Foreign Aid Is Simply Not Good … Akufo-Addo Reiterates In Nigeria

Former President Nana Addo Dankwa Akufo-Addo has reiterated his stance on reducing Africa’s reliance on foreign aid, emphasising the urgent need for economic self-sufficiency.

According to him, true independence for African nations hinges on building strong institutions, developing local industries and creating sustainable economic opportunities.

“We cannot continue to rely on foreign aid as the foundation of our economies. True independence means strengthening our own institutions, developing our industries and creating opportunities for our people,” he said.

He was delivering a speech on Thursday, February 20, 2025 in Abuja, Nigeria, at the launch of the autobiography of General Ibrahim Babangida.

Coup d’états

The former president also expressed disappointment about the re-emergence of military coup d’états in West Africa.

According to him, up until a few years ago, he had no doubt the region had built consensus that multi-party democracy would be the most suitable form of governance structure for the continent, including West Africa.

“I feel a deep sense of disappointment that military coup d’états have come back in fashion in our region and are seen as the answer to the instability being spread from the Sahel by Jihadist activity and by some as the answer to difficult economic conditions or unpopular government policies,” he said.

“In a democracy, elections must be free, fair and transparent. Political leaders have a responsibility to respect the will of the people and strengthen institutions that uphold democratic principles,” Akufo-Addo added.

The comments by former President Akufo-Addo reflect growing concerns that political discontent, economic hardship and corruption are fuelling public dissatisfaction with democracy, making military interventions more appealing to some populations.

The former president urged ECOWAS and African leaders to take proactive measures to reinforce democracy in the Sahel, warning that political instability creates fertile ground for extremism, insecurity and economic decline.

He emphasised that Ghana’s experience demonstrates both the strengths and vulnerabilities of democratic governance, stressing that the judiciary and electoral bodies must maintain public trust through greater transparency and accountability.

In the estimation of former President Akufo-Addo, the work of the leadership of the region and continent with its people has been cut out all over again.

In furtherance of that, the people must be convinced again that the road to prosperity would be faster and longer-lasting when we are democratic.

THE BOOK

Akufo-Addo also praised General Ibrahim Babangida’s autobiography, describing it as an insightful account of West Africa’s political evolution and a valuable resource for understanding the challenges of leadership.

He commended Babangida for offering a candid reflection on his tenure, the complexities of governance, and the lessons that today’s leaders can draw from past experiences.

According to Akufo-Addo, the book serves as a crucial historical document that provides perspective on how African nations can navigate the delicate balance between democracy and stability.

Former President Akufo-Addo said the book reminded all that if a civilian, constitutional government felt under constant threat of destabilisation and had to spend far too much time and resources on security, a military government was under even more threat of insecurity.

He added that if it was overwhelming to end poverty and keep food prices down, they are mostly more tolerable when compared with the unpredictable things that hit a government in Africa.

“If it is a difficult and exhausting process to come up with a plausible and workable foreign policy for an African country today, it was a bigger nightmare at the time, described in A Journey In Service,” he said.

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