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Is Africa Really Different?

Is Africa Really Different? Featured

Nigeria’s foremost  Sustainable Development experts Professor Olanrewaju Olaniyan and Dr Olawale Olayide presented a  key note address at the recently concluded 23rd International Sustainable Development Society ISDR Conference in Colombia.

They harped on the African Union’s Development protocol: Agenda 2063 which envisions a shred strategic framework for equitable growth and sustainable development.

They detailed the existing similarities between the Agenda 2063 and the SDGs as both Protocols recognizes rising trends such as population growth and youth buldge, urbanization, climate change and inequalities among others

They reaffirmed Africa’s willingness to transit from the backwaters of human development to the path of inclusive and equitable growth.

The ISDR is an annual conference of   Sustainable Development Academics. Professor Olaniyan and Dr Olayide both teach Development Practice at the Center for Sustainable Development, University of Ibadan.

About Author

Anih Ambrose is the Managing Editor of Sustainability Watch Nigeria. He is a Sustainable Development Practitioner. He is very Passionate about Social and Political Sustainability Issues. Ambrose loves reading, travelling and swimming. Follow him on Twitter @able_ebu. Email him at editor@sustainabilitywatchngr.com. call him at +2349061197608

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  • Is Africa Really Different?

    Nigeria’s foremost  Sustainable Development experts Professor Olanrewaju Olaniyan and Dr Olawale Olayide presented a  key note address at the recently concluded 23rd International Sustainable Development Society ISDR Conference in Colombia.

    They harped on the African Union’s Development protocol: Agenda 2063 which envisions a shred strategic framework for equitable growth and sustainable development.

    They detailed the existing similarities between the Agenda 2063 and the SDGs as both Protocols recognizes rising trends such as population growth and youth buldge, urbanization, climate change and inequalities among others

    They reaffirmed Africa’s willingness to transit from the backwaters of human development to the path of inclusive and equitable growth.

    The ISDR is an annual conference of   Sustainable Development Academics. Professor Olaniyan and Dr Olayide both teach Development Practice at the Center for Sustainable Development, University of Ibadan.

  • African Research Scholar Launches IMAGES Initiative for Transforming African Economies

    Renowned African scholar, Dr Olawale Emmanuel Olayide of the Centre for Sustainable Development, University of Ibadan, Nigeria has launched an initiative called IMAGES (Interconnections for Making Africa Great and Sustainable).

    The initiative was launched on 13 May 2017 during the plenary session of vision factory of the Interconnections Conference 2017 co-hosted by the German Development Institute and Friedrich-Ebert-Stiftung in Bonn, Germany. The conference coincided with the United Nations Conference on Climate Change.

    The IMAGES initiative proposes an alignment of the Nationally Determined Contributions (NDCs), Sustainable Development Goals (SDGs) and Africa’s Agenda 2063 through an implementation framework based on the core principles of Research, Analysis, Results, Actions and Review (RARAR).

    Dr Olayide foresees the transformation African economies through IMAGES.

    For more information, please contact the visionary via This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it..

  • Rwanda Has Region's Highest Inequality Rate

    Despite heavy investments in quality housing, education, and health care, Rwanda still has the highest inequality rate in East Africa, according to a new report by Oxfam.

    Oxfam Uganda, in the report titled Who is Growing, says that in Rwanda, the gross national income of the richest 10 per cent is 3.2 times more than that of the 40 per cent poorest in the country, compared with Kenya's 2.81, Uganda's 2.33, Tanzania's 1.65 and Burundi's 1.35.

     
     

    But the report, which is about ending inequality in Uganda, shows that Rwanda's inequality is decreasing, even as it grows in the other East African countries.

    In Uganda, for example, the report notes that income disparity has increased. In the 1999/2000 financial year, the richest 10 per cent collectively had 1.35 times more income than the 40 per cent poorest. The Gini coefficient has increased from 0.395 in 1999/2000 to 0.47 currently.

    Income distributionThe Gini coefficient is a measurement of the income distribution of a country's residents. This number, which ranges between 0 and 1 and is based on residents' net income, helps define the gap between the rich and the poor, with the most equal societies having a Gini coefficient of zero, and the most unequal having one.

    Irene Ovonji Odida, chairperson of ActionAid International, blames the growing inequality in Uganda on inadequate social investment in areas such as education and health care. She said that Uganda spends resources on politically connected people while the poor, who most need a helping hand, are either left to their own devices or to use substandard government services.

     

    The report highlights widespread disparities in remuneration as one of the factors that fuel inequality. For instance, the lowest paid civil servant in a government ministry earns Ush129,217 ($35.5) per month while an employee of the Bank of Uganda on the same level earns Ush2.1 million ($586.9).

     
     

    The report points out such schemes as workers in elite government institutions deciding their rewards and allowances, citing a recent discovery that top workers of the Uganda Revenue Authority, the Ministries of Finance, Energy and Mineral Development and the Attorney-General's Chambers shared Ush6 billion ($1.6 million) as a reward for collecting capital gains tax from an oil company.

     
     

    The matter is now the subject of an inquiry by a parliamentary committee.

    According to experts, the problem with inequality is that it fuels conflict and crime.

    Prof Augustus Nuwabaga, a lecturer at Makerere University and one of the Oxfam report's authors, cites the case of South Africa, where the incomes of the 10 per cent richest are seven times more than those of the poorest 40 per cent.

    The fact that South African cities are also ranked as some of the most dangerous in the world, with high robbery and murder rates, speaks to the effect of this inequality, he said.

    Peter Kamalingin, Oxfam Uganda country director concurs.

    "Inequality leads to national insecurity," he said. "It also stunts economies."

    Original article at The East African

  • We cannot develop power alone – FG

    The Federal Government has urged private investors to invest in power sector in order to generate, transmit and distribute adequate and stable electricity to consumers nationwide. Speaking at the just concluded Nigerian Association for Energy Economics/ International Association for Energy Economics, NAEE/ IAEE, 10th Annual International Conference in Abuja, the Minister of Power, Works and Housing, Babatunde Fashola, who was represented by Mrs. Folashade Oje, explained that the federal government has put in place mechanism that would help develop the power sector.

    According to her, “We are trying to make business attractive in Nigeria in a way that the bottlenecks and bureaucracy are minimized. The government is trying to look at ways of attracting power investors to the sector. We are aware of the big gap between the supply and what is needed in the industry. “The country generates over 5000Magawatts, MW, and we know that over 80 percent of this generation is from gas fired thermal power stations. The remaining percentage is from the large hydro electric power stations.

    We can’t get to the promise land with this. “If we based only on the gas, honestly, we might not be able to afford it. But when everything is put together we might get to the point where sustainability would be achieved. “Research should be encouraged.

    Government cannot do it all and that is the truth. If we want power, let everyone get involve so we would get to where we want to be in less time.” Also speaking, Commissioner Research, Renewable Energy and Development, Nigerian Electricity Regulatory Commission, Dr. Musiliu Oseni, called for a sustainable pricing in the industry. He said, “If you look at the business environment, in economics we believe that the objective of government is welfare maximization; business is for profit and consumers’ are satisfaction.”

    Original article at Vanguardngr

  • Dangote Sugar to raise N21 bn from capital market
    DANGOTE Sugar Refinery, DSR Plc, has revealed plans to raise N21.2 billion through equity injection from the capital market to fund its backward integration project and also actualise the Dangote Sugar Master Plan. Alhaji Aliko Dangote The Group Managing Director, Mr. Abdullahi Sule, who made the disclosure, yesterday, at the company’s ‘facts behind the figure’ presentation at the Nigerian Stock Exchange, NSE, said the fresh capital would be raised before the end of 2017 financial year.
     
    He explained that the N21.2 billion will form part of the N106 billion budgeted by the company to finance its operations within the next six years, adding that the Board of Directors was in the process of finalising plan for the capital raising and to decide the right mix of funding. Self sufficiency in sugar production Sule stated that the Dangote Sugar Master Plan (DSMP), which is an offshoot of the Federal Government’s Nigerian Sugar Master Plan (NSMP) introduced in 2012, aimed to ensure self sufficiency in sugar production by 2020.
     
    While the nation consumes average of 1.3 million metric tonnes per annum, MT/pa of sugar, the NSMP aims to produce 1.7 million metric tonnes of sugar per annum within the specified period, and Dangote Sugar as a dominant player in the industry has undertaken to produce 1.5 million Mt per annum of the nation’s need. He said that the DSMP is in two phases, with the first phase targeting production of 690,000 MT of sugar across five sites in Adamawa and Kebbi States, while the second phase will result in production of 881,000 MT of sugar and creation of 75,000 jobs. “Dangote Sugar is a zero debt company for all these number of years.
     
    But it is also a company that still has some sizeable amount of cash. Therefore, we decided that in this first three years that we have budgeted that we are going to spend roughly N106 billion on the project and out of that, the Board members decided that 20 per cent is going to be equity. “We believe that between now and the end of the year, we should be able to fund the 20 per cent. So, that is why it is taking us time actually to make final decision about coming to the market, whether we are going to go for an Extra-ordinary General Meeting, EGM, in order to raise grant, whether we are going to get it in form of loan.”
     
    ‘The bottom-line, actually, is that you have no fears because your company is in a position to borrow if we decide to go borrowing and most likely still pay some dividend while we are on the way borrowing,” he assured. On the company’s financial position, he said that shortages in gas supply, which forced it to switch to high cost LPFO, increases in prices of raw materials as well as foreign exchange challenges resulted in 100 per cent rise in cost of sales in the first quarter ended March, 2017.

    Original article at Vanguardngr
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