Speaker of the Nigerian House of Representatives Dimeji Bankole has said African nations needed
improved trade and long term investment and not aid from developed nations.
Bankole said this on Thursday while delivering a speech at opening of a two day International
Parliamentary conference with the theme "Russia-Africa, Horizon of Cooperation" in Moscow.
Nigeria and indeed other African nations never believed that aid would solve their development
problems in the long run, a statement from his office reaching here quoted the speaker as saying.
Bankole said in spite of increase in aids from development agencies to African countries in the last 25 years, Africa have been unable to address problems confronting the critical sectors of the economy.
"We never believe that aid will solve our socio-economic problems. What we need most now is
cooperation, partnerships, trade and long-term investment in key areas that can generate wealth and
create employment," the statement said.
Bankole urged Russia not to follow the path of other developed nations by giving aid assistance to
African nations which ended up taking away African wealth while leaving Africa poorer.
He stressed that President Goodluck Jonathan is embarking on various economic and political reforms
geared towards good governance, anti corruption and promotion of the welfare of the people.
The speaker allayed the fears of genuine investors and development partners for the safety of their
investment as legislation would be in place to protect their interests.