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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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APC commits to free, fair primary election in Adamawa

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APC commits to free, fair primary election in Adamawa

The leadership of All Progressives Congress (APC) in Adamawa in partnership with the party’s Unity Forum is committed to conducting a free, fair and credible primary election in the state ahead of 2027 general elections.

Mr Abubakar Hamma-Girei, Director General of the Forum stated this at a press conference in Yola.

He said that the forum would ensure that all Party members have an equal opportunity to participate in the process, and that the outcome reflects the will of the party faithful.

He expressed gratitude to President Bola Tinubu and all stakeholders for the remarkable achievement recorded in the country that makes opposition to join the party

“We understand the importance of maintaining the trust and confidence of our members, and we are working tirelessly to ensure that the Primary Election is conducted in a transparent and accountable manner.

“Let me assure you that there will be no imposition of the candidate, and that will be free from any form of manipulation or interference.

“We will uphold the principles of internal Democracy and ensure that the best candidate emerges to fly our Party’s flag in the forthcoming elections”, he said.

The DG urged all party members to participate actively in the primary election and to report any irregularities or concern to the relevance authorities.

“Together we build a stronger more united Party that will deliver for our great nation.

“We are calling on all Nigerians who are passionate about positive change and good governance we invite you to join the All Progress Congress (APC) family”, he said.

According to him,, the ongoing membership revalidation exercise is a unique opportunity for shaping the future of the great nation.

Hamma further said that the forum also resolved to support all APC candidates in the forthcoming Local Government election in the state.

“We are directed to intimate all our members across 21 LGA to give them adequate support they deserve”, he said.

APC commits to free, fair primary election in Adamawa

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Nigeria, Currently Dealing with Multiple Layers of Disease- Ministry of Health

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Nigeria, Currently Dealing with Multiple Layers of Disease- Ministry of Health

By: Michael Mike

The Ministry of Health has raised the alarm over the changing health challenges in the country, warning that the country is currently dealing with multiple layers of disease at the same time.

Speaking at the official inauguration of the Nuparadigm Health Foundation, which marks a new era of health awareness and n the country, a representative of Ministry of Health, Abraham Emmanuel emphasized the urgent need for prevention, education, and lifestyle interventions to protect public health.

Nuparadigm Health Foundation is a non-governmental organisation committed to raising awareness about non-communicable diseases and the risk factors associated with them. The foundation aims to provide credible health information, educate communities, and encourage healthier lifestyles to prevent the onset of avoidable illnesses.

Emmanuel explained that Nigeria’s health challenges are changing, with the country now dealing with multiple layers of disease at the same time.

He said; “Africa, and Nigeria in particular, is no longer facing only communicable diseases. We are now experiencing a double burden of communicable and non-communicable diseases, and some even describe it as a triple burden when pandemics are included.”

He decried that younger Nigerians are increasingly affected, stating that: “Non-communicable diseases are increasing in Nigeria, and the age limit is dropping. Conditions like hypertension, stroke and type 2 diabetes are now affecting people in their 30s.”

Emmanuel noted that lifestyle is the main risk factor. He said: “These are mainly lifestyle-related diseases, which means they can be managed and prevented through increased awareness and better choices.”

He also highlighted alarming national survey findings, warning that many Nigerians are unaware of the silent health threats around them. “The data from our national survey is alarming. Many Nigerians are developing non-communicable diseases without knowing the risk factors, such as unhealthy diets, physical inactivity, harmful use of alcohol, tobacco use and even second-hand smoke,” he said.

Emmanuel, while lamenting that these risk factors which are often overlooked in daily life, are driving a surge in preventable illnesses, creating a hidden crisis that could overwhelm families and the healthcare system if urgent action is not taken.

On her part, the founder of Nuparadigm Health Foundation, Dr. Omolara Olagunju said her experience as a doctor led her to conclude that hospitals mainly treat disease, while true healthcare lies in daily prevention.

She said: “After about 15 years of medical practice, I realised that we don’t really have healthcare in the true sense. Hospitals are not health care systems; they are more like disease parlours. Real healthcare happens outside the hospital, and you should not have to be sick before you start thinking about how to be healthy.”

She explained that many Nigerians harm their health unknowingly because they lack access to simple, trustworthy information.

Olagunju said: “A lot of people are doing things every day that are damaging to their health, and they don’t even know it. When I tell them, they say, ‘Doctor, I didn’t even know.’ That is why we believe that everyone has a right to essential health information — the kind of information you need to maintain the good health that you already have.”

She also acknowledged the harsh realities of daily life, saying many people sacrifice health in the struggle to survive.

“People tell me they are too busy to come for health checks, and I later realised that their reasons are legitimate. People are trying to make ends meet in Nigeria. But sometimes we are working harder, winning the battle financially, and losing the war because our health is steadily deteriorating in the process.” She noted .

She emphasized that the foundation is designed to take health awareness directly into everyday spaces instead of waiting for hospital visits.

“Instead of waiting for people to come to the hospital, we decided to go to them to their offices, their schools and their social media platforms and share this information as widely as possible, because it may be just one piece of information that makes all the difference.” She said.

She also warned that unhealthy lifestyles learned early are already showing consequences in children.

“We were not born liking sugary drinks; these tastes were learned. Today, I see obese children everywhere, and I ask myself what will happen to these children in 10, 15 or 20 years if we don’t do something drastic now.” She warned .

In his keynote address, Consultant Physician and Interventional Cardiologist, Dr. Iseko Iseko said Nigeria invests more in treating illness than in preventing it.

“Over the last two decades in healthcare, most of what we do is secondary prevention treating diseases after they have happened and trying to prevent complications. But primary prevention, which is stopping diseases from happening through education and healthy practices, is where we should be investing more of our energy.” He said

Iseko warned that Nigeria’s fragile healthcare system is under strain from both infectious and lifestyle-related diseases

In his words he said “In Nigeria and sub-Saharan Africa, we are still dealing with communicable diseases like malaria, tuberculosis and HIV, but at the same time we are now seeing increasing cases of heart attacks, strokes and diabetes. This double burden of disease is putting enormous pressure on our healthcare system.”

He described Nigeria’s low life expectancy as a reflection of widespread preventable illness and weak preventive care.

He said: “A lot of Nigerians are dying prematurely, and Nigeria is now among the countries with the lowest life expectancy in the world. This is not because we lack potential, but because we have failed to prioritize preventive health and protect our population from avoidable diseases”.

Iseko stressed that everyday habits are driving diseases that drain families financially and emotionally, noting that:

“Many of the diseases we see today are lifestyle-driven and preventable. Treating heart failure alone can cost over ₦1.85 million every month, and when you look at conditions like stroke and kidney failure, the cost to families is catastrophic. This is why prevention, early detection and lifestyle change are far better than waiting to treat advanced disease.”

He further warned about lifestyle-related risk factors, stating that: “Sitting too much, smoking, unhealthy diets and alcohol are silently destroying our blood vessels. These are preventable causes of heart disease and stroke.”

Iseko emphasized the financial and health benefits of prevention, stressing that: “The average cost of treating heart failure is not less than ₦1.85 million per month. Treatment is expensive, catastrophic, and it is far better to prevent these diseases than to manage them.”

The event brought together healthcare professionals, government officials, and key stakeholders, emphasizing the urgent need for prevention, education, and lifestyle interventions to protect public health.

Nigeria, Currently Dealing with Multiple Layers of Disease- Ministry of Health

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80-year-old ex-convict arrested as NDLEA uncovers illicit drugs in full body mannequins

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80-year-old ex-convict arrested as NDLEA uncovers illicit drugs in full body mannequins

By: Michael Mike

An unrepentant 80-year-old grandpa Jeremiah Nkanta has again been nabbed for another drug crime by operatives of the National Drug Law Enforcement Agency (NDLEA) barely

three years after he was arrested, prosecuted and sentenced to two years imprisonment for dealing in illicit drugs,

A statement by the spokesman of the anti-narcotics agency, Femi Babafemi on Sunday said Nkanta, notorious for illicit drug business was first arrested by NDLEA on 14th December 2022, prosecuted and sentenced to two years in jail by a Federal High Court in Uyo, Akwa Ibom state.

Babafemi said Nkanta not ready to let go the old habit, returned to the illicit drug trade and following credible intelligence, NDLEA operatives on Saturday tracked the Octogenarian ex-convict to his Mmanta – Abak village, Abak local government area of Akwa Ibom state, where he was arrested with 5.7 kilogrammes of skunk, a strain of cannabis in his residence.

The spokesman said in another successful interdiction operation in Akwa Ibom state, NDLEA operatives on patrol along Oron-Ibaka road in Oron local government area last Friday intercepted a 37-year-old businessman Ani Onyebuchi while travelling with full body mannequins for his clothing business in Cameroun, adding that a search of the mannequins revealed that they were stuffed with pills of tramadol weighing 5.3 kilogrammes.

He said the suspect claimed he resides in Cameroon and was reportedly returning to his base after the Christmas and New Year holidays when he was apprehended. It was revealed that he bought the drugs in Onitsha, Anambra state and was trafficking them to Cameroon to sell, using two mannequins to conceal the opioids.

In Oyo state, raids across different locations led to the seizure of dangerous illicit drugs and arrest of notorious dealers, including 45-year-old Remi Bamidele (Alias ‘Aluko the Mafia’) at Sasa, Ibadan, where a total of 10.696 kilogrammes of Colorado, Scottish Loud, Ghana Loud, Canadian Loud and skunk, all strains of cannabis.

Babafemi said at the time of his arrest last Thursday, two vehicles: Toyota Venza and Toyota Yaris marked HG 06 LYD were recovered from him.

At Adegbayi area of the state capital Ibadan, NDLEA officers lastbFriday arrested Adeola Toheeb, 27, with various quantities of Colorado, Ghana Loud and skunk while Habeeb Ali, 29, was nabbed at Ring road, Ibadan with 1.264 kilogrammes Colorado, Scottish Loud and skunk. Not less than

₦1,307,100 cash exhibit was also recovered from him at the point of his arrest on Saturday.

A dispatch rider Osagbovo Edigin, 30, and two other suspects: Ebimi Labo, 28, and Akhimie Success, 25, were last Friday arrested at Ihama/Airport road GRA Benin City, Edo state in connection with the seizure of 118 grammes of Canadian Loud and a wrap of Colorado.

While Jimoh Agbonmhegbe, 49, was arrested at Irrua with 17.552 kilogrammes Colorado, Loud and skunk, another suspect Evelyn Okoyomon, 38, was nabbed at Ubiaja with 930 grammes of skunk last Wednesday.

Babafemi said in Niger state, no fewer than 4,000 pills of tramadol 225mg were recovered from a suspect Nazifi Umar, 22, at Dakwa town, Tafa local government area, while another suspect Yusuf Usman, 41, was nabbed with 100 blocks of skunk weighing 47 kilogrammes at Lankaviri, Yorro local government area, Taraba state last Wednesday.

Not less than 30,950 capsules of tramadol, he said were recovered from the home of a suspect Ugwoke Chibueze, 40, in Bachure area of Yola South local government area, Adamawa state following his arrest at the Lamido Aliyu Mustapha International Airport Yola last Tuesday.

Babafemi said with the same vigour, 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 Akwa Ibom, Adamawa, Taraba, Edo, Oyo, and Niger commands of the agency for the arrests and seizures, stated that their operational successes and those of their compatriots across the country especially their balanced approach to drug supply reduction and drug demand reduction efforts are well appreciated.

80-year-old ex-convict arrested as NDLEA uncovers illicit drugs in full body mannequins

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