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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)
Police recover 15 rustled cows in Zamfara
By: Zagazola Makama
The Police Command in Zamfara says its operatives have recovered 15 cows rustled by armed bandits during an attack on Gidan Kwagiri village in Damba District of Gusau Local Government Area.
Security sources said the incident occurred at about 1:30 a.m. on Feb. 15 when the bandits invaded the community and carted away cows and sheep belonging to residents.
According to the sources, upon receiving the report, the Divisional Police Officer (DPO) in charge of Damba Division mobilised personnel alongside patrol teams from the Department of Operations to pursue the attackers.
The team was said to have successfully recovered 15 cows, which were subsequently handed over to their owners.
Efforts, however, are ongoing to track down the suspects and recover the remaining rustled animals, while security patrols have been intensified in the area to forestall further attacks.
Police recover 15 rustled cows in Zamfara
Operation Whirl Stroke arrests cow rustling suspects fuelling violence in Benue
By: Zagazola Makama
Troops of the Joint Task Force (JTF) Operation WHIRL STROKE have arrested suspects linked to cattle rustling in Benue State, following two separate security incidents in Guma Local Government Area.
Security sources said that on Feb. 15, troops responded to an attack on herders at Amua Village, located between Daudu and Umenger/Ukpiam. The attack left one herder dead, while another sustained gunshot wounds and was evacuated to Keana in neighbouring Nasarawa State for urgent medical attention. The remains of the deceased were handed over to community representatives for burial according to local customs.
In a related operation on the same day, troops stationed at Ukpiam acted on intelligence provided by vigilant youths concerning suspected cattle rustling. The troops arrested a 23-year-old suspect, Terngu Aondohemba, who reportedly confessed to killing two cattle belonging to Fulani herders. He also implicated two accomplices, Akpehe and Ashinge, who are still at large.
Further investigation led security operatives to Korje Village in Daudu, where Mrs. Mercy Onban, wife of the alleged buyer of the stolen meat, was apprehended along with the recovered meat exhibits. Both suspects remain in custody pending further investigation.
The Force Commander of the Joint Task Force, Major General Moses Gara, condemned the attacks and criminality, affirming the commitment of Operation WHIRL STROKE to halting killings and cattle rustling in the Joint Operations Area.
He urged community leaders to strengthen collaboration with security agencies, stressing that timely intelligence sharing is critical to restoring lasting peace. Major General Gara also reassured law-abiding residents of the strong resolve of the Joint Task Force to protect lives and property across the region.
Operation Whirl Stroke arrests cow rustling suspects fuelling violence in Benue
Federal Government arraigns Nasir El-Rufai over alleged phone interception
By: Zagazola Makama
The Federal Government has charged former Kaduna State Governor, Mallam Nasir El-Rufai, before the Federal High Court, Abuja, over alleged unlawful interception of phone communications belonging to the National Security Adviser, Nuhu Ribadu.
Court documents showed that El-Rufai, 65, appeared as a guest on Arise TV’s Prime Time Programme on Feb. 13, 2026, where he reportedly admitted to involvement in the interception and to knowing individuals who carried out the act without reporting them to security agencies.
The charges, filed under TABU DET CR/99/2026, include: Count One, Allegedly admitting during the television interview that he and his associates unlawfully intercepted the phone communications of the National Security Adviser, contrary to Section 12 (1) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.
Count Two, Allegedly stating that he knew individuals who unlawfully intercepted the same communications but failed to report them, in violation of Section 27(b) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024. Count Three, Allegedly using technical systems to compromise public safety and national security, and instilling apprehension among Nigerians, in breach of Section 131(2) of the Nigerian Communications Act, 2003.
The case, filed by a team of Federal Government lawyers led by ME Ernest, OM Owan, UM Bulla, CS Eze, and VE G. Orubor, is set to proceed with investigations and trial proceedings.
Authorities said the matter falls under the jurisdiction of the Abuja Judicial Division of the Federal High Court, where the accused will be required to respond to the charges.
The trial is expected to attract significant public attention given the high-profile nature of the accused and the sensitive security issues involved.
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