{"id":1278,"date":"2022-06-13T23:56:52","date_gmt":"2022-06-13T23:56:52","guid":{"rendered":"https:\/\/citywatch.ng\/osinbajo-urges-caution-on-economic-sovereignty-nigeria-news-june-13-2022-nnn-news-nigeria\/"},"modified":"2022-06-13T23:56:52","modified_gmt":"2022-06-13T23:56:52","slug":"osinbajo-urges-caution-on-economic-sovereignty-nigeria-news-june-13-2022-nnn-news-nigeria","status":"publish","type":"post","link":"https:\/\/citywatch.ng\/?p=1278","title":{"rendered":"Osinbajo Urges Caution On Economic Sovereignty – Nigeria News June 13, 2022 – NNN NEWS NIGERIA"},"content":{"rendered":"

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NNN<\/a>: Vice President Yemi Osinbajo<\/a>, says Africa\u2019s developmental aspirations can be actualised by deepening cooperation and collaboration with the rest of the world.<\/em><\/strong>
Osinbajo\u2019s spokesman, Laolu Akande, in a statement on Monday, said the vice president spoke at the opening session of a panel on the ongoing Africa CEO<\/a> Forum holding in Abidjan, Cote d\u2019Ivoire.
Osinbajo talked on the importance of collaboration bet<\/a>ween Africa and the rest of the world, saying there is the need for caution on the issue of economic sovereignty.
The theme of the forum is, \u201cEconomic Sovereignty: From Ambition to Action.\u201d
The vice president who had arrived in Cote d\u2019Ivoire on n Sunday night was welcomed at the Felix Houphou\u00ebt-Boigny International Airport by the Prime Minister of Cote d\u2019Ivoire, Mr Patrick Achi<\/a>.
Other speakers at the panel were President Nana Akufo-Addo<\/a> of Ghana<\/a>, the Managing Director of the International Finance Corporation, Mr Makhtar Diop<\/a>, the Governor of the Kenya<\/a>n Central Bank, Dr Patrick Njoroge<\/a>, the CEO<\/a> of Telcar Cocoa, Kate Kanyi Tometi-Fotso and CEO<\/a> of Instadeep, Karim Beguir.
\u201cI think that we have to be a bit more careful with the concept of economic sovereignty because we really need to collaborate more and with the way that development is going, we need to watch some of these things.
\u201cFor instance, if we look at the way that technology is going which is key for us in Nigeria<\/a>, particularly issues of taxation of tech companies and all of that, it is evident that this is difficult and it is a major expression of sovereign power \u2013 the power to tax.
\u201cThe way that the world and technology are structured today, there is no way that you can use the same basis \u2013 personal and territorial basis for taxation.
\u201cThese are multinational enterprises that spread across countries and continents.
\u201cWe have got to cooperate with the world and the international tax system to ensure that we are able to derive maximum benefit; we have got to take a seat at the table and ensure that all of the various initiatives on international taxation favour us in Africa.\u201d
According to him, while Africa is looking inwards, it has to be very careful to look outwards as well because a lot of money is obviously used by tech companies across the world and a lot of African countries are value creators for these companies.
The vice president said there was a great need for Africa to look inwards and at the same time keep its eyes on the ball because it needed to recognizlse that the world had gone beyond brick and mortar.
\u201cThe world is now more about intellectual capital. We have to think of how we can work with the world to achieve maximum benefit for our intellectual capacity,\u201d he said.
In an interaction with organisers of the forum, the CEO<\/a> of BUA<\/a> Group, Alhaji Abdulsamad Rabiu<\/a>, spoke about the concept of economic sovereignty, urging Africa to look inwards as a way of fast-tracking development on the continent.
He cited leveraging opportunities provided by the Africa Continental Free Trade Agreement (AfCFTA<\/a>) and improving infrastructure as some of the key areas that leaders in the continent must focus on.
Earlier at the opening ceremony of the forum, President Alassane Ouattara<\/a> of Cote d\u2019Ivoire commended the initiative of the organisers to bring together public and private sector leaders across the continent and beyond to discuss and develop new paths aimed at boosting the transformation of economies across Africa.
He said that though the COVID<\/a>-19 pandemic might have negatively impacted growth projections in the continent, the vision of the forum and similar efforts were geared towards fruitful collaborations, \u201cbuilding new partnerships between the public and private sectors, especially providing opportunities for young Africans with particular focus on green economy.\u201d
On his part, the President and Founder of the Africa CEO<\/a> Forum, Amir Yahmed, commended leaders across the continent for their efforts despite the disruptions in the global economy occasioned by the COVID<\/a>-19 pandemic and the Russia<\/a>–Ukraine<\/a> conflict.
He said that economic sovereignty, green economy and industrial transformation, among others, are new paths to Africa\u2019s prosperity.
Yahmed added that the projected impact of the AfCFTA<\/a> on economies across the continent is premised on a viable and productive economy.
Osinbajo is also billed to hold bilateral meetings with the Managing Director of the International Finance Corporation (IFC)<\/a>, Mr Makhtar Diop<\/a>, and the United Nations<\/a> Secretary General\u2019s Special Advocate on Inclusive Finance for Development, Queen Maxima of Netherlands<\/a>.
(NAN<\/a>)
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NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. We are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and we strive diligently to ascertain the truth in every news report. Contact: editor @ nnn.ng<\/strong>. Disclaimer<\/a>.
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PublishedonByNNN: Vice President Yemi Osinbajo, says Africa\u2019s developmental aspirations can be actualised by deepening cooperation and collaboration with the rest of the world.Osinbajo\u2019s spokesman, Laolu Akande, in a statement on Monday, said the vice president spoke at the opening session of a panel on the ongoing Africa CEO Forum holding in Abidjan, Cote d\u2019Ivoire.Osinbajo talked […]<\/p>\n","protected":false},"author":1,"featured_media":1279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nOsinbajo Urges Caution On Economic Sovereignty - Nigeria News June 13, 2022 - NNN NEWS NIGERIA - City Watch<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/citywatch.ng\/?p=1278\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Osinbajo Urges Caution On Economic Sovereignty - 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