News
UN Report: 2024 Could Errand Protracted Period of Low Growth
UN Report: 2024 Could Errand Protracted Period of Low Growth
By: Michael Mike
A United Nations flagship economic report has raised an alarm that protracted period of low growth looms large, and could undermine progress on sustainable development.
According to the report released on Friday, weakening global trade, high borrowing costs, elevated public debt, persistently low investment, and mounting geopolitical tensions put global growth at risk.
The global economic growth is projected to slow from an estimated 2.7 per cent in 2023 to 2.4 per cent in 2024, trending below the pre-pandemic growth rate of 3.0 per cent, according to the United Nations World Economic Situation and Prospects (WESP) 2024, launched on Friday.
This latest forecast comes on the heels of global economic performance exceeding expectations in 2023. However, last year’s stronger-than-expected GDP growth masked short-term risks and structural vulnerabilities, according to the report.
The UN’s flagship economic report presents a sombre economic outlook for the near term. Persistently high interest rates, further escalation of conflicts, sluggish international trade, and increasing climate disasters, pose significant challenges to global growth.
The report stated that the prospects of a prolonged period of tighter credit conditions and higher borrowing costs present strong headwinds for a world economy saddled with debt, while in need of more investments to resuscitate growth, fight climate change and accelerate progress towards the Sustainable Development Goals (SDGs).
Reacting to the report, the United Nations Secretary- General, António Guterres, said: “2024 must be the year when we break out of this quagmire. By unlocking big, bold investments we can drive sustainable development and climate action, and put the global economy on a stronger growth path for all,” adding that:
“We must build on the progress made in the past year towards an SDG Stimulus of at least $500 billion per year in affordable long-term financing for investments in sustainable development and climate action.”
The report stated that growth in several large, developed economies, especially the United States, is projected to decelerate in 2024 given high interest rates, slowing consumer spending and weaker labour markets. The short-term growth prospects for many developing countries – particularly in East Asia, Western Asia and Latin America and the Caribbean – are also deteriorating because of tighter financial conditions, shrinking fiscal space and sluggish external demand.
Low-income and vulnerable economies are facing increasing balance-of-payments pressures and debt sustainability risks. Economic prospects for small island developing States, in particular, will be constrained by heavy debt burdens, high interest rates and increasing climate-related vulnerabilities, which threaten to undermine, and in some cases, even reverse gains made on the SDGs, according to the report.
The report further showed that global inflation is projected to decline further, from an estimated 5.7 per cent in 2023 to 3.9 per cent in 2024. Price pressures are, however, still elevated in many countries and any further escalation of geopolitical conflicts risks renewed increases in inflation.
In about a quarter of all developing countries, annual inflation is projected to exceed 10 per cent in 2024, the report highlighted, showing that since January 2021, consumer prices in developing economies have increased by a cumulative 21.1 per cent, significantly eroding the economic gains made following the COVID-19 recovery. Amid supply-side disruptions, conflicts and extreme weather events, local food price inflation remained high in many developing economies, disproportionately affecting the poorest households.
“Persistently high inflation has further set back progress in poverty eradication, with especially severe impacts in the least developed countries,” said United Nations Under- Secretary-General for Economic and Social Affairs, Li Junhua,.
He said: “It is absolutely imperative that we strengthen global cooperation and the multilateral trading system, reform development finance, address debt challenges and scale up climate financing to help vulnerable countries accelerate towards a path of sustainable and inclusive growth.”
According to the report, the global labour markets have seen an uneven recovery from the pandemic crisis. In developed economies, labour markets have remained resilient despite a slowdown in growth. However, in many developing countries, particularly in Western Asia and Africa, key employment indicators, including unemployment rates, are yet to return to pre- pandemic levels. The global gender employment gap remains high, and gender pay gaps not only persist but have even widened in some occupations.
Stronger international cooperation needed to stimulate growth and promote green transition.
It advised that Governments will need to avoid self-defeating fiscal consolidations and expand fiscal support to stimulate growth at a time when global monetary conditions will remain tight, adding that Central banks around the world continue to face difficult trade-offs in striking a balance between inflation, growth and financial stability objectives. Developing country central banks, in particular, will need to deploy a broad range of macroeconomic and macroprudential policy tools to minimize the adverse spillover effects of monetary tightening in developed economies.
Furthermore, the report emphasized that robust and effective global cooperation initiatives are urgently needed to avoid debt crises and provide adequate financing to developing countries. Low-income countries and middle-income countries with vulnerable fiscal situations need debt relief and debt restructuring to avoid a protracted cycle of weak investment, slow growth and high debt-servicing burdens.
It added that in addition, global climate finance must be massively scaled up. Reducing – and eventually eliminating – fossil fuel subsidies, following through on international financing commitments, such as the $100 billion pledge to support developing countries, and promoting technology transfer are critical for strengthening climate action worldwide. It also underscores the ever- increasing role of industrial policies to bolster innovation and productive capacity, build resilience and accelerate a green transition.
UN Report: 2024 Could Errand Protracted Period of Low Growth
News
Sahel on edge as sabotage campaigns spread across Niger and Mali, threatening regional stability and economic survival
Sahel on edge as sabotage campaigns spread across Niger and Mali, threatening regional stability and economic survival
By: Zagazola Makama
A sharp escalation in economic sabotage by armed groups in Niger Republic and Mali is deepening instability across the Central Sahel, with fresh attacks on oil and fuel infrastructure pointing to an increasingly insecure landscape for governments, civilians and foreign partners in the region.
The latest incident occurred on Sunday night in Niger Republic’s eastern Diffa Region, where an oil pipeline explosion at Agadem was attributed to the Mouvement Patriotique pour la Libération du Jihad (MPLJ), a newly emergent armed faction led by Moussa Kounai. The group released a video claiming responsibility for damaging a section of the pipeline and vowed further attacks unless the ruling Conseil National pour la Sauvegarde de la Patrie (CNSP) steps down and reinstates constitutional governance.
The MPLJ also accused the junta of supporting foreign rebel groups, specifically naming the Chadian Front pour l’Alternance et la Concorde (FACT), which it alleges operates with the approval and logistical backing of Niger’s transitional military authorities.
Security sources say the attack marks a worrying expansion of anti-state sabotage in Niger, where armed groups such as the Lakurawa network have previously targeted oil infrastructure. These incidents now coincide with sustained assaults by jihadist formations like JNIM and Islamic State Sahel Province, creating an increasingly complex and volatile security environment.
Zagazola warn that the proliferation of armed groups following the 2023 coup has eroded state control, with economic assets such as pipelines, storage facilities and export routes becoming strategic targets for factions seeking bargaining power or political influence. The Agadem basin a cornerstone of Niger’s crude output and a critical link in its export chain to international markets is especially vulnerable.
Meanwhile in neighbouring Mali, the situation has taken on an even more disruptive dimension as the Al-Qaeda-affiliated JNIM intensifies a sweeping fuel blockade that has crippled the country’s economy and strained daily life for millions.
Since September, JNIM fighters have systematically attacked fuel tankers travelling from Senegal and Côte d’Ivoire, routes that account for the majority of Mali’s fuel imports. Tankers have been burned, drivers and security escorts killed, and entire convoys halted by improvised explosive devices and ambushes.
The insurgents are believed to be retaliating against a government directive restricting fuel sales in rural areas, a measure aimed at cutting off jihadist access to diesel and petrol used for mobility, logistics and explosives manufacturing.
The impact has been devastating. Fuel scarcity has worsened Mali’s longstanding electricity crisis, plunging Bamako and several regional capitals into long blackouts. With power plants relying heavily on diesel, factories have shut down, cold-chain food systems are collapsing, and telecommunications have become unreliable.
Government offices, banks and airports are also struggling to maintain normal operations. On Sunday, authorities suspended classes in all schools and universities for two weeks due to the acute shortage.
In rural communities, the blockade coincides with harvest season. Farmers say tractors and irrigation pumps have become idle, threatening crop yields and heightening food insecurity in a country already burdened by displacement and declining agricultural output.
Despite several rounds of negotiations involving community leaders and intermediaries, no agreement has been reached with JNIM. The group appears intent on leveraging the economic pressure to force political concessions from the military-led government.
Security experts say the rising wave of economic sabotage across Niger and Mali reflects a broader trend in the Sahel, where armed groups are increasingly shifting from territorial warfare to strategic economic disruption. By targeting energy supply lines pipelines in Niger and tanker routes in Mali these groups are undermining state capacity, weakening public confidence, and heightening the cost of governance for already fragile juntas.
The dual crises also signaled troubles for neighbouring countries, particularly Nigeria, which shares extensive energy, trade and security ties with Niger. These misattributed attacks or cross-border accusations could trigger diplomatic strains at a time when regional cooperation is crucial.
With militants in both countries signalling readiness for escalated operations, the Sahel is bracing for deeper instability unless coordinated regional and international responses are mobilised to protect critical infrastructure, restore supply chains and contain armed group expansion.
Zagazola Makama is a counter Insurgency Expert and Security Analyst in the Lake Chad region.
Sahel on edge as sabotage campaigns spread across Niger and Mali, threatening regional stability and economic survival
Crime
killings of 259 cattle spark rising tension as attack on herders escalate across Gwer West, Guma in Benue
killings of 259 cattle spark rising tension as attack on herders escalate across Gwer West, Guma in Benue
By: Zagazola Makama
Fresh tension is building in Benue State following coordinated attacks on Fulani herders and the killing of hundreds of cattle in Gwer West and Guma Local Government Areas, in incidents that could trigger another cycle of violence if not urgently addressed.
According to field reports made available to Zagazola Makama, heavily armed men, alleged by herder associations to be members of local security outfits, supported by local security outfits, launched multiple assaults on pastoral communities since Nov. 12, killing an estimated 259 cattle in two separate attacks.
The first incident occurred near Naka in Gwer West LGA, where the government backed security outfits operating on motorcycles and vehicles reportedly targeted herders grazing peacefully in the area. The cattle owners Abdullahi Musa said 50 of his cattle were killed, Wakili Musa another harder said 51 of his livestock were killed while Maibargo Abubakar lost 21 of his cattle in the ambush without any provocation.
Multiple Witnesses said the attackers transported the carcasses of the killed animals into Naka town in broad daylight, where they were seen celebrating. Some of the community members described the attack as “deliberate provocation aimed at escalating ethnic tensions.”
A second attack was recorded the same day behind Okohol village near Ikpam in Guma LGA, where another group of armed men reportedly killed 137 cattle belonging to Alhaji Anaruwa Yongo and his brother. Several carcasses were reportedly removed from the scene while others remained littered across the grazing area.
Sources told Zagazola Makama that military personnel deployed in the affected corridors visited some of the locations after the incidents and confirmed the attacks. Security operatives, however, have not issued an official statement on the attacks while government of Benue remained mum.
Leaders of pastoralist communities described the Benue incidents as part of a “recurring, underreported pattern” of attacks on Fulani herders in several states, including Enugu, Niger and Kebbi. They accuse some local authorities of quietly supporting armed groups that target pastoralists, while only issuing statements when reprisals occur.
Community representatives further allege that despite repeated reports and identification of perpetrators in past incidents, the Benue State Government has not taken concrete steps to halt the killings, creating what they describe as “a climate of impunity that encourages attacks.”
They warn that the continued silence from state actors, coupled with worsening hostilities, risks sparking a renewed wave of communal violence.
They appealed for urgent intervention from federal security agencies, including Defense Headquarters and the Office of the National Security Adviser, to prevent further escalation.
They also called for an impartial investigation into the killings, protection for vulnerable herders, and proactive engagement with community leaders to avert retaliatory attacks.
They described the situation as “a ticking time bomb” and urged the Federal Government to address what they see as a widening security gap that could destabilize the region if left unchecked.
killings of 259 cattle spark rising tension as attack on herders escalate across Gwer West, Guma in Benue
News
Controversial Air Peace Runway Incursion Report: NEFGAD Calls for the Sack of NSIB DG
Controversial Air Peace Runway Incursion Report: NEFGAD Calls for the Sack of NSIB DG
By: Michael Mike
Network for the Actualization of Social Growth and Viable Development (NEFGAD), a civic organisation, has asked President Bola Tinubu to sack with immediate effect the Director General of the Nigerian Safety and Investigation Bureau (NSIB), Mr Alex Badeh Jr. over the recent controversy surrounding the toxicology report.
NEFGAD, during a press conference on Tuesday in Abuja, said the recent controversy surrounding the toxicology report released by the Nigerian Safety and Investigation Bureau (NSIB), and the subsequent strong denial issued by Air Peace, has further deepened concerns about the credibility, professionalism, and operational integrity of the Bureau under its current leadership and the need to call on President Bola Tinubu to sack with immediate effect, the Director General of the NSIB Mr Alex Badeh Jr, to pave the way for thorough investigation in a bid to restore public confidence in the air safety agency.
NEFGAD made the call through its acting head of office Barrister Unekwu Blessing Ojo, who during the press conference emphasized NEFGAD’s position as a critical stakeholder in the aviation sector committed to transparency, accountability, and public safety within Nigeria’s aviation sector expressing profound disappointment in the manner the highly sensitive investigation into the July 2024 runway incursion incident by an Air Peace aircraft was being handled by the NSIB.
She maintained that NSIB is an aviation watchdog whose investigation requires utmost precision, neutrality, and scientific rigour, stressing that any lapse, real or perceived – undermines public trust and jeopardises the confidence of both domestic and international partners in Nigeria’s air safety oversight.
She stated that the conflicting narratives and the lack of clarity from a report issued by the NSIB itself months after the incidents and series of counter claims from Air Peace is troubling and entirely allien to the Nigerian aviation sector, particularly to the operations of the Bureau since inception until Mr Badeh Jr became the Bureau’s Director General, and this has raised legitimate doubts about the Bureau’s internal processes, its adherence to global best practices, and its ability to professionally discharge its statutory mandate.
She noted that at this critical moment, Nigeria an aspiring nation working hard to ensure the air safety of its citizens and attract investment confidence globally cannot afford an aviation investigative body whose operation and leadership inspires controversy rather than confidence.
She said: “In view of the foregoing, the group call for the immediate resignation of the Director-General of the NSIB. This action is essential to restore public trust, protect the integrity of ongoing and future investigations, and pave the way for a transparent review of the Bureau’s operational standards.
“NEFGAD further urge the President to initiate an independent assessment of the NSIB – its leadership structure, investigative protocols, and quality control mechanisms using the Airpeace runway incursion as a test case and ensure that the agency is repositioned for credible, world-class performance.”
NEFGAD vowed mass and possible legal action should Mr Badeh fails to accede to its request to resign, insisting that Nigeria’s aviation safety institutions must operate above reproach and its leadership accountability non-negotiable.
Controversial Air Peace Runway Incursion Report: NEFGAD Calls for the Sack of NSIB DG
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
News7 months agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
