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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
Male Leaders Key to Ending GBV, Changing Harmful Norms in West Africa, FG Says
Male Leaders Key to Ending GBV, Changing Harmful Norms in West Africa, FG Says
By: Michael Mike
The Federal Government, UN Women and development partners on Monday declared traditional, religious and community leaders as indispensable allies in the campaign to end gender-based violence (GBV) and dismantle harmful social norms across Nigeria and West Africa, even as they announced a new regional initiative to tackle the growing threat of technology-facilitated violence against women and girls.
The commitment was reaffirmed at the close-out of the Leadership, Engagement, Advocacy and Prevention (LEAP) Project, a three-year Ford Foundation-funded programme implemented by UN Women to mobilise traditional and cultural leaders against GBV.
Speaking at the event in Abuja, the Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, said sustainable progress in ending violence against women and girls would depend on the willingness of influential community leaders to challenge harmful cultural practices and champion gender equality.
She described traditional and religious institutions as powerful agents capable of transforming attitudes that perpetuate violence and discrimination against women and girls.
The minister stressed that changing harmful social norms required collective action beyond government interventions, urging community leaders to continue using their influence to promote dignity, justice and equal opportunities.
UN Women, however, said the conclusion of the LEAP Project marked not the end of the movement but the beginning of a broader regional campaign.
In remarks delivered on behalf of the UN Women Representative to Nigeria and ECOWAS, Beatrice Eyong, the organisation announced that the Ford Foundation had approved renewed funding for a new regional initiative titled “Community-Led Advocacy and Digital Spaces for the Safety of Women and Girls in West Africa.” The programme will be implemented in Nigeria, Ghana and Senegal and will build on the gains recorded under the LEAP Project by strengthening collaboration with traditional and religious leaders, community institutions and women’s rights organisations.
According to UN Women, the new initiative will also confront one of the fastest-growing forms of violence affecting women and girls—technology-facilitated gender-based violence—including online harassment, cyberstalking, image-based abuse and online exploitation.
The organisation said trusted traditional and religious leaders who had successfully driven change within their communities would now be equipped to promote safe, respectful and inclusive digital spaces, extending the fight against GBV from physical communities to the online environment.
UN Women also highlighted encouraging national data suggesting that prevention efforts were beginning to yield measurable results.
Citing findings from the 2024 Nigeria Demographic and Health Survey, the agency said the prevalence of sexual violence against women declined from nine per cent in 2018 to five per cent in 2024, while physical violence since age 15 dropped from 31 per cent to 19 per cent. Intimate partner violence also fell from 36 per cent to 23 per cent, and female genital mutilation declined from 20 per cent to 14 per cent over the same period.
Nevertheless, UN Women cautioned that declining rates of help-seeking among survivors underscored the need for stronger survivor-centred services, improved reporting mechanisms, psychosocial support and greater access to justice.
The organisation noted that over the three years of implementation, the LEAP Project helped traditional and religious leaders publicly reject harmful practices, strengthened partnerships between governments and traditional institutions, engaged more men and boys as allies, and established community accountability mechanisms that empowered women and girls to seek support. It also facilitated collaboration with Liberia, Sierra Leone, Senegal, Niger and Ghana in developing a Regional Accountability Framework for Traditional Leaders on Gender-Based Violence Prevention.
Stakeholders at the event maintained that while significant progress had been made, sustained investment in prevention, stronger partnerships with community leaders and continued regional cooperation would be critical to eliminating gender-based violence and ensuring that cultural and religious institutions become enduring champions of women’s rights across West Africa.
Male Leaders Key to Ending GBV, Changing Harmful Norms in West Africa, FG Says
News
Marwa Inaugurates Historic Weapons Training for NDLEA Officers, Inducts AK-47 Rifles After 36 Years
Marwa Inaugurates Historic Weapons Training for NDLEA Officers, Inducts AK-47 Rifles After 36 Years
By: Michael Mike
The National Drug Law Enforcement Agency (NDLEA) on Monday formally commenced the induction of assault rifles and advanced pistols into its operational structure for the first time since its establishment 36 years ago, marking a significant shift in its strategy to confront increasingly armed and violent drug trafficking syndicates.
The landmark development was unveiled by the Chairman/Chief Executive Officer of the agency, Brigadier General Buba Marwa (rtd), during the inauguration of a specialised Train-the-Trainer Course on Weapon Handling at the NDLEA Academy in Jos, Plateau State.
The training, which focuses on the handling of AK-47 Type 56-1 rifles and HS-9/CF98A pistols, is designed to produce pioneer instructors who will subsequently train officers across the country’s commands before the weapons are deployed for operational use.
Represented by his Chief of Staff, Colonel Murtala Aminu, Marwa said the initiative reflected the changing realities of Nigeria’s anti-drug war, noting that drug trafficking organisations had evolved into heavily armed criminal networks capable of confronting law enforcement officers.
“The nature of the war we fight has evolved,” he said. “Drug trafficking organisations are no longer mere commercial criminal enterprises; they are armed, organised and ruthless. Our officers face increasing danger in the field, and it would be unconscionable to send men and women into harm’s way without the tools and training to protect themselves and the public they serve.”
He stressed that the programme was not merely about introducing firearms but about protecting the lives of personnel while strengthening the agency’s capacity to combat organised crime.
Marwa attributed the milestone to the support of President Bola Tinubu, commending him for prioritising the strengthening of the agency’s operational capabilities.
He also acknowledged the Office of the National Security Adviser (ONSA) for facilitating the immediate release of an initial consignment of firearms and ammunition, which enabled the commencement of the training programme.
Providing details of the procurement process, Marwa disclosed that the acquisition of the weapons, initiated in 2023 through China North Industries Corporation (NORINCO), had reached its final phase.
According to him, thousands of AK-47 rifles, pistols and ammunition are expected to arrive shortly, while a comprehensive distribution and accountability framework has already been approved to ensure transparency in their deployment.

He added that the agency was collaborating with the Nigerian Air Force to airlift the weapons to commands across the country for secure distribution.
Marwa described the pioneer participants as the foundation upon which the NDLEA’s future weapons-handling culture would be built, charging them to uphold professionalism, discipline and strict adherence to safety standards.
“You are the first. You are the standard-bearers. The operational culture, the safety ethos and the professional discipline that will define how the NDLEA handles weapons all begin here,” he said.
He urged the trainees to regard weapons handling as a grave responsibility rather than a privilege, insisting that every firearm must be handled with utmost caution.
He further emphasised that technical proficiency must always be guided by ethics, restraint, sound judgement and strict compliance with the rules of engagement and the rule of law.
According to him, the authority conferred by firearms should never be abused but exercised responsibly in protecting lives and safeguarding the public.
Marwa said the introduction of tactical weapons represented another milestone in the agency’s transformation into a more professional and effective institution.
He noted that in recent years the NDLEA had recorded unprecedented seizures of illicit drugs, dismantled major trafficking syndicates and secured convictions against notorious drug traffickers.
“The induction of more arms into our operational inventory is the next chapter in that story, and it is a chapter that must be written with honour,” he said.
The agency has in recent years intensified nationwide operations against drug trafficking and abuse, leading to record seizures of narcotics, arrests of traffickers and destruction of cannabis plantations across several states.
The formal arming of selected operational personnel is expected to strengthen officers’ ability to protect themselves during high-risk interdictions and confront increasingly sophisticated criminal networks involved in illicit drug trafficking.
Marwa Inaugurates Historic Weapons Training for NDLEA Officers, Inducts AK-47 Rifles After 36 Years
News
Army EOD Team Discovers, Destroys Two Terrorist IEDs in Borno
Army EOD Team Discovers, Destroys Two Terrorist IEDs in Borno
By Zagazola Makama
Troops of the Nigerian Army’s 5 Brigade Explosive Ordnance Disposal (EOD) Team have successfully discovered and safely disposed of two Improvised Explosive Devices (IEDs) planted by suspected terrorists in Mobbar Local Government Area of Borno State.
Military sources told Zagazola Makama that the operation was carried out at about 5:40 p.m. on June 26 in Wokilti Village following intelligence and routine counter-IED clearance activities in the area.
According to the sources, the explosives were carefully concealed and buried by terrorists along a route believed to be used by troops and civilians, in what appeared to be an attempt to inflict casualties and disrupt ongoing military operations.
The EOD team, using specialised detection and disposal procedures, identified the buried explosives and successfully rendered both devices safe without any casualties or damage.
The sources noted that the prompt discovery and destruction of the IEDs averted a potentially deadly incident and underscored the importance of sustained counter-IED operations in areas previously exploited by terrorist groups.
Military authorities have urged residents to remain vigilant and promptly report suspicious objects or movements to security agencies, as terrorists continue to employ improvised explosive devices in attempts to impede military advances and endanger civilian lives.
Army EOD Team Discovers, Destroys Two Terrorist IEDs in Borno
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