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Nigeria missing as 11 African countries projects strong growth in 2024
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By Francesca Hangeior
Nigeria is missing from the list of 11 African countries expected to experience strong growth in 2024.
According to the African Development Bank Group, in its latest Macroeconomic Performance and Outlook of the continent, Africa will account for 11 of the world’s 20 fastest-growing economies in 2024, but Nigeria is not expected to be one of them.
AfDB said the top 11 African countries projected to experience strong economic performance are Niger (11.2 per cent), Senegal (8.2 per cent), Libya (7.9 per cent), Rwanda (7.2 per cent), Cote d’Ivoire (6.8 per cent), Ethiopia (6.7 per cent), Benin (6.4 per cent), Djibouti (6.2 per cent), Tanzania (6.1 per cent), Togo (6 per cent), and Uganda (6 per cent).
The International Monetary Fund reduced its forecast for Nigeria and its economic growth to 3 per cent in 2024, down from a 3.1 per cent projected in October 2023. This is contained in the Washington-based institution’s World Economic Outlook update for January 2024.
Overall, the AfDB report said that the real gross domestic product growth for the continent is expected to average 3.8 per cent and 4.2 per cent in 2024 and 2025, respectively. This is higher than projected global averages of 2.9 per cent and 3.2 per cent, the report said.
The continent is expected to remain the second-fastest-growing region behind Asia.
The President of the AfDB, Akinwumi Adesina, spoke during the launch of the report on the sidelines of the 37th Ordinary Session of the Assembly of the African Union – Addis Ababa, Ethiopia.
Adesina said, “Today, as we gather here, like other regions of the world, Africa continues to face multiple crises, including rising cost of living, weakening economic growth, a tightening of global financial conditions, shortage of concessional resources, increasing effects of climate change, lingering impacts of health pandemics, conflict, and geopolitical tensions.
“The interaction of these global and regional crises with existing regional structural weaknesses threatens to halt Africa’s gradual economic recovery and is hindering socioeconomic developments.”
“Despite the challenging global and regional economic environment, 15 African countries have posted output expansions of more than 5 per cent,” he added.
Adesina further called for larger pools of financing and several policy interventions to boost Africa’s growth.
The latest report is calling for cautious optimism given the challenges posed by global and regional risks. These risks include rising geopolitical tensions, increased regional conflicts, and political instability—all of which could disrupt trade and investment flows, and perpetuate inflationary pressures.
Presenting the key findings of the report, the African Development Bank’s Chief Economist and Vice President, Prof. Kevin Urama, said, “Growth in Africa’s top-performing economies has benefited from a range of factors, including declining commodity dependence through economic diversification, increasing strategic investment in key growth sectors, and rising both public and private consumption, as well as positive developments in key export markets.
“Africa’s economic growth is projected to regain moderate strength as long as the global economy remains resilient, disinflation continues, investment in infrastructure projects remains buoyant, and progress is sustained on debt restructuring and fiscal consolidation.”
Highlighting the importance of collaboration, the Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, African Union Commission, Ambassador Albert Muchanga, said, “The future of Africa rests on economic integration. Our small economies are not competitive in the global market. A healthy internal African trade market can ensure value-added and intra-African production of manufactured goods.”
The Federal Government has endorsed a new examination fee of N50,000 for candidates sitting the West African Examinations Council (WAEC) and National Examinations Council (NECO) Senior School Certificate Examinations (SSCE), effective from 2027.
The approval was conveyed in a statement dated June 18 and signed by the Director of Senior Secondary Education at the Federal Ministry of Education, Adeniji Ibrahim. According to the statement, the decision followed a request by WAEC for an upward review of the SSCE registration fee for candidates from 2027.
The new fee represents an 82 per cent increase from the current registration fee of N27,500. Ibrahim explained that the decision stemmed from a meeting held on March 31, 2026, between the Minister of Education and examination bodies, where the need to review examination fees was discussed.
He stated that the Minister directed both WAEC and NECO to adopt a uniform examination fee for the conduct of their SSCE examinations.
You may recall that at a meeting of examination bodies held with the Honourable Minister of Education on March 31, 2026, where the need for an upward review of examination fees was discussed, the Honourable Minister directed that WAEC and NECO should adopt a uniform fee for the conduct of WAEC and NECO SSCE,” the statement read.
“Consequently, I am directed to convey the Honourable Minister of Education’s approval of the sum of Fifty Thousand Naira (N50,000) only as the new examination fee per candidate, with effect from NECO SSCE (Internal), 2027.”
The ministry also directed that the approval be communicated to all relevant stakeholders.
Confirming the development, the Ministry of Education’s Director of Press and Public Relations, Folasade Boriowo, told TheCable that the Federal Government had approved the upward review of the examination fees.
“I can confirm the approval of an upward review of the examination fees. I spoke with the director in charge a few minutes ago and he said the approval was done,” she said.
An Iranian newspaper has published a controversial list naming former U.S. President Donald Trump, Israeli Prime Minister Benjamin Netanyahu, and several European leaders as alleged targets for revenge following the killing of Iran’s former Supreme Leader, Ali Khamenei.
The publication is linked to hardline elements in Iran but it is not clear whether the list reflects official Iranian government policy.
The report comes amid heightened tensions after Khamenei’s death and follows renewed vows of retaliation by Iran’s current Supreme Leader, Mojtaba Khamenei, who has publicly promised revenge for his father’s assassination.
The newspaper’s publication has raised international concern, with analysts warning that such inflammatory rhetoric could further escalate the already volatile security situation in the Middle East. While the list has attracted widespread attention, there has been no official confirmation that it represents an operational threat or an approved policy of the Iranian government.
The development comes as tensions between Iran, the United States, Israel, and their allies remain at one of their highest levels in recent years, with governments closely monitoring the situation for any signs of further escalation.
News
Military identifies Army lieutenant who paid supreme sacrifice in rescue of abducted Oyo pupils, teachers
Military sources have confirmed the death of an Army officer, Lieutenant F.A. Isaac, during the operation that rescued 44 abducted pupils and teachers from the Old Oyo National Park.
The victims were rescued on July 10, 2026, in a coordinated operation involving security agencies after spending several days in captivity.
According to the sources, Lieutenant Isaac was killed in the line of duty during the rescue mission and was buried the same day.
Oyo State Governor Seyi Makinde had earlier confirmed that the military recorded a casualty during the operation.
Sources said Lieutenant Isaac was among the officers leading efforts to rescue the abducted pupils and teachers when he was fatally wounded.
The pupils and teachers were abducted in Oriire Local Government Area of Oyo State on or about June 6, 2026, before their eventual rescue by security operatives.
FG jerks WAEC exam fees by 82%, parents to pay N50k
Iranian Newspaper lists Trump, European leaders as alleged revenge targets
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