Obi links Africa’s insecurity to poverty, unemployment, corruption

The 2023 Labour Party presidential candidate, Peter Obi, has emphasized the connection between Africa’s insecurity and poverty, unemployment, corruption, and inequality.

According to a press statement by Ibrahim Umar, POMR Spokesman, Obi made this assertion at the Athens International Dialogue, a gathering of global leaders.

“I joined global leaders for a Leadership Dialogue focused on governance, particularly in the areas of security and the economy in today’s world, and the lessons for future leaders,” Obi stated.

He further observed that “in Africa, we face high levels of insecurity, alarming corruption, worsening poverty, huge youth unemployment, and gross inequality.”

“Over 50% of the world’s multi-dimensionally poor live in Sub-Saharan Africa. Nigeria and Congo both have over 60% of their populations living in poverty and suffer from unacceptable levels of inequality,” he added.

(L – R) Mr Peter Obi, Leader of the Labour Party, Nigeria; Andres Pastrana, Former President of Colombia and Adalberto Costa Junior, President of UNITA, Angola, at a Leadership Conference in Athens, Greece, yesterday.

He stressed the need for urgent action, saying, “future African leaders must take bold, accelerated, just, and transformative actions to achieve far-reaching, people-centered development.”

The Athens International Dialogue brought together former presidents, prime ministers, serving and retired senior government officials, military chiefs, renowned academics, and sports personalities to discuss global governance challenges.

Gory statistics:

Africa faces significant development challenges, with poverty, unemployment, and corruption forming a vicious cycle that hinders economic growth and undermines human well-being.

The Poverty problem

Over 736 million Africans live in extreme poverty, accounting for 60% of the world’s poor.

The World Bank reports that 413 million Africans lived on less than $1.90 a day in 2020.

Sub-Saharan Africa has the highest poverty rate, with 40% of the population living below the poverty line.

Countries like Burundi (74%), Central African Republic (71%), and the Democratic Republic of Congo (63%) have the highest poverty rates.

*Unemployment: A Ticking Time Bomb

Africa’s youth unemployment rate stands at 13.4%, with 75 million youth unemployed or underemployed.

North Africa’s youth unemployment rate is as high as 29%. Countries like South Africa (34%), Nigeria (23%), and Egypt (22%) have significant youth unemployment rates.

The African Development Bank estimates that Africa needs to create 12 million jobs annually to absorb new entrants into the labour market.

*Corruption: A Major Obstacle

Corruption is endemic in Africa, with the continent losing $89 billion annually to illicit financial flows.

Transparency International’s Corruption Perceptions Index 2022 ranks 44 African countries below 50 out of 100, indicating high corruption levels. Countries like Somalia (13), South Sudan (13), and Yemen (15) rank among the most corrupt globally.

Corruption undermines economic growth, discourages investment, and exacerbates poverty.

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