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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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Troops ambush terrorists along Marte–Dikwa road, recover logistics in Borno

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Troops ambush terrorists along Marte–Dikwa road, recover logistics in Borno

By: Zagazola Makama

Troops of Operation Hadin Kai have successfully ambushed Boko Haram/ISWAP terrorists along the Marte–Dikwa axis of Borno, forcing them to flee and abandoning logistics items.

A military source said the operation was conducted in the early hours of Thursday by a combined team of 50 Task Force Battalion/24 Task Force Brigade and 134 Special Forces Battalion, supported by volunteer forces.

The source disclosed that the troops, who had laid in wait at Momoh village along the Marte–Dikwa road, made contact with the insurgents moving on bicycles at about 12:45 a.m.

“On sighting the terrorists, the troops engaged them decisively, compelling them to retreat in disarray,” the source said.

He added that troops immediately carried out exploitation of the general area, leading to the recovery of eight bicycles believed to have been used by the insurgents for mobility, as well as some beverages suspected to be part of their logistics supply.

The Marte–Dikwa axis has remained a critical corridor in counter-insurgency operations, with sustained military pressure limiting the activities of insurgents in the area.

The source reaffirmed the commitment of troops to sustain aggressive operations to deny terrorists freedom of action and ensure the safety of communities across Borno.

Troops ambush terrorists along Marte–Dikwa road, recover logistics in Borno

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Army troops neutralized 8 Boko Haram in Borno failed attack, recover arms

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Army troops neutralized 8 Boko Haram in Borno failed attack, recover arms

By: Zagazola Makama

Troops of Operation Hadin Kai have successfully repelled a coordinated attack by Boko Haram/ISWAP terrorists on a Forward Operating Base in Mandaragirau, Borno, killing several insurgents and recovering arms and ammunition.

A military source told Zagazola Makama that the attack occurred in the early hours of Saturday when terrorists advanced from multiple directions toward the base.

According to the source, troops who had taken ambush positions engaged the insurgents with superior firepower, forcing them to retreat in disarray.

“The troops demonstrated resilience and tactical superiority, effectively repelling the assault and immediately launching a counter-exploitation along the terrorists’ withdrawal route, inflicting further casualties on the fleeing insurgents,” the source said.

He confirmed that no personnel of the Nigerian military was killed during the encounter, although one Mine-Resistant Ambush Protected (MRAP) vehicle was hit by a rocket-propelled grenade.

The source added that at least eight terrorists were neutralised during the operation, while troops recovered seven AK-47 rifles, eight magazines, four RPG bombs, and a cache of ammunition.

“Blood trails were observed along the withdrawal routes, indicating that several other insurgents escaped with gunshot wounds,” he said.

He further disclosed that injured personnel from the encounter were currently receiving treatment at a military medical facility in Biu.

Zagazola gathered that additional bodies of fleeing terrorists were sighted along their escape corridors toward the Timbuktu Triangle, a known insurgent enclave. We saw four more bodies,” said sources.

The military sources also revealed that abandoned weapons and casualties were observed in Garin Mallum and Garin Gajere, suggesting heavy losses suffered by the insurgents during the failed attack.

The military leadership urged to sustain the operational tempo, retain the initiative, and consolidate on the gains recorded against the insurgents.

Army troops neutralized 8 Boko Haram in Borno failed attack, recover arms

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Nigeria Positions Itself for Global Space Leadership at Satellite Week 2026

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Nigeria Positions Itself for Global Space Leadership at Satellite Week 2026

By: Michael Mike

Nigeria is set to sharpen its policy direction in the global space ecosystem as Nigerian Communications Satellite Limited prepares to host the 2026 Nigerian Satellite Week in Abuja.

The Managing Director of Nigerian Communications Satellite Limited, Jane Egerton-Idehen, disclosed this in a statement issued by the agency’s Head of Corporate Communications, Stephen Kwande, noting that the event will convene top government officials, regulators, and international stakeholders to shape the future of satellite governance and digital infrastructure.

Egerton-Idehen said the forum is coming at a critical time when countries around the world are strengthening their space capabilities as part of broader national development strategies.

According to her, satellite technology is increasingly linked to economic growth, national security, and digital connectivity, making strategic investments in space infrastructure a priority for many nations.

She explained that the conference is expected to attract high-level participation, including cabinet members, defence authorities, development finance institutions, and technology innovators from across Africa.

The NIGCOMSAT boss also highlighted Nigeria’s growing influence in global space policy, pointing to her emergence as Vice Chair of the Global Satellite Operators Association as a sign of the country’s expanding role in international satellite governance.

She further cited ongoing collaboration between Nigeria and the Kenya Space Agency as part of broader efforts to strengthen partnerships within Africa’s evolving space ecosystem.

Egerton-Idehen described the upcoming satellite week as both a reflection of Nigeria’s 20-year journey in satellite development and a strategic platform to define the country’s next phase in an increasingly competitive global space economy.

Nigeria Positions Itself for Global Space Leadership at Satellite Week 2026

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