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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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Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents

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Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has commiserated with the people of Ngoshe affected by the recent Boko Haram attack, describing the incident as tragic.

Ngoshe, a community in Gwoza local government, was attacked on Tuesday evening, scores were killed, while others were abducted.

Addressing members of the community on Friday in Pulka, Governor Zulum said he personally came to sympathize with the affected people and families of those that lost their loved ones.

He assured that efforts are underway to rescue all those abducted, restore security, and provide humanitarian support to victims.

“We are here today to commiserate with the people of Ngoshe that have lost their loved ones following the unfortunate incident that occurred on Tuesday. The situation is very sad and our hearts go out to all those affected by this tragedy,” Zulum said.

“I want to assure you that we will do everything possible to address the unfortunate situation that has befallen this community, and for those who have been abducted, the Nigerian military will do everything within its capacity to rescue them,” Zulum assured.

Governor Zulum explained that military operations are currently ongoing in Ngoshe and the Sambisa Forest to rid the area of criminal elements.

“There are ongoing military operations within the Sambisa Game Reserve. What we witnessed yesterday was largely a result of insurgents being pushed out from their strongholds, which led them to launch coordinated attacks on nearby communities,” he explained.

He called on the Nigerian Army to intensify operations to clear insurgents from the Mandara Hills which he described as a major security threat.

“The Mandara Hills remain a major security concern. The insurgents descended from the hills to attack this town. Therefore, I call on the Nigerian Army and the Federal Government to intensify efforts to clear Mandara Hills of insurgents,” Zulum said.

The governor noted that the exact number of casualties is yet to be confirmed as assessments are still ongoing, but acknowledged that several lives were lost while others were abducted.

As part of immediate humanitarian intervention, the governor said the state government had begun distributing relief materials and establishing cooking points to provide food for displaced residents.

“For now, we will distribute food items to those affected and I have directed that cooking points be established so that everyone in this community can receive meals from a central kitchen,” he said.

The governor appealed to residents to remain calm and law-abiding, noting that Borno State government will double its efforts to end this madness. “We shall not relent in our commitment to restoring lasting peace and stability in the state,” he said.

“I strongly believe that with sustained military operations and cooperation between all levels of government, we will overcome this challenge. Insha Allah, peace will return fully to our land,” the governor added.

Similarly, Governor Babagana Zulum inspected houses burned during an attack by Boko Haram insurgents on Thursday in Konduga town.

Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents

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IWD 2026: UN Women Warns Nigeria’s Democracy at Risk as Women Hold Just 3.9% of Parliamentary Seats

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IWD 2026: UN Women Warns Nigeria’s Democracy at Risk as Women¹ Hold Just 3.9% of Parliamentary Seats

By: Michael Michael

The Country Representative of UN Women to Nigeria and the Economic Community of West African States (ECOWAS), Beatrice Eyong, has warned that Nigeria’s democratic progress and development could remain stunted unless urgent action is taken to close the country’s widening gender inequality gap.

Speaking in Abuja during a media parley ahead of the 2026 commemoration of International Women’s Day, Eyong said Nigeria continues to face troubling disparities in women’s representation, safety and access to justice despite years of advocacy and policy commitments.

The global observance this year is themed “Rights. Justice. Action.”

Eyong said the theme reflects a growing international concern that although women’s rights are widely recognised in law and policy, millions of women still struggle to experience those rights in their daily lives.

She particularly raised alarm over Nigeria’s extremely low level of female political representation, revealing that women currently occupy just 3.9 per cent of parliamentary seats, one of the lowest rates anywhere in the world.

According to her, the imbalance not only undermines democratic inclusion but also weakens the country’s ability to make policies that reflect the needs of half of its population.

“Gender equality is fundamentally a question of power, and the power gap in Nigeria remains stark,” Eyong said.

“When women are missing from decision-making tables, the consequences are visible in the policies we adopt, the priorities we fund, and the voices that remain unheard.”

Beyond politics, she said Nigeria continues to grapple with persistently high levels of gender-based violence, noting that many survivors still face enormous barriers in seeking justice.

She warned that violence against women is increasingly spreading into digital spaces, where technology-facilitated abuse has become a growing threat.

“Rights mean little without justice,” she said. “Justice must be experienced in women’s safety, in their freedom from fear, and in their ability to seek protection and accountability wherever abuse occurs.”

To confront these challenges, Eyong said UN Women is intensifying advocacy for the Special Seats for Women Bill, a constitutional reform proposal aimed at guaranteeing women stronger representation in Nigeria’s legislative institutions.

She explained that the organisation is also working with the Federal Ministry of Women Affairs to strengthen the National Sexual Offender Database, a critical accountability tool designed to prevent convicted offenders from evading detection by moving between states.

In addition, she said UN Women has expanded its engagement with traditional and religious leaders across Nigeria to challenge cultural norms and social practices that perpetuate discrimination and violence against women.

The agency is also supporting efforts to institutionalise Gender-Responsive Budgeting at federal and state levels to ensure government spending prioritises issues affecting women and girls, including maternal health, girl-child education, economic empowerment and community safety.

Eyong noted that beyond policy reforms, UN Women is building partnerships with financial institutions and the private sector to increase access to funding for women-led businesses and community initiatives.

She also highlighted ongoing efforts to strengthen women’s participation in peacebuilding and conflict prevention through Nigeria’s Third National Action Plan on Women, Peace and Security.

However, Eyong stressed that meaningful progress will require more than policy declarations.

According to her, Nigeria does not suffer from a shortage of gender policies but from weak implementation, insufficient financing and inconsistent enforcement.

“We must move from commitments to implementation and from plans to measurable impact,” she said.

She called on the media to intensify its role in exposing injustice, amplifying the voices of survivors of violence and promoting women’s leadership across sectors.

Eyong said journalists remain critical partners in shaping national conversations that can influence policy reforms and public attitudes toward gender equality.

“When we secure justice and rights for women, we secure Nigeria’s stability, prosperity and future,” she said.

She added that UN Women remains committed to working with government, civil society, development partners and communities to ensure that the ideals of Rights, Justice and Action translate into tangible change for women and girls across Nigeria.

IWD 2026: UN Women Warns Nigeria’s Democracy at Risk as Women Hold Just 3.9% of Parliamentary Seats

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Zulum Appoints Dr. Sa’id Alkali Kori, 3 others as Chairman, Board Members, Borno Investment Promotion Agency

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Zulum Appoints Dr. Sa’id Alkali Kori, 3 others as Chairman, Board Members, Borno Investment Promotion Agency

By: Our Reporter

The earlier statement inadvertently refers to Dr. Sa’id Alkali Kori as the Director General/Chief Executive Officer of the Borno State Investment Promotion Agency, rather than the Chairman/Chief Investment Adviser to the Borno State Governor.

Therefore, this statement supersedes the earlier one.

Borno State Governor, Professor Babagana Umara Zulum, has approved the appointment of Dr. Sa’id Alkali Kori as Chairman/Chief Investment Adviser to the Borno State Governor.

Dr. Kori is a consummate entrepreneur and investment and infrastructure finance expert, and holds a PhD in Humanities and Social Sciences with a focus on Intellectual Capital from the University of London, United Kingdom.

He serves as the Honorary Special Adviser on International Relations and Investment to the Governor of Yobe State and is the Technical Adviser to the Lake Chad Basin Governors’ Forum.

Dr. Kori is currently the Chairman and Group Chief Executive Officer of Thinklab Group Limited, a leading innovation and development finance firm. He also serves as the Chairman of the Board for the Nigeria Food Corporation.

He has structured financing in excess of $200 million for critical infrastructure in housing, healthcare, and road networks.

The appointment is for the initial term of four years.

Governor Babagana Umara Zulum has also approved the appointment of Laminu Lawan Awana, Abubakar Ahmed Askira, and Danladi Alfaki Isa as Governing Board members representing the three senatorial zones of the state.

This is in accordance with section 6(b) of the Borno State Investment Promotion Law 2026 (as amended).

The appointees are seasoned professionals in trade and investment, development financing, housing, and mortgage finance.

Other members of the Board include:

A representative from each of the following Ministries, Departments, and Agencies, not below the rank of a Director, as Ex-Officio Members:
· Ministry of Commerce, Trade and Industries
· Borno State Geographic Information Service (BOGIS)
· Ministry of Works
· Ministry of Housing and Energy
· Ministry of Justice
· Ministry of Agriculture and Natural Resources
· Ministry of Livestock
· Ministry of Planning
· Ministry of Finance
· Ministry of Local Government and Emirate Affairs

  1. Two (2) representatives from the Organized Private Sector in Borno State.
  2. The Director-General of the Borno State Investment Promotion Agency will serve as the Secretary.

All the appointments take immediate effect.

Governor Babagana Zulum expressed confidence that, with Dr. Kori’s vast experience and the collective expertise of the board members, the state will be positioned as a hub for domestic and foreign investment and will foster viable Public-Private Partnerships (PPPs) to accelerate the State’s economic revitalization and sustainable development.

Zulum Appoints Dr. Sa’id Alkali Kori, 3 others as Chairman, Board Members, Borno Investment Promotion Agency

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