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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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Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau

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Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau

By Zagazola Makama

Four persons have been killed and three others injured following an attack by unknown gunmen at an illegal mining site in Barkin-Ladi Local Government Area of Plateau State.

Security sources said the incident occurred at about 1:30 p.m. on May 2 at Mazat mining site, where the victims were reportedly engaged in unauthorised mining activities.

The sources disclosed that the assailants opened fire on the victims, killing four on the spot while three others sustained varying degrees of gunshot injuries.

According to the sources, the injured victims—two females and one male—were rushed to a nearby hospital for medical attention and are currently receiving treatment.

They added that the corpses of the deceased have been deposited at the hospital morgue for autopsy.

The sources further noted that security operatives were mobilised to the scene, while additional deployments have been made to track down the perpetrators.

They reiterated that night mining activities remain prohibited in the state, stressing that investigations into the incident are ongoing.

Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau

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Security Operatives Repel Attack in Benue Community Over Land Dispute

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Security Operatives Repel Attack in Benue Community Over Land Dispute

By Zagazola Makama

Security operatives have repelled an attack on Okpute Ainuette community in Oju Local Government Area of Benue State following a renewed land dispute with a neighbouring community.

Security sources said the incident occurred at about 9:15 a.m. on May 2 when armed men, suspected to be from a community in Obi Local Government Area, invaded the area.

The sources disclosed that operatives swiftly responded to a distress call and mobilised to the scene, where they engaged the attackers in a gun duel.

According to the sources, the assailants fled into nearby bushes after being overpowered by superior firepower.

They added that no casualty was recorded during the encounter.

The sources further said security teams have commenced combing operations in surrounding bushes to track down and arrest the fleeing suspects.

They noted that additional deployments have been made to reinforce ongoing operations in the area, with efforts focused on restoring calm and preventing further clashes between the communities.

Security Operatives Repel Attack in Benue Community Over Land Dispute

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“Act Now or Lose the North”: KACRAN Issues Stark Warning as Insecurity Spirals Out of Control

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“Act Now or Lose the North”: KACRAN Issues Stark Warning as Insecurity Spirals Out of Control

By: Michael Mike

The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) has called on Northern leaders to set aside political differences and take decisive, collective action to address the worsening insecurity in Nigeria’s North-West and North-Central regions.

In a strongly worded press statement at the weekend signed by its National President, Hon. Khalil Mohammed Bello, the association expressed deep concern over the prolonged crisis, which it said has led to the deaths of thousands of innocent citizens, the destruction of property worth trillions of naira, and the widespread rustling of livestock—the primary source of livelihood for millions of families.

KACRAN described the situation as both tragic and avoidable, warning that continued inaction could inflict irreversible economic and political damage on the region.

The association particularly highlighted a disturbing report by Amnesty International concerning an incident in Kwara State, where several pastoralists—including women and children—were allegedly detained at a National Youth Service Corps (NYSC) orientation camp. According to the report, more than 150 detainees reportedly died due to disease and poor living conditions.

KACRAN called for a full, transparent investigation into the incident and demanded the immediate release of innocent individuals still in detention.

Central to KACRAN’s message is the assertion that Northern Nigeria possesses the resources and leadership required to end insecurity if there is genuine commitment. The group pointed to the region’s pool of experienced leaders—including former Heads of State, military officers, traditional rulers, and business figures—as critical assets that must be mobilized.

“The solution lies with us,” the statement emphasized, urging Northern stakeholders to take ownership of the crisis rather than shifting blame.

While calling for regional responsibility, KACRAN acknowledged efforts by President Bola Tinubu noting key security appointments and significant budgetary allocations—reportedly exceeding ₦5 trillion—to the defence sector as evidence of federal commitment.

However, the group cautioned that relying solely on the Federal Government without complementary local action would delay meaningful progress.

KACRAN also underscored the importance of dialogue, citing relative peace achieved in areas such as Birnin Gwari in Kaduna State and parts of Katsina State as proof that collaborative engagement among leaders can yield results.

Despite the reported incident, the association praised the Kwara State Government for its efforts in livestock development, particularly the creation of a dedicated ministry. It said these initiatives demonstrate goodwill toward pastoral communities, while urging authorities to ensure justice and prevent future occurrences.

KACRAN stressed the enduring unity of Northern Nigeria, warning against allowing political divisions to undermine shared heritage and coexistence.

“The North must not allow politics to destroy a house we all inhabit,” the statement read, calling for urgent action to restore peace, mutual respect, and stability across the region.

The association expressed hope that its appeal would galvanize leaders into coordinated action capable of ending the cycle of violence and rebuilding trust among communities.

“Act Now or Lose the North”: KACRAN Issues Stark Warning as Insecurity Spirals Out of Control

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