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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

Residents Cheer Troops as Operation FANSAN YAMMA Returns with Captured Terrorists’ Logistics in Zamfara

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Residents Cheer Troops as Operation FANSAN YAMMA Returns with Captured Terrorists’ Logistics in Zamfara

By Zagazola Makama

Residents of Gummi town in Zamfara State on Thursday poured into the streets to celebrate troops of the Joint Task Force North West, Operation FANSAN YAMMA, following a major operational success against terrorists in the area.

Eyewitnesses said the jubilant crowd gathered as soldiers arrived in town with logistics recovered from terrorists after a successful counter-ambush operation that reportedly left more than 100 terrorists neutralised.

The recovered items, including eight motorcycles used by the armed groups for movement during attacks on communities, were transported on an Armoured Personnel Carrier (APC) to the Headquarters of Operation FANSAN YAMMA in Gummi.

Residents were seen cheering, waving at the troops and applauding their efforts as the convoy entered the military base, with many expressing appreciation for the soldiers’ courage and sacrifices in the ongoing fight against banditry in the North West.

Security sources told Zagazola Makama that the successful operation dealt a significant blow to the criminal networks operating in the area, disrupting their mobility and logistical capabilities.

The spontaneous celebration by residents is seen as a reflection of growing public confidence in the military’s sustained offensive against terrorists and bandits across Zamfara and neighbouring states.

Military authorities reaffirmed that Operation FANSAN YAMMA remains committed to sustaining offensive operations aimed at dismantling terrorist enclaves, denying criminal elements freedom of movement, and restoring lasting peace across the North West.

The Joint Task Force also acknowledged the continued support and actionable intelligence provided by residents, describing community cooperation as critical to the success of ongoing operations.

Residents Cheer Troops as Operation FANSAN YAMMA Returns with Captured Terrorists’ Logistics in Zamfara

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WAHO, AfDB Hand Over 10 Ambulances, Medical Equipment to The Gambia in $3.4m Health System Boost

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WAHO, AfDB Hand Over 10 Ambulances, Medical Equipment to The Gambia in $3.4m Health System Boost

By: Michael Mike

The Gambia – The Economic Community of West African States (ECOWAS), through the West African Health Organization (WAHO), on Friday handed over 10 fully equipped four-wheel-drive ambulances and critical medical equipment to The Gambia in a major effort to strengthen the country’s emergency response capacity and bolster regional health security.

The intervention, financed by the African Development Bank (AfDB) under the COVID-19 Exceptional Emergency Project for Low-Income ECOWAS Member States, represents an investment of approximately $3.4 million in The Gambia out of the project’s overall $22.3 million regional budget.

The medical equipment includes oxygen concentrators, haemodialysis machines, X-ray machines, anaesthetic machines, patient monitors, diagnostic tools, biomedical engineering equipment and other critical supplies aimed at improving emergency, diagnostic and specialised healthcare services.

Speaking at the handover ceremony in Banjul, President of the ECOWAS Commission, Dr. Omar Alieu Touray, described the intervention as a landmark demonstration of regional solidarity, stressing that the investment extends beyond the COVID-19 pandemic to building resilient health systems capable of responding to future public health emergencies.

Touray, a Gambian, said returning home to witness the delivery of the project carried deep personal significance.

“It is with immense pride, profound emotion and a deep sense of honour that I stand before you today in my own home country. To return to my homeland and witness the tangible fruits of our regional cooperation is deeply humbling and inspiring,” he said.

He explained that WAHO, as a specialised institution of ECOWAS, was funded through the ECOWAS Community Levy paid by citizens across the region, adding that the project reflected what West African countries could achieve through collective action.

“When the COVID-19 pandemic struck, it exposed the vulnerabilities of our health systems, but it also ignited our collective resolve. We learned that we are indeed better and stronger together,” Touray stated.

According to him, the project has trained 1,427 health professionals, equipped 55 points of entry across participating countries and supplied thousands of sets of personal protective equipment.

He disclosed that The Gambia recorded a 100 per cent physical completion rate for all project interventions, while 852 health workers and stakeholders were trained between 2024 and 2025 in Integrated Disease Surveillance and Response (IDSR), Incident Management Systems, Infection Prevention and Control, among other critical areas.

The ECOWAS Commission President said the newly donated ambulances and equipment would significantly improve emergency medical services and expand access to life-saving healthcare, particularly for vulnerable communities.

“As we receive these materials today, let us remember that they represent more than just tools. They represent hope, resilience and our shared commitment to protecting the lives and dignity of every West African,” he said.

Receiving the equipment on behalf of President Adama Barrow, the Vice President of The Gambia, Mohammed Jallow described the donation as a direct response to critical gaps in healthcare delivery, especially in rural communities where transporting critically ill patients to health facilities remains a major challenge.

He said the ambulances would serve as “vehicles of hope” and improve responses to road traffic accidents, obstetric emergencies and infectious disease outbreaks.

The Vice President commended WAHO, the African Development Bank and the Government of Germany for their continued support to The Gambia’s health sector, noting that the intervention demonstrated the tangible benefits of regional cooperation.

“This support represents a significant investment in our health system and demonstrates that, through collective action, ECOWAS member states and their partners can deliver results that directly improve the lives of ordinary citizens,” he said.

He charged the Ministry of Health and healthcare workers to ensure proper maintenance and accountability in the management of the newly acquired assets.

“Please ensure that spare parts are available, maintenance schedules are strictly followed, and that these vehicles and medical equipment remain fully operational at all times,” he urged.

Earlier, The Gambia’s Minister of Health, Dr. Ahmadou Samateh. praised WAHO for what he described as years of unwavering support to the country’s health sector through capacity building, technical assistance and training programmes.

He noted that hardly a month passed without WAHO sponsoring Gambian health professionals for training within and outside the country, describing the organisation as one of the country’s most dependable health development partners.

The minister said the donation was unprecedented in the country’s history.

“To the best of my knowledge, we have never received such a donation of ambulances from any institution in this quantity at one time,” he said.

The ceremony, which also coincided with WAHO’s anniversary celebration, was attended by the Director-General of WAHO, Dr. Melchior Aïssi, representatives of the African Development Bank, the German Government, senior ECOWAS officials, members of the Gambian Cabinet, development partners and senior government officials.

The intervention is expected to strengthen The Gambia’s emergency medical response system while reinforcing ECOWAS’ broader strategy of building resilient regional health systems capable of responding to future disease outbreaks and other public health emergencies.

WAHO, AfDB Hand Over 10 Ambulances, Medical Equipment to The Gambia in $3.4m Health System Boost

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Farmer killed by Fulani bandits in fresh Plateau attack as cycle of violence deepens

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Farmer killed by Fulani bandits in fresh Plateau attack as cycle of violence deepens

By Zagazola Makama

A farmer has been killed in a fresh attack by yet-to-be-identified gunmen in Butura Gida village, Bokkos Local Government Area of Plateau State, in the latest incident pointing to the persistent cycle of violence between farming and herding communities.

Security sources told Zagazola Makama that the attack occurred at about 7:47 p.m. on Tuesday, July 8, prompting troops of Sector 5 of Operation Enduring peace to mobilise to the community after receiving a distress call.

On arrival, the troops found the victim’s lifeless body. The attackers had fled the scene before security personnel arrived, and no contact was made.

A manhunt has since been launched to identify and apprehend those responsible for the killing.

The latest incident came less than 24 hours after a 13-year-old herder, Mustapha Abdul Kadir, was found dead alongside four cattle in Mangu Local Government Area in what authorities suspected was an attack by armed militia.

Earlier the same day, two residents were also killed in Torok community in Riyom Local Government Area in an attack blamed on suspected Fulani bandits.

The succession of attacks illustrates the entrenched and increasingly vicious pattern of retaliatory violence that has continued to plague Plateau State.

Killings of farmers are often followed by attacks on herders, while attacks on herders frequently trigger reprisals against farming communities, creating a dangerous cycle that has claimed hundreds of lives and destroyed livelihoods over the years.

Despite sustained military deployments, peace meetings and community engagements, mistrust between the two groups remains deep, with criminal elements exploiting the fragile security situation to perpetrate violence.

Zagazola warn that unless perpetrators on all sides are brought to justice and local grievances addressed, the state risks remaining trapped in an endless cycle of revenge attacks.

Farmer killed by Fulani bandits in fresh Plateau attack as cycle of violence deepens

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