The London School of Economics and Political Science (LSE) in none other than London, England was ranked as the tenth best university in the world for business and economics in 2015 (US News and World Report). This weekend April 24 – 25 the school marked its third annual LSE Africa Summit.
The conference’s overall focus was good news about the business achievements of individuals, groups, and politicians on the the African continent, specifically as can be read on the official summit website, highlighting “Africa’s contributions to the world.”
The event brought many key economic policy wonks like Dr. Léonce Ndikumana, Professor of Economics at the University of Massachusetts Amherst and Dr. Carlos Lopes, Executive Secretary of the UN Economic Commission for Africa as well as Governor Akinwunmi Ambode of Lagos, keynote speaker at the business end of the conference. Ambode had no qualms about fulfilling many promises in relation to the second most populace city in Africa.
- An equivalent of $250 million will be contributed by the State over four years in order to empower youth to create wealth
- As well as a gradual increase in the budgetary allocation to education from 7% in 2015 to 20% over the next four years
He also said something very telling, “by 2050, Nigeria’s population will be 400 million, making it the world’s 3rd most populous nation, more than the US”. It is no wonder that each year of the summit has featured key figures in Nigerian politics and news like Nigerian blogger JJ Omojuwa who was also in attendance.
The overwhelming theme throughout panel discussions was education being key to economic freedom for all 54 African countries, the over-dependence on Chinese business aid, Africa’s number one business partner, and dependence on humanitarian aid could be key areas to target in facing this thematic challenge.
Time will tell.