The immediate past President and Chief Executive of African Export and Import Bank (Afreximbank), Professor Benedict Okey Oramah, has stated that African leadership must act with courage and innovation to ensure that the current winds of deglobalisation would not stifle the continent’s opportunity to develop.
Oramah stated this in Lagos on Monday night at the Nigeria-British Chamber of Commerce (NBCC) “2025 Presidential Inauguration Dinner,” where he spoke on the theme “Stewarding the Future: Leadership, Trade and Transformation.”
The dinner marked the inauguration of Mr. Abimbola Olashore as the 19th President and Chairman of Council, NBCC.
Oramah wondered why the world is abandoning the global framework that had worked for development of other continents at the time the development train was headed to Africa for boarding and stated the duty of responsible African leadership is to respond to that question by acting.
“I say this because, true leadership that envisions and acts with courage and innovation should attempt to convert every challenge into an opportunity, leveraging its network, and opportunities.
“The disruption of globalisation cannot therefore be the end of the road for Africa and Nigeria,” Oramah said.
According to him, “African leadership must abandon the luxuries of privilege and embrace the duty of sacrifice.
“It must overcome fear and assume the mantle of courage; the audacity to vision and act.”
He said that “taking one’s destiny in one’s hands is leadership in action. Refusing to succumb to a victim mentality when others take actions that challenge us is leadership in action. Turning challenges into opportunities is leadership in action.”
Oramah remarked that 60 years delay and inaction to implement the decision of the first general assembly of the then Organisation of African Unity in 1963 on realising intra-African trade robbed Africa the promise of globalisation and amounted to leadership denied.
“But today, we have acted; we are standing up to our responsibilities. That is why I am confident that with, or without globalisation, Africa’s trade driven transformation is on its way,” he said.
In his opening remark, the former governor of Lagos State, Mr. Babatunde Fashola (SAN), said that it is only the mindset of Africans that would limit the continent’s capacity to trade with one another in a world that has golabalised and digitised?
Fashola also mentioned that trade and diplomacy are the hand tools of development and urged nations, including Nigeria, to be conscious on how they deploy these tools, especially now that tariffs are playing big roles in international trade.
He said that nation-states should protect all opportunities they have to improve trade and development with commitment to maintain law and order.
Fashola said: “There is work to be done in the area of law and order, which is a cloud that can threaten these brightly shining stars.
“Law and order, safety and security can become a very big threat to productivity and investments.”
In his acceptance speech, Olashore said: “I stand before you today with profound gratitude and a deep sense of responsibility as I humbly accept the honour of serving as the 19th President and Chairman of Council of the NBCC. This is a privilege I do not take lightly, and I am truly humbled by the confidence you have reposed in me.
“Tonight is not just about an inauguration, it is about continuity, transformation, and renewed commitment to the vision of strengthening Nigeria-UK trade relations for the prosperity of our business community and our nation.”
He added: “As we look ahead, I am mindful of the realities of our time global economic shifts, domestic challenges, and the fast-changing dynamics of international trade.
“Yet, I am even more convinced that the NBCC is uniquely positioned to lead, to influence, and to drive meaningful impact.”
Dike Onwuamaeze
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