World
Unlocking NIDO Africa’s Economic and Investment Potential for Nigeria’s Development
By Kestér Kenn Klomegâh
Over the past few years, Jude Osakwe, a Nigerian professor at the Namibian University of Science and Technology (NUST), Continental Chairman, Nigerians in Diaspora Organization (NIDO) Africa, has been working on various aspects of BRICS+ (Brazil, Russia, India, China and South Africa) collaborating with the Global South. Despite the huge noticeable differences in political systems, economic structures and cultural norms, Professor Osakwe unreservedly believes that this diversity can be a source of strength for aligning priorities and especially shaping economic interests for sustainable development. In 2024, for instance, Professor Osakwe presented papers at BRICS+ forums and conferences, organized in mid-March and in August, online BRICS+ discussions that highlighted Nigeria, together with African BRICS members (Ethiopia, Egypt and South Africa), their expected collective roles in the evolutionary development processes across Africa.
In addition, the members of BRICS+ are endowed with resources which, in terms of their level of geopolitical influence, have the potential capability and capacity to drive significant economic growth and development in the African region. However, the challenge is to get organized, hence the necessity to prioritizing dialogue among Nigerians in the Diaspora (NIDO) and its power dynamics, and build a stronger and more effective alliance that can positively impact the lives of millions of people in the Federal Republic of Nigeria, Africa and the Global South.
With the changing times, and shifting geopolitical situation, Professor Osakwe, in this insightful interview, argues that BRICS+ has the potential to drive significant economic growth and development across Africa. In this evolving process, he has further identified Nigeria in Diaspora throughout world, who can be uplifted to play an important role on the BRICS+ platform. The most essential factor here is the fact that Nigeria is currently in the “partner state” category awaiting to become a full-fledged member of BRICS+ in the near future. Here are the interview excerpts:
In practical terms, how would you characterize NIDO Africa in the context of the popular slogan “Africa We Want” as endorsed by the continental organization, the African Union (AU)?
In the context of the popular slogan “Africa We Want,” NIDO Africa can be characterized as a key organization working towards the vision of a united, integrated, and prosperous Africa. NIDO Africa brings together Nigerian professionals in the diaspora to contribute their skills, expertise, and resources to the development of Nigeria and Africa as a whole. This aligns with the African Union’s (AU) goal of fostering unity, solidarity, cohesion, and cooperation among African nations. NIDO Africa’s focus on promoting economic growth, trade, and investment across Africa reflects the AU’s commitment to creating a prosperous and self-reliant continent.
Does Nigeria, as a West African economic power, face similar challenges for integrating and uniting its nationals for development? How would you assess Nigeria’s economy today under President Bola Tinubu?
Nigeria, as a West African economic power, faces similar challenges to other African nations in terms of integrating and uniting its population for development. These challenges include political instability, corruption, inadequate infrastructure, and income inequality. Nigeria’s economy has been heavily reliant on oil exports, which has led to a lack of diversification and vulnerability to fluctuations in global oil prices. While there have been some efforts to diversify the economy and promote non-oil sectors, much work remains to be done to create sustainable and inclusive growth.
Judging from above, NIDO Africa is perhaps prioritizing economic sectors such as agriculture and industry, and increasing exports in the framework of AfCFTA. How and what approach do you envisage in creasing value-added exportable goods? Besides internal market, why external markets are important for NIDO Africa?
NIDO Africa’s focus on agriculture and industry, as well as increasing exports, aligns with the goals of the African Continental Free Trade Area (AfCFTA) to promote intra-African trade, industrialization, and economic diversification. To increase value-added exportable goods, NIDO Africa can prioritize the development of local industries and the promotion of innovation and technology. This can be achieved through partnerships with local and international organizations, the provision of training and capacity building, and the facilitation of access to finance and markets. External markets are important for NIDO Africa as they provide additional opportunities for trade and investment, as well as access to new technologies, knowledge, and expertise.
(A) To increase value-added exportable goods in the sectors of agriculture and industry, NIDO Africa could adopt the following approaches:
(i) Encourage innovation and research: NIDO Africa can invest in research and development to improve production processes, create new products, and enhance the quality of existing ones. This will not only increase the value of exportable goods but also make them more competitive in the global market.
(ii) Promote skills development and capacity building: NIDO Africa can collaborate with educational institutions and training centers to provide specialized training and skill development programs for workers in the agriculture and industry sectors. This will improve productivity, efficiency, and the overall quality of exportable goods.
(iii) Facilitate access to finance: NIDO Africa can work with financial institutions to create financing options for small and medium-sized enterprises (SMEs) in the agriculture and industry sectors. This will help them to scale up their operations, invest in new technologies, and expand their export capacity.
(iv) Foster partnerships and collaborations: NIDO Africa can encourage partnerships and collaborations between local businesses, international companies, and research institutions to share knowledge, resources, and expertise. This will create synergies that can lead to the development of innovative products and services that are competitive in the global market.
(v) Advocate for favourable policies and trade agreements: NIDO Africa can lobby for policies and trade agreements that support the growth and competitiveness of the agriculture and industry sectors. This includes advocating for the removal of trade barriers, the provision of tax incentives, and the establishment of special economic zones.
(B) External markets are important for NIDO Africa for several reasons:
(i) Diversification of markets: By expanding into external markets, NIDO Africa can reduce its dependence on a single market and minimize the risks associated with fluctuations in demand, supply, and prices.
(ii) Increased revenue: Exporting goods to external markets can generate additional revenue for businesses and contribute to the growth of the Nigerian economy.
(iii) Technological and knowledge transfer: Engaging in trade with other countries can facilitate the transfer of technology and knowledge, leading to the development of new products, processes, and services.
(iv) Enhanced competitiveness: Exporting to external markets can help businesses to improve their competitiveness by exposing them to new challenges and opportunities.
(v) Economic integration: Participating in the African Continental Free Trade Area (AfCFTA) can help to promote economic integration and cooperation among African countries, leading to the development of a more prosperous and stable continent.
Can you also discuss the economic advantages of Federal Republic of Nigeria, in the ‘partner state’ category of Brazil, Russia, India, China and South Africa (BRICS)?
Nigeria, as a member of the BRICS partner state category, can benefit from economic advantages such as access to a larger market, increased investment opportunities, and technology transfer. Nigeria can leverage its position to attract investment from BRICS countries in sectors such as infrastructure, energy, and agriculture. Additionally, Nigeria can benefit from the BRICS’ focus on promoting South-South cooperation and supporting the development of African countries.
NIDO Africa’s priority is to increase trade, most probably, to the United States. Does Nigeria support de-dollarizing U.S. currency? What is African Growth and Opportunity Act (AGOA) and its future prospects for NIDO Africa?
NIDO Africa’s priority to increase trade aligns with the goals of the African Growth and Opportunity Act (AGOA), which aims to promote economic growth and development in Africa by providing duty-free access to the US market for certain African exports. While Nigeria is a beneficiary of AGOA, there is potential for further expansion of trade relations between the two countries. De-dollarizing the US currency may not necessarily be a priority, as the US remains an important trading partner for Nigeria and Africa as a whole. However, diversifying trading partners and currencies can help to mitigate risks and promote economic resilience. The future prospects of AGOA for NIDO Africa will depend on the ability of both Nigeria and the US to maintain a strong and mutually beneficial trade relationship, as well as the continued commitment of the US to support African economic development.
By Kestér Kenn Klomegâh
One year after launching a continental initiative designed to make excellence in public governance the foundation of a new drive to transform Africa, LEAD, the Africa CEO Forum’s pan-African leadership programme, takes stock of its first cohort and announces the launch of its second class. Built around a community of senior public decision-makers committed to modernising the state and to the continent’s digital transformation, this new cohort gathers for three days, from 28 to 30 August 2026, on the campus of Mohammed VI Polytechnic University (UM6P) in Rabat, Morocco.
A second cohort that confirms the programme’s durability
For its second class, LEAD brings together 50 fellows, senior public decision-makers engaged in the design and implementation of the continent’s economic and social policies. Over three days, participants take part in collective and collaborative working sessions, peer exchanges and meetings with figures from the public, business and academic spheres, in order to compare their practices and build shared responses to the major challenges of governance.
Speakers include Mehdi Jomaa, former Head of Government of Tunisia, Donald Kaberuka, Managing Partner & Founder, SouthBridge Group, and former President of the African Development Bank, Serge Ekue, President of the West African Development Bank (BOAD), Sanjay Jain, co-creator of India Stack and Director of Digital Public Infrastructure, Gates Foundation, and Mauricio Cardenas, Professor of Professional Practice in Global Leadership, Columbia SIPA, and former Finance Minister of Colombia (2012-2018).
They share their reform experience, their public policy trade-offs and their view of continental priorities. Throughout the programme, the cohort benefits from the dedicated support of Mohammed VI Polytechnic University, Asafo & Co, BOAD, BCG and the African Development Bank, LEAD partners that have chosen to invest in the transformation of African public action.
LEAD, a pan-African community serving public action
Created by the AFRICA CEO FORUM, LEAD is a leadership programme whose ambition is to reposition Africa’s administrative elite as a driver of reform, of performance and of dialogue with all the continent’s stakeholders.
Designed for senior African public decision-makers, LEAD sets out to build a lasting community of public officials able to share their experience, compare their practices and build common solutions to the major economic, technological and institutional transformations under way in Africa. That community is structured around three pillars: modernizing the state, improving public services, and strengthening cooperation between governments, development institutions and private-sector players.
From fellows to alumni: a long-term initiative
Made up of 36 fellows drawn from a range of administrations and institutions and representing 24 countries across the continent, LEAD’s first cohort demonstrated the quality and the potential of this community from its very first year. In less than twelve months, six of its members have taken a significant step forward: two have been appointed ministers, two have moved into strategic positions at the highest level of the state and two have been promoted to chief executive roles. These moves, which account for 16.7% of the first class, show the role LEAD plays as an accelerator of impact within African administrations.
By bringing together a new cohort of fellows every year, each of them joining the LEAD alumni community, the initiative follows a long-term trajectory: in time, to unite several hundred African public decision-makers around a shared culture of transparency, performance and regional cooperation.
A first year devoted to public service and digital public infrastructure
Throughout the year, the fellows devoted their work to strengthening African public action, to make excellence in public governance a central lever of transformation. An awareness campaign, run as part of Africa Public Service Day, brought to light those who, within the continent’s administrations and institutions, are concretely transforming public policy and improving the services offered to citizens.
Members of the cohort also took part in a special round table held in Kigali during the ACF 2026, in order to carry their thinking to a wider community of public and private leaders. That forum reinforced LEAD’s role as a platform for dialogue between the administrative elite and the continent’s economic players. Digital public infrastructure (DPI) formed the main thread of this first year of work.
Discussions covered issues at the heart of the digital sovereignty of African states: digital identity, payments, secure data exchange, interoperability, governance and the protection of citizens. This work examined the conditions under which African states are developing, in some cases, and can develop, in others, shared, open infrastructure robust enough to improve the quality of public services while supporting local innovation and preserving the capacity of public authorities to set the rules of the game.
A white paper to move from consuming technology to creating value
This year of work concludes with the publication, in collaboration with BCG, LEAD’s Knowledge Partner, of a white paper on Africa’s place in the digital economy and in artificial intelligence. With the digital economy still accounting for around 5% of African GDP, against close to 15% worldwide, the paper calls on the continent to shift from a logic of technology consumption to one of value creation.
The white paper identifies three structuring priorities for African public actors:
- Building shared digital infrastructure that serves as the backbone of public services and private innovation.
- Pooling investment in order to reach critical mass and avoid the fragmentation of efforts across the continent.
- Favouring open and interoperable architectures, with trust and governance built in by design, so as to protect citizens while stimulating the entrepreneurial ecosystem.
The white paper is available here to all public decision-makers, technical partners and institutions concerned.
“LEAD’s first cohort confirms a simple conviction: Africa already has the women and men capable of profoundly transforming public action. Our responsibility, either with our partners, is to give them, at pan-African level, a space in which to compare experience, build common solutions and bring forward a new generation of public policy. With this second cohort, we want to accelerate the move from ambition to execution, in particular on digital public infrastructure and artificial intelligence, two decisive issues for sovereignty, for the effectiveness of the state and for value creation across the continent,” says Amir Ben Yahmed, President of the Africa CEO Forum.
By Kestér Kenn Klomegâh
Africa is set to make history as it hosts the World Public Summit for the first time, with Addis Ababa, Ethiopia, welcoming global leaders and changemakers from July 29–30, 2026, for the landmark gathering under the theme “New World: Africa in Shaping a Shared Future.”
The inaugural African edition of the World Public Summit marks a significant milestone in the continent’s growing role in shaping international dialogue on governance, sustainable development, human-centred leadership and global cooperation.
Hosted by the World Peoples Assembly in partnership with African and international organisations, the summit will convene government officials, diplomats, business leaders, academics, journalists, youth representatives, civil society organisations and cultural leaders from across Africa and around the world.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Summit is not just a meeting—it is a space for unity. A space where the ‘values that unite us’ come to life: respect for people, openness to the world, responsibility for the future, and a commitment to creation.
“Today, we understand more clearly than ever: the future cannot be built alone. It is born in dialogue, in trust, in the ability to listen to one another and to act together.”
The programme begins on July 29 with a series of high-level roundtables and expert discussions covering Pan-African economic integration, civil society, education, scientific cooperation, cultural diplomacy and humanitarian partnerships.
The opening plenary, “Values, Development and Partnership as the Basis of a Sustainable and Just World,” will explore how African values—including Ubuntu—can help shape a more inclusive and sustainable global future. Discussions will also focus on youth leadership, innovation, civil society, ethical AI, public initiatives and international partnerships.
The summit will also showcase Africa’s creativity and innovation through the “Innovations for the Future” exhibition, the contemporary African art exhibition “Unity,” and the international exhibition “The World Paints Happiness.”
Another featured initiative is “The Zambezi River: Economy, Society, Soul,” an international interdisciplinary project exploring the river’s socioeconomic importance across Angola, Botswana, Mozambique, Namibia, Zambia and Zimbabwe, highlighting the shared heritage and development potential of one of Africa’s most important waterways.
The event will conclude with the adoption of the African Communiqué, reflecting the summit’s shared vision for stronger international cooperation, sustainable development and people-centred leadership.
Tsegaye Chama, General Secretary of the Global Black Centre, promised that, “The Summit will be delivered with exceptional distinction, reflecting the magnitude and spirit of the World Peoples Assembly. It embodies a unity that is not transactional, but purposeful and conscious, a unity that shapes new contours for a world that works for all peoples of the World.”
As delegates prepare to arrive in Addis Ababa, anticipation continues to build for what promises to be one of Africa’s most significant international gatherings of 2026—one that will place the continent firmly at the centre of global conversations about the future.
By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
