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Sustainable growth and building resilience in Africa require structural transformation – Economic Report on Africa (ERA 2023)

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Sustainable growth and building resilience in Africa require structural transformation – Economic Report on Africa (ERA 2023)

By: Michael Mike

The Economic Report on Africa 2023 (ERA 2023) has said: “Achieving sustainable growth and building resilience requires structural transformation.”

It also said: “Successful industrial policy requires both sectoral focus as well as getting the basics right. It is essential for countries to identify optimal combinations of policy actions to nurture an industrial programme.”

The report with title: “Building Africa’s Resilience to Global Economic Shocks”, and presented by the Director, Macroeconomics and Governance Division at the United Nations Economic Commission for Africa (UNECA), Adam Elhiraika, was launched in Abuja on Monday.

The report showed that the current global economic architecture affords opportunities for African countries to leapfrog and accelerate industrialization through careful experimentation of what has worked elsewhere and adapting it to local conditions.

Elhiraika explained that firm survival and growth in Africa were closely linked with exporting, working with international capital and international or global firms, adopting international managerial norms and standards as well as developing industrial clusters.

These elements, according to ERA 2023, come in different shades depending on the type of firms and their technology intensity. Broadly, however, three economic fundamental gaps require attention to get the basics right: skill gaps; infrastructure gaps and overall institutional quality gaps.

On Promoting regional value chains, the report states that countries can collaborate in creating, for example, regional agricultural commodity markets that will help to connect surplus economies with net importers for wheat, sugar and rice. This will reduce dependence on Russia and Ukraine.

The report also explained that: “Financial integration could also protect the continent from the vicious cycle of debt distress and liquidity crunches through regional bond markets that would enhance savings mobilization, risk pooling and funding for regional and national infrastructure.”

UN Resident and Humanitarian Coordinator, Matthias Schmale, represented by the Economist in the Resident Coordinator’s Office, Nonso Obikili, noted that the convergence of many crises, such as the shocks generated by the consequences of the COVID-19 epidemic, the ripple effects of the Russian invasion of Ukraine, and climate change had resulted in Africa experiencing a setback or lack of progress in achieving the targets set by the Sustainable Development Goals (SDGs).

He cited an example of the impact of shocks on poverty, in 2021, when almost 30 million Africans experienced severe poverty, and the loss of 22 million employment occurred.

“The top ten countries with the highest number of poor people account for 64.7% of the continent’s poor population. The first four countries—Nigeria (100 million), the DR Congo (67 million), Tanzania (36 million) and Ethiopia (33 million)—account for 42% of the poor population.” Schmale said.

The ERA 2023 therefore called for new approaches for African countries to address challenges of global economic shocks. The report calls for improving risk management and building resilience strategies through well-designed national development plans and good governance, as well as structural transformation through equitable green growth and smart industrial strategies.

Special Adviser to the President on Economic Matters, Dr Tope Fasua, highlighted economic recessions that Nigeria had experienced in the past: Commodity price crashes of early 1970s after the oil boom in 1973; recession of the 1980s due to fall in commodity prices; and another crash in the mid-2000s due to crude oil crash. “We live life of volatility in terms of our finances, and most of Africa is still tethered to these kinds of risks.” He said.
At the launch were representatives of the United States Embassy, European Union, USAID, Federal Ministry of Budget and Economic Planning; Federal Ministry of Finance; Central Bank; and UN Agencies.

Sustainable growth and building resilience in Africa require structural transformation – Economic Report on Africa (ERA 2023)

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Troops Raid Terrorist Enclaves in Katsina, Criminals Flee Before Contact

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Troops Raid Terrorist Enclaves in Katsina, Criminals Flee Before Contact

By: Zagazola Makama

Troops of 17 Brigade, in collaboration with local vigilantes, have conducted coordinated offensive operations on suspected terrorist enclaves across parts of Katsina State, forcing criminals to flee before troops’ arrival.

Security sources told Zagazola that the operation took place at about 0800 hours on May 10, 2026, targeting Kafin-Soli, Karaduwa, Maraban Musawa and Jikamshi villages in Kankia, Musawa and Matazu Local Government Areas of the state.

The sources said the clearance operation was part of ongoing efforts to dislodge criminal elements and deny them freedom of action within rural communities.

According to the sources, troops and vigilantes moved simultaneously into the identified locations but met no resistance as the suspected terrorists had fled prior to their arrival.

Military authorities said follow-up exploitation of the general area was ongoing to ensure the criminals do not regroup or return to the affected communities.

They added that troops will continue intelligence-led patrols and offensive operations across vulnerable areas in Katsina State to sustain pressure on criminal networks and restore normalcy.

Troops Raid Terrorist Enclaves in Katsina, Criminals Flee Before Contact

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Troops Ambush Terrorists in Kogi State, Neutralise One, Recover Arms and Cash

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Troops Ambush Terrorists in Kogi State, Neutralise One, Recover Arms and Cash

By: Zagazola Makama

Troops of 12 Brigade have successfully ambushed suspected terrorists along the Old Obajana–Jakura–Tajimi axis in Lokoja Local Government Area of Kogi State, neutralising one insurgent and recovering weapons, ammunition and other items.

Security sources said that the operation occurred at about 0450 hours on May 10, 2026, west of Meyanga and north of Adankolo Forest during a planned ambush operation.

The sources said troops made contact with the terrorists in the early hours of the day, leading to a brief exchange of fire.

According to the sources, one terrorist was neutralised during the engagement, while others fled the scene, abandoning their weapons and equipment.

Items recovered at the scene included two AK-47 rifles, six magazines loaded with 145 rounds of 7.62mm special ammunition, one locally fabricated pistol, one Motorola handheld radio, one motorcycle, and a sum of ₦62,900.

Other recovered items included a camouflaged bandolier, three mobile phones and additional sundry materials.

Military authorities said troops have continued exploitation of the general area to track fleeing suspects and prevent regrouping of criminal elements.

They added that operations in the axis remain ongoing as part of sustained efforts to dominate the environment and deny terrorists freedom of action.

Troops Ambush Terrorists in Kogi State, Neutralise One, Recover Arms and Cash

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Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable

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Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable

By: Michael Mike

Human rights and anti-poverty organisation, ActionAid Nigeria, has called for the immediate impeachment of any governor found guilty of using state resources to fund political campaigns ahead of the 2027 general elections.

The organisation made the demand in a statement issued on Tuesday in Abuja by its Country Director, Andrew Mamedu, following growing public concerns over alleged movement of huge sums of money by some political actors for campaign-related activities.

ActionAid Nigeria said the allegations have raised serious questions about the source of the funds allegedly being deployed for political mobilisation and consolidation of power ahead of the next election cycle.

Mamedu described the reports as disturbing and unacceptable, especially at a period when millions of Nigerians are grappling with economic hardship, rising inflation, insecurity, unemployment and worsening living conditions.

According to him, it would amount to a grave abuse of public trust if state resources meant for governance and development were diverted for partisan political purposes.

“It is appalling that at a time when Nigeria is drowning in debt, workers are struggling with the rising cost of living, public hospitals are underfunded, schools are collapsing, insecurity is spreading, and millions of Nigerians are battling hunger and extreme economic hardship, that any suggestion of public resources are being diverted or deployed for political campaigns,” he stated.

The organisation stressed that governors were elected to serve the people and not to convert state resources into what it described as “political war chests.”

ActionAid Nigeria challenged governors and political actors allegedly linked to the claims to publicly explain the source of the funds being used for political activities, insisting that Nigerians deserve transparency and accountability.

The group further urged anti-corruption agencies, including the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission, as well as State Houses of Assembly, to commence immediate investigations into the allegations.

According to the organisation, any governor found culpable should face impeachment, prosecution and recovery of diverted public funds.

“Any governor who diverts public resources for political campaigns has violated public trust and abused the mandate given to them by citizens. Such individuals should not remain in office,” Mamedu said.

He warned that unchecked misuse of public resources could weaken democratic institutions and create an unfair political environment where incumbents enjoy undue advantage over other contestants.

The organisation also noted that while political parties have the right to organise campaigns and raise lawful support, such activities must not involve public funds, government assets or state institutions.

ActionAid Nigeria cited countries such as the United Kingdom, United States, Canada, Germany and South Africa as examples where strict accountability measures exist to prevent incumbents from using state resources for partisan political activities.

The organisation called on citizens, civil society groups, journalists, whistleblowers and anti-corruption advocates to remain vigilant and expose any suspicious use of public resources for political purposes ahead of the 2027 elections.

ActionAid Nigeria maintained that safeguarding democracy and protecting public resources must remain a collective responsibility of both institutions and citizens.

Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable

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