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Sustainable growth and building resilience in Africa require structural transformation – Economic Report on Africa (ERA 2023)
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)
NHRC trains 34 human rights advocates in Gombe
The National Human Rights Commission (NHRC) has trained 34 Community Protection Rights Advocates to protect and promote human rights in Gombe state.
Dr Joseph Wanshe, the State Coordinator of the Commission, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Gombe on Monday.
Wanshe said that the training was imperative toward achieving the mandate of the commission in the state.
According to him, the trained advocates, who are mostly in rural areas, will penetrate distant and rural communities where human rights violations are rampant.
He said that the training has started yielding the expected results as there have been increased number of reported cases of human rights violations from rural communities across the state.
He said that the advocates have been deployed to the 11 local government areas of the state.
“We are witnessing an upsurge in human rights reporting coming to the office.
“ The numbers are increasing as regards civil and political rights followed by cases of women and children, domestic violence, economic, social and cultural rights.
“ There are many factors involved in the upsurge as the NHRC within the last one month has stepped up sensitisations and stakeholders’ engagements.
“ We have trained Community Protection Rights advocates, who have been working and as a result, awareness has increased and number of complaints received have spiked,” he said.
Wanshe said that the trained advocates have been affiliated to NHRC at the local government levels toward ensuring wider coverage of the state in terms of human rights protection.
He assured residents on the commission’s effort at ensuring that it achieved effectively its mandate of protection and promotion of human rights.
Wanshe commended the people of Gombe State for their improved confidence in NHRC which has resulted in improved reportage of human rights violations
He further urged communities to support the advocates in their domains in the overall interest of human rights protection.
NHRC trains 34 human rights advocates in Gombe
Troops intercept 11 suspects with IED-making materials in Abuja
Troops of the Nigerian Army have intercepted 11 suspected criminals conveying materials believed to be for the production of improvised explosive devices (IEDs) in Kuje Area Council of the Federal Capital Territory.
By: Zagazola Makama
Security sources said the suspects, comprising 10 males and one female, were arrested at about 12:59 a.m. on April 27 by troops of 176 Guards Battalion deployed at Kuchiyako.
The sources disclosed that the suspects were intercepted in a vehicle along the Kuchiyako–Tipper Garage road, allegedly loaded with IED-making materials.
According to preliminary investigation, the suspects claimed they were en route to mining sites around Kabbin Mangoro in Kuje Area Council to collect mineral resources.
Items recovered from them include explosive charges and three-and-a-half bags of unidentified mineral substances, among other sundry materials.
The suspects are currently in military custody, while investigations are ongoing to ascertain their intent and possible links to criminal or terrorist activities.
Troops intercept 11 suspects with IED-making materials in Abuja
Troops repel terrorists in Zamfara, recover calm after attack on Godel community
By: Zagazola Makama
Troops of the Nigerian Army under 1 Brigade have repelled an attack by suspected terrorists in Godel community of Birnin Magaji Local Government Area of Zamfara State.
Security sources said the incident occurred at about 2:08 p.m. on April 27 when troops deployed at Forward Operating Base (FOB) Kaura Namoda responded to credible intelligence on terrorist activities in the area.
The sources disclosed that troops made contact with the attackers upon arrival, leading to a fierce exchange of fire.
According to the sources, the troops forced the terrorists to withdraw from the area following the encounter.
However, during the attack, the assailants reportedly rustled an unspecified number of cattle belonging to residents of the community.
Three civilians were also said to have sustained gunshot wounds and were evacuated for medical attention.
The sources added that troops have intensified patrols and clearance operations in the general area to prevent further attacks and recover the rustled livestock.
Troops repel terrorists in Zamfara, recover calm after attack on Godel community
NHRC trains 34 human rights advocates in Gombe
Troops intercept 11 suspects with IED-making materials in Abuja
Troops foil kidnap attempt in Kaduna, rescue two victims
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