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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
West African Leaders Move to Deepen Regional Security Cooperation at Accra Conference
West African Leaders Move to Deepen Regional Security Cooperation at Accra Conference
By: Michael Mike
Leaders from several West African countries have agreed to pursue a new, structured approach to regional cooperation aimed at tackling terrorism, cross-border crime, and deepening insecurity across the sub-region.
The commitment was reached at the end of a two-day High-Level Consultative Conference on Regional Cooperation and Security held in Accra from January 29 to 30, 2026.
The meeting was chaired by Ghana’s President, John Dramani Mahama, with Presidents Julius Maada Bio of Sierra Leone and Joseph Boakai of Liberia leading their respective delegations.
Representatives from Burkina Faso, Mali, Mauritania, Nigeria, Senegal, and Togo also participated.

Discussions at the conference focused on the worsening security situation in West Africa, which leaders described as facing an alarming rise in terrorism and violent extremism. Participants noted that the frequency of attacks and loss of civilian lives now pose a serious threat to regional stability, economic activity, and social cohesion, making coordinated action unavoidable.
The conference followed earlier technical sessions involving Ministers of Foreign Affairs, Defence, and Security, as well as intelligence chiefs from participating states. Development partners, including the African Union Commission and the United Nations Development Programme (UNDP), alongside civil society organisations, contributed to the deliberations.
Leaders agreed that existing responses to insecurity have been too fragmented and largely reactive. As a result, the conference resolved to work toward a permanent framework for cooperation that would strengthen collective responses, improve information sharing, and address the structural drivers of insecurity across borders.
A key outcome of the meeting was a renewed emphasis on a human security approach, recognising that military measures alone cannot deliver lasting peace.
The leaders pledged to prioritise governance reforms, job creation, access to education and healthcare, and community-based peacebuilding as part of national and regional security strategies.
On counterterrorism, the conference agreed to enhance intelligence and information sharing, harmonise legal frameworks to support cross-border prosecution of terrorism-related crimes, and expand deradicalisation programmes while upholding human rights standards. Measures to combat trafficking in arms, narcotics, and persons were also highlighted.
To strengthen border security, participants committed to exploring joint operational measures, including possible “hot-pursuit” arrangements through bilateral or multilateral agreements. They further agreed to develop a foundational Memorandum of Understanding (MoU) on cooperation and security within six months, with Ghana’s Minister of Foreign Affairs tasked with leading the drafting process.
The conference also addressed humanitarian and climate-related challenges, recognising climate change as a factor that intensifies conflict and displacement. Leaders agreed to integrate climate and food security into regional peace planning and to work toward a shared disaster preparedness and humanitarian response framework.
At the close of the meeting, participants agreed to institutionalise the consultative conference as a bi-annual platform and to establish a mechanism for tracking and monitoring the implementation of agreed decisions.
The conference ended with a renewed pledge by regional leaders to translate commitments into concrete actions that safeguard lives, protect livelihoods, and strengthen stability across West Africa.
Nigeria’s Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu led the country’s delegation to the meeting.
West African Leaders Move to Deepen Regional Security Cooperation at Accra Conference
News
Troops storm bandit leader’s camp in Zamfara, neutralise 20, destroy stronghold
Troops storm bandit leader’s camp in Zamfara, neutralise 20, destroy stronghold
By: Zagazola Makama
Troops of the 8 Division, Nigerian Army, operating under Sector 2 of Operation FANSAN YAMMA, have stormed the camp of a notorious bandit leader, Gwaska Dan Karmi, in Maru Local Government Area of Zamfara State, neutralising 20 terrorists and destroying the stronghold.
A military source told Zagazola Makama that the decisive, well-coordinated offensive followed credible intelligence that over 100 bandits had converged at the camp to plan coordinated attacks on communities and logistics movements.

According to the source, the troops, supported by the Nigerian Air Force, the Civilian Joint Task Force (CJTF) and local vigilantes, conducted week-long surveillance before moving to intercept the terrorists.
“Contact was established on Jan. 31, 2026, as the terrorists advanced. They engaged the troops in a fierce firefight and attempted a flanking manoeuvre, but this was repelled by superior firepower,” the source said.
He said 20 terrorists were neutralised in the encounter, while several others fled with gunshot wounds. Follow-up operations, the source added, were ongoing to assess further casualties and recover additional items.

The raid yielded significant recoveries, including assorted weapons and ammunition, bicycles, food supplies, medical drugs, clothing, detergents and other logistics materials.
“The Gwaska Dan Karmi camp was completely destroyed,” the source said.
He noted that troops remained highly motivated, with combat efficiency assessed as strong and unwavering.
Troops storm bandit leader’s camp in Zamfara, neutralise 20, destroy stronghold
News
Army troops, police rescue abducted victim in Zamfara
Army troops, police rescue abducted victim in Zamfara
By: Zagazola Makama
Army troops of Operation FANSAN YAMMA, in collaboration with the Zamfara State Police Command, have rescued an abducted man in Tsafe Local Government Area of the state.
Sources said that the incident occurred on Jan. 29, when armed bandits invaded the residence of Abdullahi Isah Nagari on the outskirts of Tsafe town and abducted him to an unknown destination.

According to the source, troops under Operation FANSAN YAMMA, in collaboration with the Divisional Police Officer (DPO) of Tsafe Division promptly mobilised to launch a coordinated rescue operation.
“During a thorough search of the surrounding bushes, the victim was successfully located and rescued. He was found tied to a tree with a machete cut injury on his hand,” the source said.
The sources added that the victim was immediately taken to the General Hospital, Tsafe, where he was receiving medical attention.
The source said efforts were ongoing to track down and arrest the perpetrators, while security patrols had been intensified in the area to prevent further occurrences.
Army troops, police rescue abducted victim in Zamfara
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