World

Ukraine war could increase shocks for developing countries, UN warns

Published

3 years ago

April 13, 2022

Ukraine war could increase shocks for developing countries, UN warns

UN on Tuesday warned that the fallout from the war in Ukraine could dramatically worsen the economic outlook for developing countries already grappling with debt financing related to the COVID-19 pandemic.

UN, in a report published on Tuesday, stated that while rich nations were able to support their pandemic recovery with record sums borrowed at ultra-low interest rates, the poorest countries spent billions servicing debt, thus preventing them from investing in sustainable development.

COVID-19 pushed 77 million more people into extreme poverty in 2021 while many economies remained below pre-2019 levels, according to the” Financing for Sustainable Development Report: Bridging the Finance Divide.” report.

Furthermore, it is estimated that one in five developing countries will not see their Gross Domestic Product (GDP) return to 2019 levels by the end of 2023, even before absorbing the impacts of the Ukraine conflict, which is already affecting food, energy, and finance across the globe.

The report was produced by the UN Department of Economic and Social Affairs (DESA) together with more than 60 international agencies, including within the UN system, and international financial institutions.

UN Deputy Secretary-General Amina Mohammed described the findings as “alarming”, given that the world is at the halfway mark for financing the Sustainable Development Goals (SDGs).

“There is no excuse for inaction at this defining moment of collective responsibility, to ensure hundreds of millions of people are lifted out of hunger and poverty.

“We must invest in access for decent and green jobs, social protection, healthcare and education leaving no one behind,” she said.

The report reveals that on average, the poorest developing countries pay around 14 per cent of revenue for interest on their debt, while the figure is 3.5 per cent for richer nations.

The pandemic forced governments to cut budgets for education, infrastructure and another capital spending.

Fallouts from the war in Ukraine – such as higher energy and commodity prices, as well as renewed supply chain disruptions – will only exacerbate these challenges and spark new ones.

The war is also likely to result in further increases in debt distress and increased hunger, further widening “pandemic recovery gaps” that existed before the conflict.
Liu Zhenmin, the DESA chief, pointed to a potential silver lining for the way forward.

“The developed world proved in the last two years that millions can be lifted out of poverty by the right kind of investment – in resilient and clean infrastructure, social protection or public services.

“The international community must build on that progress, and ensure developing countries can invest at similar levels while reducing inequality and securing a sustainable energy transition,” he said.

The past year was also marked by some advances in poverty reduction, social protection and investment in sustainable development, driven by actions in developed countries and some large developing nations, including some 17 trillion dollars in COVID-19 emergency spending.

Additionally, Official Development Assistance (ODA) reached 161.2 billion dollars in 2020, the highest level ever.
However, 13 governments also cut this support to developing countries, and the record sum is still insufficient to meet the vast needs.

The UN fears that increased spending on refugees in Europe, another fallout of the war in Ukraine, could lead to cuts in aid to the world’s poorest countries.
To bridge the “great finance divide”, the report calls for countries to urgently address financing gaps and rising debt.

This can occur through several measures, such as speeding up debt relief and expanding eligibility to highly indebted middle-income countries.

“It would be a tragedy if donors increased their military expenditure at the expense of Official Development Assistance and climate action.

“It would be a tragedy if developing countries continue to default, at the expense of investments in social services and climate resilience,” Mohammed said.

News

GSS OMU-ARAN, GATEWAY SET, CELEBRATES GOLDEN JUBILEE WITH LEGACY PROJECTS

Published

3 weeks ago

July 3, 2025

Ochuwa Ibrahim

GSS OMU-ARAN, GATEWAY SET, CELEBRATES GOLDEN JUBILEE WITH LEGACY PROJECTS

By: Michael Mike

All is now set as the 1971-1975 set of Government Secondary School, Omu Aran, Kwara State, otherwise known as the Gateway Set, will on Friday July 4, celebrate its 50th year anniversary, with series of legacy projects.

In a statement in Ilorin by Prof. Tajudeen Akanji, Chairman, Central Planning Committee, said many activities have been lined up for the celebration of the Golden Jubilee, on Friday.

According to him, activities lined up for the day include the launch and dedication of some legacy projects by the Old Boys, visit to His Royal Highness, the Olomu of Omu Aran and a communal walk.

He added that the Kwara State Government has indicated its willingness to partner with the set to construct and uplift some identified infrastructural facilities in the school.

Other events lined up for the Day is a lecture on : NATIONAL DEVELOPMENT AND THE IMPERATIVE OF PEACE AND SECURITY to be delivered by Comrade Isa Aremu, Director General, Michael Imodu Institute for Labour Studies, Ilorin and staging of a play: Flight Ticket by the school drama group.

Dignitaries expected at the event to be chaired by Major General Yemi Abidoye rtd, include representatives of Kwara State Government, Royal fathers and other important dignitaries, many of whom have made impacts in their fields of endeavours.

Some of the dignitaries who were also almunus of the College were Bishop Caleb Atolagbe, Mr Olusegun Abifarin, the first alumnus to become the principal of the school and indeed the longest serving principal of the school. Others include; Alhaji Mufutaudeen Balogun, a former MD of Harmony Security, Dr Dele Ige, Dr Segun Dogunro and Dr Depo Agboola, Engineers Kayode Adeoti, Dauda Awojobi and Jacob Oyedepo Navy Captain Yekini Mustafa, Chief Stephen Ayelabola, Mr Tunji Oyinloye, Adegoke Olanrewaju, James Aina, Professor Tajudeen Akanji, Professor Funsho Afolayan, Professor Olabode Bamgbola, among several others.

GSS OMU-ARAN, GATEWAY SET, CELEBRATES GOLDEN JUBILEE WITH LEGACY PROJECTS

News

Israel/Iran Crisis: Nigerians in Tehran Have Not Been Abandoned to Fate, Says FG

Published

1 month ago

June 21, 2025

Ochuwa Ibrahim

Israel/Iran Crisis: Nigerians in Tehran Have Not Been Abandoned to Fate, Says FG

By: Michael Mike

The federal government has debunked the reported claim that Nigeria has abandoned citizens in Tehran, Iran to their fate as Israeli bombs continue it drop.

A statement on Saturday by the spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa read: “The attention of the Ministry of Foreign Affairs of the Federal Republic of Nigeria has been drawn to misleading and unfounded reports circulating on social media and certain news platforms that the Embassy of Nigeria in Tehran, Iran, has abandoned Nigerian nationals and departed the country due to the ongoing crisis with Israel.

“The Ministry categorically debunks these allegations and assures the public, particularly Nigerian citizens in Iran, that the Embassy of Nigeria in Tehran remains operational and committed to the welfare and safety of all Nigerian nationals in Iran. The consistent bombing in Tehran has, however, disrupted normal work schedules and forced staff to work remotely.”

The statement added that: “Given this unfortunate development, the Embassy is actively engaging with the Government of Armenia to grant access for the evacuation of Nigerians via Yerevan.

“Moreover, Nigerians in Iran requiring assistance are encouraged to contact the Embassy directly through its official emergency contacts:
Mr. Esson Anzaku +989393216872 and Abutalib +989024199018 ‪+989393216872, and emails: Nigeria.tehran@mfa.gov.ng
anzakuesson02@gmail.com and lawshed@yahoo.com.”

The statement added that: “Nigerians in Iran are also advised to contact the various designated coordinators of the Nigerian Community in these three locations as earlier arranged.

“The Embassy has also advised members of the Nigerian Community to download the Iranian local messaging app, eitaa, and join the Nigerian group for regular updates.”

The statement further assured: “The Ministry of Foreign Affairs remains vigilant in monitoring the situation and will continue to take all necessary measures to safeguard the interests of Nigerians worldwide.”

Israel/Iran Crisis: Nigerians in Tehran Have Not Been Abandoned to Fate, Says FG

World

China has shown to be Africa’s friend, development partner, Insists Stakeholders

Published

2 months ago

June 4, 2025

Ochuwa Ibrahim

China has shown to be Africa’s friend, development partner, Insists Stakeholders

By: Michael Mike

Stakeholders in diplomacy, academia, and the media have dismissed the claim that China has ulterior motives in Africa, insisting that the Chinese Government has come to the continent as a friend and key development partner.

They made this point at the Media Executives Forum and Book Launch held in Abuja at the China Cultural Centre.

The event, which featured the unveiling of Balancing the Narrative: China-Africa Relations authored by seasoned diplomatic journalist Raphael Oni, brought together diplomats, media professionals, and scholars to discuss the impact and perception of China’s growing involvement in Africa.

Speaking at the launch, Oni, who recently participated in a media training programme in China, described the book as a product of his experience and research.

He said: “There is a gap in understanding China’s role in Africa. A lot of misinformation is being circulated, especially through Western media. This book is my effort to correct that.”

Oni, who is the Editor-in-Chief of Diplomatic Extra, a magazine dedicated to foreign affairs and diplomatic reports, pointed to China’s numerous contributions in areas such as infrastructure, education, and technology, citing projects like roads, railways, and airport construction supported by Chinese funding and expertise.

He also highlighted capacity-building programmes that send Nigerian professionals and students to China for training.

on his part, the Director, Centre for Chinese Studies in Nigeria, Mr. Charles Onunaiju, commended Oni’s work, stating that it contributes to knowledge-driven cooperation. He noted that: “There are myths surrounding China-Africa relations, but what we need is deeper understanding and accurate information.”

In his remarks, the President of the African Union of Journalists and erstwhile President of Nigeria Union of Journalists, Mr. Christopher Isiguzo, urged Nigerian political leaders to emulate China’s development-driven approach. “China’s progress is rooted in long-term planning and strong national vision. We can learn a lot from that,” he said.

Diplomatic representatives from the High Commissions of Sierra Leone and Malaysia, as well as the Ambassador of Mexico to Nigeria, also delivered goodwill messages. They praised the book and emphasized the importance of cultural and media exchanges in building international partnerships.

Participants at the event called for greater collaboration between African and Chinese media to present more balanced narratives and foster mutual understanding. They urged African journalists to take the lead in shaping the continent’s global image by telling stories grounded in fact and experience.

The forum concluded with a consensus that China remains a reliable ally in Africa’s development journey and that dispelling misinformation through responsible journalism is essential for strengthening bilateral ties.

China has shown to be Africa’s friend, development partner, Insists Stakeholders