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Nigeria missing as 11 African countries projects strong growth in 2024
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.”
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ECOWAS supports Nigeris, insists Niger’s allegation, mere imagination
The Economic of West African States (ECOWAS) has described terrorism allegations against Nigeria and other member states by Niger Republic as “unfounded”, saying it is solidly behind its members.
Niger Republic had accused Nigeria and other ECOWAS members of colluding with France to destabilise the country.
However, ECOWAS in a statement on Thursday described the allegations as “unfounded”.
“The Commission of the Economic and West African Staes (ECOWAS) expresses deep concern over allegations being made against Nigeria and other ECOWAS member states.
“The Commission stands firmly by Nigeria and ECOWAS member states against allegations that they are sponsoring terrorism.
For years, Nigeria has supported peace and security of several countries not only in the West African subregion but also on the African continent.
“The recent successes recorded by the Multinational Joint Task Force (MNJTF), which Nigeria leads, demonstrate the country’s commitment to peace and security across the region.
“ECOWAS therefore, refutes any suggestion that such a generous and magnanimous country would become a state-sponsor of terrorism,” the statement read in part.
ECOWAS then called on all states in the region to promote dialogue and stability and refrain from making accusations that are not supported by any evidence.
The Federal Government had on Thursday denied Niger Republic’s allegation.
The Minister of Information and National Orientation, Mohammed Idris, made the rebuttal in a statement, amid claims by Niger Republic’s military leader, General Abdourahamane Tchiani, that Nigeria was working with France against his country.
News
Nigeria Expresses Concern Over Post-Election Violence in Mozambique
By Gloria Ikibah
The Federal Republic of Nigeria has expressed deep concern over the escalating violence that has erupted in Mozambique following its recent presidential elections.
Reports indicate that the unrest, concentrated in the capital city of Maputo and major cities like Beira and Nampula, has led to the loss of over 121 lives and left more than 380 people injured.
The violence reportedly began after Mozambique’s Constitutional Council confirmed Daniel Chapo of the Mozambique Liberation Front (FRELIMO) as the winner of the presidential election with 65% of the vote. The opposition, rejecting the results, has raised tensions, triggering widespread protests and clashes.
In a statement issued by the Acting Spokesperson of Nigeria’s Ministry of Foreign Affairs, Kimiebi Imomotimi Ebienfa, the Nigerian government called for calm, and urged all political actors in Mozambique to pursue legal avenues to address grievances.
Nigeria also extended its sympathies to the Mozambican government and the families of those affected by the crisis.
“The Federal Government of Nigeria advises aggrieved parties to explore appropriate legal means to seek redress.
“Our thoughts are with the Government of the Republic of Mozambique and the families of all those affected by this dreadful crisis,” the statement read.
The Federal Government furth willer reaffirmed its commitment to supporting peace and stability in Africa, and called for dialogue and restraint to resolve the unfolding conflict.
News
Again, Niger Military Junta Insists France Backing Nigeria To Establish Terrorist Operational Base In Sokoto, Others
General Abdourahamane Tiani, Niger Republic Head of State, has accused France of planning to establish a terrorist operational center in Gaba, a forested area in Sokoto State, Nigeria.
Tiani further alleged that the Nigerian government is aware of these intentions and has been complicit in France’s destabilization efforts in the region.
According to Tiani, France is also purportedly providing financial backing to Nigerian authorities to set up a military base in Borno State, under the guise of combating terrorism, with the ulterior motive of destabilizing Niger and its neighboring countries.
Tiani disclosed that Niger’s intelligence had gathered information from arrested terrorists who reportedly disclosed France’s plan to set up a terrorist base in Sokoto with terrorists known as ‘Lakurawa.’
This intelligence, according to Tiani, was passed on to Nigerian authorities for verification.
He revealed how Niger officials had contacted Ahmed Rufai Abubakar, the former Director-General of Nigeria’s National Intelligence Agency (NIA), for confirmation.
He said, despite assurances from Abubakar that his team would investigate, Tiani claims that the intelligence was mishandled, and no further action was taken, as Abubakar is allegedly linked to the terrorist network.
He alleged that since the French government became involved, knowing that Chadian military had targeted terrorists with airstrikes, they provided the terrorists with sophisticated weapons capable of bringing down military jets.
“It is France that gave the weapons to Boko Haram terrorists, so that if a Chadian military jet came to strike them, the terrorists could use the weapons provided by the French government to bring it down.
“They struck on October 16, when France supplied them with the weapons. The information we gathered from the terrorists we arrested indicated that there is an ongoing discussion, and Nigerian leaders are aware of it,” Tiani stated.
He said, “There is a forest called ‘Gaba’ in Sokoto, where they are planning to establish an operational center for terrorists, named ‘Lakurawa’.
“We received intelligence on March 4 that France and ISWAP were planning to set up an operational center in Sokoto, Kebbi, and Zamfara to prepare positions for terrorist activities.”
Tiani further explained that one of the terrorists they arrested informed them that the Nigerian government is well aware of the operational centers for terrorists in Sokoto.
“However, we dismissed his claim as false because he was unwilling to allow us to share this information with the Nigerian government. As Niger and Nigeria are closely connected, we felt it was our responsibility to report any information that could be harmful.
“We reported what France was planning to do to the Director-General of the National Intelligence Agency (NIA), Ahmed Rufai Abubakar, as we were unaware of these developments.
“He assured us that he would send personnel to gather more information. We took on their responsibilities, and there was no location we did not visit or have exclusive discussions with the arrested terrorists,” he said The terrorists disclosed everything about France’s plans to establish a terrorist base in Sokoto.
The intelligence was then returned to Nigeria. “We later discovered that the person we contacted, Ahmed Rufai Abubakar, is one of the individuals used by the West as a negotiator.
He supervises the terrorists and is also sent to a country called the Central African Republic. If the terrorists are arrested, he is the one responsible for bailing them out, as well as handling their weapons and providing money for food. He oversees the entire process,” Tiani explained.
“After learning this, things began to fall apart. We had trusted the wrong people, and once we discovered the truth, we were left unsure of who to trust or confide in about the situation in Nigeria.
“Meanwhile, Nuhu Ribadu is aware of the entire issue, but everyone involved has kept silent about it. “Having seen how things played out, we decided to take matters into our own hands. If the Lakurawa terrorists are arrested, we are now considering what to do.” Tiani added that France has launched its base in Benin Republic to also monitor neighboring countries that oppose them.
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