The economic underdevelopment of Africa and third world nations in general will continue until there is a change in the economic design of the world, which was deliberately made to keep poor nations down.
The is the submission of a development economist, Mr Brian Browne, at the 90th birthday lecture in honour of Professor Adetowun Ogunsheye, the first woman Professor in Nigeria and the first African woman to graduate from the University of Cambridge,in Ibadan, Oyo State.
The lecture titled ‘What will save us from the injustice of mainstream economics’ Mr Browne revealed that only a conscious effort by these nations can change the wrongs that have “relegated humanity to poverty and despair”.
Explaining the nature of the financial and economic crises that has bedeviled some nations of the world, Browne said that the poor nations were being held down by the system.
“Ten of the world’s richest people have more wealth than the 3.6 billion people that constitute the poorest half of humanity.
“The world produces more food now, than at any point in history, yet one in every ten people struggle to live above hunger and poverty.
Meanwhile, tons of edible food are discarded on a daily basis.
“Affluent people have amassed so much wealth that they can afford to visit outer space in their own craft.
Yet, billions of people live like their distant ancestors did, using the same rudimentary farm implements to till barren soil.
The cell phones that have infiltrated these areas have fooled people into believing they are of the modern world,unaware of the fact that they have been left far behind,” he said.
According to the Chairman of the occasion, Tokunbo Ajasin, the organisation, ‘Atayese’ recognises the contributions of Ogunsheye and thought it wise to celebrate her on the attainment of such a significant age, urging the Yoruba race to come to terms with the objectives of the organization.
“Our main objective within Yoruba land is to advocate the establishment of good governance, uphold ‘Omoluabi’ in Yoruba land, while re-enacting and improving on the modernisation scheme started by our revered forebears.
“Ever since Nigeria attained independence in 1960, the Yoruba nation, and indeed Nigeria has practically gone to sleep.
“Before independence, we had a common goal in getting rid of the colonialists, but unfortunately, having gotten rid of the foreign oppressors, our leaders relapsed and became worse oppressors themselves, particularly with the advent of the military in governance.
“We had thought that with the institution of democracy, the situation would change, but rather than being ameliorated, the situation has gotten worse by the day”.
He bemoaned the state of the Nigerian economy which he said has been “so bastardised, pulverized and looted to the extent that over 80% of Nigerians now live below the poverty line, stating that his Yoruba organization, the Atayese, believes that now is the time to think out of the box.