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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
News
ISWAP’s acknowledgement of commander’s death highlights gains by troops, cracks within insurgent ranks
ISWAP’s acknowledgement of commander’s death highlights gains by troops, cracks within insurgent ranks
By: Zagazola Makama
Fresh intelligence indicating that the Islamic State West Africa Province (ISWAP) has internally acknowledged the death of one of its senior commanders killed by Nigerian troops has provided a rare insight into the impact of recent military operations in the North-East.
The insurgent commander, identified as Modu Kundiri, served as the Qa’id (camp commander) of ISWAP’s Pulka axis in Gwoza Local Government Area of Borno State, a strategic location close to the border with Adamawa State and the Sambisa Forest corridor.
Intelligence sources told Zagazola Makama that Kundiri was neutralised during recent military operation along the Madagali–Gwoza axis, an area that has remained a critical operational corridor for insurgent movements between Borno and Adamawa.
What makes the development particularly significant is that the confirmation of his death did not come through official propaganda channels of the insurgent group but through intercepted communications among ISWAP members themselves.
According to intelligence obtained on March 11, a conversation between an insurgent identified as Abubakar, who was using Kundiri’s GSM line from a location opposite Pulka Market, and an associate named Fatima in Gonidamgari area of Maiduguri, revealed that the commander had been killed by military troops during the operation. Such internal acknowledgements often provide a clearer picture of battlefield realities than propaganda statements, which insurgent groups frequently manipulate to project strength.
Before his death, Kundiri was reportedly involved in coordinating or participating in several attacks across multiple local government areas in Borno and Adamawa states. These included operations in Gwoza, Askira/Uba, Bama and Konduga LGAs in Borno State, as well as Madagali LGA in Adamawa State.
Security sources say his operational reach across several LGAs reflected his familiarity with the terrain and his ability to coordinate movements along the rugged border areas linking Sambisa Forest to northern Adamawa.
His influence within the insurgent hierarchy had recently increased after he was reportedly elevated to senior command by Mallam Ba’ana Chingori, a prominent ISWAP figure believed to be operating within the Sambisa Forest enclave and Timbuktu Triangle.
The appointment placed Kundiri in charge of coordinating insurgent activities in the Pulka axis, an area frequently targeted by troops because of its strategic importance to insurgent logistics and movement.
The loss of such a commander could temporarily disrupt ISWAP’s operational coordination in the southern Borno corridor.
Field commanders like Kundiri typically serve as the link between strategic leadership in forest enclaves and operational cells responsible for attacks, recruitment and logistics.
“When such commanders are eliminated, it often creates a short-term vacuum in the command structure,” a counter-insurgency analyst said. However, insurgent organisations often attempt to quickly fill these gaps to maintain continuity.
Evidence of such attempts may already be emerging. Intelligence sources noted that the GSM line previously used by Kundiri is now being operated by another ISWAP member. This could be an attempt by the group to conceal the commander’s death temporarily or maintain communication channels within the network to avoid operational disruption.
Such tactics are common among insurgent groups trying to prevent panic or confusion among fighters following the loss of key leaders.
ISWAP’s acknowledgement of commander’s death highlights gains by troops, cracks within insurgent ranks
News
Operation Hadin Kai debunks Fake news on ISWAP enclave in Tuba, Jere in Borno
Operation Hadin Kai debunks Fake news on ISWAP enclave in Tuba, Jere in Borno
By: Zagazola Makama
Reports circulating online claiming that Boko Haram and ISWAP insurgents have established a new enclave in Tuba, Jere Local Government Area, have been strongly condemned by military sources in Operation HADIN KAI, describing the claims as false, misleading, and deliberately designed to spread fear.

According to the sources, recent operations conducted by troops of 212 Battalion, Operation HADIN KAI, across Tuba and surrounding areas including Dusuman, Jabarmari, Gongulong, Ngom, and along the Maiduguri-Monguno and Maiduguri-Mafa highways, found no evidence of any terrorist enclave, concentration, or movement as claimed in the reports.
The military sources expressed outrage over the circulation of such unverified stories, noting that some media platforms appear to be serving interests contrary to national security and public safety. “These claims are false, sensational, and do not reflect the reality on the ground,” the sources said.
They pointed to previous instances of deliberate exaggeration, where some outlets reported that 40 or even 100 soldiers were killed during attacks in Konduga figures that were never corroborated by even the insurgents themselves. Another example cited involved reports claiming Boko Haram had taken over Ngoshe, only for videos of troops firmly securing the area to emerge, exposing the lies. Despite this, some media still went ahead to report that Army has recaptured Ngoshe without providing further details of how the Operation tool place.

“Who are these media outlets serving?” the military sources demanded. “Are they advancing national or public interest, or are they actively trying to support the terrorists to disintegrate the country through fake narratives?”
While acknowledging operational challenges in the theatre, the military sources emphasized that troops continue to maintain operational dominance, safeguard residents, and protect highways and strategic installations across the North East region.
In other countries, citizens rally around their military to support them in countering violent extremism. Hardly will you find active citizens working as though they are tool of terrorists propaganda. They warned that unverified reports undermine troop morale, endanger civilians, and distort public perception of ongoing security efforts in the country.
Journalists and media platforms were urged to exercise professionalism, verify facts before publication, and avoid being used as instruments of destabilisation. Residents were advised to rely only on credible sources and report suspicious activities to security agencies.
The military remains committed to defeating terrorism, ensuring stability in Borno State and the broader North-East, and will not be distracted or demoralized by falsehoods masquerading as news.
Operation Hadin Kai debunks Fake news on ISWAP enclave in Tuba, Jere in Borno
News
Fresh tension in ISWAP camps as top commander Modu Kunduli neutralised by troops in Borno
Fresh tension in ISWAP camps as top commander Modu Kunduli neutralised by troops in Borno
By: Zagazola Makama
Fresh tension and anxiety have gripped Islamic State West Africa Province (ISWAP) camps following the neutralisation of one of its top commanders, Modu Kunduli, by troops of Operation HADIN KAI during a failed assault on the Army Forward Operation Base in Mayanti village, Bama Local Government Area of Borno State.
Sources say the late commander met his end during a last week’s failed mission targeting the Army Forward Operation Base at Mayanti village. His death is expected to create a significant leadership vacuum within ISWAP, particularly in Sambisa Forest, given his mastery of local terrain and fluency in Fulfulde, Kanuri, and Marghi.
Zagazola report that Kunduli, a high-profile ISWAP commander, had been orchestrating attacks across Borno and Adamawa states for the past ten years, dating back to the era of Boko Haram founder Abubakar Shekau. He joined ISWAP shortly after the death of Shekau in 2021z
He was notorious for terrorising communities in Askira Uba Local Government Area, including Lassa, Multaku, Uvu, Wamdeo, and Ruimirgo villages. Reports also indicate his involvement in attacks on Vita, Yamtage, Izge, Pulka, Warabe, Limankara, and Ubawa villages in Gwoza Local Government Area.
Beyond Borno, Kunduli held operational control over Galta, a border community linking Adamawa and Borno states, overseeing large swathes of territory in Madagali and Michika Local Government Areas of Adamawa. His deep knowledge of the Sambisa Forest terrain, coupled with his leadership capabilities, earned him the command of several ISWAP branches across the region.
Zagazola note that Kunduli’s elimination represents a major blow to ISWAP’s operational capabilities in the north-east, disrupting the group’s command structure and its ability to coordinate attacks across Borno and Adamawa states.
Troops of Operation HADIN KAI continue to exploit the area and maintain aggressive patrols to prevent remaining insurgents from regrouping.
Military sources have assured residents that the offensive will continue until the remnants of the terrorist group are decisively neutralised.
Fresh tension in ISWAP camps as top commander Modu Kunduli neutralised by troops in Borno
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