- Unlocking Africa’s industrial potential requires investment in energy infrastructure, regional trade routes, and skill development.
- Africa’s growth potential depends on coordinated governance, affordable finance, and stronger regional value chains.
The Managing Director of the Bank of Industry (BOI), Olasupo Olusi, has called for coordinated efforts to unlock Africa’s industrial potential and drive sustainable growth.
Speaking at the National Defence College in Abuja, Olusi said Africa has the talent and resources needed for rapid industrialisation but must pursue it through strategic planning and consistent execution. He outlined a five-point roadmap focusing on infrastructure, energy reforms, affordable long-term finance, human capital development, and stronger regional value chains.
Olusi described this as a defining period for Africa, with global trends such as the green transition and emerging technologies creating opportunities for transformation. He noted that Africa requires $25 billion annually until 2030 to achieve universal electricity access, a goal that would lower industrial costs and improve productivity.
He highlighted key infrastructure projects like the Lagos–Abidjan Highway and Trans-Saharan Trade Route as essential to boosting trade and regional integration. Olusi also urged governments to prioritise skill-based education and support youth-driven innovation, stressing that access to affordable finance is the “oxygen” of industrialisation.
He encouraged African nations to leverage the AfCFTA to strengthen cooperation and build regional value chains. In conclusion, Olusi emphasised that a secure Africa must also be an industrialised Africa capable of producing its own food, medicine, and machinery.