News
Sustainable growth and building resilience in Africa require structural transformation – Economic Report on Africa (ERA 2023)
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)
News
Nigerian Embassy in Kuwait Issues Safety Advisory to Citizens Amid Regional Tensions
Nigerian Embassy in Kuwait Issues Safety Advisory to Citizens Amid Regional Tensions
By: Michael Mike
The Embassy of the Federal Republic of Nigeria in the State of Kuwait has urged Nigerian nationals in Kuwait and Bahrain to remain calm, vigilant, and compliant with host government ldirectives in light of prevailing regional developments.
In a circular dated March 1, 2026, and referenced NKT/GA/C/004/Vol. I, the Embassy — which holds concurrent accreditation to the Kingdom of Bahrain — advised citizens to strictly observe safety guidelines and official advisories issued by authorities in both countries.
The mission encouraged Nigerians to stay informed by monitoring credible local news outlets and official government announcements in Kuwait and Bahrain. It assured the community that it is closely tracking the situation and maintaining communication with leaders of Nigerian groups and associations in both countries.
To enhance real-time communication, the Embassy announced the creation of a dedicated mobile and WhatsApp line to ensure active engagement with nationals.
For further inquiries or assistance, Nigerians were advised to contact the Embassy via email at nigeriakuwait@yahoo.com or through the designated telephone and WhatsApp numbers provided by the mission.
The Embassy reaffirmed its commitment to the safety and welfare of all Nigerian citizens in its jurisdiction and pledged to continue providing timely updates as the situation evolves.
Nigerian Embassy in Kuwait Issues Safety Advisory to Citizens Amid Regional Tensions
News
Gov. Fintiri’s defection will boost APC’s chances of winning in 2027 – Dr Girei
Gov. Fintiri’s defection will boost APC’s chances of winning in 2027 – Dr Girei
Dr Salihu Bakari Girei, Gubernatorial aspirant under the platform All Progressives Congress (APC) in 2027 described the defection of Governor Ahmadu Fintiri to the ruling party as a welcome development for the APC in the state.
Girei said that his defection is coming at the right time to galvanise the party’s victory in 2027 General Elections at the national and sub national level.
Dr Girei who is one of the founding fathers of the APC in the state disclosed this in an interview with newsmen in Yola.
He said, Fintiri joined APC at the right time considering his outstanding performance in the state which he said was in line with President Tinubu’s transformation agenda.
He added that the defection would add value to the APC family and also help deliver dividends of democracy to the ordinary people that are yearning for good governance as well as to fast-track development.
He said Fintiri has performed credibly well, in line with his 10-point agenda for the state to justify the people’s trust in his leadership and administration.
Dr Girei further lauded President Bola Tinubu for his effort and strategy in addressing Nigeria’s challenges for and ensuring rapid development.
He said, “President Tinubu is very strategic in addressing Nigeria’s challenges and many now understood that Mr President meant well for this country and has turned the fortune of the country around for good.”
According to him, records have shown that the dollar has crashed, the economy stabilized, security improved, food is affordable and issues of strikes are no more among others.
Bakari-Girei said, all these are factors that naturally attract people joining the APC across the country for more development in the country.
He queried those saying that President Tinubu is turning the country into a one-party system, recalling that the PDP once had 30 governors and no one complained.
“Today people have decided to join APC because of many factors initiated by the President Tinubu administration that naturally attracted people to join APC and support Mr President.”
He pointed to President Tinubu’s history as governor of Lagos, where opposition platforms continued to function, as evidence of his commitment to multi-party democracy.
He also appreciated the foresight of the President for appointing Malam Nuhu Ribadu, National Security Adviser who has invested much in APC in the state.
He further urged unity and understanding of all APC stakeholders in the state for the progress and success of the party at all levels.
Gov. Fintiri’s defection will boost APC’s chances of winning in 2027 – Dr Girei
News
Community Court of Justice, ECOWAS Moves to Boost Enforcement of Judgments with High-Level Talks in Republic of Guinea
Community Court of Justice, ECOWAS Moves to Boost Enforcement of Judgments with High-Level Talks in Republic of Guinea
By: Michael Mike
The Community Court of Justice, ECOWAS will hold a high-level bilateral meeting in the Republic of Guinea from March 2 to 4, 2026, as part of efforts to strengthen the enforcement of its judgments across Member States.
The three-day engagement, organised in commemoration of the 50th anniversary of the Economic Community of West African States, is expected to bring together the Court’s delegation, Guinea’s Competent National Authority (CNA), senior government officials, and representatives of civil society to address persistent challenges in implementing the Court’s rulings.
At the heart of the meeting is the push to close the gap between judicial decisions and their execution at the national level. While the ECOWAS Court continues to deliver landmark judgments on human rights, governance, and community law, enforcement remains a critical concern in several jurisdictions. The Guinea dialogue is aimed at building a more effective, coordinated, and transparent enforcement framework.
Discussions will focus on practical strategies to improve compliance rates, streamline procedures, and strengthen collaboration between national institutions and the regional court. Participants are expected to review existing bottlenecks, share best practices, and identify sustainable solutions that can enhance uniformity in enforcement mechanisms across the sub-region.
The programme will include a dedicated forum examining the current status of enforcement of the Court’s judgments in Guinea, alongside presentations on the Court’s enforcement processes and the national legal landscape. Civil society organisations will also engage directly with the Court in a bilateral dialogue designed to promote accountability and inclusive participation.
Beyond the technical sessions, the Court’s delegation will pay courtesy visits to key government figures, including the Minister in charge of ECOWAS Affairs, the Minister of Justice, the Minister of Finance, the President of the Supreme Court, and the Speaker of Parliament. Meetings are also scheduled with the Chairperson of the Human Rights Commission and the President of the Bar Association.
The delegation will be led by the President of the Court, Ricardo Cláudio Monteiro Gonçalves, and will include Vice-President Sengu Mohamed Koroma, Honourable Justice Gberi-Bè Ouattara, as well as directors and other officials.
Similar bilateral meetings have previously taken place in the Republic of Sierra Leone and the Federal Republic of Nigeria, reflecting the Court’s broader strategy to institutionalise cooperation and reinforce the authority of its judgments throughout West Africa.
As ECOWAS marks five decades of regional integration, the Guinea engagement signals a renewed determination to ensure that the decisions of its judicial arm are not only pronounced but fully implemented—strengthening the rule of law and deepening trust in regional justice systems.
Community Court of Justice, ECOWAS Moves to Boost Enforcement of Judgments with High-Level Talks in Republic of Guinea
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News11 months agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
