Igbo Apprenticeship System as the Umunneoma Economics

This will thereby give governments the upper hand to build capacity for expanding social welfare facilities in a bid to support the needy during crisis time as witnessed in the recent incidence of COVID-19, and anything else that may seek to threaten livelihoods (Jackson, 2020a; Jackson, 2020b)

BENEFITS OF ISI FOR AFRICA’S GROWTH AND ECONOMIC PROSPERITY

Given the above discourse regarding ISI as an economic and politically pursued ideologies, there are certainly benefits to be gained, particularly with the prospect of growth and prosperity in the African continent. Despite the outcry of critics of ISI (Williams, 2015; Bahmani-Oskooee and Ratha, 2004), Africa can only be seen to pursue a venture that is suitable to its development aspirations, which eventually will help address its high level of dependence on imports, notably essentials like non-elastic goods, which is unsustainable for its citizens. This in itself is considered regressive and the option of development partners like the World Bank, which have experimented policies like ‘Structural Adjustment Programs (SAP)’, has proven to be inimical to the well-being of citizens as opposed to addressing ongoing economic crises (Segal, 2019).

A cautious approach is hereby recommended, with huge political commitments on the part of political leaders and state administrators in ministries and parastatals to exhibit prudence in their acts of planning or rebranding of ISI. Such operation is normally geared towards capacitating the real sector, considered to be the base for improving the well-being of citizens, through prospects of job creation and improved contributions to revenue base, namely“Pay As You Earn

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(PAYE)” system and corporation taxes.

Notable gains that can be seen from the effort of rebranding ISI for Africa’s new hope to promote economic growth and prosperity is to ensure cohesiveness and equitable society are anchored as the focus of society, with resources utilised judiciously for the good of all, and inclusive of disadvantaged groups like women and the disabled (Jackson and Jackson, 2020; Jackson, 2016). Given the ill experience of past efforts made in utilising ISI strategy, now seen to be benefiting countries like Singapore and some economies in Latin America, there should be a renewed commitment for resources to be utilised judiciously, more so in the hope of championing Africa’s development. It is also hoped that this will be of immense benefit to those in the diaspora, who are also high promoters of Afrocentric philosophy, aimed at educating people about Africa’s richness in resources and cultures.

CONCLUSION AND AFROCENTRIC POLICY PRESCRIPTION

Overall, the focus of a promise towards renewed venture for Africa, as promoted through philosophical thought-provoking concepts like Afrocentricity and ISI, are in themselves very welcoming to support the continent's growth and prosperity ambition. The chapter has unraveled a challenging and not so much discursive concept, which in this case is Afrocentricity, as its use is mostly attributed to building solace for African-Americans based in the United States of America. Such negative conversations seem to have been challenged by many of its supporters, for example, Asante (n/d) and Stikkers (2008) in allaying fears about the need for a promised direction. In that same

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vein, the renewed effort of ISI must be championed similarly, but with collaborative efforts being devoted by people in mainland African and those in the diaspora that are in support of Afrocentric philosophy. There is a high onus on the need to promote a very stable political landscape in a bid to ensure efforts chanted in the name of both Afrocentric and ISI philosophies are translated into something that will bring lasting hope for economic growth and prosperity in the continent. In that vein, the currently modelled Pan-African body of AU, also supported by scattered regional institutions such as Economic Community of West African States (ECOWAS) and others, should be proactive in the review of measures that seek to unify the continent through renewed and stable trade agreement among member countries. As ISI is geared towards building self-sufficiency in areas pertaining to basic needs such as sustained food production and the development of lite-scale industries, countries must be encouraged to take advantage of openness connected with free movement of goods and services. In summary and as a pointer for policy recommendations, the effort of Afrocentric and ISI ventures as championed for the good of Africa and it citizens (both in mainland Africa and the diaspora) should be well planned, with the following considered as a checklist for reviewing progress: (i) Blacks of African descent, whether in mainland Africa or somewhere in the world must endeavour to unify in their thoughts as to how best the continent can see itself through sustained growth.

Critical views are very worthwhile as a way of providing a wellbalanced approach in the direction of addressing pitfalls and benefits, but such should be done with the ulterior motive of forging

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the continent in a new direction of growth prospect. Those in governance, be it as a country leader or in the administration of ministries or parastatals must seek to manifest prudence in their dealings, particularly when placed in a position of trust to (ethically)act in the best interest of development objective for the continent. In that vein, the past dealings of unproductive rentseeking perpetrated through political patronization, which almost wrecked earlier attempts of ISI in the 1960s must be discouraged.

In this regard, accountability must be made a critical part of appraising the progress of those who are in receipt of public funding to ensure their efforts are productively transformed to make a difference, through operations connected with the creation of job opportunities for citizens. In support of the pursued philosophical truism, the determination of governments to build communities through empowerment of enterprises should also be embraced by inculcating corporate social responsibility culture (Jackson and Jackson, 2017), where beneficiaries of public funds are committed to honouring tax dues in the spirit of supporting governments’ nation building objectives. (ii)The effort to capacitate Africa’s self-sufficiency through ISI and the commitments of Afrocentric ideology must be made a timely project; initially set on a minimum of ten-year plan, to ensure tangible gains are realised before transitioning into a fully open economy for foreign investment. This will make it possible for the continent to be seen as a good place for investment through renewed hope of structural transformation that would have been made on account of tilting efforts domestically.

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REFERENCES

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Early, G., Moses, W.J., Wilson, L. and Lefkowitz, M.R. (1994). “Symposium: Historical roots of Afrocentrism”. Academic Questions, 7(2), 44-54. Elson, J. (1996). "Attacking Afrocentrism: A classics scholar sharply challenges the emerging theory that ancient Greece "stole" its best ideas from ancient Egypt", Time Magazine Extract, 19 February 1996. Fredland, R.A. (2001). Understanding Africa: A Political Economy Perspective. Chicago: Burnham Inc. Jabbie, M. and Jackson, E.A. (forthcoming). Empirical Determinants of Total Factor Productivity 9TFP) Growth in Sierra Leone. Jackson, E.A., and Jabbie, M (forthcoming). Import Substitution Industrialization (ISI): An approach to global economic sustainability. In: Leal Filho W., Azul A., Brandli L., Özuyar P., Ozuyar, P.G. (ed.), Industry, Innovation, and Infrastructure: Encyclopedia of Sustainable Development Goal, Springer Nature Publisher. Jackson, E.A. (2020a). Deconstructing Sustainable Livelihood Framework (SLF) for Equitable Living in Crisis of Global Pandemic. In, In Leal Filho W., Azul A., Brandli L., Lange Salvia A., Ozuyar, P.G., Wall, T. (ed.), Reduced Inequalities: Encyclopedia of Sustainable Development Goal, Springer Nature Publisher. Jackson, E.A. (2020b). Emerging innovative thoughts on globalization amidst the contagion of COVID-19. In: Leal Filho W., Azul A., Brandli L., Özuyar P., Ozuyar, P.G. (ed.), Industry, Innovation, and Infrastructure: Encyclopedia of Sustainable Development

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