The rising consciousness among Nigerians for rapid economic development has put many state governments in the country on their toes. As a result, some state governments that seriously want to make economic impact are leaving no stone unturned.

The outcomes of the recent elections in France and Greece have heightened uncertainty about Europe’s prospects for recovery as markets perceive that the change in governments in those countries signal a resistance to austerity measures, which is widely seen as crucial to dealing with the global crisis. This development has so far weakened oil prices. 

Jim Yong Kim’s appointment as World Bank president may have been predictable, given the long-standing tradition that renders the selection an American prerogative. But even the appearance of competition between Kim and the other candidates, Ngozi Okonjo-Iweala and José Antonio Ocampo, served to expose a deep fissure within the field of development policy, because Kim and his two rivals represented dramatically different approaches. The vision for which Kim stands is bottom-up. It focuses directly on the poor, and on delivering services – for example, education, health care, and microcredit – to their communities. This tradition’s motto could be, “Development is accomplished one project at a time.”

Now in its 22nd year, the World Economic Forum (WEF) on Africa has become a major focal gathering for discussion of Africa’s economic, social and political dynamics and progress. The rising profile of WEF Africa has coincided with the recent wave of economic growth in the continent. This fact was best accentuated by the cover stories of two prominent economic magazines. The Economist, arguably one of the most influential weekly magazines, and African Business both dedicated their cover stories to the forum held in Addis Ababa last week.