Connect with us

News

Sustainable growth and building resilience in Africa require structural transformation – Economic Report on Africa (ERA 2023)

Published

on

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)

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Operation Hadin Kai debunks Fake news on ISWAP enclave in Tuba, Jere in Borno

Published

on

Operation Hadin Kai debunks Fake news on ISWAP enclave in Tuba, Jere in Borno

By: Zagazola Makama

Reports circulating online claiming that Boko Haram and ISWAP insurgents have established a new enclave in Tuba, Jere Local Government Area, have been strongly condemned by military sources in Operation HADIN KAI, describing the claims as false, misleading, and deliberately designed to spread fear.

According to the sources, recent operations conducted by troops of 212 Battalion, Operation HADIN KAI, across Tuba and surrounding areas including Dusuman, Jabarmari, Gongulong, Ngom, and along the Maiduguri-Monguno and Maiduguri-Mafa highways, found no evidence of any terrorist enclave, concentration, or movement as claimed in the reports.

The military sources expressed outrage over the circulation of such unverified stories, noting that some media platforms appear to be serving interests contrary to national security and public safety. “These claims are false, sensational, and do not reflect the reality on the ground,” the sources said.

They pointed to previous instances of deliberate exaggeration, where some outlets reported that 40 or even 100 soldiers were killed during attacks in Konduga figures that were never corroborated by even the insurgents themselves. Another example cited involved reports claiming Boko Haram had taken over Ngoshe, only for videos of troops firmly securing the area to emerge, exposing the lies. Despite this, some media still went ahead to report that Army has recaptured Ngoshe without providing further details of how the Operation tool place.

“Who are these media outlets serving?” the military sources demanded. “Are they advancing national or public interest, or are they actively trying to support the terrorists to disintegrate the country through fake narratives?”

While acknowledging operational challenges in the theatre, the military sources emphasized that troops continue to maintain operational dominance, safeguard residents, and protect highways and strategic installations across the North East region.

In other countries, citizens rally around their military to support them in countering violent extremism. Hardly will you find active citizens working as though they are tool of terrorists propaganda. They warned that unverified reports undermine troop morale, endanger civilians, and distort public perception of ongoing security efforts in the country.

Journalists and media platforms were urged to exercise professionalism, verify facts before publication, and avoid being used as instruments of destabilisation. Residents were advised to rely only on credible sources and report suspicious activities to security agencies.

The military remains committed to defeating terrorism, ensuring stability in Borno State and the broader North-East, and will not be distracted or demoralized by falsehoods masquerading as news.

Operation Hadin Kai debunks Fake news on ISWAP enclave in Tuba, Jere in Borno

Continue Reading

News

Fresh tension in ISWAP camps as top commander Modu Kunduli neutralised by troops in Borno

Published

on

Fresh tension in ISWAP camps as top commander Modu Kunduli neutralised by troops in Borno

By: Zagazola Makama

Fresh tension and anxiety have gripped Islamic State West Africa Province (ISWAP) camps following the neutralisation of one of its top commanders, Modu Kunduli, by troops of Operation HADIN KAI during a failed assault on the Army Forward Operation Base in Mayanti village, Bama Local Government Area of Borno State.

Sources say the late commander met his end during a last week’s failed mission targeting the Army Forward Operation Base at Mayanti village. His death is expected to create a significant leadership vacuum within ISWAP, particularly in Sambisa Forest, given his mastery of local terrain and fluency in Fulfulde, Kanuri, and Marghi.

Zagazola report that Kunduli, a high-profile ISWAP commander, had been orchestrating attacks across Borno and Adamawa states for the past ten years, dating back to the era of Boko Haram founder Abubakar Shekau. He joined ISWAP shortly after the death of Shekau in 2021z

He was notorious for terrorising communities in Askira Uba Local Government Area, including Lassa, Multaku, Uvu, Wamdeo, and Ruimirgo villages. Reports also indicate his involvement in attacks on Vita, Yamtage, Izge, Pulka, Warabe, Limankara, and Ubawa villages in Gwoza Local Government Area.

Beyond Borno, Kunduli held operational control over Galta, a border community linking Adamawa and Borno states, overseeing large swathes of territory in Madagali and Michika Local Government Areas of Adamawa. His deep knowledge of the Sambisa Forest terrain, coupled with his leadership capabilities, earned him the command of several ISWAP branches across the region.

Zagazola note that Kunduli’s elimination represents a major blow to ISWAP’s operational capabilities in the north-east, disrupting the group’s command structure and its ability to coordinate attacks across Borno and Adamawa states.

Troops of Operation HADIN KAI continue to exploit the area and maintain aggressive patrols to prevent remaining insurgents from regrouping.

Military sources have assured residents that the offensive will continue until the remnants of the terrorist group are decisively neutralised.

Fresh tension in ISWAP camps as top commander Modu Kunduli neutralised by troops in Borno

Continue Reading

News

Lake Chad Basin Commission appoints Amb. Ibrahim Babani as Executive Secretary

Published

on

Lake Chad Basin Commission appoints Amb. Ibrahim Babani as Executive Secretary

By: Zagazola Makama

The designation of Amb. Ibrahim Babani as the new Executive Secretary of the Lake Chad Basin Commission (LCBC) has sparked fresh expectations for stronger regional cooperation, environmental recovery and security stabilisation across the Lake Chad region.

Babani’s appointment was announced at the 71st Ordinary Session of the Council of Ministers of the LCBC, held on March 6, 2026, in N’Djamena, Chad, where ministers and commissioners from member states deliberated on strategies to address the region’s pressing challenges.

The meeting, chaired by Mr Passale Kanabe Marcelin, Chad’s Minister of Water and Energy Resources and current Chairman of the LCBC Council of Ministers, brought together representatives of the commission’s member states, including Nigeria, Niger, Cameroon, Chad and the Central African Republic.

Nigeria was represented by Prof. Joseph Terlumun Utsev, Minister of Water Resources and Sanitation and First Commissioner of Nigeria to the LCBC, alongside Mrs Bianca Ojukwu, Minister of State for Foreign Affairs and Second Commissioner.

The Lake Chad Basin Commission remains one of Africa’s most important regional bodies, responsible for coordinating water resource management, environmental restoration and socio-economic development among countries sharing the Lake Chad Basin.

The basin supports more than 40 million people across the five member states, whose livelihoods depend largely on fishing, farming and pastoral activities linked to the shrinking lake.

Over the past decades, however, the region has faced severe environmental degradation, climate change impacts and the devastating effects of the ISWAP/Boko Haram insurgency, which has displaced millions and disrupted economic activities. These complex challenges have made the role of the LCBC increasingly strategic in driving recovery, stabilisation and resilience across the basin.

Stakeholders believe Babani’s emergence as Executive Secretary comes at a critical time when the commission is intensifying efforts to implement several large-scale regional programmes.

These include the Regional Strategy for Stabilisation, Recovery and Resilience (RS-SRR) for areas affected by Boko Haram violence, as well as projects aimed at ecological restoration and socio-economic reintegration of vulnerable populations.

During the meeting, commissioners reviewed progress in implementing the strategy and emphasised the need to accelerate key initiatives, including the development of a regional transitional justice policy and improved coordination of stabilisation interventions.

They also recommended the organisation of the sixth edition of the Governors’ Forum in Niger, alongside meetings of traditional rulers and civil society organisations to strengthen community-based recovery efforts.

Prior to his appointment, the incoming Executive Secretary of the LCBC, Amb. Ibrahim Babani, served as Director of External Affairs (DEA) at the Office of the National Security Adviser (ONSA) and also doubles as Head of Mission (HoM) of the Multinational Joint Task Force (MNJTF), bringing extensive security and diplomatic experience to his new role.

Babani’s leadership will therefore be critical in coordinating these initiatives and ensuring that they translate into tangible benefits for affected communities. Another priority expected to dominate Babani’s tenure is the restoration of the Lake Chad ecosystem, which has shrunk drastically over the past half century due to climate change, drought and unsustainable water use.

At the session, commissioners reviewed progress on the Inter-Basin Water Transfer Project, a major initiative designed to replenish the lake by transferring water from other basins.

The Council of Ministers commended the LCBC Executive Secretariat for successfully mobilising funding from the African Development Bank for the project and urged faster implementation of technical support programmes aimed at restoring the lake’s ecological and economic functions. Environmental experts believe that restoring the lake is crucial for reducing poverty, preventing conflicts over natural resources and addressing some of the root causes of insecurity in the region.

The Ministers also reviewed progress on the Lake Chad Region Recovery and Development Project (PROLAC) and encouraged continued engagement with the World Bank to secure financing for a second phase of the initiative.

Similarly, they called for further advocacy with the African Development Bank to support the second phase of the Project to Support the Socio-Economic Reintegration of Vulnerable Groups in the Lake Chad Basin (PARSEBALT).

Both initiatives focus on rebuilding infrastructure, supporting livelihoods and reintegrating vulnerable groups affected by years of insurgency and displacement. These programmes complement military efforts against extremist groups by addressing the social and economic conditions that fuel instability.

Despite its strategic importance, the LCBC continues to face financial constraints that could hamper implementation of its programmes.

During the session, commissioners raised concerns about the accumulation of unpaid contributions by member states and urged governments to settle their arrears and ensure regular payment of statutory dues.

They also mandated the chairman of the Council of Ministers to escalate the issue to the highest political authorities within member states to guarantee sustainable funding for the commission’s activities.

The council approved the commission’s 2026 Annual Work Plan and Budget, estimated at 15.13 billion CFA francs, with over 12.63 billion CFA francs allocated to development programmes and 2.50 billion CFA francs for operational costs.

The meeting also adopted key annexes to the Lake Chad Basin Water Charter, including frameworks governing the management of water infrastructure and procedures for notification of planned measures affecting shared water resources.

Commissioners further endorsed a Five-Year Investment Plan and directed the Executive Secretariat to organise a donors’ roundtable to mobilise international support.

Babani’s leadership comes at a time when the Lake Chad region is at a crossroads. While military operations have significantly weakened insurgent groups in recent years, millions of people still face humanitarian challenges, environmental degradation and fragile livelihoods.

The effectiveness of the LCBC in coordinating development, environmental restoration and stabilisation initiatives could determine whether the region moves toward lasting peace and prosperity.

The Council of Ministers concluded the meeting by expressing appreciation to development partners for their continued support and announcing that the next budgetary session will be held in Bangui, Central African Republic.

For many stakeholders in the Lake Chad Basin, the appointment of Babani represents not only a change in leadership but also a renewed opportunity to accelerate recovery, strengthen regional cooperation and secure the future of one of Africa’s most vital ecosystems.

Zagazola is a Counter Insurgency Expert and Security Analyst in the Lake Chad regional

Lake Chad Basin Commission appoints Amb. Ibrahim Babani as Executive Secretary

Continue Reading

Trending

Verified by MonsterInsights