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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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Six killed, nine injured in fatal auto crash in Plateau

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Six killed, nine injured in fatal auto crash in Plateau

By: Zagazola Makama

Six persons were killed and nine others injured in a fatal motor accident involving a trailer truck at Shendam Road junction in Langtang North Local Government Area of Plateau State.

Sources said that the accident occurred at about 5:30 a.m. on Jan. 4 when a trailer conveying about 400 bags of unprocessed rice from Yelwa-Shendam en route Kano State lost control and fell off the road.

The deceased were identified as Samaila Dahiru, from Katsina State; Sanusi Ladan Yelwa, from Toro Local Government Area of Bauchi State; Abubakar Sa’id, from Dass Local Government Area of Bauchi State; and Zaradeen Makama, from Birnin Kudu, Jigawa State.

Police said two other victims died in the crash but were yet to be identified as at the time of filing this report.

They added that nine persons sustained varying degrees of injuries.

“On receipt of the distress call, the Divisional Police Officer, Langtang North, mobilised and led a team of policemen to the scene and cordoned off the area,” the sources said.

They said the injured victims were rushed to the General Hospital, Langtang North, with the assistance of personnel of the Federal Road Safety Corps (FRSC) and members of the public for medical attention.

According to the sources , the identified corpses were released to their relatives for burial in line with Islamic rites.

Six killed, nine injured in fatal auto crash in Plateau

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Realistic training key to winning modern battles, says Army Chief as he declared the TRADOC Conference 2026 open

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Realistic training key to winning modern battles, says Army Chief as he declared the TRADOC Conference 2026 open

By: Zagazola Makama

The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, has reiterated that realistic, mission-oriented and doctrine-driven training remains the most critical enabler for superior operational outcomes across Nigeria’s diverse theatres of operation.

Shaibu made this assertion while delivering his opening remarks at the 2026 Training and Doctrine Command (TRADOC) Conference, which formally commenced the Nigerian Army’s training activities for the year.

The Army Chief warned that failure to adequately and realistically prepare officers and soldiers for assigned missions would inevitably undermine operational effectiveness, noting that the evolving and increasingly complex security environment demands a force that is professional, adaptable, combat-ready and resilient.

According to him, the conference was convened to promote robust and forward-looking deliberations aimed at aligning training, doctrine and operational concepts with contemporary and emerging security challenges confronting the nation.

Shaibu said Army Headquarters remained firmly focused on sound policy formulation and holistic, mission-specific training, in line with his Command Philosophy.

He charged commandants and leaders of training institutions to internalise this philosophy and translate it into practical outcomes by producing combat-ready, resilient and adaptable troops capable of operating effectively within joint and multi-agency environments.

The COAS described the theme of the conference, “Enhancing Nigerian Army Operational Outcomes Through Effective Training and Doctrine Implementation,” as apt and timely, stressing that doctrine must continue to guide training, planning and the execution of operations across all formations.

He urged participants to relate conference presentations to real operational experiences, with a view to strengthening the Army’s capacity to counter terrorism, insurgency and other contemporary security threats.

Shaibu placed particular emphasis on Exercise MUGUN BUGU, describing it as the hallmark of Nigerian Army training activities. He said the exercise remained central to validating doctrinal principles and assessing operational readiness.

The Army Chief called for greater realism in training scenarios, including the integration of improvised explosive device (IED) threats, explosive ordnance disposal (EOD) procedures and the expanded use of simulators to enhance proficiency and cost-effectiveness.

While acknowledging the sacrifices of Nigerian Army personnel in safeguarding national security, Shaibu reaffirmed his commitment to strengthening fighting power, improving welfare and administration, and providing purposeful leadership to confront threats to peace and security.

He also commended past commanders of the Training and Doctrine Command, retired senior officers and the current TRADOC leadership for their contributions to the development of the Nigerian Army.

The COAS appreciated the conference resource persons for their insights, which he said would help shape the Army’s training and doctrinal direction in the year ahead.

Shaibu further expressed gratitude to the President and Commander-in-Chief of the Armed Forces, President Bola Ahmed Tinubu, GCFR, for his sustained support to the Nigerian Army, while reaffirming the unalloyed loyalty of the Service to the Constitution of the Federal Republic of Nigeria.

In his welcome remarks, the Commander, Training and Doctrine Command, Maj.-Gen. Peter Malla, described the conference as a critical intellectual platform for setting the tone for Nigerian Army training activities in 2026.

Malla said the conference underscored the Army’s unwavering commitment to doctrine-driven, realistic and mission-focused training as the foundation for operational effectiveness, particularly in an increasingly complex and adaptive security environment.

He noted that Nigeria’s prolonged engagements in counter-terrorism, counter-insurgency and other internal security operations had consistently highlighted the vital link between sound doctrine, effective training and operational success.

The TRADOC commander reaffirmed the command’s commitment to Nigerian Army Doctrine as the professional blueprint guiding operations, stressing the need for doctrine to remain dynamic and responsive to emerging threats.

He urged participants to actively engage in deliberations, challenge assumptions and propose practical solutions aimed at enhancing training effectiveness and strengthening the Army’s collective operational competence.

The COAS later formally declared the Training and Doctrine Command Conference 2026 open

Realistic training key to winning modern battles, says Army Chief as he declared the TRADOC Conference 2026 open

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One killed, nine arrested as rival gangs clash in Kano

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One killed, nine arrested as rival gangs clash in Kano

By: Zagazola Makama

One person was killed and nine suspects arrested following a violent clash between rival thuggery groups in Kawo and Mariri areas of Kano metropolis, sources have confirmed.

Sources told the Zagazola Makama that the incident occurred on Jan. 4 at about 9:00 p.m., following a fight between two rival groups led by Kabalo Snu and Faizu Mohammed, popularly known as Chabross of Yar Kasuwa, Kawo Quarters.

According to the sources, the clash was a reprisal attack linked to an earlier confrontation between the two groups. They said that earlier in the day, at about 1:40 p.m., Faizu Mohammed allegedly inflicted injuries on Kabalo during a separate altercation, prompting members of Kabalo’s group to launch a retaliatory attack later that night.

During the reprisal, Faizu Mohammed was reportedly stabbed in the neck with a sharp object, sustaining severe injuries. He was rushed to Sir Muhammadu Sanusi Specialist Hospital, where he died while receiving treatment.

The sources said the corpse was subsequently released to his relatives for burial, while normalcy was restored in the area.

However, tension resurfaced in the early hours of Jan. 5 when information was received that some suspected thugs were mobilising in large numbers at Kawo Quarters, allegedly to carry out another reprisal attack on Kabalo at his residence located at Jar Kuka, Mariri Quarters.

The sources said police operatives were swiftly deployed to the area and arrived to find that the suspects had already broken into a shop belonging to Kabalo.

According to the sources, the operatives charged into the area, arrested nine suspects and recovered some exhibits, while several others fled the scene.

The sources added that the situation has since been brought under control, with normalcy restored across the affected neighbourhoods. Investigation is ongoing, while efforts are being intensified to arrest other fleeing suspects and prevent further breakdown of law and order.

One killed, nine arrested as rival gangs clash in Kano

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