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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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DSS rescues kidnapped police officer after three months in captivity

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DSS rescues kidnapped police officer after three months in captivity

By: Zagazola Makama

The Department of State Services (DSS) has rescued a police officer, Ibrahim Muhammad, who spent three months in captivity after being kidnapped by armed men in Patigi, Kwara State.

Muhammad, attached to the Patigi Division, was abducted on Aug. 10, 2025.
Zagazola Makama report that the state police command was notified of his rescue by the DSS at about 5:00 p.m. on Nov. 9.

According to sources, the officer was found in a forest, where his abductors had abandoned him.

The sources confirmed that Muhammad has been handed over to the command by the DSS and is currently in stable condition.

“He is being debriefed as part of further investigation,” the sources stated.

The police did not confirm whether ransom was paid or if any arrest had been made in connection with the abduction. However, the command assured that efforts were ongoing to track down the perpetrators.

The rescue has brought relief to the command and the family of the officer, who had been missing for more than 90 days.

DSS rescues kidnapped police officer after three months in captivity

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ADC L/ship crisis: Adamawa Court Adjourns to Nov 20 for hearing

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ADC L/ship crisis: Adamawa Court Adjourns to Nov 20 for hearing

Adamawa State High Court IX adjourned the case of African Democratic Party (ADC) to Nov. 20 for hearing, a suit filed by Yohanna Kambile and Zubairu Ishaq, Adamawa ADC’s chairman and secretary respectively challenged their removal from office unconstitutionally.

Kambile who challenged: Amb.Omar Suleiman, Chairman Coalition Adamawa stakeholders; Sadiq Dasin, Chairman Transition Electoral/Congress Commitee; Malam Saidu Komsiri, State Interim Chairman and his Led Executive Committee members.

Others are: Babachir Lawan, National Vice Chairman North East; Sen. David Mark, ADC National Chairman and his Led National Executive Committee Members; National Working Committee and the ADC.

Yakubu philimon SAN, counsel of the plaintiffs said, the removal was done without recourse to the provisions of the Constitution of the party.

He said they made it clear to the courts that the defendants should show cause, and the court was inclined to take in all the applications together.

“And ordered defendants to file their statement of defense in the main case, so that both the primary objection and the statement of defense should take him on the next agenda”, he said.

According to him the 20th will be for hearing of every application and also the main suit.

The Counsel for the defendants, Dr Emem Ibrahim-Effiong, asked the Court for three days to enable them to file their response to suit the merits without delay.

He said, the case is a political matter that needs to be addressed internally before coming to the Court.

The presiding judge, Justice Benjamin Manji, granted the three days and adjourned the case to November 20th for further hearing.

ADC L/ship crisis: Adamawa Court Adjourns to Nov 20 for hearing

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Persistent Dedication: China’s 15th Five-Year Plan to Continue the Development Miracle

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Persistent Dedication: China’s 15th Five-Year Plan to Continue the Development Miracle

By: Michael Mike

A foreign head of state used to tell Chinese President Xi Jinping, “China has a major advantage, which is always formulating various plans and ensuring they are fully implemented.” One of the most representative examples he noted is the Five-Year Plan for National Economic and Social Development. President Xi Jingping emphasized that the formulation and implementation of these well-designed five-year plans reflect important experience on governance of the Communist Party of China (CPC) and represent a significant political advantage of socialism with Chinese characteristics.

In October, during the Fourth Plenary Session of the 20th Central Committee of the CPC in Beijing, the Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development was adopted. Once reviewed and approved next year by the National People’s Congress, the plan will become the 15th Five-Year Plan since the founding of the People’s Republic of China, providing top-level design and strategic guidance for China’s economic and social development over the next five years and outlining a dynamic blueprint that captures the momentum of the times.

Since its founding in 1949, the People’s Republic of China has successfully implemented 14 Five-Year Plans spanning more than seven decades. Through the sustained efforts of successive generations, the country has steadily transformed itself from a poor and backward nation into the world’s second-largest economy and largest manufacturing hub. Throughout this period, Chinese society has maintained enduring harmony and stability, with its people living and working in peace and contentment and its per capita GDP now exceeding $13,000. These achievements exemplify what has been termed the “Two Miracles” — rapid economic growth coupled with long-term social stability — a phenomenon rarely seen elsewhere in the world. Central to this success is the distinctive Chinese approach to Five-Year Planning.

During the 14th Five-Year Plan period, China saw its economic and technological strength as well as its comprehensive national strength leap to a new level, and Chinese modernization made solid new strides. China’s economic strength rose substantially, its global influence was further enhanced, and its scientific and technological capabilities gained global attention. In 2024, China’s GDP reached 18.9 trillion USD (based on the average annual exchange rate), firmly maintaining its position as the world’s second-largest economy. China’s annual contribution to global economic growth remains around 30%, making it one of the most stable and reliable sources of global economic development, fully demonstrating the resilience and vitality of a major economy, and becoming one of the fastest-growing countries in terms of innovation capacity.

At the 20th National Congress of the Communist Party of China, the goal was set to basically achieve socialist modernization from 2020 to 2035. The 14th Five-Year Plan period (2021–2025), representing the first phase of this timeline, has achieved a strong start. The subsequent period from 2026 to 2030, which falls under the 15th Five-Year Plan, will be a crucial stage for consolidating the foundation and achieving all-out progress to basically achieve socialist modernization by 2035. As such, it will serve as a key link between the past and the future. A well-formulated and effectively implemented 15th Five-Year Plan will lay a more solid foundation for reaching this goal. The 15th Five-Year Plan will continue to focus on promoting high-quality development as its central theme and set out the guiding principles, major objectives, strategic tasks, and significant measures for economic and social development over the next five years, thereby drawing a grand blueprint for economic and social development.

Looking ahead, China’s development prospects are bright. By leveraging the strengths of socialism with Chinese characteristics, China’s enormous market, its complete industrial system, and its abundant human resources and under the strong leadership of the CPC, the Chinese people will pool their strength and turn this grand blueprint into reality through sustained and determined efforts.

Formulating and implementing Five-Year Plans with Chinese characteristics not only injects sustained momentum and stability into China’s own development, but also offers a new governance paradigm for many Global South countries that have been exploring modernization—namely, a “long-termism” development approach that is self-reliant and sustainable. Chinese modernization will provide important references and practical opportunities for Nigeria and other African countries to achieve economic transformation, advance industrialization, and enhance self-reliant development capacity. Within framework of the Forum on China-Africa Cooperation (FOCAC) and of the Belt and Road Initiative (BRI), China is willing to strengthen governance experience-sharing and development strategy alignment with Nigeria, deepen practical cooperation between the two countries across various fields. The two countries will work together to implement zero-tariff policies through negotiation and signing of joint development economic partnership agreements, therefore enabling Nigeria to unlock its development potential, strengthen its endogenous driving force, and promote the building of a high-level China-Nigeria community with a shared future.

Persistent Dedication: China’s 15th Five-Year Plan to Continue the Development Miracle

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