Nigeria's path to ending foreign aid dependency

Nigeria's path to ending foreign aid dependency

Nigeria's development has long relied on foreign aid, creating a dependency that hinders sustainable growth. Over the past decade, the US provided $7.8 billion in aid, supporting healthcare, security, education, and economic development. With the new US administration cutting funding, Nigeria faces an urgent need to address this shortfall. How can Nigeria end its aid dependency?

Africa will not be developed by aid, rather through investments – AfDB President

The President of the African Development Bank Group and Chairman of the Africa Investment Forum, Dr. Akinwumi Adesina has reiterated his point that Africa needs investor partnerships to develop, not aid. Buoyed by last year’s successful Africa Investment Forum’s Market Days that generated $29.2 billion of investment interest, its nine founding partners are bracing for an even bigger and better event later this year. The 2024 Africa Investment Fo…

Africa Doesn't Need Aid. It Needs Control Over Its Critical Minerals – The Standard Newspaper

By Maxwell Gomera The decision of US President Donald Trump’s administration to suspend foreign aid and shut down the USAID agency has sent shockwaves across the development industry. In 2024, nearly a third of the US$41bn in US foreign aid went to Africa, helping support various sectors from healthcare to education and sanitation. But as aid organisations sound alarm bells and government officials wring their hands over suspended programmes, we…