Kingsley Moghalu, president of the African School of Governance, has called on African countries to leverage public-private partnership investments to achieve continental economic liberation and prosperity.

Mr Moghalu, a former Central Bank of Nigeria deputy governor, made the call on Thursday at the seventh annual lecture of the Association of Foreign Relations Professionals of Nigeria in Abuja.

Mr Moghalu said that although most African countries achieved political independence from colonial powers, economic freedom was not achieved.

“PPPs represent an innovative approach to economic transformation in the context of a market-leaning developmental state. The journey toward economic liberation and the dismantling of neo-colonial structures requires deliberate action.

“By embracing PPPs, strengthening institutional frameworks and investing in leadership development, we can leverage the private sector for development outcomes. We can also avoid debt traps and pave the way for a self-reliant and prosperous Africa,” he said.

He stated that Africans should leverage PPP investments to redefine the continent’s economic landscape. This, he explained, would ensure that future generations inherit a continent characterised by growth, equity and true sovereignty.

Minister of Foreign Affairs (State) Bianca Odumegwu-Ojukwu commended AFRPN for contributing to nation-building through a public lecture series on PPPs.

According to her, PPPs help the federal government leverage the expertise and efficiency of the private sector by raising capital and inspiring development amid regional challenges.

“This forum is, therefore, important as it helps to bring together stakeholders to consider the avenues for policymakers to reassess macroeconomic conditions affecting private sector development.

“It also helps to provide focus on reforms that are imperative for the conducive business environment, supporting an entrepreneurial and innovative ecosystem,” she said.

Ms Odumegwu-Ojukwu added that this would promote productivity and better working conditions for business growth and sustainability.

(NAN)