‘Africa needs fairer trade policies not aid’ - Vice President Yemi Osinbajo

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January 26, 2018 11:10 AM

Prime ministers Paolo Gentiloni and Alexis Tsipras suggest Marshall plan for Africa’s immigration problems, but Yemi Osinbajo doesn't support the solution.

Nigeria’s Vice President Prof. Femi Osinbajo stated at a World Economic Forum panel that fairer and well thought through trade policies are better for Africa than the “off the shelf” Marshall plan.

The Marshall plan was first initiated by America in giving over $13 billion after World War II, about $140 billion in today’s money, to rebuild Western European countries affected.

At the Interactive Session Titled “Stabilizing The Mediterranean” which also seated prime ministers of Italy and Greece, Paolo Gentiloni, Alexis Tsipras, both stated emphatically that all EU countries must share in the adoption of African migrants coming through the Mediterranean sea and contribute to a new large aid programme to improve conditions in Africa and ebb illegal emigration.

“...the problem is not the flows [of migrants], it is not the people who are trying to find a new life in Europe, but the problem is why the people cannot live in their countries,” Tsipras said.

Working plan

Quizzed on his position regarding the financial aid approach to Africa’s problems, Osinbajo said: “I don’t think that aid has worked through the years.”

“I think that what Africa needs... are fairer trade policies and a cocktail of policies that centre on job creation in those locations, more investments, but I think more thinking through those ideas and policies that creates more opportunities, partnership between Europe and Africa,” Osinbajo explained.

The vice president argued that the continent’s challenges have led to illegal migration, terrorism, and other problems with global impact, and consequently deserves global attention and concerted effort.

He highlighted China’s partnership with countries like Ivory Coast and Nigeria, in the development of Special Economic Zones to make the continent the “factory of the world”, as an example of extensions the continent needs from developed countries.

“I think those sorts of arrangements will very quickly absorb labour,” he quipped.

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