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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
FG Reaffirms Commitment to Collaboration, Innovation at AFRIDEX 2026
FG Reaffirms Commitment to Collaboration, Innovation at AFRIDEX 2026
By: Michael Mike
Minister of Interior, Olubunmi Tunji-Ojo, has reaffirmed the Federal Government’s strong commitment to inter-agency collaboration, innovation, and national development during a high-level engagement with organisers of the African International Defence Exhibition (AFRIDEX) 2026.
The Minister made this known while receiving Maj. Gen. Umar Alkali and his delegation on a courtesy visit to his office in Abuja.
Describing AFRIDEX as “a very special programme,” Dr. Tunji-Ojo emphasized that meaningful progress within Nigeria’s defence and security architecture can only be achieved through collaboration rather than isolated efforts. He stressed the need for institutions to embrace openness, synergy, and strategic partnerships to maximise national impact and drive sustainable development.
He commended the AFRIDEX initiative as a critical platform for both emerging and established innovators, particularly Nigerian youths who continue to demonstrate exceptional ingenuity in digital and cybersecurity sectors. According to the Minister, providing visibility for such talents is essential for strengthening national pride, advancing economic growth, and enhancing global competitiveness.
Highlighting the central role of research in national development, Tunji-Ojo called for stronger linkages between innovation and market opportunities. He noted that creating platforms where innovators, manufacturers, and investors can interact is key to translating research into tangible economic value.
Encouraging the organisers, the Minister advised that AFRIDEX should be institutionalised as an annual event. While acknowledging that the maiden edition may present challenges, he noted that it would also offer valuable lessons to improve future editions. He further called for deeper collaboration among security and intelligence agencies, stressing that “this is not a time for territorial thinking, but for collective progress.”
Reaffirming the Ministry’s support, he described AFRIDEX as an initiative that represents “the future, not just the present,” adding that sustained efforts would attract international participation and promote the growth of indigenous industries.
On visa facilitation, the Minister acknowledged ongoing improvements but recommended the establishment of a dedicated support desk to ensure seamless entry processes for the expected influx of international participants.
Earlier, Maj. Gen. Alkali expressed appreciation to the Minister for the audience and commended his continued support for capacity building and inter-agency cooperation. He formally introduced AFRIDEX as a premier global defence and security exhibition scheduled to hold from October 26–29, 2026, at Eko Atlantic City.
Organised with the support of the Federal Government of Nigeria and hosted by the Ministry of Defence in collaboration with the Defence Industries Corporation of Nigeria, the event is expected to bring together global leaders, policymakers, industry experts, and innovators. The exhibition will showcase cutting-edge solutions across land, air, maritime, space, and cyber domains, with over 30,000 international participants and 500 exhibitors anticipated.
Alkali also highlighted the critical role of the Ministry of Interior in ensuring the success of the event, particularly in the areas of security coordination and visa facilitation. He formally invited the Honourable Minister to participate and requested the Ministry’s support in promoting AFRIDEX through its platforms, as well as encouraging participation from agencies under its supervision.
The visit concluded with a shared commitment to strategic partnership and a unified vision of positioning Nigeria as a global hub for defence innovation and security solutions.
FG Reaffirms Commitment to Collaboration, Innovation at AFRIDEX 2026
News
Marwa Warns University Students Against Drug Abuse, Says It Destroys Future Prospects
Marwa Warns University Students Against Drug Abuse, Says It Destroys Future Prospects
By: Michael Mike
The Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), Buba Marwa, has warned Nigerian youths against drug abuse, describing it as a dangerous habit capable of ruining their future and career prospects.
Marwa gave the warning on Tuesday while delivering the convocation lecture at the 29th and 30th combined convocation ceremony of the University of Abuja.
Speaking on the topic, “High Today, Lost Tomorrow: The Real Cost of Drug Abuse on Campus,” the NDLEA boss said substance abuse has moved beyond the streets and is now a growing problem within lecture halls and campuses.

He noted that the drug scene has evolved from the use of traditional substances like cannabis to more dangerous synthetic opioids and designer drugs such as Colorado, Loud and Methamphetamine. He also raised concerns over the increasing use of social media platforms for drug distribution, as well as the involvement of students in trafficking.
“A criminal record for drug offences is a life sentence on your career before it even begins. You cannot practise law, medicine or engineering with a drug-related conviction,” he said.
Marwa explained that drug abuse affects the brain by altering neurotransmitters, leading to poor memory and impaired critical thinking. He added that substance abuse is often linked to cultism and campus violence, warning that arrest and conviction could permanently end professional ambitions.
Citing statistics, he said over 77,000 drug offenders were arrested in the past five years, with more than 60 per cent being young people. He also disclosed that most of the over 48,000 individuals treated in NDLEA facilities within the same period were youths.
The NDLEA chairman further referenced findings from the 2018 National Drug Use and Health Survey, which showed that many Nigerians begin experimenting with drugs around the age of 19, while cases involving younger teenagers are on the rise.
Addressing the graduating students, Marwa urged them to remain focused and avoid peer pressure as they step into the next phase of their lives.
“You are about to enter a world that is AI-powered and fintech-driven. There is no room for a clouded mind in a fast-paced environment. Choose your circle carefully. If your friends require you to be ‘high’ to belong, you are in the wrong company,” he said.
He stressed that character is as important as academic success, urging the graduates not to sacrifice their future for temporary pleasure.
“Nigeria needs your talent, your energy and—most importantly—your sober mind to lead us into the next decade,” he added.
Marwa also called on stakeholders to intensify efforts in tackling drug abuse, noting that its effects extend beyond individuals to families, institutions and society through increased crime and reduced productivity.
He commended the leadership of the University of Abuja for partnering with NDLEA to strengthen campus surveillance and urged tertiary institutions to prioritise drug education during orientation programmes.
Dignitaries at the event included the Pro-Chancellor and Chairman of the Governing Council, Olanrewaju Tejuoso; Vice-Chancellor, Hakeem Babatunde Fawehinmi; Council Member, Adedeji Adefuye; as well as senior officials of the university and NDLEA.
Marwa Warns University Students Against Drug Abuse, Says It Destroys Future Prospects
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
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