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Sunday, August 1, 2021

The Importance of Socio Political and Economic Stability in Sub Saharan Africa’s Development

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Our 8th Economic Sustainability Series in 2021,  on, “The Importance of Socio Political and Economic Stability in Sub Saharan Africa’s Development”, held on Friday 25th June.
Professor Eghosa Osaghae, Director-General, Nigeria Institute of International Affairs (NIIA)  

Take Aways

Three perspectives, systemic frame work, every system is embedded within sub system and the sequencing paradigm. Processes of development. Developmental prerequisites don’t require sequencing. Development has mostly come through shocks, not planned.
Can you have strong institutions through shocks? First we have to resolve issues of statehood. Fragility of states raised, perennial situation of endless transition, can you resolve issues of development without sorting out the politics?

Can you build strong institutions without resolving fundamentals?
States in Africa were designed to be at the receiving end of global capitalism. Consumer and client economies designed not to be productive. The well being of domestic economy of sub Saharan Africa is contingent on global capital.

Growth rate is attractive to foreign investment, but does not translate to reality on ground.
Resolving fundamental issue of participatory democracy is important.
These things don’t translate into citizens well being. Citizens have to matter and count. All development is about human security.

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