*Decries Reliance On Foreign Investors, Urges Govts To See Fellow Africans As Credible Investment Partners
*‘Delta’s Economy Bigger Than 20 African Countries’
KENYAN scholar and Pan-Africanist, Patrick Lumumba, has lamented the lacks of political will and strategic leadership in Africa required to unlock its human and natural resources prosperity, despite the continent’s over 1.4 billion population, regretting that millions of young Africans continue to risk their lives migrating to Europe in search of opportunities, as recently reported in Spain.
Lumumba, speaking at the Delta State Economic and Investment Summit 2026, in Asaba, on Monday, August 3, said the state possesses all the ingredients required to become a continental economic powerhouse, urging its leaders to focus on harnessing local resources, strengthening institutions and driving industrialisation. He declared that Delta State’s economy is larger than that of over 20 African countries, challenging it to think beyond Nigeria and position itself as one of Africa’s leading industrial and investment destinations. Lumumba urged Delta to stop measuring its success only against other Nigerian states, but instead benchmark itself against thriving economies across Africa and the world, noting: “Your own state has an economy larger than over 20 African countries. “The question is, with all the resources that we have, whether we are talking about agriculture, minerals, oil, pharmaceuticals or the blue economy, what are we doing that is keeping with the demands of the 21st century?” He lauded Governor Sheriff Oborevwori for recognising the state’s strengths and initiating policies to attract investment, particularly the announced $100million Viability Gap Fund to de-risk private sector investments, which he described as the type of bold leadership African governments must embrace if they hope to transform their economies. The lawyer stressed that sustainable development would only be achieved if African governments stopped relying excessively on foreign investors and began recognising fellow Africans as credible investment partners, criticising the continent’s long-standing dependence on foreign capital, insisting Africans possess both the financial resources and intellectual capacity to fund their own development. According to him: “It is deeply tragic that in our interpretation and understanding of who an investor is in Africa, we still don’t think that fellow Africans are investors. We think our investors must be Chinese, Malaysians, Brazilians or Europeans. That is not the case.” Urging stronger regional integration, Lumumba charged Delta State to take advantage of the African Continental Free Trade Area (AfCFTA) by attracting investors from across Africa, rather than focusing solely on international partners. He disclosed that members of the Pan-African Investment Movement had expressed interest in participating in the Summit, but were not invited, urging organisers to ensure broader African participation in future editions, saying genuine African development must be driven by Africans themselves through stronger partnerships and regional collaboration. He urged Oborevwori to build stronger economic partnerships with neighbouring states, particularly Anambra, as cooperation among subnational governments would accelerate regional development and complement Federal Government’s macroeconomic reforms. Lumumba also urged the Federal Government to remove barriers preventing the free movement of Africans across the continent, saying Africa’s economic integration would remain incomplete without easier mobility for investors and entrepreneurs. The scholar advised Delta State to prioritise research, innovation, skills development and industrialisation, as well as invest more in universities and research institutions capable of generating solutions for agriculture, energy, manufacturing and technology. Describing energy as the backbone of industrial growth, Lumumba re-echoed earlier calls for expanded electricity generation and distribution, insisting that no economy could compete globally without reliable electricity supply. He said while Delta possesses abundant natural resources, those resources would remain underutilised unless they were transformed into industries capable of creating jobs and wealth. Lumumba said Delta State had enormous potential to become one of Africa’s leading economic centres if it continued to think bigger, execute bold policies and inspire similar reforms across Nigeria, adding: “Delta looks promising. Keep it that way. “Make it even better. Think beyond yourselves, bearing in mind that you are not truly successful until your successor also succeeds.”
