International Solidarity And Diplomacy Are Urgently Required To Bridge Africa’s Huge Financing Gap – Prof. Olawuyi, SAN

Frontline energy law expert and the Deputy Vice Chancellor, Academic, Research, Innovation and Strategic Partnerships (ARISP) of Afe Babalola University, Ado Ekiti, Professor Damilola S. Olawuyi, SAN has called for urgent international solidarity and support to bridge the currently huge financing gaps that hinder Nigeria and other African countries from accelerating progress on all aspects of the United Nations Sustainable Development Goals (SDGs).

 

 

At the 2nd Annual Young Lawyers’ Forum organized by the Nigerian Bar Association (NBA) Ikere Branch, the Senior Advocate of Nigeria, who is also Vice Chair of the United Nations Working Group on Business and Human Rights, made these remarks as the event was in honour of him.

 

 

 

Themed “Nation Building and International Financing- A Legal Perspective” the event is held annually to recognize Olawuyi’s trailblazing achievements as the youngest academic Senior Advocate of Nigeria, and his enormous contributions to youth empowerment, mentoring and legal education in Nigeria and beyond.

 

 

 

Moderated by a mix of current and past leaders of NBA, the event featured insightful presentations from senior lawyers, including the Chairman of the occasion and Honorable Attorney General and Commissioner for Justice of Ekiti State, Dayo Apata, SAN, distinguished keynote speaker, Dr. Gabriel Adeoluwa Onagoruwa who chairs the Project Development and Finance Practice of Olaniwun Ajayi (UK) LLP in London, the Chief Judge of Ekiti State, Hon. Justice Oyewole Adeyeye, the President of the Customary Court of Appeal, Ekiti State, Hon. Justice Monisola Abodunde, the Chairman of the NBA Ikere Branch, Asiwaju (Dr.) Michael Sunday Afolayan, and other panel discussants.In his keynote lecture, Dr. Onagoruwa emphasized the need for international and domestic financings obtained by all levels of government to be geared towards nation building.

 

 

 

He noted that achieving the UNSDGs will require a cocktail combination of innovative financing approaches including international financing, public private partnerships, social impact bonds, green bonds and microfinance, all of which can unlock sustainable prosperity and the achievement of all of the SDGs in Nigeria.

 

 

 

In his remarks, the honoree Professor Olawuyi, SAN noted that: “One of the key challenges to accelerating progress in all of the SDGs is the issue of financing.

 

 

 

At a minimum, an additional US$2 trillion to $3 trillion a year is required in developing countries, including Nigeria, to bridge current SDG financing gaps, while addressing power infrastructure deficits will require up to $950 billion. Mobilizing adequate international and domestic finance should therefore be the urgent focal point of our international diplomacy, especially in the incoming administration. In international law, you don’t always get what you deserve, you get what you negotiate. We therefore need strong and competent representation at the global stage to ensure we are getting the best deal needed to fight climate change, eradicate poverty, and to provide our societies and people the required modern energy sources and infrastructure to lead a decent life.”

 

 

 

While commending the keynote speaker as a highly experienced transactional lawyer who has dedicated his career to innovative international financing, Olawuyi highlighted the need for young lawyers to also leverage their legal training and skills to be able to provide tailored counsel on the wide range of innovative financing mechanisms that are required to build a modern and sustainable Nigeria.

 

 

 

He also encouraged all NBA branches to provide training and capacity development on alternative funding sources such as crowdfunding, syndicated and mezzanine debt structures, institutional private equity and pubic-private partnerships amongst others that could accelerate rapid economic development, poverty eradication, and sustainable green growth amongst others. CONTINUE READING………………………………..

 

 

 

THIS IS FOR YOU🤳🏾👨🏼‍💻

For your Surprise birthday wishes, Business Advert Placement, Publicity Online and offline, Press Release, Social Media Management, For Your Content Writer Plug, Personality Promotion, Special Report, Featured Story, Conference, And Interviews – CONTACT US @VAM on WhatsApp/Call📞@ 08072633727 📲