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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)
Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents
By: Zagazola Makama
Troops of Operation HADIN KAI have repelled a Boko Haram/ISWAP terrorist infiltration into Kanama town, neutralising four insurgents during a swift response operation in Borno State.
Security sources said the incident occurred at about 6:00 p.m. on April 22 when troops of 159 Battalion, deployed in Kanama, responded to sounds of gunfire within the town.
On arrival, the troops reportedly discovered that terrorists had infiltrated parts of the community.
The troops immediately made contact and engaged the attackers with disciplined fire, forcing them to retreat in disarray.
Subsequent exploitation of the general area led to the neutralisation of four terrorists.
One member of the Civilian Joint Task Force (CJTF) sustained injuries during the encounter and has been evacuated for medical attention.
No military equipment was lost during the operation.
Items recovered from the terrorists include two torchlight mobile phones and the sum of ₦21,000.
Security sources said the general situation across the theatre remains calm but unpredictable, while troops’ morale and fighting efficiency remain high.
Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents
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Dramatic Testimony Rocks Nwaukoni Terrorism Trial In Asaba — Doctor Confirms Gunshot Wounds In Palace Attack Case
Dramatic Testimony Rocks Nwaukoni Terrorism Trial In Asaba — Doctor Confirms Gunshot Wounds In Palace Attack Case
The high-profile terrorism trial in Charge No. FHC/ASB/18C/2024 took a dramatic and gripping turn this week at the Federal High Court, Asaba, as explosive evidence and powerful witness testimonies continue to unfold against Mike Nwaukoni (aka “Supu”) and his alleged accomplices.
Standing trial alongside him are prominent figures including Barrister Francis Okolie, Secretary of the Ogwashi-Uku Development Association (ODA), and Mazi Elue Adigwe, the association’s Secretary-General, among others accused in connection with the violent October 12, 2023 attack on the Palace of the Obi of Ogwashi-Uku.
🔴 Doctor’s Testimony Leaves Court in Silence
In what court observers have described as one of the most chilling moments of the trial so far, Dr. Ezeike Ugochukwu Godwin took the witness stand and delivered a clinical yet deeply emotional account of the injuries sustained by a vigilante operative assigned to protect the Palace.
The doctor confirmed that the victim suffered multiple gunshot wounds, including injuries to the head and upper limbs, describing in precise medical terms the severity of the trauma.
According to his testimony, the victim was brought into the emergency unit in a state of intense pain and critical distress, alongside several others wounded during the attack.
Dr. Ezeike further told the court that the patient was referred from the Divisional Police Headquarters in Ogwashi-Uku, reinforcing the official chain of response following the violent incident.
🔴 Police Investigator Details Chaos and Destruction
A day earlier, on April 21, 2026, the court heard from Inspector Ijeoma Ovat, the initial Investigating Police Officer (IPO), who painted a harrowing picture of the aftermath of the attack.
She testified about the widespread chaos, multiple casualties, and destruction that followed the invasion of the Palace during the controversial Ineh Festival. Crucially, she tendered photographic evidence showing heavily damaged police and vigilante vehicles, corroborating claims of a coordinated and violent assault.
Sources within the prosecution confirm that the damage to the vehicles was extensive and consistent with armed aggression.
🔴 Witnesses Tie Defendants to Armed
AssaultEarlier testimonies in the trial have reportedly identified the defendants as active participants, alleging they were armed with guns and other dangerous weapons during the attack. Witnesses have also pointed to Mike Nwaukoni as a central figure who allegedly instigated and coordinated the operation.
🔴 Passport Request Sparks Legal Firestorm
In a fresh development that has further intensified proceedings, lead prosecutors in the case including CSP Samuel Mallum Esq and A.I Aminu Esq from the Police Legal Directorate in Abuja have strongly opposed an application by Nwaukoni’s legal team seeking the temporary release of his international passport for overseas travel.
According to sources, the prosecution argued that granting such a request poses a serious flight risk, warning that the defendant could attempt to evade justice, seek asylum, or acquire foreign citizenship.
The prosecution also suggested that the move may be a deliberate tactic to delay the trial, particularly as significant portions of the case have already been established.
The matter has been adjourned for further consideration, with hearings expected to resume in late May, continuing into early June 2026.
🔴 Calm Returns to Ogwashi-Uku Amid Trial
Meanwhile, community sources in Ogwashi-Uku report a notable return of peace and stability since the commencement of the trial. Residents have expressed hope that the judicial process will be seen through to a swift and just conclusion, bringing lasting closure to one of the most serious security incidents in the Kingdom’s recent history.
Dramatic Testimony Rocks Nwaukoni Terrorism Trial In Asaba — Doctor Confirms Gunshot Wounds In Palace Attack Case
Troops Intercept Suspected Terrorist Logistics Supplier, Seize PMS in Borno
By: Zagazola Makama
Troops of Operation HADIN KAI have arrested a suspected ISWAP/JAS logistics supplier and intercepted a large quantity of Premium Motor Spirit (PMS) concealed in a tricycle in Borno State.
Security sources said the suspect was apprehended at about 9:10 a.m. on April 21 by troops of 159 Battalion at a checkpoint within Sector 2 Area of Responsibility.
The suspect was reportedly conveying PMS concealed in 15 sacks, disguised with bags of sachet water in an attempt to evade detection.
Preliminary investigations indicated that the consignment was being transported to Kanama town and neighbouring communities around Dikwa and Bultuwa, areas believed to be within terrorist influence.
Items recovered from the suspect include a mobile phone and the sum of ₦34,950.
The sources said the suspect and recovered exhibits are in military custody for further investigation and necessary action.
They added that the interception forms part of ongoing operations aimed at disrupting terrorist logistics networks and denying them access to critical supplies across the North-East theatre.
Troops Intercept Suspected Terrorist Logistics Supplier, Seize PMS in Borno
Troops Clear Terrorist Enclaves, Recover Items in Katsina Operation
Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents
Troops Respond to Attack in Zamfara, IED Incident Recorded Without Casualties
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