Professor Ade Adefuye, Adviser to Economic Community of West African States (ECOWAS) on politics and governance on Sunday said bad governance, blatant corruption, nepotism and disregard for the principles of democracy are responsible for the present economic woes on the African continent.
"Africa has abundant human and material resources which can be used judiciously to promote development but socio- economic development on the continent has been hindered by poor quality of leadership at national levels".
Prof. Adefuye was speaking at the International Summit on African Leadership and African Leadership Awards 2008 which was organized by Africa leadership magazine to honour individuals and organizations who have inspired and improved the lives of people on the continent.
It was on the theme: "Enthroning an accountable leadership legacy in Africa."
Professor Adefuye said an accountable leadership in Africa should ensure the judicious utilization of the country's resources for the benefit of the people.
He said Africa has 90 percent of the World's platinum, 50 percent of gold, 98 percent of chromium and 40 percent of Hydro-electric power.
"A democratized state should evolve a sound and accountable system for drawing up budget, implementing them and monitoring the impact in order to promote development. This is because at the heart of good governance and accountability lies a well organized process of government revenue and expenditure," he said.
Prof. Adefuye said political instability has hindered the economic progress of many countries on the continent that are now relying on Overseas Development Assistance (ODA) for the operation of their budgets.
"In the last two decades, the continent has been affected so much by violent conflicts and wars and Africa has been described as a continent at war with itself. With the continent absorbing 75 percent of conflicts and HIV/AIDS pandemic cutting 50 percent of life expectancy, it is unrealistic to expect the continent to achieve Millennium Development Goals by the deadline of 2015," he said.
Professor Adefuye said an independent judiciary, transparent Public Accounts Committee, freedom of information and an independent human rights commission are some of the factors that could promote good governance and accountability in Africa.
"Present crop of leaders in Africa think about entrenching themselves in office and seeking re-election while forgetting about the interest of the suffering masses. Many of the leaders connive with election officials and deny the people their right to competent leadership," he said.
Mr. Abraham Osei Aidoo, Majority Leader and Minister for Parliamentary Affairs said Africa must prove to the Western world that it is capable of promoting rule of law, accountability and democracy.
Mr. Ken Giami, Managing Editor of Africa leadership magazine appealed to individuals and organizations to support the Africa Leadership Legacy Network project which is aimed at supporting efforts to promote growth and prosperity on the continent.
The award winners were Dr. Ala Atubokiki Banibo, Group Managing Director and Chief Executive of GEO Fluids Consult, African Business Impact, Mr. Samuel Kwaku Balado Manu, Member of Parliament for Ahafo Ano South, Mr. Abraham Osei Aidoo, Mr. Dugdale Badom, Chairman of African leadership Advisory Council, Mr. Abubakar Sodangi, African Leaders of Distinction, Mr.Femi Otedola, African Chief Executive Officer of the year, International Energy Insurance Company, African Insurance Company of the year, Speaker of Parliament Mr. Ebenezer Begyina Sekyi Hughes, African leader of the year, Mr. Emeka Offor, Business leader of the year, Alhaji Mahmud Aliyu Shirkati, Executive Governor of Zamfara state in Nigeria, leader of excellence, Nigeria Television Authority , African Television of the year, GEO, Fluids Consult, African Maritime leader, Richud International, Grassroots Impact Award.
Special awards were presented to Hajia Alima Mahama, Minister of Women and Children's Affairs and other philanthropists in Africa.