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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
Zulum Donates ₦50m to Family of Fallen Officer, Reaffirms Support for Military Heroes
Zulum Donates ₦50m to Family of Fallen Officer, Reaffirms Support for Military Heroes
By: Michael Mike
Borno State Governor, Babagana Zulum has donated ₦50 million to the family of late Lieutenant Colonel OC Okolo, who was killed during a Boko Haram attack in Mandaragirau, Biu Local Government Area of Borno State, on February 16, 2026.
The gesture comes amid a series of similar interventions by the governor, including a recent ₦150 million donation to families of three military officers who lost their lives in separate attacks across the state.
Zulum reiterated his administration’s unwavering commitment to supporting families of fallen soldiers, describing their sacrifices as invaluable to Nigeria’s security and unity. He assured that his government would continue to identify with and assist families of personnel killed or declared missing in action in the ongoing counter-insurgency operations.
The donation was delivered at a funeral service held in Obinofia Ndiuno, Ezeagu Local Government Area of Enugu State on Firiday. The governor was represented by his Special Adviser on Security, Brigadier General Abdullahi Sabi Ishaq (Rtd), who presented the cash on behalf of the Borno State Government.
Speaking through his representative, Zulum expressed deep sorrow over the officer’s death.

He said: “Lt. Col OC Okolo was a gallant, dedicated and committed officer of the nation whose contributions will not be forgotten,” while extending condolences to the family, friends, and colleagues of the deceased.
He also prayed for the repose of the late officer’s soul and for strength for the bereaved family.
Responding on behalf of the family, Stanley Okolo expressed profound gratitude to the governor for the support and solidarity shown during their time of grief.
@The family members were particularly touched by the cash donation and the delegation sent from Maiduguri to attend the funeral service despite the short notice,” he said.

He further commended the Chief of Army Staff and the General Officer Commanding, 82 Division, for sending representatives to honour the late officer.
The funeral was attended by senior military representatives, including Brigadier General G.A. Suru, representing the Chief of Army Staff, and Brigadier General I.P. Omoke, who represented the Theatre Commander of Operation HADIN KAI, alongside members of the Nigerian Army Officers’ Wives Association (NAOWA) and the host community.
The donation underscores ongoing efforts by the Borno State Government to recognise and support the families of those who have made the ultimate sacrifice in Nigeria’s fight against insurgency.
Zulum Donates ₦50m to Family of Fallen Officer, Reaffirms Support for Military Heroes
News
MSF Ramps Up Emergency Response as Lassa Fever Outbreak Deepens in Benue
MSF Ramps Up Emergency Response as Lassa Fever Outbreak Deepens in Benue
By: Michael Mike
A worsening Lassa fever outbreak in Benue State has triggered an urgent intervention by international medical humanitarian organisation Médecins Sans Frontières (MSF), as rising infections and deaths place severe pressure on already stretched health facilities.
Working in collaboration with the Benue State Ministry of Health, MSF has deployed emergency teams to reinforce infection prevention and control (IPC) measures, following a surge in cases that has exposed critical gaps in healthcare safety systems—particularly affecting frontline workers.
Official data indicate that as of mid-March, the state recorded 410 suspected cases of Lassa fever, with 60 confirmed infections and 14 deaths. Disturbingly, 14 healthcare workers are among those infected, raising serious concerns about inadequate protective measures within treatment centres.
The situation reflects a broader national crisis. The Nigeria Centre for Disease Control and Prevention (NCDC) reports that Nigeria has recorded 167 deaths from Lassa fever in the first 13 weeks of 2026 alone, with a case fatality rate of 25.2 per cent—significantly higher than the 18.5 per cent recorded during the same period in 2025.
Benue State formally declared the outbreak on February 3, 2026, as infections escalated across communities in what is already recognised as one of Nigeria’s high-risk zones for the disease.
Lassa fever, an acute viral haemorrhagic illness endemic in Nigeria, typically peaks between November and April. It is primarily transmitted through contact with food or household items contaminated by infected rodents, but can also spread through direct contact with the bodily fluids of infected persons—making healthcare settings particularly vulnerable when safety protocols are weak.
Responding to the emergency, MSF launched a three-month intervention in March aimed at containing the outbreak and preventing further transmission. The mission was initiated at the request of state authorities, especially in light of rising infections among health workers and persistent shortages of personal protective equipment (PPE).
“Healthcare workers and patients are at significant risk when infection prevention measures are not fully in place,” said MSF Emergency Coordinator, Juniper Gordon. “Strengthening IPC and improving the organisation of care are critical to reducing transmission in health facilities.”
MSF teams are now providing hands-on support in selected facilities, focusing on strengthening clinical practices and improving patient management systems. This includes training healthcare workers on IPC protocols, reorganising triage processes, and establishing clearly defined high-risk and low-risk zones to limit cross-infection.
The organisation is also supplying essential materials, including PPE, hygiene kits, and sanitation supplies, while reinforcing waste management systems and infection control procedures. Handwashing stations are being installed across supported facilities, and surveillance efforts are being strengthened through improved data collection and monitoring.
In a move to support patient welfare, MSF is also providing food assistance to individuals in isolation centres, helping to ease the burden on affected families.
MSF said it is coordinating closely with global and national partners, including the World Health Organization, UNICEF, and the NCDC, to scale up response efforts and curb the spread of the disease.
Despite these interventions, public health experts warn that the outbreak underscores deeper systemic challenges in Nigeria’s healthcare system, particularly in infection control preparedness and rapid response capacity.
MSF Ramps Up Emergency Response as Lassa Fever Outbreak Deepens in Benue
News
Troops arrest 20 suspects, recover cash, electronics in Adamawa raid
Troops arrest 20 suspects, recover cash, electronics in Adamawa raid
By: Zagazola Makama
Troops of 232 Battalion (Tactical) have arrested 20 suspects and recovered cash and electronics during a raid on suspected criminal hideouts in Mubi North Local Government Area of Adamawa State.
Security sources said the operation was conducted at about 5:00 a.m. on April 10 in Agwan Rami and Agwan Mallam areas, following credible intelligence.
The sources disclosed that troops, in collaboration with local hunters, stormed the identified hideouts and apprehended the suspects.
“During the operation, 20 suspects were arrested in criminal hideouts, while others were picked up for loitering during curfew hours,” the source said.
Items recovered include seven mobile phones, eight touch lights, one ThinkPad laptop and the sum of ₦2,137,285, among other items.
The suspects are currently in custody for further investigation and necessary action.
The operation is part of ongoing efforts to curb criminal activities and enforce law and order in Adamawa State.
Troops arrest 20 suspects, recover cash, electronics in Adamawa raid
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