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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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ECOWAS Unveils Comprehensive Digital Ecosystem for Gender Development at Regional Workshop in Senegal

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ECOWAS Unveils Comprehensive Digital Ecosystem for Gender Development at Regional Workshop in Senegal

By: Michael Mike

The Economic Community of West African States (ECOWAS) has launched a new Digital Ecosystem for the ECOWAS Centre for Gender Development (CCDG), marking a major step toward improving regional data management and collaboration on gender equality.

The unveiling took place during a five-day regional capacity-building workshop holding from 24 to 28 November 2025 in Saly, Senegal.

The workshop, convened under the supervision of the ECOWAS Commissioner for Human Development and Social Affairs, brought together gender experts, national focal points, technical staff of the ECOWAS Commission, and representatives of partner organisations.

The newly launched CCDG Digital Ecosystem comprises five interconnected platforms: the CCDG website, the ECOWAS Gender Equality Observatory (ECOGO), a virtual workspace, an artificial-intelligence–powered support system and the CCDG web security command centre.

According to officials, the digital system is designed to simplify real-time data collection, improve reporting consistency across Member States, and strengthen joint action on gender initiatives throughout the region.

By the end of the workshop, the Digital Ecosystem is expected to become fully institutionalised, enabling ECOWAS Member States and the Commission to use the platforms for more accurate monitoring, evidence-based policymaking, and more effective coordination of gender-related programmes.

Participants included CCDG Gender Focal Points from all ECOWAS Member States, personnel from ECOWAS institutions and agencies, national teams of the “50 Million African Women Speak” initiative, members of the Community of Practice on Gender and Climate Change, civil society organisations, development partners, and media representatives.

Facilitators emphasised that the launch is not only a technological advancement but also a strategic investment in strengthening gender governance across West Africa.

The Economic Community of West African States was established in 1975 with the signing of the Treaty of Lagos by 15 West African Heads of State and Government, with the goal of promoting economic integration and cooperation across the region. Cabo Verde joined in 1977, while Mauritania—initially a founding member—withdrew in 2000 and later signed an associate membership agreement in 2017.
On 29 January 2025, Burkina Faso, Mali and Niger formally exited the bloc.

Current ECOWAS Member States include: Benin, Cabo Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Nigeria, Sierra Leone, Senegal, and Togo.

Recognised as one of the building blocks of the African Economic Community, ECOWAS aims to promote collective self-sufficiency, strengthen trade integration, and eliminate barriers to regional unity. Its work spans multiple sectors including industry, transport, telecommunications, agriculture, energy, natural resources, finance, and social development.

The ECOWAS Secretariat was restructured into a Commission in 2007, headed by a President and supported by a Vice President, Commissioners, and an Auditor-General. The organisation’s budget is sustained largely through the Community Levy—a 0.5% charge on imports from non-ECOWAS countries.

Ongoing reforms and programmes are geared toward achieving ECOWAS’ long-term transformation agenda: transitioning from an “ECOWAS of States” to an “ECOWAS of the People: Peace and Prosperity for All” by 2050.
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New scandal rocks Yobe NSCDC as herder alleges multi-million naira extortion by Agro Rangers Commander

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New scandal rocks Yobe NSCDC as herder alleges multi-million naira extortion by Agro Rangers Commander

By: Zagazola Makama

A fresh storm is sweeping through the Yobe State Command of the Nigeria Security and Civil Defence Corps (NSCDC), following explosive allegations by a livestock owner who says senior Agro Ranger officers unlawfully detained, extorted, and converted his animals for personal use.

The victim, Alhaji Ardo Dan Karami, a respected pastoralist from Kumari Village in Damaturu LGA, is accusing Assistant Commandant Ahmed Isa Michika, head of the NSCDC Agro Rangers Unit in Yobe, and his team of perpetrating what he describes as “daylight robbery under the cover of uniform”.

This latest scandal comes barely months after the NSCDC Command in Yobe was mired in a major corruption case involving the escort of vandalised and stolen railway materials, a development that led to the removal of the then State Commandant.

According to a petition filed by Dan Karami through his lawyer, the ordeal began on Oct. 18, 2025, when Agro Rangers personnel stormed his home in his absence and arrested 340 cows and 18 sheep, accusing them of destroying a farm. The animals were transported to Damaturu, but what followed, according to the victim, “was nothing short of criminality”.

The officers allegedly slaughtered one of the sheep claiming it had a fracture but refused to hand over the carcass to its owner. Even more troubling, three cows were reportedly loaded into their official Hilux vehicle, never to be seen again.

Later, one of the missing cows, which was heavily pregnant at the time of arrest, was discovered to have delivered and died in custody at the Damaturu Pilgrims Camp under the NSCDC’s watch. The remaining two cows are still missing. The petition states that before the officers agreed to even “open the case”, they demanded ₦250,000 from the victim.

After admitting to holding the livestock, the officers then compelled the herdsman to pay ₦2,000,000 as “compensation” for alleged farm damage, despite no court process, no assessment, and no verification of the claim.

But the extortion allegedly did not end there.
The officers reportedly charged ₦3,000 per cow as “bail money” for 300 cows, amounting to close to another ₦900,000. In essence, the victim was allegedly forced to pay: 250,000 “case opening fee”,2,000,000 “compensation” and 900,000 “bail fees” for the cows, bringing total alleged extortion to ₦3,150,000.

After these payments, only 340 cows and two sheep were released. However, 15 sheep, one ram, one slaughtered sheep, and two cows remain unaccounted for, animals the victim values at ₦6.25 million.

When senior authorities from Yobe Sate Government confronted Assistant Commandant Michika and his deputy over the matter, they were forced to refund ₦900,000.
But rather than admit the full amount collected, they allegedly claimed they took only ₦800,000, and said they had already spent ₦50,000 from it. Despite being caught in this contradiction, no known disciplinary action has yet been taken.

This is not the first time that the NSCDC Yobe Command has found itself entangled in accusations of corruption and criminal collusion.
On July 8, 2025, troops of Operation Hadin Kai intercepted a truck loaded with vandalised railway iron sleepers along with a shiny NSCDC-marked Hilux van escorting the stolen materials. Inside the vehicle were five NSCDC officers, They were escorting the loot.

A total of ₦128,500 in bribe money was found stuffed inside the inner clothing of one of the officers. The scandal was so damning that it triggered the removal of the State Commandant.

In community pushed to the brink and region still plagued by insecurity, such actions by security personnel could worsen tensions.

Beyond the financial loss and personal trauma, the victim’s lawyer warns that the actions of the NSCDC officers carry serious security implications for Yobe State and the entire North-East.

In the petition, the counsel stressed that incidents of extortion, illegal seizure of livestock, and abuse of pastoral communities are not isolated misdemeanours — they are triggers of insecurity.

“Acts of injustice like this, if not swiftly addressed, are capable of escalating into full-blown security crises,” the petition warned.

The lawyer cited examples from Zamfara, Katsina, Sokoto, and parts of Niger and Kaduna States, where years of unchecked harassment, extortion, illegal arrests, and exploitation of Fulani pastoralists by certain security operatives and local vigilantes eventually contributed to the rise of banditry.

New scandal rocks Yobe NSCDC as herder alleges multi-million naira extortion by Agro Rangers Commander

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Troops repel ISWAP attack near Kareto, recover rifles

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Troops repel ISWAP attack near Kareto, recover rifles

By: Zagazola Makama

Troops of the Nigerian Army, Operation HADIN KAI have repelled an attempted ambush by ISWAP fighters near Wakilti village, close to Kareto in Borno State, recovering two motorcycles and an AK-47 rifle from the fleeing terrorists.

Zagazola Makama learnt from reliable sources that the encounter occurred on Monday at about 1:30 p.m., when troops of 145 Battalion (Main) on Main Supply Route (MSR) patrol and piquetting duties, operating in conjunction with Keystone operatives and members of the Civilian Joint Task Force (CJTF), made contact with the insurgents around Wakilti.

The sources said that the troops engaged the terrorists in a heavy firefight, forcing them to retreat in disarray after coming under superior firepower.

According to the source, the soldiers pursued the fleeing fighters but made no further contact.

“During exploitation of the scene, troops recovered two motorcycles, one AK-47 rifle fitted with a magazine. The enemy casualty figure is still unconfirmed,” the source said.

A reinforcement team from Operation HADIN KAI later linked up with the patrol team and dominated the route to prevent further infiltration.

The source said that there was no casualty recorded on the side of the troops.

The sources further added that the Army has intensified Operation Desert Sanity IV under Operation Hadin Kai, with increased surveillance and patrols aimed at denying terrorists freedom of movement around critical routes and communities.

Troops repel ISWAP attack near Kareto, recover rifles

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