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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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Inclusive Investment in Vulnerable Women Critical to Nigeria’s $1tn Economy Goal – Uzoka-Anite

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Inclusive Investment in Vulnerable Women Critical to Nigeria’s $1tn Economy Goal – Uzoka-Anite

By: Michael Mike

Nigeria’s ambition to build a one-trillion-dollar economy will remain incomplete without deliberate investment in vulnerable women and girls, Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, has said.

The minister stated this on Tuesday in Abuja during a symposium organised to commemorate the 2026 edition of International Women’s Day and Women’s Month, where stakeholders called for stronger policies to address the challenges facing women with special needs across the country.

Speaking at the event themed “Rights, Justice, Action for Women & Girls With Special Needs in Nigeria: Exploring Strategies & Approaches for Acceleration and Impacts,” Uzoka-Anite stressed that targeted support for vulnerable women is not merely a social welfare responsibility but a strategic economic investment.

According to her, women living with HIV, persons with disabilities, elderly women and internally displaced persons remain among the most excluded groups in development planning despite their potential to contribute significantly to economic growth.

She explained that the administration of President Bola Ahmed Tinubu is shifting Nigeria’s public finance framework from traditional expenditure-based budgeting to investment-driven planning aimed at producing measurable economic outcomes.

The minister said the proposed National Development Plan for 2026–2030 would prioritise inclusive growth as Nigeria works toward building a $1 trillion economy.

Uzoka-Anite noted that when vulnerable women receive economic opportunities and protection from violence, the impact extends beyond individuals to families and communities.

“When an internally displaced woman receives livelihood support and security, she does not remain dependent. She becomes a trader, an entrepreneur and a pillar for rebuilding her family and community,” she said.

She added that inclusive policies generate stronger economic returns and represent one of the most efficient uses of public resources.

According to her, the Ministry of Budget and Economic Planning is strengthening gender-responsive and disability-inclusive planning within Nigeria’s national development framework, while also introducing systems to track whether government spending reaches the most vulnerable populations.

Earlier, the Representative to UN Women and ECOWAS, Beatrice Eyong, said the event was designed to spotlight women whose struggles are often overlooked in policy formulation.

She noted that women facing multiple forms of vulnerability—such as those living with HIV, women with disabilities and internally displaced women—frequently experience overlapping discrimination driven by poverty, stigma and social exclusion.

Also speaking, the Country Director of UNAIDS in Nigeria, Boonto Krittayawa, warned that progress toward gender equality remains slow globally and requires stronger political commitment.

She pointed to persistent gaps in political representation, economic participation and access to opportunities for women, stressing the need for targeted investments and legal reforms to accelerate progress.

Nigeria’s Minister of Women Affairs, Imaan Sulaiman-Ibrahim, represented by her Special Assistant, Princess Joan Jumai, said the government is strengthening programmes designed to address the needs of women facing multiple layers of discrimination.

She highlighted initiatives such as the Renewed Hope Social Impact Intervention 774, which aims to expand social protection and economic empowerment for vulnerable women across Nigeria’s 774 local government areas.

In her remarks, Acting Deputy Representative of UN Women in Nigeria, Patience Ekeoba, said the symposium provided a platform for women with special needs to share their experiences and influence policies affecting them.

She added that the meeting would conclude with a communiqué outlining key challenges and policy recommendations aimed at strengthening protection, inclusion and economic participation for vulnerable women across the country.

Inclusive Investment in Vulnerable Women Critical to Nigeria’s $1tn Economy Goal – Uzoka-Anite

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Nigeria Secures Strategic Role in Global Digital Economy at World Data Organization Launch

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Nigeria Secures Strategic Role in Global Digital Economy at World Data Organization Launch

By: Michael Mike

In a landmark move aimed at cementing its influence in the global digital economy, Nigeria participated in the launch of the World Data Organization (WDO) in Beijing, China.

At the event, which held on Monday, the country was represented by Director-General and Global Liaison of the Nigeria-China Strategic Partnership (NCSP), Joseph Tegbe alongside Head of International Relations at NCSP, Judy Melifonwu.

The WDO, headquartered in Beijing, is the first international body dedicated to advancing data governance, enabling secure cross-border data flows, and promoting the inclusive growth of the digital economy. Its launch brings together global powers seeking to address the digital divide, enhance cybersecurity, and establish standards that ensure equitable benefits from data-driven development.

Speaking on behalf of Chinese President Xi Jinping, Ding Xuexiang outlined the organisation’s three strategic pillars: facilitating the free and secure flow of data across borders, promoting inclusive digital development, and establishing coordinated global frameworks to protect data from cyber threats.

For Nigeria, participation at the WDO’s founding stage represents a deliberate, forward-looking strategy under the Renewed Hope Agenda. Analysts note that it positions the country to influence global digital governance standards, accelerate access to emerging technologies, and participate in international research initiatives. Such engagement is expected to strengthen Nigeria’s digital infrastructure, enhance the competitiveness of startups and financial institutions, attract foreign direct investment, and generate high-value employment opportunities for the nation’s growing youth population.

Furthermore, the WDO platform allows Nigeria to deepen collaboration in cybersecurity, enabling the country to contribute to international frameworks that safeguard national data, combat cybercrime, and ensure digital sovereignty.

Observers said Nigeria’s involvement reflects a strategic evolution in the Nigeria–China partnership, which has moved beyond traditional infrastructure projects toward high-impact, technology-driven cooperation. By joining the WDO, Nigeria positions itself to harness the opportunities of the Fourth Industrial Revolution, ensuring that technological innovation drives sustainable growth across critical sectors such as agriculture, healthcare, governance, and finance.

“The participation of Nigeria at the WDO launch is not only symbolic; it is a tangible assertion of the country’s intent to be at the forefront of global digital governance,” said a senior NCSP official. “It ensures that Nigeria has a voice in shaping rules that govern the digital economy while unlocking opportunities that directly benefit its citizens and businesses.”

The WDO’s establishment is being hailed as a critical step in bridging the global digital divide, offering developing nations like Nigeria an unprecedented opportunity to integrate into global digital networks while safeguarding national interests.

With its seat at the WDO table, Nigeria is now strategically positioned to influence global data policies, strengthen cybersecurity frameworks, and drive innovation-led economic growth in the emerging digital era.

Nigeria Secures Strategic Role in Global Digital Economy at World Data Organization Launch

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FG, Benue, UNHCR Partner to Deliver Life-Saving Support to 100,000 Displaced Persons

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FG, Benue, UNHCR Partner to Deliver Life-Saving Support to 100,000 Displaced Persons

By: Michael Mike

The Federal Government, the Benue State Government and the United Nations High Commissioner for Refugees (UNHCR) have agreed on a coordinated intervention to deliver urgent life-saving and protection support to communities affected by violence and displacement in Benue State.

The agreement was formalised following a meeting witnessed by the Minister of Humanitarian Affairs and Poverty Reduction, Bernard Doro, during which letters were exchanged between the Governor of Benue State, Hyacinth Iormem Alia, and UNHCR’s Country Representative in Nigeria, Arjun Jain.

The initiative, supported through the Nigerian Humanitarian Fund, is expected to directly benefit about 100,000 people in Guma and Makurdi Local Government Areas, with many more indirectly supported through improved protection systems and preventive security measures.

Speaking on the partnership, the Minister said the intervention reflects the Federal Government’s commitment to supporting Nigerians affected by conflict and displacement.

According to him, the collaboration will ensure that vulnerable families receive urgent assistance while advancing President Bola Ahmed Tinubu’s Renewed Hope Agenda aimed at restoring safety, dignity and stability to affected communities.

He added that the intervention will focus on three priority areas, including the provision of protection-based life-saving assistance for displaced populations, support for relocating families from camps to safer settlements, and the installation of solar-powered lighting systems to strengthen security in vulnerable communities.

The programme will also expand and digitise protection monitoring systems to enable real-time reporting, early identification of threats and integration into state and federal early-warning mechanisms.

Alia described the partnership as a critical step toward addressing the humanitarian crisis caused by persistent displacement in the state.

He noted that Benue has borne a heavy burden of forced displacement for years and stressed that the collaboration would help scale up immediate humanitarian relief while strengthening long-term systems to protect communities.

The governor reaffirmed his administration’s commitment to ensuring displaced families regain access to safety, recovery and opportunities for rebuilding their lives.

UNHCR Country Representative, Arjun Jain, also underscored the importance of strong government leadership and coordinated action in addressing humanitarian challenges.

He said the collaboration would allow partners to rapidly expand protection services and deliver assistance to families facing severe risks while laying the foundation for sustainable solutions.

Implementation of the joint intervention is expected to begin in April 2026.

FG, Benue, UNHCR Partner to Deliver Life-Saving Support to 100,000 Displaced Persons

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