Hot Source
*Alaje: US’ invasion not good for macroeconomic stability, urges diplomatic approach
Ndubuisi Francis in Abuja
Vice-President Kashim Shettima; presidential candidate of the Labour Party in the 2023 elections, Peter Obi; renowned Kenyan scholar, Prof. P.L.O Lumumba, and many other eminent personalities are billed to provide perspectives on how Nigeria can lead the African continent from poverty to prosperity.
The event is the second Paul Alaje Foundation Colloquium scheduled for The NAF Conference Centre, Abuja on November 15, 2025.
Former President Olusegun Obasanjo was the keynote speaker at the maiden edition, which prescribed far-reaching solutions to the nation’s economic challenges.
Speaking at a pre-event press conference in Abuja, Tuesday, Fehintoluwa Oduekun, Chairperson of the Local Organising Committee (LOC) of the event, which is convened by Dr. Paul Agabje, said the theme is ‘Breaking the Cycle: How Nigeria Can Lead Africa from Poverty to Prosperity.’
“Nigeria, the 4th largest economy in Africa, stands at a decisive crossroad. Despite its human and natural endowments, the nation continues to grapple with rising poverty levels, weak institutions, and uneven economic opportunities.
“The time has come to examine why the cycle persists and how deliberate policy, innovation and governance reforms can lift millions out of multidimensional poverty. This colloquium seeks to confront these issues head-on with data-driven dialogue and actionable ideas.
“The theme is particularly timely as Africa navigates a changing global economic landscape marked by shifting trade flows, climate imperatives and digital disruptions. Nigeria’s leadership, if re-energised with a clear national vision and inclusive strategy, could set the pace for Africa’s transformation—moving from aid dependence to productive prosperity.
“’Breaking the Cycle’ therefore challenges policymakers, private sector actors, and citizens alike to re-imagine Nigeria’s role in leading Africa’s march towards shared wealth and sustainable growth,” she said.
According to her, the colloquium is broken into four major thematic pillars that will define Africa’s journey from poverty to prosperity.
These are: Economic Transformation – From consumption to production, agriculture, and sustainable financing models as well as Governance & Institutions – Building integrity, continuity, and accountability in public leadership.
Others are Technology & Innovation – Leveraging AI and digital tools to accelerate inclusive growth as well as Security & Sustainability – Addressing insecurity, climate resilience, and the transition to a green economy.
Oduekun disclosed that the Foundation also this year launched an essay competition for students in three categories, including Postgraduate– ₦1,000,000 grand prize; undergraduate– ₦750,000 grand prize, and secondary school– ₦500,000 grand prize.
She aadded that registration and participation is free but strictly by registration, urging delegates and interested participants to register online.
Responding to questions at the press conference, the convener of the forthcoming colloquim, Dr. Paul Alaje, a renowned economist, noted that during the maiden colloquium, former President Obasanjo raised concerns about insecurity.
He also stated that the colloquium advised the Federal Government and the monetary authorities not to allow the local currency to continue on a free float, adding that managed float was recommended.
He expressed delight that the authorities heeded the advice, resulting in the current stability of the naira.
He urged the Federal Government to adopt a calculated diplomatic approach to avoid United States’ military intervention.
Alaje argued that any military intervention at this time would upset the macroeconomic stability so far achieved.
He noted that the fall in stocks on Monday due to President Donald Trump’s threat to attack terrorist camps in Nigeria was a wake up call.
