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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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Gov. Uba Sani visits scene of Kurmin Wali attack,vows to free captives

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Gov. Uba Sani visits scene of Kurmin Wali attack,vows to free captives

By: Zagazola Makama

Gov. Uba Sani of Kaduna State on Wednesday visited Kurmin Wali village in Kajuru Local Government Area, scene of a recent bandit attack, where he admitted the incident and pledged decisive action to secure the release of those abducted.

The governor, who commiserated with the victims and their families, described the Jan. 18 attack on three churches in the community as painful and unacceptable, assuring residents that his administration would intensify efforts to restore lasting peace in the area.

Sani said the state government would work closely with the military and other security stakeholders to ensure the safe return of all captives and prevent a recurrence of such attacks.

He appealed to the Minister of Defence, Gen. Christopher Musa (rtd), a native of Kaduna State, to support the establishment of a military base in the area to enhance security and deter criminal elements.

The governor also announced plans to construct an access road to Kurmin Wali, establish a Primary Health Care centre, and provide other social amenities to improve living conditions and strengthen government presence in the community.

Addressing international and local journalists who accompanied him to the village, Sani said his administration remained committed to protecting lives and property across Kaduna State.

Residents of Kurmin Wali thanked the governor for the visit and pledged their cooperation with the government to help secure the release of the abducted persons and sustain peace in the area.

Gov. Uba Sani visits scene of Kurmin Wali attack,vows to free captives

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The Emir of Tikau urges the new Emir of Gamawa to carry his people along for the development of the emirate

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The Emir of Tikau urges the new Emir of Gamawa to carry his people along for the development of the emirate

By: Yahaya Wakili

His Royal Highness the Emir of Tikau in Yobe State, Alhaji Abubakar Muhammadu Ibn Grema II, has called on the new emir of Gamawa in Bauchi State, Alhaji Adamu Abdulkadir Adamu, to carry everybody along in the emirate for the development of the nation.

The royal father made the appeal today at his place in Sabon Garin Nangere while receiving the new emir of Gamawa in Bauchi state, His Royal Highness, Alhaji Adamu Abdulkadir Adamu. He said the creation of emirates is a great development for the nation.

“As we know, there was a very strong relationship between the Gamawa and Tikau emirates, and these will continue existing, and we share a boundary with them, and there was something that was raised between us and them, and anything that affected them affected us directly.” The Royal Father said.

According to Mai Tikau, the most cases we have are the conflicts between the farmers and the herders from time to time. Sometimes they will enter our territory, and sometimes we will enter their own, adding that, for the issue of the border, we hope with your coming as the new emir of Gamawa, this problem will be solved.

Speaking earlier, the emir of Gamawa, Alhaji Adamu Abdulkadir Adamu, said they were at Tikau Place to express their appreciation to the royal father, the emir of Tikau, for his support given to us since we emerged as the new emir of Gamawa.

He said, “Immediately His Excellency, the Executive Governor of Bauchi State, Hon. Bala Abdulkadir Muhammad Kaura, created this emirate. Mai Tikau is the first person who sent a delegation to Gamawa to congratulate us.”

The Emir of Tikau urges the new Emir of Gamawa to carry his people along for the development of the emirate

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Former Minister visits Gimba Memorial School in Potiskum

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Former Minister visits Gimba Memorial School in Potiskum

By: Yahaya Wakili

The former Minister of Police Affairs and Leader of the African Democratic Congress (ADC) in Yobe State, Alhaji Adamu Maina Waziri, has paid a surprise visit to Hafsatu Gimba Ahmed Memorial School in Potiskum, where he was warmly received by the students and the school management.

During the visit, the former minister distributed educational materials and foodstuff to the pupils and commended the school’s leadership for its commitment to quality education.

Adamu Waziri moved from classroom to classroom, where he engaged directly with students in a cheerful and fatherly manner and charged them to take their studies seriously, noting the importance of reading as a key to personal and national development.

He commended the proprietor of the school, Dr. Hassan Gimba Ahmed, the publisher/editor-in-chief of NEPTUNE PRIME, for his dedication to education and community service as a whole, adding that what Dr. Hassan Gimba has done here is not just building a school but building a legacy.

Earlier, the proprietor of the school, Dr. Hassan Gimba Ahmed, ably represented by the school’s management, thanked Alhaji Adamu Maina Waziri for his generosity and continued interest in youth development and described the visit as a major encouragement to the school and the community hosting it.

“This gesture underscores Adamu Maina Waziri’s ongoing commitment to supporting education and nurturing the next generation of Nigerian leaders even beyond his years of public service.

The highlight of the visit concluded with a group photograph and heartfelt appreciation from students, many of whom said they were inspired by the former minister’s humility and kindness.

The former minister of police affairs was accompanied by Dr. Zainab Boni Haruna, Engr. Abubakar Adamu Waziri (alias Cargo), Hon. Umar Khali, ADC state party chairman, Hon. Lawan Mammadu Kori, and Dr. Mamu Muhammad, among others.

Former Minister visits Gimba Memorial School in Potiskum.

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