I was shocked to read recently that my dear Democratic Republic Of Congo is the most ‘un-electrified’ country on earth. (My country Nigeria was next most un-electrified.)
The reason I am shocked is that the River Congo is partly based in Congo (DRC). In fact, the source of the river is in Congo (DRC). You see, the River Congo is the strongest river in Africa in terms of potential to produce electricity. It is so strong that the world’s biggest dam, the Great Inga Dam has been proposed there.
It is said that when built, the dam would be able to power most of Africa and even supply power to Europe and the Middle East.
So, I hope the Great Inga is built as quickly as possible, so that my dear Congo can become, perhaps the most electrified country on earth.
Promoters of Lagos Free Zone have announced that they are looking at attracting $5 billion investments into the economic Zone.
“In line with its vision to be the preferred industrial hub and investment destination in West Africa with world-class infrastructure, the Lagos Free Zone (LFZ) which already has a committed investment of $2 billion is poised to attract an additional $5 billion over the next 4 years”…
“If anyone thinks that governance is about going to Abuja to collect money, use part of it to pay workers and use the rest to award contracts, then that person is mistaken.” – Former Governor, Central Bank of Nigeria, Prof. Charles Soludo
Background To Soludo’s Statement
Many state governments in Nigeria presently just get allocations from the Federal Government which they use to pay salaries and award (sometimes-wasteful) contracts. These states often had former administrations that borrowed away the states credit rating.
Now that oil has crashed, these states just live from hand to mouth. But Soludo, who is running for governor of Anambra State, is promising much more. Can he deliver? Many think he can. Only time can tell.
It is no more news that Nigeria has unexpectedly bounced out of recession. There are hopes that this recently detected economic growth leads to substantial socio-economic development. Top business site Nairametrics provides an analysis of how this bounce out of recession occured.
Ngozi Okonjo Iweala is a dogged fighter. In 2012 she decided to run for president of the World Bank.
But a US American has always headed the World Bank, just as European has always headed the IMF (International Monetary Fund).
So, South Korean US American Jim Yong Kim was chosen for the World Bank top job instead.
Unshaken, She Tries Again
Last year (2020), unshaken Mrs Iweala decided to throw her hat into the ring in the contest for Director General of the World Trade Organisation.
She even became a US citizen, perhaps to shore up her chances.
But the immediate past Trump Administration of the US prefared the South Korean Trade Minister Yoo Myung-hee, and vetoed Ngozi’s emergence.
Incidentally, Joe Biden won the US Presidency, and Yoo Myung-hee decided to withdraw her candidacy for the WTO apex post, paving the way for Ngozi’s emergence.
In life, never give up. Work smart. Be creative and flexible but determined. This is Resourceful Equianoism.
Congrats Ngozi. Do us proud. And make an impact in the reduction of extreme poverty. Ngozi, pursue fairer trade. Don’t settle for just freer trade.