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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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Remi Tinubu commissions nursing quarters, two mega schools in Borno

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Remi Tinubu commissions nursing quarters, two mega schools in Borno

By: Michael Mike

The First Lady of Nigeria, Senator Oluremi Tinubu, on Monday commissioned newly completed nursing quarters and two mega primary schools in Maiduguri, the Borno State capital, as part of ongoing efforts to strengthen healthcare delivery and expand access to quality education in the state.

The projects were executed under Governor Babagana Zulum’s administration, which has continued to prioritize infrastructure development in the health and education sectors.

The newly inaugurated nursing quarters, located beside the State Specialist Hospital, consist of eight blocks of six flats each. The housing units are fully furnished and fitted with air-conditioning systems to improve living conditions for medical personnel.

In the education sector, Senator Tinubu also commissioned Aliyakeri and Abbaganaram Mega Primary Schools. Each facility features 48 classrooms designed to accommodate thousands of pupils, alongside ICT centres, modern sports facilities, e-learning platforms, and solar-powered systems to ensure uninterrupted academic activities.

Speaking at the ceremony, the First Lady commended Governor Zulum’s leadership style, describing the projects as people-focused and impactful.

“What we have seen so far in Borno is quite encouraging. You have done very well, and I am truly honoured to be part of this commissioning,” she said.

Governor Zulum’s administration has reportedly completed 104 mega schools across the state, with additional projects ongoing across Borno’s 27 local government areas.

During the event, Senator Tinubu also flagged off a N200 million empowerment programme targeting 2,000 vulnerable women. Each beneficiary is expected to receive N100,000 alongside a sewing machine to support small-scale businesses and improve household income.

The First Lady praised the initiative, noting that it aligns with national efforts to strengthen community-based economic empowerment and food security programmes.

Under the distribution plan, 400 women were selected from Maiduguri metropolis, 200 from Jere Local Government Area, 100 from Biu, while 50 beneficiaries were drawn from each of the remaining 24 local government areas.

In addition, eight outstanding education workers, including teachers, head teachers, principals, TVET coordinators, and ministry staff, were presented with brand-new utility vehicles in recognition of their service.

In a related gesture, Governor Zulum also presented a house to a ministry watchman, Baba Modu Fandi, in appreciation of his dedication, while Senator Tinubu further supported him with an additional ₦2 million financial assistance.

Remi Tinubu commissions nursing quarters, two mega schools in Borno

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Two Men Sustain Severe Injuries in Mutual Attack Over Mining Site Dispute in Niger State

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Two Men Sustain Severe Injuries in Mutual Attack Over Mining Site Dispute in Niger State

By: Zagazola Makama

Two men are receiving treatment at a hospital in Niger State after sustaining serious injuries in a violent altercation reportedly linked to a dispute at an illegal mining site.

Security sources told Zagazola that the incident occurred in a Fulani settlement near Iwa village in Gurara Local Government Area.

The sources said the matter was reported to the police on April 25 at about 1:30 p.m. after the victims were brought in by the Officer-in-Charge of Iwa Outstation.

According to the sources, the confrontation began on April 24 at about 9:00 a.m. when Jibril Yusuf, 22, allegedly went to the hut of Haruna Tukur, 35, and set him ablaze after a misunderstanding at an illegal mining site.

The sources further stated that Haruna Tukur, in retaliation, attacked Jibril Yusuf with a machete, severing his fingers during the violent exchange.

Both men were rushed to the General Hospital in Gawu Babangida, where they are currently responding to treatment.

Security operatives said investigations have commenced to determine the full circumstances surrounding the incident, while the case remains under active review.

Two Men Sustain Severe Injuries in Mutual Attack Over Mining Site Dispute in Niger State

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Windstorm Damages NYSC Camp in Niger, Two Children Injured

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Windstorm Damages NYSC Camp in Niger, Two Children Injured

By: Zagazola Makama

A heavy windstorm following a downpour has caused partial damage to structures at the National Youth Service Corps (NYSC) Orientation Camp in Paiko, Niger State, leaving two children injured.

Security sources told Zagazola that the incident occurred on April 25 at about 8:00 p.m. when strong winds brought down parts of the camp infrastructure during the rainfall.

The sources said police personnel were immediately mobilised to the scene to restore order and provide security, while some corps members were safely evacuated from affected areas.

According to the sources, no loss of life was recorded in the incident.

However, two girls identified as Fati Abdul, 12, and Adewumi Adesola, 11, sustained minor injuries during the incident. They were taken to a medical facility, treated and later discharged.

The sources added that normalcy has since been restored at the camp, while the area remains calm and under observation to ensure continued safety of occupants.

Windstorm Damages NYSC Camp in Niger, Two Children Injured

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