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
ADC Unveils Timetable, Guidelines for 2025/2026 Congresses, National Convention
ADC Unveils Timetable, Guidelines for 2025/2026 Congresses, National Convention
By: Michael Mike
The African Democratic Congress (ADC), has released a comprehensive timetable and guidelines for the conduct of its congresses and national convention for the 2025/2026 political year, as part of efforts to strengthen internal democracy and reposition the party ahead of future elections.
The guidelines are contained in a National Secretariat Circular dated December 30, 2025, and signed by the party’s National Chairman, Hon. Nafiu Bala Gombe.
According to the circular, the party’s activities will commence with a Board of Trustees (BoT) meeting scheduled for January 5, 2025, followed by a National Executive Committee (NEC) meeting on January 7, 2025.
Key agenda items at the NEC meeting include the filling of vacancies in the National Working Committee (NWC), the fixing of dates for membership registration and revalidation, and preparations for ward, local government and state congresses.
He said: “For 2026, the ADC announced that membership registration and revalidation will take place from January 2 to January 15. This will be followed by ward executive committee congresses on January 17, with matters arising to be addressed between January 19 and 22.
“Local government congresses are scheduled for January 24, while state executive committee congresses will be held on January 31, 2026. Matters Arising: February 2-5, 2026 National-Level Activities.
“National Working Committee Convention: d. The approved delegates to the State Congresses, as provided for in Article 24 (a) – (e) and specifically modified by a resolution of the NWC at its 17th December, 2026 in National
headquarters Abuja are as follows: Local Government Chairmen
“LGA Secretaries; Youth Leader; Women Leader; State Executive Committee members and National Executive Committee (NEC) members from the State; PWD Leader; Ex-Officio Member; All Elected Council Chairman and their Deputies; Board of Trustees Member; Zonal National Officer; Any Elected National / State Assembly Members; Legal Adviser.
“States shall constitute Congress Planning Committees, membership of which shall not include persons contesting for any of the state executive offices.
“All persons willing to contest for state offices shall register their intentions with the State Congress Committee with an intention Fees N2,000.00 (Two Thousand Naira Only) which the Congress Committee may utilize for the purpose of financing the congresses, in part.
“The State Executive Committee shall supervise the work of the Congress Planning Committee to ensure strict compliance with the guidelines on State Congresses.
“Approved composition and distribution of the State Executive Committee members should, as much as practicable, be carried out according to the Senatorial Zones and in compliance with the Party’s Constitutional provision (Article 5, 17):
“Senatorial Zone with the highest number of members (6 positions). Chairman; Asst. Secretary; Asst. Financial Secretary; Auditor; Organizing Secretary; Women Leader; Senatorial Zone with 2nd highest number of members (5 positions); Vice Chairman, Treasurer, Legal Adviser, Asst. Publicity Secretary, Asst.”
On zoning, the ADC disclosed that distribution of state executive committee positions should, as much as practicable, reflect senatorial zones and comply with the party’s constitutional provisions.
The party’s National Working Committee convention is slated for February 13 to 15, 2026.
The party emphasised that only validly registered or revalidated members whose names appear in the official membership register will be eligible to participate in the congresses, in line with provisions of the ADC constitution.
State chapters were also directed to formally notify the National Secretariat of the dates, venues and times of their congresses to enable proper communication with the Independent National Electoral Commission (INEC).
He said: “The criteria for qualification to contest for executive positions in the State Executive Committee are as follows: At least, attendance of Secondary School; The Offices of State Legal Adviser, Treasurer and Financial Secretary should have experiences in their respective professions; else the offices should be occupied by persons best deemed suitable.
“The Office of the State Youth Leader must NOT be more than 25 years while that of the State Woman Leader is exclusively reserved for Women.
“All pre-congress appeals shall be determined not later than 24 hours before the congresses while all appeals consequent upon the congresses shall be determined within 3 days after the congresses.
“The Congress Planning Committee shall submit reports of congresses to the National Secretariat via adcnationalcongressreformcommitee@gmail.com not later than 5 working days after the congresses.”
The party urged members and state chapters to strictly adhere to the guidelines to ensure transparent, credible and orderly congresses nationwide.
ADC Unveils Timetable, Guidelines for 2025/2026 Congresses, National Convention
News
Multiple terrorists neutralised in Sambisa as coordinated strikes unsettle ISWAP commanders
Multiple terrorists neutralised in Sambisa as coordinated strikes unsettle ISWAP commanders
By: Zagazola Makama
Fresh intelligence emerging from the Sambisa Forest indicates significant disarray within the Islamic State West Africa Province (ISWAP) following a series of coordinated ground and aerial strikes by Nigerian forces that dislodged key terrorist hideouts and neutralised dozens of fighters at the turn of the new year.
Zagazola Makama report that on Jan. 2, 2026, intercepted intelligence revealed growing concern among senior ISWAP commanders, including Jundullah and Ibn Hataf, after troops launched a surprise and “deadly” assault on the Balangaje hideout deep inside the Sambisa Forest on Jan. 1.
According to the sources, the Balangaje position described as a long-standing ISWAP enclave was completely overrun by the troops of Operation HADIN KAI, forcing surviving fighters to flee in disarray to other parts of the forest.
The commanders reportedly admitted that their forces were caught unprepared, resulting in a chaotic retreat in which many fighters were cut off and forced to escape individually, abandoning weapons, logistics and command structures.
More critically, the terrorists expressed concern over the fate of several senior commanders who have remained unaccounted for since the assault, raising strong indications of leadership casualties or severe command-and-control breakdown.
Security sources confirmed that the ground assault on Balangaje was launched by forces of 21 Armored Brigade operating in Nguro Soye in Bama Local Government Area.
Zagazola report that this ground success was decisively reinforced by precision air operations conducted under Operation Hadin Kai (OPHK), marking what one source described as a “welcome to 2026” for insurgent groups operating in the North-East.
On Jan. 1, following authorisation by OPHK, air assets engaged multiple high-value terrorist targets across Sambisa, Gava and the wider OPHK Area of Responsibility.
At about 0027 hours, an armed aircraft code-named Dragon, carried out a precision strike on a building with solar panels at Chiralia, identified as a terrorist logistics and command facility. Battle Damage Assessment (BDA) confirmed the structure was engulfed in flames, with secondary explosions suggesting the presence of stored fuel, explosives or logistics caches.
Further ISR operations tracked suspected Boko Haram Terrorists converging between rocky outcrops in the Gava axis. At approximately 0035 hours on Jan. 2, a precision strike was authorised and executed on the identified coordinates, with Battle Damaged Assessment confirming that about 11 suspected terrorists were neutralised.
Minutes later, surveillance assets observed about 10 additional terrorists fleeing the Gava settlements in panic after hearing the explosions. Continuous tracking revealed another convergence of about eight fighters under a tree, prompting a second precision strike at about 0114 hours.
BDA from the second engagement indicated that the eight terrorists were neutralised, while others fled in different directions. A secondary explosion was again observed near the strike point, reinforcing assessments that the location served as a weapons or logistics cache.
In a related operation, ISR assets identified a large concealed structure covered by trees and fitted with materials suspected to be solar panels, alongside a smaller adjoining building. Following clearance, the larger structure was engaged at about 0229 hours on Jan. 2, with BDA confirming its complete destruction.
Security analysts say the cumulative impact of these strikes has been profound. Beyond the immediate neutralisation of fighters, the operations degraded ISWAP’s logistics, energy supply, shelter and command infrastructure, while also exposing vulnerabilities in what had been considered secure forest hideouts.
The fact that ISWAP commanders are openly worried about missing senior leaders is significant. It points to either high-value casualties or a breakdown in their internal communication, both of which weaken their operational effectiveness.
The Sambisa Forest, once the symbolic and operational heartland of Boko Haram factions, has increasingly become a contested battlespace, with sustained intelligence-driven operations denying terrorists the freedom to regroup or reorganise.
The latest operations also illustrated the growing synergy between ground surface forces and air assets, particularly ISR-enabled precision strikes that exploit real-time intelligence to devastating effect.
The loss of Balangaje and the destruction of multiple hideouts across Chiralia, Gava and IRONS GATE axes further compress ISWAP fighters into smaller, more exposed pockets, increasing the likelihood of defections, internal fragmentation and further leadership losses.
As of press time, operations across the Sambisa Forest were ongoing.
The latest successes reaffirm the momentum of Operation Hadin Kai and suggest that insurgent groups entering 2026 are doing so under sustained pressure, shrinking space and growing internal anxiety over survival.
Multiple terrorists neutralised in Sambisa as coordinated strikes unsettle ISWAP commanders
News
Gunmen abduct village head in Kwara, wife injured
Gunmen abduct village head in Kwara, wife injured
By: Zagazola Makama
Gunmen have abducted the village head of Afin community in Babanla area of Kwara State, injuring his wife during the attack.
Security sources said the incident occurred at about 10:00 a.m. on Jan. 2, when the assailants invaded Afin Village via Babanla, firing sporadically to scare residents.
The sources said the attackers whisked away the village head, Oba Simeon Olaonipekun, while his wife sustained gunshot injuries during the attack.
She was rushed to the General Hospital, Omu-Aran, for medical treatment.
Following the incident, security personnel and local vigilantes were mobilised to the area to track the assailants and rescue the abducted traditional ruler.
The sources said the scene of the incident was visited as efforts continued to trail the gunmen and prevent further attacks in the area.
Investigation into the abduction, the sources added, was ongoing.
Gunmen abduct village head in Kwara, wife injured
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News9 months agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
