentally, I was able to do so. We can rebuild Nigeria.
“Therefore, let us be united in our mission for our country and dream of a future bringing improvements and opportunities.
“Our profession is more than a career. It is a noble pursuit that demands integrity, courage, and unwavering commitment.”
While explaining that nation-building is a shared responsibility, not solely the domain of government authority, Akpabio clarified that It requires the active involvement of every Nigerian.
“Lawyers play a very important role in shaping the moral fabric of any society. So, as we contemplate the challenges ahead, economic instability, social injustice, and the quest for political stability, let us remember that within these challenges lies a continuity, where at a push-to-junction in our heads, a time that demands bold action and resolute determination, must rise above our challenges with a new hope.
“Like the eagle, you should not shy away from the thought, but unless it wins, the wings of the thought will ascend to the highest heights,” he added.
Akpabio gave the assurance of the National Assembly’s commitment to contributing to the nation’s human process, just as he added that the hallowed chamber is working hard to create a robust legal framework and to support the aspirations of all nations.
“We believe strongly that there is no stain in our country that we cannot erase if we stand together in brotherhood. That is why we went back to that nationality,” he added.