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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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IGP launches Zulum’s distribution of 110 vehicles, 280 houses to police, others

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IGP launches Zulum’s distribution of 110 vehicles, 280 houses to police, others

By: Our Reporter

Borno State Governor Babagana Umara Zulum has distributed 110 brand new operational vehicles, 500 motorcycles and 280 houses to the Nigeria Police Force and other security agencies. 

The distribution was flagged off by the Inspector-General of Police, Kayode Egbetokun, who commended the initiative and described the governor as a “performing governor” in the fight against insecurity in the North East.

The ceremony, held at the Government House in Maiduguri, was attended by top security officials, including the theatre commander of Operation Hadin Kai, Major General Waidi Shuibu; Deputy and Assistant Inspectors-General of Police and others.

According to the distribution formula, 60 vehicles will be allocated to the Nigerian Police and 50 vehicles and 500 motorcycles to the Nigerian military.

Similarly, the police will be allocated 220 houses at Mai Mala Buni Estate, 20 at Kashim Shertima Estate and another 40 at Wulari, all in Maiduguri.

In his address, Governor Zulum emphasised the importance of supporting security forces with the necessary tools which, he said, would enhance their efficiency and dedication to duty.

“Today marks a significant step in our unwavering commitment to strengthening the security architecture of Borno State; we are gathered here to present 100 operational vehicles, 500 motorcycles and housing quarters to members of the Nigerian Police Force and military, as the case may be, who tirelessly serve and sacrifice to safeguard our communities.

“This modest gesture continues our government’s commitment to the security agencies, which are the cornerstones for achieving peace, progress, and development in our state.
 
“These vehicles will enhance their mobility, improve their response times, and bolster their operational capabilities in the fight against insecurity and social vices,” Zulum states.

The governor commended President Bola Ahmed Tinubu for his leadership in supporting the security agencies. 

Governor Zulum also expressed his commitment to rendering his services to the security organisations.

He said: “We are grateful to the Federal Government of Nigeria, under the distinguished leadership of President Bola Ahmed Tinubu, GCFR, for providing strategic leadership and unalloyed support to our security agencies as they work assiduously to safeguard  the life and property of our citizens.
 
“Under my watch, the Borno State Government has maintained a cordial relationship with our security forces. We realised that without security, the recovery of our state from insecurity, Insurgency and decadence would not yield the desired result. 

“By supporting our security forces, we are investing in force multiplier, speed of action and timely response of the armed forces and security agencies to our daunting security challenges. We are committed to working together to address the insecurity issues and build a safer and more prosperous future for our people.”

In his remarks, the IGP expressed gratitude to Governor Zulum for what he described as massive support.

 Egbetokun said: “These operational assets, including 110 vehicles and 500 motorcycles, will, no doubt, enhance our operational capacity. They will enable us to respond more effectively to emergencies in the state. They will also enable us to patrol our communities more efficiently, ultimately improving the delivery of services to the people of Borno State.

“I thank you, your Excellency, once again, for this gesture; I also want to assure you, Your Excellency, that these operational assets are going to be put to immediate operational use to enhance the security of the people of Borno State tate.”

IGP launches Zulum’s distribution of 110 vehicles, 280 houses to police, others

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FG Insists Christians are Not Targeted for Killings in Nigeria

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FG Insists Christians are Not Targeted for Killings in Nigeria

By: Michael Mike

The federal government has moved to counter the narrative that Christians are targeted for killings in part of Nigeria, stating that it is the work of fifth columnists aiming that the country should be designated a Country of Particular Concern (CPC) by the international community.

A statement on Friday by the spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa read: “The Ministry of Foreign Affairs wishes to express strong concern over the recent wave of misinformation and misleading reports regarding the supposed targeted killings of Christians in Nigeria. The unfortunate development is intended to influence foreign governments, especially the United States Government, to designate Nigeria a Country of Particular Concern (CPC), due to the violence against Christians.

“While the Federal Government acknowledges the security challenges confronting the nation, it is imperative to clarify that these negative activities are not driven by religious bias, nor targeted against any particular religious group. It should be noted that the majority of incidents relating to insurgency and banditry that occur in the predominantly Muslim northern part of Nigeria are not targeted at followers of a particular faith or religion. Any narrative that seeks to give such incidents a coloration of religious persecution is erroneous and misleading.

“Nigeria is a multi-ethnic and multi-religious nation and the government remains committed to protecting the lives and properties of all citizens, irrespective of faith, ethnicity, or gender. The security issues in Nigeria are complex and multifaceted and manifest as criminality, terrorism and communal clashes – including farmer/herder confrontation, that do not have any religious connotation.”

The statement added that: “The government of Nigeria, under the leadership of President Bola Ahmed Tinubu, has taken significant steps to address these security concerns, including the deployment of security forces, intelligence gathering and community engagement initiatives. Indeed, the military has recorded substantial gains in curtailing the activities of bandits and insurgents. To bring an end to such security challenges, both the Federal and State authorities have embarked on kinetic and non-kinetic methods and expedited the implementation of the national livestock plan.

“To this end, a Ministry of Livestock Development has been established while a Special Adviser and Coordinator of Livestock Reforms, has been appointed to find sustainable solutions to pastoral farming, with a view to end contestations over land, between farmers and pastoral herders.

“The Ministry of Foreign Affairs, therefore, urges the international community to exercise caution and verify information before drawing conclusions or making statements that could exacerbate tensions within Nigeria. We call on all stakeholders, including the media, civil society organizations and foreign partners, to refrain from spreading unverified claims that could undermine national unity and stability.

“Nigeria remains a beacon of religious tolerance and coexistence in Africa and is committed to preserving this heritage. We welcome constructive dialogue and support from the international community in addressing our security challenges. However, we strongly reject any attempts to wrongly designate the country, distort the narrative, or sow seeds of discord among our people.”

FG Insists Christians are Not Targeted for Killings in Nigeria

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Troops Foil Bandit Attack in Dabai Town, Kebbi

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Troops Foil Bandit Attack in Dabai Town, Kebbi

By: Zagazola Makama

A swift response by the Nigerian troops in Kebbi has foiled a bandit attack on Dabai Town, forcing the assailants to flee after a gun battle with security operatives.

Intelligence sources told Zagazola Makama that the attack occurred around 2 a.m. when suspected bandits attempted to invade the town.

“Security forces were immediately dispatched to intercept the assailants and engaged them in a fierce exchange of gunfire,” the source said. “Overwhelmed by superior firepower, the bandits abandoned their mission and escaped.”

While no casualties were reported, security operatives have intensified patrols in the area to prevent further attacks.

Troops Foil Bandit Attack in Dabai Town, Kebbi

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