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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)
News
Troops clear bandits’ camps, rescue victims, recover arms in Bauchi
Troops clear bandits’ camps, rescue victims, recover arms in Bauchi
By: Zagazola Makama
Troops under Operation WUTAN DAJI have cleared several bandits’ camps, rescued kidnapped victims and recovered arms during clearance operations in Bauchi State.
Security sources said troops of 33 Artillery Brigade Garrison, in conjunction with elements of the Brigade Headquarters and a team from the Office of the National Security Adviser (ONSA), carried out the operation in Kumbodoro forest and Kumbodoro village.

According to the sources, the operation was led by the Commander, 33 Artillery Brigade, Brig.-Gen. S.S. Shehu, as part of ongoing efforts to rid the area of criminal elements.
They added that several bandits’ camps, including Azuge camps, were cleared during the operation, while a number of the criminals were neutralised.
Items recovered include four skeletal rifles, four dane guns, two pairs of boots, three helmets, a power bank, a Startimes decoder, one FN rifle magazine, one AK-47 magazine, communication links, a jackknife, six mobile phones, arrows, radio chargers, ATM cards, photographs, identity cards, as well as several pairs of security agency uniforms and leg chains.

The sources further disclosed that eight kidnapped victims were rescued during the operation.
They said troops are currently holding position within the Kumbodoro forest to consolidate gains from the clearance mission.
In a related development, the sources said troops deployed at Duguri, in collaboration with local vigilantes, recovered 36 cows at Mushen Kura village following information that the animals were roaming the area.

“The cows are suspected to have fled from bandits’ camps due to the ongoing operations and are currently in custody for further action,” the sources said.
They noted that troops’ morale and combat efficiency remain high, while operations continue to deny bandits freedom of action in the region.
Troops clear bandits’ camps, rescue victims, recover arms in Bauchi
News
Joint security forces raid herders’ camp in Rivers, recover arms and ammunition
Joint security forces raid herders’ camp in Rivers, recover arms and ammunition
By: Zagazola Makama
Joint security operatives under the Joint Task Force, South-South, Operation Delta Safe, have raided a suspected herders’ camp in Ikwerre Local Government Area of Rivers State, recovering arms and ammunition.
Security sources said the operation was carried out at about 1:30 p.m. on April 12 along the IPO community axis by troops of 6 Division Garrison in collaboration with personnel of the Air Force, Navy, Police, Department of State Services (DSS) and Civil Defence Corps.
According to the sources, the raid targeted identified herders’ and cattle rearers’ camps in the area.
They added that items recovered during the operation include one AK-47 rifle, one pump-action gun, 274 rounds of 7.62mm special ammunition and four mobile phones.
The sources noted that the operation is part of ongoing efforts to curb illegal possession of firearms and enhance security across the Niger Delta region.
Joint security forces raid herders’ camp in Rivers, recover arms and ammunition
News
Zulum establishes quarry centre, procures 70 trucks for infrastructure development
Zulum establishes quarry centre, procures 70 trucks for infrastructure development
By: Our Reporter
Borno State Governor, Professor Babagana Umara Zulum, has announced the establishment of a quarry centre in Pulka, Gwoza Local Government Area, to accelerate infrastructure development in the state.
Zulum made this announcement on Monday while flagging off the distribution of 70 brand-new Howo pickup trucks to the Ministry of Works and the State Road Maintenance Agency (BORMA) at the Government House.

The 70 Howo trucks are designed to boost the operational capacity of the Ministry of Works and its supervising agencies. The trucks will enable the swift delivery of materials to sites and faster intervention on distressed roads.
According to the governor, the quarry centre will provide locally sourced materials including granite, gravel and sharp sand to support ongoing and future road projects, reducing dependence on external suppliers and cutting costs.
“We have achieved a lot in health, education, agriculture, security, and road construction among others. However, we still have challenges of constructing roads within the state, especially in rural communities,” Zulum said.
“My administration has established a quarry plant in Pulka with a processing capacity of 120 tons per hour. The State Government spent at least 3 billion to establish the quarry plant”, he added.
According to the governor, due to the prevailing insecurity, most contractors are not willing to work in Borno.

“You know, no serious contractor will take the risk of deploying his equipment to most of the implementing areas, so this is the reason we are here”, the governor reinstated.
“So, we have no option but to strengthen the capacity of the Ministry of Works, the capacity of Borno State Road Maintenance Agency (BORMA), the capacity of special projects, monitoring departments and other MDAs that are responsible for road construction.”
The brief ceremony was attended by the Secretary to Borno State Government, Bukar Tijani, Acting Chief of Staff, Dr Babagana Mustapha Mallumbe, Permanent Secretary Ministry of Works, Engr Baware, BORMA Chairman, Engr Sadu Auno, the Special Adviser on Monitoring and Evaluation, Engr Bukar Gujubawu and other senior officials.
Zulum establishes quarry centre, procures 70 trucks for infrastructure development
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