Osinbajo Urges African Leaders to Build a Resilient, Prosperous Economy to Retain Citizens

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To combat brain drain, former Nigerian Vice President H.E. Prof. Oluyemi Oluleke Osinbajo has urged African leaders to create an environment that rewards the talents of their people, thus preventing the exodus of skilled labor to other continents.

Highlighting the ongoing brain drain in African countries, Prof. Yemi Osinbajo, who served as Attorney General of Lagos State from 1999 to 2007, emphasized that labor will naturally gravitate towards places where it is best rewarded.

Speaking at the BOMA of Africa event, held alongside the Africa Union’s Mid-Year Coordinating Meeting in Accra last Saturday, Prof. Osinbajo stated, “Labor is always going to find the place where it is best rewarded. Anywhere in the world, wherever labor is best rewarded, that’s where it’ll go. That’s why there are lots of movements all across the world. It’s, therefore, best for Africa to create the environment for rewarding talent.”

He noted that experts predict that by 2050, up to 25% of the global workforce could be of African origin, with 42% of the youthful workforce being African.

“An energetic pool of youthful talent fortified with fast-advancing artificial intelligence and the geoengineering edge of a world that is desperately in need of a new economic growth paradigm is an edge that the rest of the world ignores at great risk,” he added.

Prof. Osinbajo stressed the importance of integrating trade and digital transactions to build a resilient and prosperous economy, stating, “Integrate trade, digital transaction and work together to build a resilient, rich, prosperous economy and then people will stay and people will come from everywhere in the world to Africa. There’s no other solution.”

Regarding Africa’s health development readiness, Prof. Osinbajo praised the continent’s response during the pandemic, noting the collaboration between Panavirus and the Africa CDC, facilitated by AfroChampions, which led to the creation of the world’s first vaccine passport.

“The Panavirus platform digitally connected labs and hospital facilities, as well as pathogen genomic centers in 20 countries of Africa,” he added.

AUDA-NEPAD and AfroChampions, along with other strategic partners, have hosted the annual BOMA of Africa event during African Integration Week since 2019. This year’s BOMA was aligned with the AU Mid-Year Coordination Meeting, further highlighting its significance.

The BOMA of Africa has become a premier platform for showcasing the continent’s achievements in unity and integration. The event aims to inspire concrete actions across various fields such as science, technology, education, the creative arts, and entrepreneurship.

The 2024 BOMA of Africa is a strategic milestone towards achieving the Africa We Want. AUDA-NEPAD and AfroChampions reaffirm their commitment to the goals of Agenda 2063, setting a precedent for accountability, innovation, and unity across the continent.

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