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REVIEW OF GRASSROOTS ECONOMY, KEY TO NATIONAL DEVELOPMENT- PRINCESS AKOBUNDU

For the Nation to attain greater heights in global economic circle, there is need for self-assessment of economic practices particularly at the grassroots level with the aim to embrace and work towards global best practices says Princess Gloria Akobundu, National Coordinator/ Chief Executive Officer, African Union Development Agency- New Partnership for Africa’s Development, AUDA-NEPAD Nigeria.

Akobundu made the call as a member of the Panel of Discussants at the Inaugural Partnership Economy Summit Abuja with the theme “Translating Global Goals into Local Businesses in Nigeria organized by the Federal Ministry of Special Duties and Inter-Governmental Affairs.

Akobundu while responding to a paper presented by Princess Adejoke Orelope-Adefulire, Senior Special Assistant to the President on Sustainable Development Goals, titled ‘Partnership Economy Nigeria as a Multi-stakeholders platform in pursuit of Translating Global Goals into Local Businesses for SDGs in Nigeria adopting Peer Review Mechanism among the participating Local Government Councils and Areas on the platform of the Government Citizens Partnership.

Akobundu, was represented by Director, APRM Department, AUDA-NEPAD, Mrs Adefunke Adimula.she reiterated the need for sub-national government to embrace Peer Review Mechanism in order to attain global development standard in their areas of comparative advantages. According to Akobundu, there is need to introduce technology into every economic activity at the grassroots. “What to do is not really a challenge as every society in Nigeria is notable for one production or the other but there is an urgent need to transform to global way of production to maximize output.”

Farming is common to every community, but when compared to how it is done in other climes where they have greater outputs and toil less you will discover that the difference is the use of the right technology. “Let us Peer Review each other’s economic system with love, not to shame each other so that together we can fasttrack the growth of our local businesses.”

African Union came up with APRM for voluntary self-assessment among member states and it has also helped in the pursuit of AU- Agenda 2063 ‘Africa We Want’, APRM tool can also be adopted at the sub-national level for greater development. Orelope-Adefulire, represented by Ms Patricia Aniebue, said all the 17 Goals of SDG-2063 would make individual society and by extension, the country to become condusive for all.

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