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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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Is Russia Afraid of a Free Press in Africa?
Is Russia Afraid of a Free Press in Africa?
By Oumarou Sanou
The recent reaction by the Russian Embassy in Abuja to opinion articles published in various media, even though it singled out THISDAY and The Sun, raises a question that should concern every African and especially Nigerians who value democracy: when confronted with uncomfortable facts and legitimate scrutiny, does Russia engage with evidence, or does it attack the messenger?
Rather than addressing the substance of the arguments raised about insecurity in the Sahel and the conduct of Russian-linked mercenaries, the Embassy chose a familiar authoritarian playbook: dismiss the writers as “paid,” question their legitimacy, and attempt to intimidate independent media platforms for publishing alternative views. This response says far more about Russia’s discomfort with free media than it does about the articles themselves.
Let us be clear. The articles in question were not an attack on Russia as a nation or its people. They were a critical examination of documented events in Mali and the wider Sahel—events reported not only by African journalists but also by international organisations, people, conflict monitors, and, ironically, by the mercenaries themselves on their own digital channels. To conflate scrutiny of actions with hostility toward a state is a tactic often used by regimes that fear accountability.
If Russia believes the facts are wrong, the burden is simple: present counter-evidence. Journalism is not theology; it is not immune to correction. Any responsible journalist, academic or analyst will acknowledge an error when credible proof is provided. What is unacceptable is to replace evidence with insults, or to imply that African media, researchers and intellectuals must seek approval before publishing views that do not flatter foreign powers.
The Embassy’s statement also raises an uncomfortable implication: is Russia now openly assuming ownership or responsibility for mercenary operations in Mali, Burkina Faso, and Niger? If not, why rush to defend them so aggressively? Mercenaries—by definition—are not instruments of sustainable security anywhere in Africa. From Sierra Leone in the 1990s to Libya and now the Sahel, the record is consistent: they deepen violence, weaken national forces, and leave societies more fractured than they found them.
The Embassy insists that reports of abuses are “fake news.” Yet many of the most disturbing confirmations of violence have come from the fighters themselves, shared on verified Telegram channels long before journalists or rights groups referenced them. Are those messages also Western fabrications? Or are we now expected to believe that mercenaries boasting online suddenly become victims of misinformation when their actions attract scrutiny?
More troubling is the attempt to recast legitimate African criticism as foreign manipulation. This is intellectually dishonest. Africans do not need Western scripts to recognise insecurity, repression, or failure when they see it. The worsening security situation in the Sahel is not a theory; it is a lived reality measured in displaced communities, expanding extremist influence, and shrinking civic space. These outcomes deserve examination, not denial.
Nigeria, in particular, must resist any attempt to import external geopolitical quarrels into its public space. This country is sovereign. The media, I must attest, is independent. Nigeria and independent African media: journalists, academics, researchers, and other activists do not exist to please Moscow today or London tomorrow. Their duty is to inform the Nigerian public—especially when developments in neighbouring countries pose security implications. What happens in Mali, Niger, and Burkina Faso does not stay confined to those countries. Arms flows, extremist movements, and displacement cross borders. Silence would be irresponsible.
Equally important is the question of civic space. In countries now governed by military juntas aligned with Moscow, opposition voices are muted, journalists are harassed, and civil society operates under threat. It secretly disseminates some of these articles that irk Moscow. Independent debate is treated as subversion. It is therefore ironic—if not revealing—that Russian officials appear unsettled that Nigerian media still allows dissenting views to be published. That is not a flaw of our democracy; it is its strength.
The Embassy argues that Russia offers partnerships “without lectures on democracy.” That line may sound appealing to embattled regimes, but Africans should ask a harder question: does rejecting democratic “lectures” also mean rejecting accountability, transparency, and citizens’ rights? History shows that security built on repression is fragile, and sovereignty traded for silence is hollow.
This episode should serve as a reminder of why press freedom matters. Today, it is Russia taking offence. Tomorrow, it could be any other power—Western or otherwise—unhappy with scrutiny. If we allow foreign embassies to police opinion columns in Nigerian newspapers, we will have surrendered something far more valuable than diplomatic goodwill.
Let me be unequivocal: Nigeria, from my experience, welcomes partnerships, not patronage. They welcome dialogue, not intimidation. They welcome facts, not propaganda. The media will continue to ensure that journalists and analysts ask hard questions—about Russia, the West, and our own leaders in the Sahel and across Africa. That is what free societies do.
If Russia has evidence that contradicts the documented realities in the Sahel, it should present it openly, calmly, and transparently. If not, it should respect the intelligence of Africans and the independence of African media.
The real issue here is not wounded pride. It is fear of scrutiny. And history teaches us that those who fear free media usually have something to hide.
Nigeria and Africa must not look away. A free press is not a Western import; it is a democratic necessity. Anyone uncomfortable with that truth is free to respond—but not to silence it.
Oumarou Sanou is a social critic, Pan-African observer and researcher focusing on governance, security, and political transitions in the Sahel. He writes on geopolitics, regional stability, and the evolving dynamics of African leadership. Contact: sanououmarou386@gmail.com
Is Russia Afraid of a Free Press in Africa?
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KACRAN Commends NEDC for Critical Water Projects, Strategic Leadership in North East Nigeria
KACRAN Commends NEDC for Critical Water Projects, Strategic Leadership in North East Nigeria
By: Michael Mike
The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) formally commends the North East Development Commission (NEDC) for its responsiveness and commitment to improving the welfare of pastoralists across the region.
The KACRAN National President, Hon. Khalil Moh’d Bello, in a statement on Thursday said: “We express our profound gratitude to the NEDC for the installation of solar-powered boreholes in Dangel Lantaiwa Ward (Tarmuwa LGA, Yobe State) and Siddikiyo Jauro Gambo Ribadu Ward (Funakaye LGA, Gombe State). These projects provide a vital lifeline to thousands of pastoralists and their livestock, addressing the critical challenge of water scarcity in these Pastoralists concentration centers.
“KACRAN acknowledges that the NEDC stands out as a model of responsive governance. The Commission has demonstrated a genuine determination to alleviate suffering and enhance social services beyond standard expectations.”
Bello noted that: “Recently, KACRAN advocated for more inclusion of livestock development in the NEDC’s 2026 policies to ensure pastoralists benefit equitably alongside other residents of the region.
“We are pleased to note the Commission’s positive reaction to this appeal. This willingness to listen to complaints and adjust programs reflects the sterling leadership qualities of the current management.
“We applaud the consistency of the NEDC in prioritizing projects that foster peace and unity.
“The synergy between the NEDC, North East Governors, Local Government Chairmen, security agencies, and traditional rulers has been instrumental in stabilizing the region.
“The North East is no longer defined by devastation, but by its rapid reconstruction and rehabilitation.”
Bello added that: “As direct beneficiaries of these people-oriented policies, KACRAN passionately appeals to His Excellency, President Bola Ahmed Tinubu, to ensure the timely release of adequate funds to the NEDC. This support is essential for the Commission to sustain its impactful work under the Renewed Hope Agenda.
“Furthermore, we call upon the newly established development commissions in the North West and North Central regions to emulate the NEDC’s inclusive approach to foster development and peace across Nigeria.”
KACRAN also expressed its full confidence in the leadership of NEDC Managing Director, Alhaji Mohammed Alkali, and the Director of Administration and Finance, Dr. Garba Iliya., noting that: “Their administration has proven to the Presidency and the Nigerian people that they are capable, reliable partners in the quest for permanent peace and sustainable development in the North East.”
KACRAN Commends NEDC for Critical Water Projects, Strategic Leadership in North East Nigeria
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Troops rescue abducted Biu Councillor, religious cleric in Borno as hunt continues for five others
Troops rescue abducted Biu Councillor, religious cleric in Borno as hunt continues for five others
By: Zagazola Makama
Troops of the Nigerian Army under Operation Hadin Kai have rescued two civilians abducted by terrorists along the Buni Gari–Buratai road in Borno, following a swift search-and-rescue operation.
Sources told Zagazola Makama that the rescue was carried out by troops of 27 Task Force Brigade in conjunction with 135 Special Forces Battalion and members of the Civilian Joint Task Force (CJTF).

The sources said the operation was launched at about 7:35 a.m. on Wednesday after the kidnapping of seven civilians at about 5:00 p.m. on Tuesday along the Buni Gari–Buratai axis.
“Consequently, at about 11:35 a.m. on Wednesday, troops discovered two of the kidnapped victims who were abandoned by the terrorists upon hearing the movement of troops towards their location ahead of Mangari village,” the source said.
The rescued victims were identified as Alhaji Mohammed Ali Maiakachi, a serving councillor representing Zera/Wuyep Ward in Biu Local Government Area, and Mallam Aliyu Yusuf, an Islamic scholar and Chairman of Shuaaraul Islam, Borno State.
The troops, according to the source, immediately secured the release of the victims and pursued the fleeing terrorists for about 5.4 kilometres, but no contact was made.

The rescued victims reportedly informed troops that five other civilians were still being held captive, including the past and current Vice Chairmen of Biu Local Government Area, as well as three women.
“The effort to rescue the remaining five civilians is ongoing,” the source added.

The victims were initially taken to medical reception station for medical attention before being moved to Biu, where they were reunited with their families.
Troops rescue abducted Biu Councillor, religious cleric in Borno as hunt continues for five others
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