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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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Obasanjo Unveils Bold Blueprint for Africa’s Security Overhaul, Warns Against New Scramble

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Obasanjo Unveils Bold Blueprint for Africa’s Security Overhaul, Warns Against New Scramble

By: Michael Mike

Former Nigerian President Olusegun Obasanjo has issued a sweeping and urgent call for a radical overhaul of Africa’s security architecture, warning that the continent risks deeper instability and renewed external domination unless it urgently redefines its approach to security, governance, and intelligence.

Speaking at the third Mashariki Cooperation Conference III (MCC III), Obasanjo challenged Africa’s intelligence chiefs and security leaders to abandon outdated frameworks and embrace a people-focused, technologically independent, and accountable system capable of confronting modern threats.

Delivering a hard-hitting address on “Emerging Geopolitical Dynamics and Africa’s Security Architecture,” the elder statesman argued that Africa’s persistent conflicts are not accidental but stem from “specific, identifiable failures of leadership,” compounded by what he described as intensifying external manipulation.

“We are witnessing the fracturing of the post-1945 multilateral order,” Obasanjo said, pointing to the global fallout from the Russian invasion of Ukraine and contrasting international responses to crises in regions such as Gaza and the Sahel. According to him, these inconsistencies expose a global system that applies its rules selectively—often at Africa’s expense.

A Continent Under Pressure

Obasanjo painted a stark picture of a continent caught in a renewed geopolitical contest, warning of a “new scramble for Africa.” He cited expanding foreign influence through initiatives like China’s Belt and Road Initiative, the growing footprint of Russian-linked security actors across the Sahel and the Horn of Africa, and the vacuum left by the withdrawal of Western forces from key conflict zones.

These developments, he said, have coincided with a surge in terrorism, violent extremism, and an alarming wave of military takeovers across the continent since 2020—what he described as a “coup epidemic.”

Five Pillars for a New Security Order

In response, Obasanjo outlined five concrete propositions aimed at reshaping Africa’s security framework:
• Human-centred security: Prioritising the safety and welfare of citizens over elite interests.
• Continental solidarity: Strengthening joint mechanisms such as the African Standby Force and early warning systems.
• Disrupting illicit financing: Empowering intelligence agencies to tackle financial flows that sustain insecurity.
• Technological sovereignty: Building African capacity in artificial intelligence, cyber defence, and drone warfare.
• Accountable governance: Establishing transparent leadership as the foundation of lasting security.

He stressed that without credible governance, no military or intelligence strategy can succeed.

Intelligence at the Core

Central to Obasanjo’s message was a forceful critique of Africa’s use of intelligence. He described intelligence as “indispensable to conflict prevention” but “woefully underused,” citing missed warning signs in past crises across Liberia, Sierra Leone, Burundi, the Democratic Republic of Congo, and Sudan.

He urged the creation of a truly integrated continental intelligence network, beginning with stronger regional cooperation, and insisted that effectiveness must be anchored in professionalism and civilian oversight.

“Intelligence services that operate with integrity… and are subordinate to civilian authority are not weaker—they are stronger,” he declared.

Leadership Under Scrutiny

In a rare moment of reflection, Obasanjo drew from his own involvement in major African peace efforts, including Nigeria-led interventions under ECOMOG in Liberia and Sierra Leone, and mediation roles in Burundi and Zimbabwe. He argued that successful conflict resolution has always depended on “accurate intelligence, courageous honesty, and selfless leadership.”

He also introduced his “Obasanjo 55+20 Leadership Framework,” a structured model outlining 55 measurable leadership attributes and 20 core values. At its heart, he said, lies “courageous honesty”—the willingness of leaders to confront uncomfortable truths.

A Final Warning

Addressing an audience that included Noordin Mohamed Haji and intelligence heads from across Africa, Obasanjo closed with a stark warning and a challenge.

At nearly 90, he said his decades of experience have shown both Africa’s promise and its recurring failures.

“Africa’s conflicts are not inevitable,” he said. “They are the product of leadership choices. What is required now is the will—and the courage and audacity—to choose differently.”

His message was unmistakable: without decisive reforms, Africa risks remaining a battleground for external powers; with them, it has a chance to secure its future on its own terms.

Obasanjo Unveils Bold Blueprint for Africa’s Security Overhaul, Warns Against New Scramble

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Nigeria Woos Diaspora Investors in Silicon Valley, Says “Ready for Business”

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Nigeria Woos Diaspora Investors in Silicon Valley, Says “Ready for Business”

By: Michael Mike

Nigeria has intensified its push to attract diaspora-driven investments, with the Chairman/CEO of the Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri-Erewa, declaring that the country is fully open and prepared for business.

Speaking in Silicon Valley, California, at a high-level pre-event dinner ahead of the African Diaspora Investment Symposium 2026 (ADIS26), Dabiri-Erewa assured global investors—particularly Nigerians in the diaspora—that Nigeria offers vast and untapped investment opportunities across sectors.

The event, hosted at Santa Clara University, brought together top African and global stakeholders under the theme: “Bridging Africa & Silicon Valley: Shaping the Future of Innovation, Investment, and Inclusive Growth.”

Dabiri-Erewa said Nigeria is deliberately positioning its diaspora as a strategic economic force, leveraging their expertise, capital, and global networks to accelerate national development.

She highlighted ongoing reforms and investment-friendly policies under the administration of Bola Ahmed Tinubu, noting that the government is creating an enabling environment for diaspora participation in critical sectors, including technology, infrastructure, and entrepreneurship.

According to her, the focus is shifting from remittances to structured, long-term investments capable of driving sustainable economic growth and innovation.

“The Nigerian diaspora remains one of our strongest assets,” she said, stressing that deeper engagement would unlock transformative opportunities for both the country and its global citizens.

The NIDCOM boss also commended Almaz Negash, founder of the African Diaspora Network, for convening the platform and fostering cross-continental partnerships.

Beyond the dinner, Dabiri-Erewa held a working session with Nigerian professionals in the United States, many of whom expressed readiness to collaborate with NIDCOM on initiatives aimed at national development.

The engagements attracted a diverse mix of African and American leaders, innovators, investors, and policymakers, reinforcing a growing consensus on the need to build stronger bridges between Africa and the global technology ecosystem.

The gathering underscored a shared commitment to moving beyond traditional remittance flows toward impactful investments that can shape Africa’s economic future.

Nigeria Woos Diaspora Investors in Silicon Valley, Says “Ready for Business”

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Zulum Cracks Down on Insurgent Support Networks, Backs Airstrikes on ‘Notorious’ Border Market

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Zulum Cracks Down on Insurgent Support Networks, Backs Airstrikes on ‘Notorious’ Border Market

By: Michael Mike

Borno State Governor, Babagana Zulum, has issued a stern warning to residents against aiding or providing any form of support to Boko Haram, as intensified military operations target suspected logistics hubs in the North-East.

The warning comes in the wake of recent air operations by the Operation Hadin Kai, which struck the Jilli general area in Gubio Local Government Area on April 11, 2026.

Jilli, a border community linking Borno and Yobe states, has come under scrutiny as a suspected conduit for insurgent activities. According to the governor, the Jilli market—alongside the nearby Gazabure market—had been officially shut down by the state government five years ago due to security concerns.

“I have been properly briefed on the airstrike carried out on Jilli market,” Zulum said, describing the location as a “notorious hub” allegedly exploited by insurgents and their supply chains.

He revealed ongoing high-level consultations with the Yobe State Government and military leadership, underscoring a coordinated regional approach to tackling insurgency and preventing the resurgence of rebel strongholds along state borders.

Zulum emphasized that any decision to reopen markets or resettle communities in conflict-affected zones is taken only after thorough security assessments and in collaboration with the military and other agencies.

Reaffirming his administration’s stance, the governor said protecting civilians remains paramount, while also stressing that individuals found aiding insurgents—whether through shelter, information, or logistics—would face serious consequences.

He urged residents to remain vigilant and support security forces by sharing credible intelligence, noting that community cooperation is critical to dismantling insurgent networks and restoring lasting peace in the region.

Zulum Cracks Down on Insurgent Support Networks, Backs Airstrikes on ‘Notorious’ Border Market

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