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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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Army troops ISWAP Attack Repelled in Gajiram

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Army troops ISWAP Attack Repelled in Gajiram

By: Zagazola Mamama.

Troops of the Nigerian military, late Monday night, repelled an attempted attack by suspected fighters of the Islamic State West Africa Province (ISWAP) on Gajiram, headquarters of Nganzai Local Government Area of Borno.

Zagazola Makama gathered from security sources that the insurgents launched the attack at about 2200 hours but met stiff resistance from troops stationed in the area.

According to the sources, ISWAP fighters were unable to gain access into Gajiram town as they were engaged in a gun duel by security forces, leading to the foiling of the assault.

However, the attackers reportedly fired projectiles during the encounter, one of which landed in an Internally Displaced Persons (IDPs) camp within the vicinity, triggering an inferno.

Army troops ISWAP Attack Repelled in Gajiram

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ISWAP attacked Marte, two soldiers killed during battle with terrorists

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ISWAP attacked Marte, two soldiers killed during battle with terrorists

…Terrorists fled on sighting Super Tucano…

By: Zagazola Makama

Atleast two Nigerian soldiers have paid the supreme price during gun battle with ISWAP terrorists in Marte town in Borno State on Monday.

Intelligence sources said that the terrorists reportedly infiltrated the town at about 2 a.m.. they were engaged by troops of the battalion stationed in Marte, with reinforcement from the Brigade Headquarters and close air support from the Nigerian Air Force.

The coordinated counteroffensive forced the terrorists to retreat, abandoning their plans to overrun the town. two soldiers were killed in the firefight.

The attackers reportedly fled with some motorcycles and two vehicles. A number of unserviceable military vehicles, classified as beyond economic repair, were also set ablaze by the insurgents during the raid.

“There is no report of any arms or ammunition being taken by the enemy,” a military officer confirmed.

As of the time of filing this report, the Brigade Commander was on ground in Marte to assess the situation.

ISWAP attacked Marte, two soldiers killed during battle with terrorists

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Embrace the benefits of straighter, healthy teeth and confident smiles, Prof. Ajayi Advises Nigeria

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Embrace the benefits of straighter, healthy teeth and confident smiles, Prof. Ajayi Advises Nigeria

By: Michael Mike

Prof Emmanuel Olubusayo Ajayi, the pioneer Nigerian Fellow of the World Federation of Orthodontists (WFO) has advocated that the populace should embrace the benefits of straighter, healthy teeth and confident smiles by learning about the life-changing benefits of orthodontic care, and also uptake orthodontic treatment that are being provided by the Consultant Orthodontists in our various Dental facilities throughout the federation.

Prof Ajayi stated that research has shown that the mouth is the most assertive facial feature and the dental appearance is a determining factor in the overall facial aesthetics of an individual.

He further stated that research continues to show that well-aligned teeth are linked to enhanced oral function, improved self-esteem, and a lower risk of developing certain dental or jaw-related problems.

This year’s World Orthodontic Health Day (WOHD) theme, “A World of Smiles” emphasizes how orthodontic treatment can transform not just oral health but also self-esteem and overall health and well-being of individuals. The World Orthodontic Health Day provides the perfect opportunity to raise awareness about how orthodontics, a sub-specialty of Dentistry does more than just the straightening of teeth with fixed appliances which includes braces, removable appliances and aligners butalso to emphasize the utmost benefits the patients gained from their beautiful and confident smiles said Prof Ajayi.

Orthodontic problems are of public health importance and do constitute a great concern as the inability to chew one’s food without difficulties, communicate orally and pronounce words correctly, breathe normally andsmile without pleasing facial appearance will definitely impart productive social interactions and quality of life of individuals. It is therefore obvious that one cannot be truly healthy without good oral health and smiles.

Prof Ajayi emphasized that irregularly arranged teeth, crooked teeth, crowded, misplaced, unerupted or blocked-out teeth, spacing of teeth, protruding teeth, upper or lower jaws that are too far forward or back, upper and lower teeth that do not meet in front or back with gap in-between them or teeth which are abnormally related and oral habits amongst other myriads of occlusal anomalies can be treated by a Specialist / Consultant Orthodontist who are primarily Dental Surgeons but who had undergone at least 3 – 6 years of Post-graduate Master programme and or Residency training at the University Teaching Hospital.

Prof Ajayi further emphasized that a well aligned teeth and beautiful smile will enhance oral function, boost confidence, transform lives, support a positive self-image and contribute to a better quality of life of all Nigerians.
 
Prof Emmanuel Ajayi is also the Chairman of Professor Emmanuel Olubusayo Ajayi Orthodontics Advancement Foundation and he is committed to improving the lives of children, teenagers, and adults through state-of-the-art orthodontic treatment and upholds the highest standards of care, and strives to educate the community on the far-reaching benefits of a healthy smile.

Embrace the benefits of straighter, healthy teeth and confident smiles, Prof. Ajayi Advises Nigeria

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