News
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
Army troops rescue 10 kidnapped women, recover rifle and ransom money in Sanga, Kaduna
Army troops rescue 10 kidnapped women, recover rifle and ransom money in Sanga, Kaduna
By: Zagazola Makama
The Nigerian Army troops of 1 Division Operation FANSAN YANMA have rescued 10 kidnapped women during a coordinated search-and-rescue operation in Sanga Local Government Area of Kaduna State.

The women were abducted from their farms at Ungwan Nungu on Nov. 29.
Sources told Zagazola Makama that the successful operation was carried out after days of sustained days search operations to track the kidnappers.
The sources stated that at about 6:40 a.m. on Friday, the troops made contact with the abductors who were attempting to receive ransom money from relatives of the victims.
“The troops engaged the kidnappers with superior firepower, forcing them to abandon the victims and flee,” the sources added.
According to the sources, the troops rescued all 10 victims and recovered one fabricated AK-47 rifle, one round of 9mm ammunition and ₦1.6 million, said to be part of the ransom the criminals were attempting to collect.
The rescued victims have been debriefed and reunited with their families, while efforts are ongoing to track and arrest the fleeing suspects.
Army troops rescue 10 kidnapped women, recover rifle and ransom money in Sanga, Kaduna
News
Why IPI Nigeria gave SSS DG, Oluwatosin Ajayi, Commendation Award
Why IPI Nigeria gave SSS DG, Oluwatosin Ajayi, Commendation Award
By: Michael Mike
The Nigerian National Committee of the International Press Institute (IPI Nigeria) has explained the rational behind the award to the Director General of the Department of State Security, Mr Adeola Oluwatosin Ajayi.
In a statement justifying the commendation award to Ajayi, the committee said: “Since his appointment as Director-General of the State Security Service (SSS) in late August 2024, Mr Adeola Oluwatosin Ajayi has demonstrated an unmistakable commitment to press freedom and respect for journalists and media organisations.
“Unlike in previous years when the SSS was notorious for serial harassment, intimidation, and arrests of journalists, the agency under Mr Ajayi’s leadership has shown remarkable restraint, professionalism, and openness to dialogue. Conflicts between the Service and the media are now resolved amicably, through engagement rather than coercion.”
It cited few examples to illustrate this transformation to include:
“Barely hours into his tenure, one of our colleagues, Adejuwon Soyinka, was intercepted and detained in Lagos. Within hours of IPI Nigeria bringing the matter to his attention, Mr Ajayi directed the Lagos Command to release the journalist immediately.
“For decades, our member Lanre Arogundade had suffered humiliating treatment at Nigeria’s borders, having been placed on the SSS watchlist since the 1980s. Despite years of advocacy, previous assurances that his name had been removed turned out to be untrue. Shortly after assuming office, Mr Ajayi received a formal complaint from IPI Nigeria and acted swiftly—permanently deleting Mr Arogundade’s name from the watchlist.
“In the Order Paper case, the SSS arrested a staff member of the newspaper following an inaccurate report alleging the Service invaded the National Assembly to facilitate the removal of Senate President Godswill Akpabio. Once notified, Mr Ajayi immediately ordered that the detained journalist be granted administrative bail. Through constructive engagement, the matter was later resolved, all charges filed in court were withdrawn, and the case was closed.
“There was also a case involving one of our colleagues who became entangled in a personal matter unrelated to journalism. He was arrested alongside an associate. Acting on humanitarian grounds, we sought the DG’s intervention. Mr Ajayi obliged and ordered his release.
“In February 2025, the SSS contacted IPI Nigeria, accusing several media organisations of publishing falsehoods about its role in the Lagos Assembly crisis. Though understandably aggrieved, the DG worked patiently and collaboratively with us to resolve the dispute. The agency provided evidence that it had been invited by the Assembly leadership to secure the complex, and the matter was amicably settled without confrontation.
“In October 2025, without any prompting from IPI Nigeria, Mr Ajayi ordered disciplinary action against officers involved in the arrest and detention of two journalists from Jay 101.9 FM, a private radio station in Jos. He subsequently caused the SSS to issue a formal apology to the journalists and their organisation.
“For these and other reasons, we are honouring Mr Adeola Oluwatosin Ajayi today. We do so not only to acknowledge his commendable press freedom credentials but also to encourage him to do even more, and to inspire other officials, institutions, and organisations to emulate his example.”
Why IPI Nigeria gave SSS DG, Oluwatosin Ajayi, Commendation Award
News
Drug war: NCWS commends President Tinubu, Marwa, seeks collaboration with NDLEA
Drug war: NCWS commends President Tinubu, Marwa, seeks collaboration with NDLEA
By: Michael Mike
The National Council of Women Societies (NCWS) has commended President Bola Ahmed Tinubu over the reappointment of Brig. Gen. Buba Marwa (rtd) as Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency for another term of five years.
National President of the NCWS, Princess Edna Azura who gave the commendation when she led other leaders of the Council on a courtesy visit to Marwa at the Agency’s national headquarters in Abuja on Wednesday, said the decision will further strengthen and consolidate the ongoing war against substance abuse and illicit drug trafficking.
She called for more collaboration between the women’s group and NDLEA in the area of joint sensitization programmes in schools, markets, and communities as well as training of women leaders in drug use prevention, treatment and care.
“We want to appreciate President Bola Ahmed Tinubu for this wonderful opportunity that he has given you extra five years. We are very, very grateful. This renewal is a clear national endorsement of your monumental contributions to national security, public health, women and youth protection. We are confident that your continued leadership will further fortify the nation’s fight against drug trafficking and promote sustainable peace and stability”, she noted.

She described Marwa’s leadership at NDLEA as transformative and inspiring. “Over the years, you have demonstrated what strong ethical and visionary public service truly means. Under your leadership, the Agency has recorded unprecedented achievements from dismantling sophisticated drug trafficking networks to intercepting record level quantities of illicit substances, improving intelligence driven operations, expanding community based preventive education and strengthening rehabilitation pathways for victims of substance abuse. We are very grateful for that. These achievements are not just institutional milestones, they represent hope for millions of families, especially women and children, who often suffer the silent painful consequences of drug related crime, domestic challenges and societal instability.”
While seeking further partnership with NDLEA in the fight against the drug scourge, Princess Azura said “at NCWS, we have also been actively mobilising women, mothers, teachers and community groups to participate in the fight against substance abuse. Our ongoing school outreach programmes, advocacy forums and community sensitisation campaigns across the states have proven that when women are fully engaged, prevention becomes more effective.”
She said the NCWS is eager to explore strategic areas of cooperation with NDLEA, including training of the Council’s national officers and state leaders as community anti-drug ambassadors; joint advocacy campaigns targeting mothers and caregivers; rehabilitation and reintegration especially for women and youths affected by substance abuse, among others.
In his response, Marwa expressed appreciation to the NCWS leaders for the visit and their kind remarks about him and President Tinubu. He said as the umbrella body for all women societies across the country, it is imperative for NDLEA to partner with the NCWS. He said the Agency considers the drug menace as Nigeria’s number one problem today because it affects everyone and every community directly or indirectly, adding that with a population of about 15million drug users, there’s the need for a whole of society response.

“So, this is a big challenge and government cannot handle it alone, we have to have the whole of society to work with us. So NCWS, we don’t have any bigger partners than you because you are the mothers handling families all over the country, and it is very, very critical that you stand up. You have to stand up and be part of this struggle to redeem the souls of our young boys and girls, including the women who are afflicted”, he stated.
The NDLEA boss assured the women leaders that the NDLEA will not only partner with them but will equally organise Drug Use Prevention, Treatment and Care (DPTC) training to equip them for the task ahead in 2026. “We will hold a DPTC training for you, we usually to do that for governors’ spouses and I think we will tailor it to exactly what you will need, so that you can also take it down to the states, and down to the grassroots.”
He urged them to also buy in and take ownership of the current push for drug integrity test for intending couples as part of efforts to discourage substance abuse and encourage early detection and treatment, especially among the youth.
Drug war: NCWS commends President Tinubu, Marwa, seeks collaboration with NDLEA
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