Don’t let external forces shape Africa’s destiny: ARDA calls for development finance plan

Stanley Ihedigbo

African Refiners and Distributors Association (ARDA) has called for a development finance plan tailored to Africa’s needs, emphasizing the importance of self-determination in shaping the continent’s economic destiny.

ARDA President, Abdul Hamid, addressing delegates and media at the Century City Conference Centre said the solution being articulated on the global stage – loudly acclaimed by the United States under the leadership of Donald Trump – was ‘looking inward’. Africa needed to follow suit.

Europe, he said, has also banded together, aware that support from the US was no longer on the table. “We need to develop Afrocentric solutions for our problems and to plot strategies to promote Africa,” he said.

“For too long, Africa had been shaped by external forces but now is the time for us to take the lead and tell our own story. We must provide security for 600 million energy-poor people.”

Speaking to the 600 delegates, Anibor Kragha, Executive Secretary of ARDA, advocated three primary standards to be applied to the task: Think boldly; Collaborate – and prioritize the African people.

“While the President of the US cries ‘Drill, Baby, Drill’ – Africa’s priority must be ‘Refine, Baby, Refine’, with significant downstream investments.”

“Africa needs its finance plan – to ensure that we underline that we are not just talking.”

Secretary General of APPO – the African Petroleum Producers Association , Dr Omar Farouk Ibrahim, said that with Africa’s abundant energy resources, the needs of the continent had not been prioritized.

‘We have always accepted that others have the right to use our resources. The entire African endeavor is externally controlled. We export 75% of our oil and 45% of our gas, leaving us with none of our own. But Africa is changing for the better.

“We will develop technologies and take charge of our marketing. We cannot declare that we have no market, it is our responsibility to develop that internal market, and the new Africa Energy Bank is established to take charge of financing our projects. It is an independent bank to cover all forms of the energy industry.”