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UN Report: 2024 Could Errand Protracted Period of Low Growth

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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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Troops neutralise kidnapper, arrest informants in Plateau

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Troops neutralise kidnapper, arrest informants in Plateau

By: Zagazola Makama

Troops of 3 Division of the Nigerian Army, operating under the Joint Task Force, Operation Enduring Peace (OPEP), have neutralised a suspected kidnapper, arrested three informants and recovered arms and ammunition during an operation in Plateau State.

The operation followed reports of simultaneous kidnapping incidents at Dong Community in Jos North Local Government Area in the early hours of Monday.

Sources told Zagazola Makama that the troops responded swiftly to the distress calls and made contact with the kidnappers during the operation, leading to the neutralisation of one of the suspects.

Items recovered from the neutralised kidnapper include one AK-47 rifle, a magazine and four rounds of 7.62mm (Special) ammunition.

The suspect was later identified as a resident of the community, who was allegedly operating with the kidnapping syndicate from within the area.

The sources added that troops also arrested three persons suspected to be informants providing support and intelligence to the kidnappers.

The souces said the arrested suspects, along with the recovered arms and ammunition, are currently in custody, while troops have launched follow-up operations to track and arrest the fleeing members of the kidnapping gang.

The military reassured residents of Plateau State of its commitment to safeguarding lives and property, and urged members of the public to continue to provide timely and credible information to security agencies to aid ongoing operations.

Troops neutralise kidnapper, arrest informants in Plateau

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African Students Clinch Top Honours as KDI School Graduates New Global Policy Leaders

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African Students Clinch Top Honours as KDI School Graduates New Global Policy Leaders

By: Michael Mike

African students were among the standout performers as the KDI School of Public Policy and Management held its 2025 Commencement Ceremony, reinforcing the institution’s growing role in shaping a new generation of global policy leaders committed to ethical governance and sustainable development.

The award recipients included Stephen Ojegbola from Nigeria, who earned the Academic Excellence Achievement Award in Intellectual Property and Development Policy.

Speaking at the ceremony in Sejong, the Dean of KDI School, Professor Joon-Kyung Kim, congratulated the graduating class on what he described as a hard-earned achievement, while urging them to prepare for greater responsibilities ahead.

“Today is a day to take pride in how far you have come. After hardship comes happiness, but beyond one mountain lies another mountain. You are now part of our global KDI community of over 73,000 alumni across 143 countries, and wherever you go, you belong to something bigger,” Prof. Kim said.

The Dean highlighted KDI School’s global standing, noting that it was the first institution in Korea to receive the Network of Schools of Public Policy, Affairs, and Administration (NASPAA) accreditation twice and that it has been recognised for the fifth consecutive year as an excellent institution by the Korean Ministry of Education.

He added that KDI ranked in the global 51+ tier for Social Policy and Administration in the 2025 QS World University Rankings by Subject and placed second worldwide in citations per paper.

He however stressed that the true measure of success lay beyond rankings and awards, insisting that: “More important than accolades is what you take with you—the skills to use data, the values to serve others and the commitment to improve the world around you,” describing Korea’s development experience as a roadmap to sustainable development for emerging economies.

In a keynote address, the Ambassador of Rwanda to the Republic of Korea, Bakuramutsa Nkubito Manzi, charged graduates to embrace collaboration in addressing complex global challenges.

He said: “The era of isolated policy-making is over. Climate change, global health security and rising inequality demand cooperation, empathy and intellectual humility. Your success in public service will not be measured by profit, but by impact.”

He added that KDI training had equipped graduates with the ability to analyse policy through the lens of public good and ethical governance, urging them to become “solution makers, not just problem identifiers,” inspired by Korea’s transformation known as the Miracle on the Han River.

Several other African students received academic awards for exceptional performance at the ceremony. Alinafe Yoyola of Malawi (Master of Development Policy), Alieu Ceesay of The Gambia (Master of Data Science for Public Policy and Management) and Mustapha Colley of The Gambia (Master of Public Policy) won the Academic Excellence Achievement Award, while Pamela Mwale of Malawi, a Master of Public Policy graduate, earned a place on the Dean’s List.

Also, Nander Esmeralda Ndam (Master in Intellectual Property and Development Policy) from Nigeria and Samson Garama Dadu (Master of Public Policy) from Kenya received awards for Student Community Service.

Reflecting on his experience, Ojegbola said he chose KDI School for its unique partnership with the World Intellectual Property Organisation (WIPO).

He said: “This programme links intellectual property directly to development policy. Everything here is intentionally designed to bring the best out of students, and the experience challenged me to grow beyond my expectations.”

Another graduate, Muyama Christine from Uganda, described her journey as demanding but transformative. “Policy works not when it assumes self-sufficiency, but when it recognises interdependence,” she said, adding that her time at KDI had shown her the power of community and shared purpose.

African Students Clinch Top Honours as KDI School Graduates New Global Policy Leaders

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Fleeing bandits’ drug supplier ‘Gamboli’ arrested in Niger

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Fleeing bandits’ drug supplier ‘Gamboli’ arrested in Niger

. As NDLEA Mother and Child over 1,187 kilogrammes skunk seizure in Ondo

By: Michael Mike

Three weeks after escaping arrest at his home in Anguwan Makera, Kuta, Shiroro local government area of Niger state, a notorious supplier of illicit drugs to bandits operating in the area, 33-year-old Mohammed Sani (alias Gamboli) has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) at his hideout.

Spokesman of anti-narcotics agency, Femi Babafemi, in a press statement on Sunday said the arrest of Gamboli followed credible intelligence about his illicit drug activities. He said NDLEA operatives had on 20th November 2025 raided his house at Anguwan Makera, Kuta, where they recovered 471.8 kilogrammes of skunk, a strain of cannabis. Though he escaped arrest during the raid and has since been in hiding, the manhunt for him eventually paid off last Thursday when NDLEA officers acting on processed intelligence traced and arrested him at one of his drug joints in Anguwan Fadama, Kuta.

Babafemi said intelligence reports had indicated that Gamboli is a major supplier of illicit drugs to bandits operating in Shiroro local government area.

The spokesman said NDLEA officers in Abia last Thursday raided a clandestine codeine syrup-manufacturing factory at Amapu Igbengwo village, Umuakpara, in Osisioma local government area of the state. During the operation, operatives recovered a total of 9,015 bottles of codeine syrup weighing 1,152.2 kilogrammes.

In Enugu state, operatives last Thursday arrested Ossai Emeka, 45, along Onitsha – Enugu Ezike road with 7.2 kilogrammes skunk, while Enoje Agada, 40, was nabbed along Enugu-Ezike -Ette road with 94.6 kilogrammes of same psychoactive substance.

A raid carried out by NDLEA operatives at a notorious drug joint known as “Beere the California” at Ido in Oyo state last Thursday led to the seizure of 3.4 kilogrammes skunk, 1.6 kilogrammes Colorado, a synthetic cannabis and 400 grammes of methamphetamine. Babafemi said the owner of the drug joint identified as “Idowu the killer” is currently at large while a suspect Ajibade Faruk was nabbed at the joint.

Another operation at Idi Oro, Elekuro, Ibadan last Friday led to the arrest of Olusanya Abosede, 35, and the seizure of 238.4 kilogrammes skunk, while the duo of Bashiru Babalola, 43, and Ogunwale Ranti, 50, were arrested last Wednesday at Gbaji checkpoint, Seme road Badagry, Lagos with 50,000 pills of tramadol 250mg,

NDLEA operatives in Ogun state arrested two suspects: Akinwale Makanjuola and Joseph Owolabi with 73 kilogrammes skunk at Iperu just as another suspect Wasiu Lateef was nabbed with 25 kilogrammes of same substance at Oke Agbede, Imeko area of the state last Tuesday. In Ondo state, NDLEA officers acting on credible intelligence last Monday raided a compound in Ogbese, Akure North local government area, where they arrested a 55-year-old woman Veronica Obi and her 29-year-old son Bright Obi, and recovered 1,187 kilogrammes of skunk and its seeds from them.

A suspect Ohiomah Igbafe, 44, was arrested during a raid operation at Uroe community, Owan East local government area of Edo state, where 461 kilogrammes skunk and its seeds were recovered last Tuesday.

In Gombe state, a suspect Muhammed Sani (alias Sha-Mu-Sha), 50, was arrested with 40,000 capsules of tramadol at Tunfure area, Gombe, while two other suspects: Muhammad Abdullahi (a.k.a Sakalala), 52, and Muhammed Hamza (a.k.a Mamman), 32, were nabbed at Ashaka Jalingo, with 56 kilogrammes skunk last Monday.

Babafemi said no fewer than 907 pills of tramadol, tapentadol, cocodamol, amitriptyline and bromazepam concealed in containers of local black soap, and designer wears, in six different consignments going to the US, Canada and Sweden were intercepted and seized by NDLEA operatives at two major courier companies in Lagos between Tuesday and Wednesday, last week.

At the Apapa seaport in Lagos, NDLEA officers on Saturday intercepted a consignment of 170,000 bottles of codeine syrup weighing 23,579 kilogrammes during a joint examination of a container with men of Customs Service and other security agencies.

He said in like manner, commands and formations of the agency across the country continued their War Against Drug Abuse, WADA, sensitization activities to schools, worship centres, work places and communities among others in the past week.

Meanwhile, the Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (rtd), while commending the officers and men of DOGI, Niger, Abia, Oyo, Enugu, Seme, Ogun, Ondo, Gombe, Apapa and Edo commands for the arrests, seizures and their dexterity, enjoined them and their colleagues across the country to continue with the ongoing balanced approach to the drug control efforts of the agency.

Fleeing bandits’ drug supplier ‘Gamboli’ arrested in Niger

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