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UN Report: 2024 Could Errand Protracted Period of Low Growth

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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

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NHRC Confronts Past Challenges, Pushes Digital Overhaul to Fix Broken Complaint System

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NHRC Confronts Past Challenges, Pushes Digital Overhaul to Fix Broken Complaint System

By: Michael Mike

The National Human Rights Commission (NHRC) has acknowledged deep-rooted weaknesses in its complaint handling system and is now pushing an ambitious overhaul anchored on digital transformation and institutional reform.

At a high-level stakeholder validation meeting in Abuja, the Commission signaled a decisive shift from outdated, ineffective procedures toward a modern, technology-driven framework designed to restore public confidence and improve access to justice.

Executive Secretary of the Commission, Tony Ojukwu, described the ongoing review of the Complaint Handling Manual as more than a routine update, but a critical reset.

“We are gathered here to review, refine and ultimately validate the Complaint Handling Manual,” he said, stressing that the process must deliver real remedies for victims, particularly the most vulnerable.

But it was the candid admission from former NHRC Director of Civil and Political Rights, AbdulRahman Yakubu that underscored the urgency of reform.

“That manual was not used because of so many deficiencies and was abandoned,” Yakubu revealed, exposing a troubling gap between policy design and implementation that has long hindered the Commission’s effectiveness.

The NHRC, which has expanded from just eight staff to over 1,000 personnel and 38 offices nationwide, now faces mounting pressure to match its institutional growth with functional efficiency.

Yakubu noted that while the Commission’s structure has evolved—with four specialized departments now handling complaints—the absence of a practical, enforceable framework has limited impact.

Central to the reform push is the digitization of the entire complaints process, a move stakeholders say could significantly reduce delays, improve transparency, and strengthen accountability.

“We need automation and digitization of the complaints management process from beginning to end,” Yakubu said, describing the complaints registry as “the engine room” of operations.

The proposed system will also introduce standardized investigation templates and documentation tools, including a certificate of service, aimed at closing loopholes that have previously weakened case tracking and enforcement.

NHRC official Anthonia Nwabueze said the validation exercise is part of a broader effort to rebuild credibility through inclusiveness and expert input.

“The Commission cannot work alone; we decided to bring stakeholders together to join us in this critique,” she said, adding that the process is designed to identify gaps, eliminate inconsistencies, and produce a manual that is both practical and enforceable.

Beyond technical reforms, the Commission is also seeking to reorient its approach toward victims.

Ojukwu challenged participants to adopt a rights-based, people-centered lens. “Look at it through the lens of the most marginalised and vulnerable victims—ask the hard questions,” he urged.

The ongoing validation signals a rare moment of institutional self-reflection for the NHRC—one that acknowledges past shortcomings while attempting to build a more responsive, transparent, and technology-driven system.

If successfully implemented, the reforms could mark a turning point in how human rights complaints are handled in Nigeria, shifting the Commission from a largely reactive body to a more efficient and accountable protector of citizens’ rights.

NHRC Confronts Past Challenges, Pushes Digital Overhaul to Fix Broken Complaint System

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NIGCOMSAT Targets Industrial Leap with Startup Push, Skills Drive

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NIGCOMSAT Targets Industrial Leap with Startup Push, Skills Drive

By: Michael Mike

Nigeria’s state-owned satellite operator, Nigerian Communications Satellite Limited (NIGCOMSAT), is repositioning itself at the heart of the country’s industrialisation agenda, backing over 5,000 startups and expanding digital skills training as part of a broader push to turn connectivity into economic power.

The Managing Director/CEO, Jane Egerton-Idehen, disclosed the scale of intervention at the SOYUZNIK Alumni National Congress in Abuja, where she framed satellite infrastructure not just as a communications tool, but as a catalyst for production, innovation, and national competitiveness.

In a keynote delivered on her behalf by Acting Director of Technical Services, Engr. Ikechukwu Amalu, Egerton-Idehen said the agency’s Space Accelerator Programme—now in its third cohort—has quietly evolved into a pipeline for nurturing technology-driven enterprises, particularly in underserved segments of Nigeria’s digital economy.

The intervention comes amid growing concern that Nigeria’s innovation ecosystem, though vibrant, remains weakly linked to industrial output. NIGCOMSAT’s approach seeks to close that gap—pairing startup support with hands-on technical training and expanding connectivity to areas historically left out of the digital economy.

Across states including Adamawa, Jigawa, Cross River, and Enugu, the agency’s VSAT training programmes are equipping young Nigerians with practical, market-ready skills, targeting employability and enterprise creation rather than theoretical knowledge.

Egerton-Idehen argued that such interventions are critical if Nigeria is to transition from a consumption-driven economy to a production-led one.

“Connectivity is no longer a luxury—it is the foundation of modern economic systems,” she said, stressing that countries that fail to build strong digital infrastructure risk being locked out of the next phase of global industrial competition.

She pointed to ongoing projects such as the 774 Connectivity Initiative, which has so far extended digital access to dozens of local government secretariats, as part of efforts to deepen governance, improve service delivery, and stimulate economic activity at the grassroots.

Beyond infrastructure, she called for a structural reset in Nigeria’s education system, urging stronger alignment with emerging technologies including artificial intelligence, data science, and satellite communications.

According to her, the real challenge is not a lack of talent, but the absence of systems that convert knowledge into measurable economic output.

She also warned that innovation ecosystems cannot thrive without deliberate collaboration between academia, industry, and government, backed by sustained investment in research and clear regulatory frameworks that protect intellectual property.

The SOYUZNIK Alumni—comprising graduates of Russian and former Soviet Union institutions—were urged to leverage their international exposure to drive technology transfer and localisation of innovation within Nigeria.

In his welcome remarks, Abuja chapter chairman, Agu Collins Agu, described the congress as a convergence of technical expertise with the potential to influence national development outcomes.

As Nigeria grapples with sluggish industrial growth and rising youth unemployment, NIGCOMSAT’s expanding role signals a strategic shift—one that places digital infrastructure, innovation, and skills development at the centre of the country’s economic transformation agenda.

NIGCOMSAT Targets Industrial Leap with Startup Push, Skills Drive

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Tribute to the late flight Sergeant Temitope Beckley

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Tribute to the late flight Sergeant Temitope Beckley

By: Bodunrin Kayode

Dear Tope, I am still in shock that you had to leave so early at just 50. Seven years before your father our dear uncle Alaba left at 57. And my own father your uncle too same 57, all of the Akinlawon stock of the Beckleys in Lagos.

Sad you had to leave us so early. I am sad because of the bond we shared as special cousins or what people of your generation call besties. You were a jolly good fellow to me in particular whenever our paths crossed. Aburo (little brother), as I used to call you, family may share the same names sometimes and blood but very few are real friends within a particular family. If there are friends within our family, you are definitely one of them. A very jovial fellow who looks out for the others. A friend indeed among brothers and cousins. Your eyes always glittered when you were around me. And of recent you became more concerned about me when you heard that I was in the North East Nigerian war theatre of operation Hadin Kai. I assured you that because He lives i will always face tomorrow.

How we built our friendship

I remember my brief stay with you guys at the family house in folarin street, Mushin. Trying to rediscover myself as Uncle Alaba would call it anytime he asked me to escort him to EMPLAN consult were he was working then. Each time we returned, you were always close by asking the right questions the little ones always asked their older brothers. I enjoyed your restlessness at that young tender age, wanting to know a lot of things out there especially when we watched TV together and you did not understand what was going on. With the kinds of questions your probing mind used to ask, I always knew that you were going to become one of the shining lights of the family. I even dreamt of you joining me in serving God and country as a media practitioner one day. But you had other plans and ended up at the Nigerian Air Force as you did till your last breath due to a protracted illness.

When I later started my studies to train as a journalist and found myself staying at Akobi crescent with Uncle Akobi, you never forget to stop by and check on me. You kept the flame burning. Your appearances were always remarkable with that glitter in your eyes which used to lighten up my weekend whenever you showed up. Brother Akin was always at hand to host us. Whenever he wasn’t around, we would go out to hang out as young people to have fun. You were always with the older ones hardly having time for your generation. Distance would now separate us when I was posted to Taraba state by the then daily times as its maiden correspondent. But we always met along the way until you joined the air force.

Your worries about Nigeria

Tope, at your level in the service in the military, you already knew the difference between right and wrong and you were very methodical and meticulous in the way you conducted your affairs. You asked more questions as always but this time as a seasoned personnel of the Nigerian Air Force. You knew where you were coming from and were you wanted to be in the nearest future. I encouraged you that in all things we should give thanks to our Creator. The one who is and is to come. You were on course in your relationship with him.

I remember our last discussion, about the insurgency challenge the military is dealing with at our backyard in Borno. Your perception about the Nigerian Air Force which you served till your natural passing. And your projection for the future in terms of security for the country. I asked for your family and you updated me that they were fine. I was worried about the fact that I am yet to meet your loving family but you assured me that we would surely meet someday even though your spouse was in Canada pursuing her dream. The telephone chat zeroed down to why I called. I actually chatted you because I remembered your father the great Uncle Alaba who had gone to the great beyond. And I wanted to honour his memory with a tribute 29 years after his demise. You promised feeding me with the extra details I wanted to add to what I got from your big sis Tosin. But that never happened. I never got the pictures of Uncle or the details I wanted. That has been rested for his 30th anniversary now.
Rather what I got was a rude shock of your sudden collapse and departure from this world. Tope, you suddenly joined your father in the great beyond at the untimely age of 50. We can’t question God Almighty our Creator over this decision. We would rather give thanks to him for the life you lived because He said we must give thanks to Him in all things.
Aburo, all I can say now is permission granted because you never sort for anyone’s permission to bow out. This was the command of your creator, the All knowing I Am who decides when it is time to come or to leave this world. Tope, be rest assured that some of us will never forget coming across your path in this short life. Enjoy your sleep great soldier until we meet to part no more.

Broda Sam.

Tribute to the late flight Sergeant Temitope Beckley

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