*Calls for stronger intra-African investment
*Urges Delta to build wealth like Norway, not just produce oil
By Babajide Komolafe, Economy Editor & Egufe Yafugborhi, Ochuko Akuopha
ASABA—Renowned Kenyan scholar and Pan-Africanist, Prof. Patrick Lumumba, Monday, urged the Federal Government to dismantle visa barriers hindering the movement of Africans across the continent, saying such restrictions undermine regional integration, investment and the objectives of the African Continental Free Trade Area, AfCFTA.
He also challenged Delta State to emulate Norway by converting its oil wealth into long-term prosperity through prudent investment rather than dependence on crude oil revenue.
Speaking at the Delta State Economic and Investment Summit in Asaba, Lumumba said: “Your Excellency, the Vice President, Nigeria is the largest economy in Sub-Saharan Africa. I look forward to the day when an investor from Ethiopia can board a plane and arrive in Asaba without visas, landing cards or exit cards.
I look forward to the day when there will be no visa requirements for an African coming into this country.”
Drawing a comparison with Europe, he added: “Today, you can move from Slovakia to Portugal using the same currency and with minimal restrictions. But here in Africa, moving from one country to another remains unnecessarily difficult. We cannot build a competitive economy while remaining so fragmented.”
Lumumba argued that Africa’s development should be driven by Africans rather than excessive dependence on foreign capital.
“When we think about investment, we still imagine that our investors must come from Malaysia, Brazil or China. That is not the case. The next time this summit is held, I want to see Kenyans here, Ghanaians here, Ethiopians here, Moroccans here and Egyptians here. Africans must begin to believe that they possess both the intellectual capacity and the financial resources needed to develop their own continent,” he said.
While commending the Delta State Government for identifying its economic strengths, Lumumba challenged the state to replicate Norway’s prudent management of petroleum wealth.
“The Governor has reminded us of what Norway has done with its petroleum resources. Today, Norway has built one of the world’s largest sovereign wealth funds. The question for Delta State is simple: Can you do the same? The issue is not simply producing oil; the issue is whether you are using those resources wisely.”
He warned against complacency, saying: “Delta State’s economy is already larger than those of more than 20 African countries. The real question is this: with all the resources you possess—agriculture, minerals, oil, pharmaceuticals and the blue economy—what are you doing that is consistent with the demands of the 21st century?”
He also called for greater investment in research, innovation and energy, insisting that industrial development would remain elusive without reliable electricity.
“Development is impossible without energy. If you do not have energy, you are going nowhere. Energy must remain one of your highest priorities,” he stated.
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