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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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Military airstrikes eliminate scores of ISWAP terrorists in Borno operations

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Military airstrikes eliminate scores of ISWAP terrorists in Borno operations

By: Zagazola Makama

Precision air interdiction missions conducted by the Nigerian Air Force component of Operation HADIN KAI have eliminated scores of ISWAP terrorists in separate coordinated strikes at Kangarwa and Ali Jilamari areas of the Northern Tumbuns in Borno State.

Military sources told Zagazola Makama that the operations were executed on April 1, following credible intelligence and confirmatory Intelligence, Surveillance and Reconnaissance (ISR) missions.

The source said the first strike was carried out at about 12:05 p.m. on ISWAP enclaves in Kangarwa, a known terrorist stronghold, after ISR conducted on March 27 confirmed mass movement of fighters within the location.

According to him, airborne surveillance identified multiple terrorists operating around and inside structures within the enclave before precision munitions were delivered in successive attack passes.

He said the targeted structures were completely destroyed, with scores terrorists neutralised in the strike, while others scampered for safety in different direction.

In a separate operation at about 4:45 p.m. the same day, the air component conducted another interdiction mission at Ali Jilamari, described as a newly established terrorist hideout in the Northern Tumbuns.

The source said the mission followed credible human intelligence and ISR confirmation, which revealed active terrorist logistics hubs and structures within the area.

He added that the air platforms engaged the targets with precision strikes, destroying identified structures and logistics hubs while eliminating additional terrorists.

The source described the operations as part of sustained air offensives aimed at degrading terrorist capabilities and denying them freedom of movement in the Lake Chad Basin.

Military airstrikes eliminate scores of ISWAP terrorists in Borno operations

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VeryBlackDarkMan denies inciting violence in plateau, gives detailed defence of viral comments

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VeryBlackDarkMan denies inciting violence in plateau, gives detailed defence of viral comments

By: Zagazola Makama

Popular social media personality, Martins Vincent Otse, also known as VeryBlackDarkMan, has issued a detailed response to allegations that he incited violence during the recent unrest in Plateau, insisting that his remarks were taken out of context and misrepresented.

The controversy followed a viral video in which Otse, reacting to the March 29 attack in Angwan Rukuba, made statements that critics interpreted as a call to violence.

Otse urged residents not to rely on government intervention, saying: “If you keep quiet and wait for the government… it won’t be the first time, it won’t be the second time… when does this stop? You promise us security, but nobody is secure!”

The content creator also appeared to call for a shift from passive reactions to active confrontation, stating: “No be only Boko Haram sabi kill, no be only bandit sabi kill. All of us fit kill… all of us na Killers, until you ready. No ever to say you no get the mind. You fit kill person. You can kill people. And for these people oh my God.

He added: “Please protect yourselves and don’t wait for the government.”

He further called on the “To the people of Rukuba Enough is Enough, Enough is Enough. Anybody wey you see wey cross your part, KILL AM

However, few hour’s after his emotional outbursts violence quickly began to spread in the Northern part of Plateau. The same night, some youths of Rukuba went on rampage and began targeted killings especially in the Muslim communities.

The remarks triggered widespread backlash, with some commentators accusing him of encouraging reprisals and fuelling religious tension.

However, in a follow-up video, Otse strongly refuted the allegations, maintaining that he never called for violence against any religious group. “Where did I ever say Christians should kill Muslims? When? Show me where I said that,” he said, visibly angered by the accusations.

Providing context to his earlier comments, Otse explained that his reaction was shaped by the traumatic experience of witnessing the aftermath of the killings in Jos.

“I was standing in the middle of dead bodies. Pregnant women, fathers, mothers, children… over 20 people lying there. This is not the first time I have seen something like that. What do you expect me to say in that moment?” he said.

According to him, his statements were an emotional outburst driven by frustration over repeated violence and what he described as inadequate response by authorities.

“The government is not doing anything. People are being killed again and again. So what do you want me to say?” he asked.

Otse clarified that his intention was to urge communities to be vigilant and protect themselves, not to attack others.

“I only said people should protect themselves. I said if you see suspicious movement, defend yourself. That is not the same as telling people to kill others,” he said.

He argued that his words were deliberately twisted to create a false narrative portraying him as promoting religious violence.

“This narrative that VeryDarkMan told Christians to kill Muslims is false. Completely false. People are taking my words out of context and trying to push an agenda,” he said.

The influencer also rejected attempts to frame him as biased against Muslims, noting that he has consistently spoken about violence affecting all Nigerians regardless of religion.

“You can’t say it is only Christians that are dying. Muslims are dying too. People are dying everywhere in this country,” he said.

He cited past incidents in the North-East, including attacks in Borno, to support his argument that insecurity cuts across religious and regional lines.

“Where were these people when bombs exploded in Borno? Monday Market, Post Office junction… people died. Did they speak then?” he queried.

Otse said he had personally visited affected areas, including Borno, to raise awareness and support victims, adding that his advocacy has never been selective.

“I have gone to Borno. I have gone to places where disasters happened, even floods. I have used my platform to raise awareness and help people. This is not about religion for me,” he said.

He further criticised what he described as selective outrage by some social media users and commentators.

“Some people are now acting like they care more about Muslims or Christians, but where were they when others were suffering? Show me what you have done,” he said.

Addressing the broader issue, Otse warned against the growing trend of framing security challenges along religious lines, stressing that such narratives are dangerous.

“Say no to religious war. This is not about Christianity or Islam. This is about Nigerians being killed,” he said.

He emphasised that he does not align himself with any religious divide, insisting that his position has always been neutral.

“I am not speaking for Christians or Muslims. I am speaking for people. I don’t care about religion when it comes to human lives,” he added.

Otse also highlighted what he described as a lack of awareness about the scale of violence in northern Nigeria, attributing it partly to limited social media visibility.

“A lot of people don’t even know what is happening in the North. They don’t see it, so they think it is one-sided. But the reality is different,” he said.

He urged Nigerians to avoid generalisations and stereotyping, warning that such tendencies contribute to division and misunderstanding.

The influencer reiterated his call for unity and collective action against insecurity, rather than blame and division.

“We need peace in Jos. We need peace everywhere. People should stop pushing narratives that will divide us further,” he said.

The incident illustrated the powerful role of social media in shaping public discourse during crises, as well as the risks associated with emotionally charged messaging.

While Otse’s initial comments reflected widespread frustration, the backlash point to the need for caution and clarity in public communication, especially in fragile security environments.

VeryBlackDarkMan denies inciting violence in plateau, gives detailed defence of viral comments

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Troops neutralise eight terrorists in failed ambush operation in Borno

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Troops neutralise eight terrorists in failed ambush operation in Borno

By: Zagazola Makama

Troops of 21 Special Armoured Brigade (21 SAB), in collaboration with Civilian Joint Task Force (CJTF) and hybrid forces, have neutralised eight suspected terrorists during an ambush operation in Bama Local Government Area of Borno.

A military source told Zagazola Makama that the operation was carried out at about 2:06 a.m. on April 1 around the Gadangari axis, behind Government Girls Secondary School (GGSS), Bama.

The source said the troops conducted a planned ambush targeting suspected Boko Haram terrorists and their logistics collaborators operating around the area.

“While lying in wait, the troops intercepted terrorists’ collaborators and logistics suppliers moving towards Yale axis,” the source said.

He added that the troops engaged the targets in a brief exchange of fire, resulting in the neutralisation of eight terrorists, while others escaped with possible gunshot wounds.

The source further noted that follow-up operations were ongoing to track fleeing elements and dismantle their logistics networks in the area.

He assured that the situation remained under control, with troops maintaining aggressive posture in the general area.

Troops neutralise eight terrorists in failed ambush operation in Borno

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