MEDIA RELEASE PR41633
Nigerian Think Tank Says World Bank Strategy on Palm Oil Is Irresponsible, Denies Africans Job
Opportunities
LAGOS, Nigeria, Oct. 7 /PRNewswire-AsiaNet/ --
Letter to World Bank President Zoellick Requests a Halt to Palm Oil Investment
Freeze
In advance of the World Bank and IMF Fall Meetings, the Initiative for Public Policy Analysis (IPPA) wrote today
farmers and workers in the palm oil sector, calling the Bank's efforts to draw up a new framework on the crop a
shortsighted condemnation of developing countries from those in the developed world.
job creation and food production, two initiatives that align with the ideals of the World Bank. In Nigeria alone, 1.8
million jobs are provided by palm oil producers and smallholder farmers. IPPA's latest study
percent ending up in food products.
The letter was signed by leading Africans, including:
-- George Ayittey, Global Cheetah Palm Oil Company (Ghana)
-- Thompson Ayodele, Initiative for Public Policy Analysis (Nigeria)
-- Eustace Davie, Free Market Foundation for Southern Africa (South
Africa)
-- Paul Adepelumi, African Center for Advocacy and Human Development
(Nigeria)
-- Richard Tren, Africa Fighting Malaria (South Africa)
-- Franklin Cudjoe, IMANI Center for Policy and Education (Ghana)
-- Rejoice Ngwenya, Coalition for Market and Liberal Solutions (Zimbabwe)
-- Olusegun Sotola, Initiative for Public Policy Analysis (Nigeria)
The letter says, "We believe the surest way to cut poverty and protect our natural environment is by raising living
standards and creating economic prosperity in poor countries. By cutting off much needed funding for palm oil
producers, the World Bank threatens to generate poverty and economic dependency, instead of reducing it, a
strategy which goes against the very ideals of the institution."
The Initiative for Public Policy Analysis (IPPA), the 2005 award-winning organization, is Nigeria's public policy
research institute or think tank. Its major concern is with the principles and institutions that enhance economic
development and wealth creation, with particular focus on Africa and Nigeria.
IPPA News Coverage:
Business Day Op-Ed by Thompson Ayodele and Richard Tren, Bank's Palm Oil Cop-Out Thwarts Its Goals,
The Guardian, Nigeria's Palm Oil Industry Has Lots of Potential for Economic Growth, Says Expert, September
palm-oil-industry-has-lots-of-potential-for-economic-growth-says-expert&catid=31:business&Itemid=562
)
The Nation, IPPA Highlights Benefits of Palm Oil, August 26, 2010
The Hindu Business Line, Palm Oil Can Alleviate Poverty, Foster Growth: Report, August 23, 2010
IPPA Press Releases:
Nigerian Think-Tank Lauds Liberia Palm Oil Investment, Will Create New Jobs and Economic Growth,
IPPA Report Frames African Case for Palm Oil, Urges Renewed World Bank Focus on Poverty Reduction,
Initiative for Public Policy Analysis
Address: 9A, Adekunle Odunlami Street, Off Aina George, Ilupeju, Lagos, Nigeria
SOURCE: Initiative for Public Policy Analysis (Nigeria)
CONTACT: Thompson Ayodele (the author of the report), Initiative for Public Policy Analysis (Nigeria), +234-1-
791-0959, +234-80-2302-5079, thompson@ippanigeria.org
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