Avoid over-dependence on foreign aids - Czech president

Kunle Awosiyan, Lagos - 30.11.2007

The President of Czech Republic, Mr. Vaclav Klaus, has identified imposition of international standard, lack of clear focus and over-dependence on foreign aids as obstacles to economic development in Africa.

Klaus, speaking at the 9th session of the Emmanuel Anyiam-Osigwe Lecture in Lagos State on Thursday, said that imposition of international standards on Africa had hindered the exporting capacity of the continent.

He said “the international standard is politically motivated and has a great influence on the development of African economy. “I’m not saying that standardisation is not good, but it is better introduced by domestic legislation. Imported international standard is a constraint that must be avoided if developing countries must grow,” he said.

Speaking about foreign aids, the president said that financial aids from developed economies were based on the interest of the donors but not necessarily on the needs of the developing countries.

He said “I want to let you know that foreign aids are not free as you thought. The aids are small. It is based on the interest of the donors and many times, the aids are wasted by most benefactors.”

Describing aids as “paying hard money to get soft loan,” Klaus urged the Federal Government to embark on free trade economy rather than depending on foreign aids, saying that free trade would radically open market for foreign investors.

Klaus advised the Federal Government to develop the country’s economy from within, adding that “you must begin to do things by yourself. Since you have not imported democracy, it will be better if you don’t import economy. You need to have clear and transparent idea of where you are going.”

Earlier, the Coordinator-General, Osigwe Foundation, Mr. Michael Anyiam-Osigwe, had said that the lecture was aimed at enhancing the enthronement of ethical conduct in the harnessing of Nigeria’s natural resources for the benefit of the citizenry.