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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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Nigeria, China Seek Expanded Cooperation in Tourism, Heritage, Creative Industries

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Nigeria, China Seek Expanded Cooperation in Tourism, Heritage, Creative Industries

By: Michael Mike

Nigeria and China have intensified efforts to strengthen bilateral cooperation in tourism, culture, and the creative economy, with both countries identifying the sectors as major drivers of economic growth, cultural diplomacy, and people-to-people relations.

This commitment was reaffirmed at the weekend during the 2026 China Tourism Day celebration hosted by the China Cultural Centre in Nigeria (CCIN) in Abuja, where government officials, diplomats, tourism stakeholders, artists, and cultural enthusiasts gathered to celebrate the growing partnership between the two nations.

Speaking at the event, Yang Jianxing said tourism remains one of the most effective instruments for fostering mutual understanding and strengthening ties among nations.

He explained that the theme of this year’s celebration, “Enjoying Quality Tourism, Exploring Beautiful Landscapes,” reflects the increasing global importance of tourism as a platform for intercultural dialogue and peaceful coexistence.

According to him, both China and Nigeria possess rich historical civilizations, diverse cultural identities, and globally recognised tourism assets capable of deepening cooperation between their peoples.

Yang cited iconic destinations including the Great Wall of China and Mount Tai, alongside Nigeria’s Osun-Osogbo Sacred Grove and Zuma Rock, describing them as enduring cultural symbols that continue to connect civilizations across continents.

He noted that several joint cultural initiatives organised over the years by both countries, including the Happy Chinese New Year programmes and China-Nigeria Cultural and Tourism Festivals, had expanded cultural exchanges through artistic performances, traditional exhibitions, and culinary experiences.

“These activities have not only strengthened friendship between our peoples but have also promoted the spirit of harmony, mutual respect, and cultural inclusiveness,” he said.

Yang further disclosed that China was prepared to deepen collaboration with Nigeria under the framework of the China-Africa Year of People-to-People Exchanges, with fresh opportunities expected in heritage preservation, tourism promotion, cultural innovation, and the creative industries.

He encouraged more Nigerians to explore educational and tourism opportunities in China while expressing optimism that more Chinese visitors would also discover Nigeria’s rich cultural heritage, artistic diversity, and tourism potential.

Also addressing participants, Abdulkarim Ibrahim described the event as another milestone in the long-standing diplomatic and cultural relationship between Nigeria and China, which he said has continued to flourish for more than five decades.

Nigeria, China Seek Expanded Cooperation in Tourism, Heritage, Creative Industries

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Zulum Lauds Peaceful Conduct of APC House of Reps Primaries in Borno

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Zulum Lauds Peaceful Conduct of APC House of Reps Primaries in Borno

By: Michael Mike

Governor of Borno State, Babagana Umara Zulum, has commended the peaceful and orderly conduct of the All Progressives Congress primary election for the House of Representatives across the state.

Zulum gave the commendation on Saturday shortly after supervising the APC primary election for the Gubio, Kaga and Magumeri Federal Constituency held in Magumeri town.

Hundreds of party supporters from the three local government areas gathered at the venue to welcome the governor and APC officials overseeing the exercise.

Speaking with journalists after the primary, Zulum said the process was conducted in line with the Electoral Act 2026 and the constitution of the APC, which allows aspirants to adopt consensus arrangements.

“We are here to witness the primary election in line with the Electoral Act 2026 and the APC constitution, which allows for consensus arrangements among aspirants,” the governor stated.

He explained that although three aspirants initially indicated interest in contesting for the party’s House of Representatives ticket, two later withdrew in support of the incumbent lawmaker, Hon. Usman Zannah.

“We have three contestants vying for the position of the House of Representatives, but fortunately, under the consensus arrangement as enshrined in the constitution of our party, the All Progressives Congress (APC), two of the aspirants stepped down for the incumbent member, Hon. Usman Zannah,” he said.

According to the governor, party members and stakeholders from the constituency affirmed their support for the consensus candidate during the exercise.

Zulum congratulated Hon. Zannah on his emergence and praised the aspirants who stepped down — Hon. Shettima Shehu and Alhaji Mohammed Sanda Ngamdu — describing their action as a demonstration of unity, sacrifice and political maturity.

“I want to extend my congratulations to the candidate and the others who stepped down for him,” he said. “I also want to express my appreciation to all APC supporters and the people of Borno State for ensuring a peaceful voting process.”

The governor stressed that the consensus arrangement adopted by the party was voluntary and not designed to deny any aspirant the opportunity to contest.

“Under the consensus arrangement, the government of Borno State and the party have never taken a decision to stop anybody from contesting,” he explained. “Consensus is a voluntary option, and anybody who does not wish to go for a consensus election has the right to participate in a direct primary.”

Chairman of the APC Primary Elections Committee for Gubio, Kaga and Magumeri Federal Constituency, Hon. Yuguda Saleh Vungas, also confirmed that party stakeholders agreed on consensus as the mode of primary election.

He commended Governor Zulum for creating an enabling environment for the smooth and peaceful conduct of the exercise.

Through a voice vote, APC members from the three local government areas unanimously affirmed Hon. Usman Zannah as the party’s consensus candidate for the House of Representatives seat.

Officials of the Independent National Electoral Commission and APC national headquarters monitored the exercise.

Governor Zulum was accompanied by the APC consensus gubernatorial candidate, Engr. Mustapha Gubio, Secretary to the State Government Bukar Tijani, and Acting Chief of Staff, Dr. Babagana Mustapha Mallumbe.

Zulum Lauds Peaceful Conduct of APC House of Reps Primaries in Borno

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U.S., Nigerian Forces Eliminate ISIS Second-in-Command in Joint Operation

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U.S., Nigerian Forces Eliminate ISIS Second-in-Command in Joint Operation

By: Zagazola Makama

The United States has announced the elimination of Abu-Bilal al-Minuki, described as the second-in-command of the global Islamic State terrorist network, during a joint counterterrorism operation conducted with Nigerian security forces.

In a statement issued on Friday, Donald Trump said American forces, working alongside the Nigerian Armed Forces, carried out what he described as a “meticulously planned and very complex mission” targeting the terrorist leader.

According to Trump, Abu-Bilal al-Minuki had been operating from Africa and was considered one of the most active terrorist figures globally.

“Tonight, at my direction, brave American forces and the Armed Forces of Nigeria flawlessly executed a meticulously planned and very complex mission to eliminate the most active terrorist in the world from the battlefield,” Trump said.

He stated that the operation was enabled through intelligence sources that tracked the activities and movements of the ISIS commander.

Trump added that the removal of al-Minuki would significantly weaken the global operations of the terrorist group and reduce its capability to coordinate attacks, including plots targeting American interests.

He also thanked the Nigerian government for its cooperation and partnership in the operation.

“With his removal, ISIS’s global operation is greatly diminished. Thank you to the Government of Nigeria for your partnership on this operation,” he said.

Neither the U.S. nor Nigerian authorities immediately disclosed the exact location or operational details surrounding the mission.

The development marks one of the most significant counterterrorism operations involving U.S. and Nigerian forces in recent years against transnational terrorist elements linked to the Islamic State network.

U.S., Nigerian Forces Eliminate ISIS Second-in-Command in Joint Operation

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