Explain Lagos Plan of Action (LPA).

The Lagos Plan of Action (LPA) was a landmark economic development strategy adopted by the Organization of African Unity (OAU), now known as the African Union (AU), in 1980. It was formulated in response to the economic challenges facing African countries in the aftermath of the global economic downturn of the 1970s and the oil crisis.

1. Objectives:

   • The primary objective of the Lagos Plan of Action was to promote economic development, self-reliance, and regional integration across Africa.
   • It sought to address key development priorities, including industrialization, agricultural transformation, infrastructure development, and human resource development.

2. Policy Framework:

   • The LPA advocated for a mix of policies and strategies aimed at fostering sustainable development and reducing dependence on external sources of financing and technology.
   • It emphasized the need for African countries to adopt import substitution industrialization, export diversification, and value-added processing to enhance economic competitiveness and reduce vulnerability to external shocks.

3. Regional Integration:

   • Regional integration was a central pillar of the Lagos Plan of Action, with a focus on strengthening intra-African trade, economic cooperation, and integration.
   • The LPA called for the establishment of regional economic communities, such as the Economic Community of West African States (ECOWAS) and the Southern African Development Community (SADC), to promote trade, investment, and infrastructure development.

4. Mobilization of Resources:

   • The LPA emphasized the importance of mobilizing domestic and external resources to finance development projects and programs.
   • It called for increased public investment in infrastructure, education, and healthcare, as well as enhanced cooperation with international financial institutions and development partners to secure concessional financing and technical assistance.

5. Implementation and Follow-up:

   • Implementation of the Lagos Plan of Action was facilitated through the establishment of the African Development Fund (ADF) and the African Development Bank (AfDB), which provided financial and technical support to African countries.
   • Regular monitoring, evaluation, and follow-up mechanisms were put in place to assess progress, identify challenges, and adjust policies and strategies as needed.

While the Lagos Plan of Action represented a significant step towards promoting economic development and integration in Africa, its full implementation faced challenges, including limited financial resources, political instability, and external debt burdens. However, the LPA laid the groundwork for subsequent development initiatives and regional integration efforts in Africa.