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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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Governor Buni speaks on primary elections where consensus failed

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Governor Buni speaks on primary elections where consensus failed

By: Yahaya Wakili

Governor Mai Mala Buni of Yobe State has revealed that the All Progressives Congress (APC) is open to a fair, credible, and transparent primary election if there is no general agreement on the consensus mode.

Governor Buni started this while commenting on the crisis rocking the party over the governor candidate for the 2027 general election. He said the party has not foreclosed direct election to produce its candidates for the contestable offices for the 2027 general election.

According to him, the party is still working on dialogue; “we are talking to each other and reaching out to the stakeholders, including the aspirants, to arrive at an amicable solution.”

“As the governor of Yobe state, I will be the happiest person to see that the state and party are peaceful and united, noting that we remain citizens of Yobe state and members of APC.

“My expectation is to see us more united and collectively working for our candidates to win the 2027 general elections,” Governor Buni said.

Governor Buni further said, “As a founding member, former secretary, and national chairman of the All Progressives Congress (APC), the unity and progress of the party mean so much to me personally; therefore, I will continue to support and protect the ideals of the party to remain Nigeria’s ruling political party.”

He expressed optimism that the aspirations for public offices in the state are driven by the desire to serve the people for a better and improved life.

Governor Buni speaks on primary elections where consensus failed

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Troops Arrest Suspected Kidnapper in Kaduna State, Recover Phone and Cash

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Troops Arrest Suspected Kidnapper in Kaduna State, Recover Phone and Cash

By: Zagazola Makama

Troops of Sector 7, Operation Enduring Peace (OPEP), in collaboration with the Civilian Joint Task Force (CJTF), have arrested a suspected kidnapper in Kamuru village in Zangon Kataf Local Government Area of Kaduna State.

Security sources said the arrest was made at about 0330 hours on May 12 during a coordinated operation in the area.

The suspect, identified as Mr. Husaini Jibrin, 45, was reportedly apprehended at Kamuru village over alleged involvement in a kidnapping incident that occurred in Angwan Ali community on April 26, 2026, within the same local government area.

According to the sources, the suspect is believed to be linked to the planning and execution of the abduction, which had triggered security concerns in surrounding communities at the time.

Items recovered from the suspect include one mobile phone and the sum of ₦10,000 in cash.

The military said the suspect is currently in custody and undergoing interrogation as part of ongoing investigations aimed at dismantling kidnapping networks operating in the region.

Authorities added that troops have intensified surveillance and patrol operations across vulnerable communities in southern Kaduna to curb criminal activities and improve public safety.

Operation Enduring Peace continues to conduct joint operations with local security outfits and community-based structures as part of efforts to address insecurity in affected areas.

Troops Arrest Suspected Kidnapper in Kaduna State, Recover Phone and Cash

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Troops Repel Attack in Plateau State, Two Residents Killed — Military Launches Manhunt

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Troops Repel Attack in Plateau State, Two Residents Killed — Military Launches Manhunt

By: Zagazola Makama

Troops of Sector 6, Operation Enduring Peace (OPEP), have repelled an armed attack on an isolated settlement in Vwang Kagot community in Jos South Local Government Area of Plateau State, in an incident that left two civilians dead.

Security sources said the troops responded swiftly at about 0130 hours on May 12 following reports of an attack by suspected armed assailants on the rural community.

The attackers, reportedly described as suspected armed herdsmen, stormed the settlement and engaged in violent activities before the arrival of security forces.

Upon intervention, troops in collaboration with Keystone Kuru Division forced the assailants to withdraw from the area.

However, the attackers had already killed two residents identified as Ngo Shetu Badung, 78, and Mr. Danjuma Badung, 52, before fleeing the scene.

Following the incident, troops launched clearance operations in the general area and are currently trailing the fleeing suspects.

Military authorities said additional patrols and surveillance measures have been intensified to prevent further attacks and reassure residents of their safety.

Operation Enduring Peace noted that it remains committed to stabilising vulnerable communities across Plateau State and ensuring that perpetrators of violent attacks are brought to justice.

Local security stakeholders have also continued engagements with community leaders to strengthen early warning systems and improve response to emerging threats in rural settlements.

Troops Repel Attack in Plateau State, Two Residents Killed — Military Launches Manhunt

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