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UN Report: 2024 Could Errand Protracted Period of Low Growth
UN Report: 2024 Could Errand Protracted Period of Low Growth
By: Michael Mike
A United Nations flagship economic report has raised an alarm that protracted period of low growth looms large, and could undermine progress on sustainable development.
According to the report released on Friday, weakening global trade, high borrowing costs, elevated public debt, persistently low investment, and mounting geopolitical tensions put global growth at risk.
The global economic growth is projected to slow from an estimated 2.7 per cent in 2023 to 2.4 per cent in 2024, trending below the pre-pandemic growth rate of 3.0 per cent, according to the United Nations World Economic Situation and Prospects (WESP) 2024, launched on Friday.
This latest forecast comes on the heels of global economic performance exceeding expectations in 2023. However, last year’s stronger-than-expected GDP growth masked short-term risks and structural vulnerabilities, according to the report.
The UN’s flagship economic report presents a sombre economic outlook for the near term. Persistently high interest rates, further escalation of conflicts, sluggish international trade, and increasing climate disasters, pose significant challenges to global growth.
The report stated that the prospects of a prolonged period of tighter credit conditions and higher borrowing costs present strong headwinds for a world economy saddled with debt, while in need of more investments to resuscitate growth, fight climate change and accelerate progress towards the Sustainable Development Goals (SDGs).
Reacting to the report, the United Nations Secretary- General, António Guterres, said: “2024 must be the year when we break out of this quagmire. By unlocking big, bold investments we can drive sustainable development and climate action, and put the global economy on a stronger growth path for all,” adding that:
“We must build on the progress made in the past year towards an SDG Stimulus of at least $500 billion per year in affordable long-term financing for investments in sustainable development and climate action.”
The report stated that growth in several large, developed economies, especially the United States, is projected to decelerate in 2024 given high interest rates, slowing consumer spending and weaker labour markets. The short-term growth prospects for many developing countries – particularly in East Asia, Western Asia and Latin America and the Caribbean – are also deteriorating because of tighter financial conditions, shrinking fiscal space and sluggish external demand.
Low-income and vulnerable economies are facing increasing balance-of-payments pressures and debt sustainability risks. Economic prospects for small island developing States, in particular, will be constrained by heavy debt burdens, high interest rates and increasing climate-related vulnerabilities, which threaten to undermine, and in some cases, even reverse gains made on the SDGs, according to the report.
The report further showed that global inflation is projected to decline further, from an estimated 5.7 per cent in 2023 to 3.9 per cent in 2024. Price pressures are, however, still elevated in many countries and any further escalation of geopolitical conflicts risks renewed increases in inflation.
In about a quarter of all developing countries, annual inflation is projected to exceed 10 per cent in 2024, the report highlighted, showing that since January 2021, consumer prices in developing economies have increased by a cumulative 21.1 per cent, significantly eroding the economic gains made following the COVID-19 recovery. Amid supply-side disruptions, conflicts and extreme weather events, local food price inflation remained high in many developing economies, disproportionately affecting the poorest households.
“Persistently high inflation has further set back progress in poverty eradication, with especially severe impacts in the least developed countries,” said United Nations Under- Secretary-General for Economic and Social Affairs, Li Junhua,.
He said: “It is absolutely imperative that we strengthen global cooperation and the multilateral trading system, reform development finance, address debt challenges and scale up climate financing to help vulnerable countries accelerate towards a path of sustainable and inclusive growth.”
According to the report, the global labour markets have seen an uneven recovery from the pandemic crisis. In developed economies, labour markets have remained resilient despite a slowdown in growth. However, in many developing countries, particularly in Western Asia and Africa, key employment indicators, including unemployment rates, are yet to return to pre- pandemic levels. The global gender employment gap remains high, and gender pay gaps not only persist but have even widened in some occupations.
Stronger international cooperation needed to stimulate growth and promote green transition.
It advised that Governments will need to avoid self-defeating fiscal consolidations and expand fiscal support to stimulate growth at a time when global monetary conditions will remain tight, adding that Central banks around the world continue to face difficult trade-offs in striking a balance between inflation, growth and financial stability objectives. Developing country central banks, in particular, will need to deploy a broad range of macroeconomic and macroprudential policy tools to minimize the adverse spillover effects of monetary tightening in developed economies.
Furthermore, the report emphasized that robust and effective global cooperation initiatives are urgently needed to avoid debt crises and provide adequate financing to developing countries. Low-income countries and middle-income countries with vulnerable fiscal situations need debt relief and debt restructuring to avoid a protracted cycle of weak investment, slow growth and high debt-servicing burdens.
It added that in addition, global climate finance must be massively scaled up. Reducing – and eventually eliminating – fossil fuel subsidies, following through on international financing commitments, such as the $100 billion pledge to support developing countries, and promoting technology transfer are critical for strengthening climate action worldwide. It also underscores the ever- increasing role of industrial policies to bolster innovation and productive capacity, build resilience and accelerate a green transition.
UN Report: 2024 Could Errand Protracted Period of Low Growth
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UNESCO, CWAY Group Partner to Empower Corps Members on Reproductive Health, Life Skills
UNESCO, CWAY Group Partner to Empower Corps Members on Reproductive Health, Life Skills
By: Michael Mike
A strategic collaboration between UNESCO and the CWAY Group is equipping National Youth Service Corps (NYSC) members with critical knowledge on sexual and reproductive health, life planning, and community development.
The initiative, unveiled during an orientation programme, is part of a broader social responsibility effort aimed at reducing risky behaviours among young people while preparing them to become productive contributors to Nigeria’s development.
Speaking at the event, the National Project Officer and Head of Education Sector a.i with UNESCO, Mr. Adeyemi Oladeji explained that the intervention focuses on providing early and accurate information to corps members, particularly during their three-week orientation camp, a period often associated with exposure to risky sexual behaviour.
“This is a preventive approach,” he said. “If young people are properly informed early, they are more likely to make responsible decisions that will not derail their life goals.”
The programme addresses key issues such as teenage pregnancy, gender-based violence, HIV prevention, and life skills development. It is also designed to help young people align their personal ambitions with national development goals, ultimately contributing to Nigeria’s demographic dividend.
A key component of the initiative is the training of selected corps members under the Sustainable Development Goals (SDGs) and HIV Community Development Service (CDS) groups as master trainers. These trained volunteers will extend the campaign beyond schools by engaging out-of-school youths, particularly those in informal sectors such as mechanics, barbers, and hairdressers.
According to Oladeji, out-of-school youths remain among the most vulnerable due to limited access to accurate information and social support systems.
“Most interventions target young people in formal education, but those outside the school system are often neglected despite being highly vulnerable,” he noted.
The trained corps members will conduct community outreach programmes, peer education sessions, and sensitisation campaigns, especially in underserved areas where access to government services is limited. The initiative also emphasizes peer-to-peer education, recognizing that young people are more likely to confide in and learn from their peers.
In addition, the programme integrates voluntary HIV testing services in partnership with health organisations, encouraging corps members to know their status and adopt healthier lifestyles.
“If you know your status, you can take control of your health—whether it means staying negative or managing a positive status effectively,” Oladeji added.
Beyond the camps, the intervention extends to schools and communities. Teachers are being trained to deliver Family Life and HIV Education, while community and religious leaders are being engaged to support the reintegration of out-of-school children, particularly girls affected by early pregnancy or economic hardship.
The initiative is currently being implemented in several states, including Lagos, Ogun, Enugu, and the Federal Capital Territory, in collaboration with the National Youth Service Corps, the Federal Ministry of Youth, and the Federal Ministry of Education.
Early feedback indicates strong interest among corps members, many of whom have volunteered to participate as peer educators and community influencers.
Organisers described the response as “encouraging,” noting that participants are eager to make meaningful impact during their service year and beyond.
“This is just the beginning,” Oladeji said. “We are building a generation of informed, responsible young people who can influence others and drive positive change in their communities.”
UNESCO, CWAY Group Partner to Empower Corps Members on Reproductive Health, Life Skills
News
Athena Centre Launches 2026 Junior Fellowship to Groom Next Generation of Policy Leaders
Athena Centre Launches 2026 Junior Fellowship to Groom Next Generation of Policy Leaders
By: Michael Mike
The Athena Centre for Policy and Leadership has officially announced the commencement of its 2026 Athena-Anchoria Junior Fellowship Programme, marking a significant step in efforts to nurture young leaders in governance and public policy across Nigeria.
The programme, which began on April 25, 2026 in Abuja, is being delivered in partnership with Anchoria Advisory Services Limited.

Speaking on the initiative, the firm’s Managing Director and CEO, Sam Chidoka, emphasized the long-term vision behind the fellowship, noting that investing in capable young minds is essential to shaping Nigeria’s policy future.
A statement on Monday by the Centre, read that following a rigorous nationwide selection process, 14 exceptional young Nigerians were admitted into the 2026 cohort. The fellows were chosen based on academic excellence, leadership potential, and a demonstrated commitment to governance and public policy.
The cohort reflects a broad national spread, drawing participants from all six geopolitical zones. Representatives from the Southeast include Kosisochukwu Praise Bosah, Adaobi Patience Ayogu, and Daniel Kelechi Nnamani. From the Southwest are Ezekiel Adeshina Adebisi and Eunice Iyanuoluwa Olasunkanmi, while the South-South is represented by Angelica Onagiekhuwemhe Enegbuma and Shedrack James Owen.

The Northwest contingent comprises Yahaya Abubakar, Hassan Suleiman Haruna, and Rashida Bafashi Abubakar. From the Northeast are Gabriel Mohammed Shuwa and Mohammed Baba Kale, while the North-Central zone is represented by Augustina Enuwa Abakpa and Muhammad Saheed Afodun.
According to the statement, participants come from diverse academic backgrounds, including political science, law, mass communication, medicine, and other science-based disciplines. The group consists of undergraduates, postgraduate students, and early-career professionals drawn from top Nigerian universities.
The six-month fellowship is designed as a leadership and policy development programme aimed at building a pipeline of reform-oriented leaders. It will begin with virtual learning sessions, followed by sustained engagement and mentorship, and conclude with an intensive in-person session.
Through structured training, mentorship, and hands-on policy engagement, fellows will gain practical insights into governance challenges and institutional reform strategies.

The launch of the 2026 cohort reinforces the Athena Centre’s commitment to strengthening policy capacity and developing a new generation of leaders equipped to drive meaningful change in Nigeria.
Athena Centre Launches 2026 Junior Fellowship to Groom Next Generation of Policy Leaders
News
Nigeria No Longer Safe Haven for Drug Cartels, Says UNODC
Nigeria No Longer Safe Haven for Drug Cartels, Says UNODC
By: Michael Mike
The United Nations Office on Drugs and Crime (UNODC) has declared that Nigeria is no longer a permissive environment for international drug cartels, citing a surge in arrests, seizures, and convictions driven by reforms within the National Drug Law Enforcement Agency (NDLEA).
The UNODC Country Representative, Cheikh Toure, made the statement in Abuja on Monday during the handover of newly constructed audiovisual interview rooms to the NDLEA.

The facilities, equipped with modern interrogation technology, were provided by UNODC with funding support from the United States International Narcotics and Law Enforcement Affairs (US-INL).
Toure described transnational drug trafficking as one of the most destabilizing global threats, linking it to corruption, violence, and the exploitation of vulnerable populations. He noted that Nigeria’s geographic position has historically made it both a target and transit hub for drug networks spanning Latin America, Asia, and Africa.

However, he said recent enforcement efforts have significantly altered that narrative.
“Under the leadership of Mohamed Buba Marwa, the NDLEA has demonstrated remarkable courage and professionalism,” Toure said, adding that the agency’s intensified operations since 2021 have sent a strong deterrent message to organized criminal groups.
He further emphasized that international collaboration remains critical, commending the United States government for its financial support. According to him, the newly donated facilities represent more than infrastructure, describing them as an investment in transparency, accountability, and the rule of law.
The UNODC chief also called for the replication of such modern interrogation systems across NDLEA commands nationwide to strengthen investigative capacity.
In his response, NDLEA Chairman, Buba Marwa, expressed appreciation to both UNODC and US-INL for their continued partnership, assuring that the agency is prepared to build on recent gains.

“We are not just commissioning rooms; we are strengthening the integrity of our investigative process,” he said.
Marwa highlighted that the agency is undergoing a major digital transformation, and the integration of advanced interrogation technology would enhance operational efficiency and align Nigeria’s law enforcement standards with global best practices.
He described the facilities as a symbol of international trust and a boost to the agency’s capacity to deliver justice effectively, while reaffirming NDLEA’s commitment to professionalism, transparency, and respect for human rights.
The event was attended by senior officials from UNODC, NDLEA, and the US-INL, including Deputy Director Douglas Grane.
The latest development underscores growing international confidence in Nigeria’s anti-narcotics efforts and signals a shift in the country’s role in the global fight against drug trafficking.
Nigeria No Longer Safe Haven for Drug Cartels, Says UNODC
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