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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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Northern Christian Youth Professionals Commend Senate, Urges President Tinubu to Ensure Inclusive Representation in Appointment into NWDC Board

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Northern Christian Youth Professionals Commend Senate, Urges President Tinubu to Ensure Inclusive Representation in Appointment into NWDC Board

By: Michael Mike

The Northern Christian Youth Professionals has commended the Senate for stepping down the confirmation of the appointments of the Governing Board of the newly established North West Development Commission’s board of directors.

The association had been at the centre of agitation for non approval of the board, insisting that it was not broadly constituted as there was no Christian representation of it.

In a press statement on Sunday, the group said the Senate led by its President, Senator Godswill Akpabio and the Deputy President, Senator Barau Jibrin, with this decision, made on November 19th, has demonstrated its commitment to fair representation and equity in the region.

The statement signed by the group’s chairman, Isaac Abrak read: “We believe this move was made in good faith to enable President Bola Ahmed Tinubu to include Christians on the board, ensuring diverse representation. We urge the President to engage in thorough consultations with Christian leaders and stakeholders in the region to select credible individuals for the board.”

Abrak added that: “Appointing the right people is crucial, not only for Christians in the region but for the entire population. We have faith in President Tinubu’s leadership, knowing his penchant for consultation and selecting capable individuals.

“We assure the President of our continued support and encourage our people and all Nigerians to do the same, as his regime works towards improving living conditions across the country.”

Northern Christian Youth Professionals Commend Senate, Urges President Tinubu to Ensure Inclusive Representation in Appointment into NWDC Board

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Kadafur Lead govt officials to Menwara Festival 2024

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Kadafur Lead govt officials to Menwara Festival 2024

…… Highlights its tremendous significance to cultural heritage

By: Our Reporter

Borno State Governor Professor Babagana Umara Zulum ably represented by the Deputy Governor of Borno State HE (Dr) Umar Usman Kadafur led government officials to celebrate the “Menwara Annual Cultural Festival”, hosted by the Shani Emirate Council.

The Deputy Governor while reading out his remarks said the gathering serves not only as a celebration of our rich cultural heritage but also as a reminder of the values that bind us together as a people, unity, respect and mutual understanding. The Menwara has grown over the years into an event of tremendous significance, bringing together individuals from all folks of life to celebrate the diversity and vibrancy of our traditions.

Dr Kadafur further added that “to everyone present, I encourage you to immerse yourselves fully in the celebration today. Let us take pride in who we are and the remarkable culture that we share. Together, we will continue to grow, thrive, and ensure that the spirit of the Menwara Festivals lives on for generations to come.”

In an address, The emir of Shani Alhaji Muhammad Nasir Mai Lafiya, while tracing the centuries-long tradition opined that the cultural festival depicts characteristics and knowledge of people which includes their language, religion, social habits, music and arts.

“The aim of hosting this annual cultural event therefore, is to continue to instill our cultural heritage and awareness into our younger generation”, the emir remarked.

The emir also took time to formally commiserate with the government and people of Borno over the recent devastating flood in Maiduguri which resulted in significant loss of lives and widespread destruction of properties, praying Allah to grant the deceased and their families the fortitude to bear the irreparable lost .

In a welcome address, the Executive Chairman of Shani Hon Hassan Abdu Labaki, said Shani local government has witnessed significant progress engendered by the present of administration of Governor Zulum with tangible and laudable projects all over the council which includes Vocational Entrepreneurship Institute Shani, Government Day Secondary School Gasi, Government Day Secondary Bargu, health clinic Gasi, Langama secondary school Shani, Shani water gallery, supply and distribution, as well as Local Government computer ICT Center Shani, among other developmental initiatives.

“Your Excellency, on behalf of myself, my council and the entire people of Shani LG we are wishing you, your entourage and all our invited dignitaries a happy and memorable stay in Shani and safe journey back to your destination,” the chairman concluded.

In a vote of thanks, Hon. Musa Inuwa Kubo urged the people of Shani to redouble their efforts in irrigation farming and avoid indiscriminate sales of agricultural produce to avoid food insecurity, while thanking the state governor and his deputy for their unflinching support to the area.

In attendance were the Former Deputy Governor HE Hon Usman Mamman Durkwa, Traditional Rulers, Members House Assembly of Hawul, Shani , Biu, Bayo, Deputy Chief of Staff, Commissioner of Inter-Governmental affairs Hon Ibrahim Tukur Shani, Chairmen of some respective Local Government, Special advisers, Permanent Secretaries , Principal Secretary to the Deputy Governor, Mohammed Adamu Lawan, as well as Senior Special Assistant among others.

Kadafur Lead govt officials to Menwara Festival 2024

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NDLEA Arrests Businessman at Enugu Airport for Ingesting 90 Wraps of Cocaine

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By: Michael Mike

Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a 50-year-old businessman, Osuoha Iheanacho, at the Akanu Ibiam International Airport, Enugu for ingesting 90 wraps of cocaine.

A press statement on Sunday by the spokesman of the anti-narcotics agency, Femi Babafemi said Osuoha was intercepted last Wednesday at the arrival hall of the Enugu airport during the inbound screening of passengers arriving from Addis Ababa, Ethiopia, on an Ethiopian airlines flight following months of intelligence and surveillance on him.

Babafemi said he was subsequently placed on excretion observation during which he egested 90 pellets of cocaine weighing 2.019 kilogrammes in seven excretions.

He said investigation revealed that the suspect who operates phone and accessories business in Lagos and Gabon, travelled by road from Gabon to Douala, Cameroon from where he took a flight to Addis Ababa where he swallowed the pellets of cocaine while in transit and thereafter continued his journey to Enugu with Lagos as his final destination.

He was said to have deliberately complicated his movement to distort traces of his travel history unknown to him that he has been on NDLEA watchlist for the past three months.

In his statement, Osuoha was said to have confessed that he desperately needed the money from the criminal drug trade to boost his declining phone and accessories business.

Babafemi said In another well-coordinated operation carried out by a Special Operations Unit of the agency last Thursday, head of a cocaine distribution cartel, 42-year-old Ndive Obinna was arrested along with five of his associates at Ago Palace Way in Okota, Isolo, Lagos with a total of 2.412 kilogrammes of cocaine recovered from them.

He noted that other members of the drug trafficking organisation arrested along Obinna include:Okeke Ifeoma who is the syndicate’s stash keeper; Ikechebelu Chibuzor; Okorie Onyedikachi; Okonkwo Nnabugo; and Okafor Anita.

In a related development, another drug syndicate operated by a Chinese man, 58-year-old Tianzhen Yen (alias Jackie) has been dismantled by NDLEA operatives following his arrest at his hotel in Ikeja area of Lagos. Officers of the Seme Special Area Command of the agency had last Thursday intercepted a 40-year-old suspect, Yakubu Mark in a commercial bus going to Ghana at the Gbaji checkpoint along Badagry-Seme expressway based on credible intelligence.

Babafemi said when he was searched, a total of 750 grammes of cocaine were found in his bag. A swift follow up operation was organized to trace and arrest the kingpin behind the trans-border drug trafficking syndicate, who turned out to be a Chinese citizen, Tianzhen Yen.

He was eventually traced to MC Hotel behind Alade market, Allen Avenue, Ikeja, Lagos. When his hotel room was searched, 4.3 grammes of cocaine; a gramme of methamphetamine; two electronic weighing scales; and Chinese National Identification Number Card, among other exhibits were recovered while he was arrested in the vicinity of the hotel.

At the Tincan seaport in Lagos, NDLEA operatives last Friday intercepted 92 parcels of Loud, a synthetic strain of cannabis with a combined weight of 23.25 kilogrammes concealed in two vehicles imported from Canada: a Nissan car and a GMC bus. The discovery was made during a joint examination of a container from Canada by NDLEA officers, men of the Nigeria Customs Service (NCS) and other stakeholders.

In Rivers state, NDLEA operatives at the Port Harcourt Ports complex, Onne last Thursday intercepted two containers of imported opioids during a joint examination with men of Customs Service and other security agencies.

He said a total of 168,000 bottles of codeine based syrup worth about N1.2 billion in street value were recovered from one of the containers while the second one contained 4.5 million pills of super royal tramadol 225mg valued at about N3.2 billion bringing the combined value of both the codeine and tramadol consignments to over N4.3 billion.

In Ekiti state, NDLEA operatives on Sunday 17th November arrested a 50-year-old physically challenged woman, Mustapha Boja, with 286 grammes of Colorado and Loud strains of cannabis at Araromi street, Ikere-Ekiti, while 64 kilogrammes of cannabis sativa recovered at Akinyele motor park, Ibadan, Oyo state last Thursday.

Not less than 1,200.5 kilogrammes of same psychoactive substance were seized during raids by NDLEA officers in parts of Edo state. At Utese forest in Ovia North East local government area, 463.5 kilogrammes was recovered last Thursday; while 507 kilogrammes was seized at a compound in Owan village, Ovia local government area where the duo of David Ederin, 60, and Afoje Frank, 24, were arrested on Friday 22nd November. Another suspect, Godwin Okhoya, 40, was nabbed with 230 kilogrammes of same substance at Okpuje, Owan West local government area.

In Kano, four suspects: Usman Sani, 25; Abdul Mohammed, 28; Bunu Ali, 27; and Umar Musa, 30, were last Tuesday arrested by NDLEA operatives at Gadar Tamburawa, Zaria- Kano road, with 100 blocks of cannabis weighing 45 kilogrammes while Ayuba Zaranda, 55, was nabbed with 124 kilogrammes cannabis at Pengana village, Toro local government area, Bauchi state.

Babafemi said with the same vigour, commands and formations of the agency across the country continued their War Against Drug Abuse, WADA, sensitization activities to schools, worship centres, work places and communities among others in the past week.

Meanwhile, while commending the officers and men of AIIA, SIU,Tincan, Onne, Seme, Ekiti, Oyo, Kano, Bauchi, and Edo commands of the agency for the arrests and seizures, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (Rtd) stated that their operational successes and those of their compatriots across the country especially their balanced approach to drug supply reduction and drug demand reduction efforts are well appreciated.

NDLEA Arrests Businessman at Enugu Airport for Ingesting 90 Wraps of Cocaine

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