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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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NTAC DG Celebrates Mallam Nuhu Ribadu at 65, Commends His National Service Credentials

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NTAC DG Celebrates Mallam Nuhu Ribadu at 65, Commends His National Service Credentials

By: Michael Mike

Director General of the Nigerian Technical Aid Corps (NTAC), Rt.Hon. Yusuf Buba Yakub has commended the National Security Adviser, Mallam Nuhu Ribadu for his trailblazing leadership as the pioneer Chairman of the Economic and Financial Crimes Commission (EFCC) and for his current role as the National Security Adviser.

The NTAC boss , who made the commendations on Saturday in Abuja, while celebrating the foremost lawyer and public servant, who turned 65 on Friday, also lauded Ribadu for steering Nigeria through complex security challenges with courage and integrity, stating that this has set an enduring example for all public officers to emulate.

In a message he personally signed and made available the media in Abuja,Buba emphasized the great roles Mallam Ribadu has continued to play in the evolution of the Nigerian state.

He said: “I have the honour to refer to the above subject-matter and avail myself of the opportunity of this auspicious moment to celebrate you, Dear Leader and Brother, on the occasion of your birthday celebration this year.

“Yesterday again marked yet another milestone of wisdom, dedication, and service as you celebrated 65 years of life, many of which you have invested in the service of our nation and humanity at large.

“Without the risk of reciting the obvious, Sir,
your trailblazing leadership as the pioneer Chairman of the Economic and Financial Crimes Commission (EFCC), where you transformed the fight against corruption, and now as the National Security Adviser, steering Nigeria through complex security challenges with courage and integrity, has set an enduring example for all of us to emulate.

“Your legacy of principled reform, selfless service, and steadfast patriotism continues to inspire countless Nigerians, especially the young professionals and Volunteers we work with every day. May Allah (SWT) continue to strengthen you for greater wisdom and performance as you age in wealth and wellness.

“For myself, my dear family and on behalf of the Management and staff of the Nigerian Technical Aid Corps (NTAC), where with your kind support I have served as DG these past years, I extend heartfelt congratulations to you, Sir, on this remarkable milestone and solemn achievement.

“May Allah grant you good health, long life, and the special wisdom to keep guiding our nation toward peace, security, and prosperity.

“We pray that the years ahead bring you abundant joy, fulfillment, and the satisfaction of seeing the fruits of your tireless efforts in many more years of blessings.”

NTAC DG Celebrates Mallam Nuhu Ribadu at 65, Commends His National Service Credentials

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Jihadist reportedly overrun gendarmerie camp in niger, kill 21 officers

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Jihadist reportedly overrun gendarmerie camp in niger, kill 21 officers

By: Zagazola MAkama

Suspected jihadists on Friday attacked and seized control of the Gendarmerie Camp in Garbougna, Niger Republic, killing more than 21 gendarmes, according to security sources.

The attackers, believed to be affiliated with Sahel-based extremist groups, stormed the facility in large numbers, overwhelming security personnel during the early morning assault.

Sources told Zagazola Makama that the insurgents also carted away several vehicles, along with a significant quantity of arms and ammunition stored at the camp.

“The situation is dire. The Garbougna gendarmerie post was overrun, and dozens of weapons and vehicles were taken. The number of casualties is still being compiled, but more than 21 gendarmes are feared killed,” one security source said.

The attack underscores the escalating insecurity in parts of Niger, where jihadist groups linked to al-Qaida and the Islamic State continue to mount coordinated assaults on security formations and rural communities.

Niger’s military authorities have not yet issued an official statement regarding the incident as at the time of filing this report.

Zagazola recalls that the tri-border region spanning Niger, Mali and Burkina Faso has witnessed intensified jihadist activities in recent months, with security forces increasingly targeted in ambushes and camp raids.

Jihadist reportedly overrun gendarmerie camp in niger, kill 21 officers

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Tuggar Appeals to Broadcaster to Promote Nigeria’s Information Sovereignty

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Tuggar Appeals to Broadcaster to Promote Nigeria’s Information Sovereignty

By: Michael Mike

Minister of Foreign Affairs, Ambassador Yusuf Tuggar has emphasized the critical role of independent broadcasters in promoting the country’s information sovereignty, national cohesion, and digital security. 

Represented by the Ministry of Foreign Affairs spokesperson, Kimiebi Ebienfa, at the Independent Broadcasters Association of Nigeria (IBAN) 2025 Annual General Meeting and Conference, on Thursday, Tuggar stressed that the broadcast sector is a key player in shaping Nigeria’s global narrative and ensuring internal stability.

The event’s theme, “Broadcasting for Information Sovereignty, National Cohesion and Digital Security,” according to the minister aligns with the nation’s foreign policy objectives.

He urged broadcasters to produce locally relevant content, counter disinformation, and bridge ethnic and cultural divides, adding that a united Nigeria commands greater international respect.

He also highlighted the need for robust digital security measures to protect against cyber threats and misinformation campaigns, warning that breaches in the sector could undermine national security.

He called for stronger collaboration between the government and media to safeguard Nigeria’s information ecosystem and project a positive global image.

The conference aimed to address the evolving challenges of broadcasting in a digital age.

Tuggar Appeals to Broadcaster to Promote Nigeria’s Information Sovereignty

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