Business
UN Commission Charges Africa On Natural Resources
The UN Economic Commission for Africa (ECA) has advised African countries to use the continent’s natural resources in its industrialisation drive.
The Chief, Green Economy and Natural Resources Section at ECA, Ms Isatou Gaye, gave the advice in an interview with newsmen in Abuja.
She said the natural resources had provided Africa with opportunity for industrialisation, and that it could be achieved through adding value to the resources instead of exporting them as raw materials.
“Our natural resources really provide the opportunities whereby we can add value. Through manufacturing, we can launch the industrialisation drive of Africa using its commodities,’’ she said.
Gaye said Africa’s resources had not really been to the benefit of the continent, pointing out that multi-nationals were benefiting more from the region.
“It has followed the traditional trade routes that have been established by the colonialists that were here; mainly, that is exporting the raw materials from Africa and adding value to it in developed countries.
“In essence, it is more or less like exporting jobs, and you know Africa has bulging youth population; we need to really find jobs for them and not just any jobs but decent jobs.
“Africa must industrialise. It must add value to its commodities.
“How do we hope to create jobs and enhance the growth that we want to see if we don’t add value to the commodities?’’
Gaye advised the region to concentrate on ensuring “the transformation and rise of Africa’’, noting that modern transformation is enabled by many factors, particularly, favourable balance of trade.
She expressed regrets that Africa’s trade with the international community, particularly, the entry of the region’s products into the international markets was still facing serious challenges.
To temporarily overcome the challenges facing the entry of the continent’s products into the international market, Gaye urged African countries to enhance intra-Africa trade.
According to her, trade plays a vital role in the economic diversification of Africa and the industrialisation of the continent.
“Internally within Africa, we can enhance the intra-Africa trade; trading among African countries has been quite low.
“We should also take advantage of the rich natural resources within Africa to make sure that we add value to them in order to also enhance the entry of Africa’s products into the international markets.’’ ‘
She urged African countries to also see unfavourable multilateral trade agreements as opportunities for intra-Africa trade rather than challenges.
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