Abuja - Nigeria is to host the seventh Joint AU/ECA Conference of Ministers
of Economy and Finance, Planning and Economic Development, between March
27 and April 1, 2014 in Abuja, an ECA statement said on Tuesday.
The statement stated that the Abuja conference, with the theme "Industrialisation for Sustainable and Inclusive Development in Africa",
would articulate concrete proposals for the accelerated implementation of
the Industrial Development of Africa (AIDA) document.
It said that the conference would seek to enhance commitment and
actions towards the advancement of Africa's industrial development
According to the statement, the industrialisation of Africa is
essential as it offers alternative economic source outside the extractive
and commodity-producing sectors.
“In turn, the capital intensive nature of the extractive sector and the
limited inter sectoral linkages between the primary sector and other sectors
of the economy, create limited opportunities for value chain development, value
addition and job creation.
“Moreover, the primary sectors are characterised by low productivity and low
wages which render employees vulnerable to poverty, “the statement said.
It therefore added that the Abuja conference would build on
the resolutions adopted at this year's Joint Annual Session in
Abidjan, which identified the need to address the challenges
at national, regional, continental, and international levels.
NAN reports that the conference, organised by the ECA, the African Union
Commission (AUC) and the Nigerian Government, would
also be attended by Governors of Central Banks and key leaders from
the private sector.