A Commonwealth Scholar, Mr Magnus Onyibe, has urged African leaders to seize the opportunities embedded in the new world order presented by Trump 2.0 to tackle unfair trade on the continent.
Onyibe, who is also a columnist, made this assertion at the Commonwealth Institute of Advanced and Professional Studies (CIAPS) Public Roundtable on Tuesday in Lagos.
The roundtable has it theme as: Trump 2.0 and Africa.
Onyibe, also a columnist, said that African leaders must prioritise their citizens’ welfare over personal opulence.
He said: “However, on a larger scale, we also have to blame the world, because the reason Africa is undermined and underperforming is unfair trade.
“Unfair trade; meaning that the rest of the world has decided that Africa will be a supplier of raw materials and not of finished goods.
“That is why we still export raw cocoa. Do you know that Nigeria earned about $400 million from the export of cocoa seeds in 2022, while Germany, a non-producer of cocoa, earned about $6 billion from chocolates?” he asked.
Speaking on industrialisation and Trump 2.0, Onyibe said that Africa was not benefiting from the old world order.
“We have been made to be producers of raw materials. With Trump 2.0, he’s changing the world order, and I am saying that Africa should position itself so that it will move out of that cocoon and also become a producer of processed products.
“It is about positioning Africa from the old world order to a new world order where it will become more relevant to the world and create more prosperity for the long-suffering people of Africa,” he added.
He also commended President Bola Tinubu for deploying an Executive order on fuel subsidy, stating that Nigerians would soon enjoy the gains.
Onyibe said that the pump price of fuel had become competitive, there is room for private partnerships in the establishment of refineries, and he foresees a further reduction in the pump price of petrol.
He also identified energy as a bottleneck in the quest to seize opportunities but urged private investments in the energy sector.
On the part of the convener, Prof. Anthony Kila, CIAPS Director, said that the purpose of the roundtable was to contribute to conversations that shaped lives.
According to Kila, these conversations are opportunities to, where possible, give input to things that will affect the general public.
“I think the rest of the world, when they look at what is happening in America and elsewhere, needs to think of two things.
“Number one is that America is a sovereign country. Technically, they can do whatever they like, whether we like it or not.
“What matters is how we react to it and how we influence it. So, it is not enough to say we like what is happening in America or hate it.
“What really matters is what consumer citizens, policymakers, and leaders are doing about what’s happening in America and in the rest of the world,” he said.
Kila, therefore, called on Nigerian leaders to take cognisance that the world is changing with the new world order and should put three things into perspective.
The professor of Strategy and Development said: “One is definitely the need to strengthen their own positions internally and then to decide how they want to act with America, whether they are going to negotiate directly or together with Africa.
“To also consider the possibility of a new alignment to review relationships with China, Singapore, the EU and the UK.
“To be aware that the America of pre-Trump is not the America of Trump now. It is a different ballgame,” he said.