Niger Delta

African Leaders Commit To Implementing Macro-Economic Output Report

Published

3 years ago

February 20, 2023

African leaders have pledged to take immediate action to integrate recommendations from the newly released Africa’s Macro-Economic Performance and Outlook report into their national development plans.
The leaders made the pledge at the on-going 36th African Union (AU) Summit in Addis Ababa.
In a statement issued on African Development Bank’s (AfDB) website, they spoke during presentation of the bank’s Macroeconomic Performance and Outlook Report.
Zambian President, Hakainde Hichilema, said the study, conducted by the AfDB group, provided an impetus for the continent’s leaders to forge ahead with needed reforms.
Hichelema, represented by his Minister of Finance and National Planning, Dr Situmbeko Musokotwane, described the report as a significant milestone in the quest for evidence-based knowledge.
According to him, the report will inform policymaking for a more prosperous and sustainable future for Africa.
“The findings of this important report, therefore, provide us with a set of concrete policies that we must urgently implement to sustain the recovery and build resilience in Zambia and on the continent.
“Although, Zambia was not spared from global shocks, the country’s economy has shown resilience,” he said.
Hichelema acknowledged the impact of Zambia’s heavy debt burden on the country’s fiscal stability.
He said his administration had inaugurated reforms that would spur economic growth to 4.0 per cent in 2023 and 4.3 per cent in 2024.
The Tide source reports that the AfDB group released the inaugural Africa’s Macroeconomic Performance and Outlook report on January 19.
It has since attracted significant interest among decision-makers in Africa and globally.
The bi-annual report offers policymakers, global investors, researchers, and other development partners up-to-date, evidence-based assessments of the continent’s recent macroeconomic performance.
It also provides a short-to-medium-term outlook.
The AU Commission Chairperson, Moussa Mahamat, said the report would be presented to heads of state at the African Union Summit to help steer national planning.
“Knowledge is power. The report, to be published twice a year, is a wealth of knowledge with deep insight into what is going on in Africa in the macroeconomic sphere.
“It identifies challenges and opportunities for the good of our continent.
“If governments, the private sector, and other stakeholders adopt the report, they will be better placed to make informed decisions.
“The report calls for timely structural reforms to enhance government-enabled private-sector industrialisation in key areas,” Mahamat said.
Nigeria’s Minister of Finance, Budget, and National Planning Zainab Ahmed said the issues in the report also affected Nigeria.

Ahmed said, “We have steered the country toward pre COVID-19 era, but we still face some challenges.

“We have been asking for a liquidity facility as part of the SDRs (Special Drawing Rights) to act as a cushion for us. We have also asked multilateral development banks to give us longer-term financing.

“Nigeria has shown a lot of resilience. We just need that support to enable us to take the full potential.”

AfDB President, Dr Akinwumi Adesina observed that although African economies had shown impressive resilience, global support was needed to help the continent navigate financial burdens and its security challenges.

“In spite the slowdown occasioned by multiple shocks, Africa demonstrated continued resilience in all but one country.

“And maintained a positive growth rate in 2022 with stable outlook in 2023 and 2024. African economies are indeed resilient,” Adesina said.

He called for strong and collective support to Africa to help the continent navigate the challenges it faced, especially debt burden and debt vulnerabilities.

The bank president said, “Africa cannot run up the steep hill carrying a bag of debt on its back.

“The channeling of the additional 100 billion dollars of Special Drawing Rights will make a huge difference.

“We must join hands to harness the enormous opportunities in Africa. There is no doubt that we will make good progress. However, we must work fast, be inclusive, and be competitive.”

Also speaking, Assistant Minister of Finance for Policies and Economic Affairs of Egypt, Dr Mohammed Ibrahim, said the report was helpful.

Ibrahim said it would enable African policymakers and researchers as a timely databank of sound and evidence-based projects for development and planning.

In a presentation, the Director, Centre for Sustainable Development, Columbia University, Prof. Jeffrey Sachs, said that Africa had the capacity to achieve seven to 10 per cent yearly growth.

Sachs observed that Africa could take advantage of its population to grow a robust single market, citing examples like China and India.

“Building a single market will enable Africa to position among the three largest global marketplaces.

“The continent has the greatest growth potential. And I urge African leaders to build vital regional infrastructure and close the infrastructure gaps over the following decades,” he said.

The director urged governments to lead a revolution to bring about affordable access to health care and education.

Sachs called for greater financing for the continent to place it on sustainable growth, observing that the AfDB was critical to meeting the continent’s financial needs.

“The African Union needs to become a permanent of the G-21,” he said.

Acting Chief Economist and Vice President of AfDB, Prof. Kevin Urama, highlighted the importance of Africa’s Macroeconomic Performance and Outlook 2023.

Urama said, “as we gather here today, global macroeconomic conditions have become increasingly uncertain due to multiple overlapping shocks that make policymaking and investment decisions very challenging.

“Countries need regular diagnostics and focused policy actions to address these recurring and overlapping shocks.”

The professor affirmed that Africa remained the place to invest in spite suffering global shocks.

According to the report, African economies, following two years of global shocks, will overcome various domestic and global shocks and return to a path of economic recovery, stability, and growth.

It said lingering effects of COVID-19 pandemic, the ravages of accelerating climate change, and impact of rising geo-political conflicts and tension slowed Africa’s growth to an average of 3.8 per cent in 2022.

It further said to sustain growth, Africa’s economies would require comprehensive information and insights to navigate a labyrinth of intertwined global risks, the report said.

The source reports that the bank will release the report in the first and third quarters of each year to complement its flagship Annual African Economic Outlook.

The AfDB is the first institution to release a macroeconomic outlook for Africa for 2023.

News

China Alerts Rivers, A’Ibom, Abia Govs To Economic Triangle

Published

2 days ago

December 1, 2025

The Tide

The Mayor of Housing, My-ACE China, has alerted the Governor of Rivers, Akwa Ibom, and Abia states to what he calls an emerging ‘Economic Triangle’ within their states.

Mr China, a real estate success strategist who has won numerous local and international awards, has thus drawn the attention of the governors of the concerned states to the emerging development and has urged them to intentionally accelerate the emergence of the economic triangle.

Speaking to newsmen in Uyo, Akwa Ibom State capital at the conclusion of his business trip to the state, Mr China, who is the managing director of the Housing and Construction Mayor Limited, said the envisaged economic corridor would compete favourably with the Lagos economic hub or even better.

He said: “Talking about ‘Economic Triangle’, the only place that can wrest economic power from Lagos is Akwa Ibom, Abia, and Rivers states axis or corridor. This corridor contains more than Lagos has, if they can be interconnected with smooth roads, ports, and if their blue potentials are unlocked. They will not only wrest power from Lagos but would be more lucrative.”

The investor who is behind the emerging Alesa Highlands Green Smart City in Eleme, near Port Harcourt, said the new ‘Economic Triangle’ has a bigger potential due to massive land assets with the corridor plus blue economy and the existing hydrocarbon industry.

Explaining, Mayor of Housing said Aba (Abia State) provides the biggest fabrication capacity in West Africa to supply goods to the Gulf of Guinea; Port Harcourt provides access to the Gulf of Guinea for off-taking Aba products, and the Uyo provides deep sea port at Ibaka and international airport facilities as well as forest reserves for massive agro-economy.

He said with sea ports in Rivers State and deep seaport in Akwa Ibom, and international airports in Rivers and Akwa Ibom, Aba can focus on adequate power supply and fabrication boom to supply a new booming market around the economic triangle.

By doing this, he said, jobs would spill out in huge quantities and more manufacturers would be drawn from all over Africa to boost the fast coming African Continental Free Trade Agreement (AfCFTA). He said Nigeria would thus have two major trade nodes in West Africa; Lagos and the PH/UYO/Aba triangle.

He said goods going to or coming from Chad, Niger, and the rest of Central Africa can head to the Lagos ports or to the Ibaka/PH ports zone in the new economic triangle.

He said with power supply made stable, good roads, excellent security system, and ease of doing business enthroned in the zone, the South-South and South East would become the biggest economic nerve in the near future.

Mayor of Housing called on governors of the three states to be intentional about the new corridor, put away political differences (if any), and create this corridor by agreeing on projects each state would execute with a short period of time so the states would be linked by good roads, communication, security, trade laws, concessions to investors, etc.

He remarked that northerners were already heading to the Onne Port in Rivers State to export goods, saying creating a commission to oversee the development of the ‘Economic Triangle’ would fast-track its emergence.

He observed that people of the three states are peaceful and usually preoccupied with zeal for economic prosperity, saying that if they are linked to such huge opportunities staring at them in the emerging economic triangle, they would totally shun violence and focus on prosperity.

Mr China insisted that the emerging economic triangle would form a big node not only into the Gulf of Guinea economic zone but into Africa because AfCFTA is about production, certification, market availability, and easy transport nodes by sea and air. He said the new economic triangle boasts of all the factors.

“They can only realise this by working together, through collaboration. One state cannot do it but a triangle of the three will create it through seamless interconnection, ports, industrial park, etc. The people will be the richest and internally generated revenue (IGR) will be the biggest in the country,” he said.

Niger Delta

Bayelsa’s Aircraft Makes Inaugural Flight…As Lawmakers, Oil Minister, NDDC’S MD Hail Diri

Published

6 days ago

November 27, 2025

The Tide

Newly acquired ATR-72/600 aircraft by the Bayelsa State Governor on Tuesday November 26, 2025 made its inaugural flight from Abuja, the nation’s capital to the State’s Airport, Amassoma, Yenagoa.

The Tide learnt that the governor Douye Diri’s led administration has acquired two aircrafts.

The aeroplane which took off from the domestic wing of the Nnamdi Azikiwe International Airport, Abuja, at 09:30hrs with about 50 passengers and crew on board.

Governor Douye Diri, the immediate past deputy governor of the state, Rear Admiral Gboribiogha John-Jonah, members of the state’s National Assembly Caucus, the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, Managing Director of the Niger Delta Development Commission, Dr. Sam Ogbuku, President, Ijaw National Congress, Prof. Ben Okaba and the National Chairman, Pan Niger Delta Forum, Dr. Boladei Igali, among others were onboard the inaugural flight of the plane which touched down at the Bayelsa airport at 10:40hrs amid jubilation by a mammoth crowd.

The Tide further reports that the aircraft received the traditional water cannon salute on arrival from the fire trucks at the airport.

The visibly elated State governor, Diri described the celebration as historic, saying it underscored his administration’s commitment to fulfilment of its promise to connect the people of the state to other parts of the country and the world by air.

He restated that the inauguration of the aircraft was a moment of deep gratitude and celebration for every Bayelsan as it marked a decisive step in strengthening the state’s aviation capacity and expanding its economic horizons.

“Six years ago, we promised the people of Bayelsa a future of air connectivity and opportunity. Today, that promise takes wing: Bayelsa is launching its own commercial air services.

“On behalf of your Government of Renewed Hope for Assured Prosperity, I am delighted to commission the first of two ATR?72/600 aircraft, each configured to carry 72 passengers and crew.

“This achievement marks the beginning of a new era of connectivity for Bayelsa, bringing regular and reliable air services that fuel modern commerce and development, connecting businesses to new markets, and empowering our people to thrive”, he said.

He explained that he has directed that the aircraft registered under the name Pioneer Airline be immediately changed to Air Bayelsa or Bayelsa Air before commencing commercial operations as it is state-owned and not a private concern.

The State’s helmsman added that the story of the aviation sector in the state would not be complete without acknowledging the pioneering role of his predecessors, particularly the late Chief Diepreye Alamieyeseigha, who conceptualised an airport at the current location, and the immediate past Governor Seriake Dickson, who actualised the airport project.

He also expressed appreciation to Premium Trust Bank, Pioneer Airline, and the State House of Assembly for their support.

In his welcome remarks, Managing Director of Bayelsa Airport Limited, Air Vice?Marshal Nelson Calmday (rtd), said the airline will not only operate the Lagos and Abuja routes daily but also other Niger Delta states.

Also, Managing Director of Pioneer Airlines, Captain Henry Ungbuku, said the company will embody the dreams and aspirations of the people of the state and Niger Delta in its operations.

He thanked Governor Diri for believing in him and the airline and for entrusting it with the responsibility of operating the state-owned aircraft, assuring that they will not let Bayelsa down.

Managing Director/ CEO of Premium Trust Bank, Mr. Emmanuel Emefienim, said it was a remarkable achievement that speaks to vision and strategic partnership between the government and the bank, expressing his joy that the bank played a strategic role in the acquisition of the aircraft.

Similarly, Senator Konbowei Benson, who spoke on behalf of the Bayelsa National Assembly Caucus, hailed the governor’s vision and pledged their support for the developmental efforts of the state government.

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, equally lauded Governor Diri and urged the state government to sustain the airline’s flight operations by ensuring that government officials pay for flying the aircraft.

The NDDC MD, Ogbuku, in his remarks, described the acquisition of an aircraft by the state government as a welcome development, noting that it will connect the people of the state to other parts of the country, and pledged the willingness of the commission to partner the airline to contribute to its success.

The PANDEF National, Igali, said people of the region were proud of Diri’s achievements and pledged the continuous support of the forum to enable the government attain new heights.

By Ariwera Ibibo-Howells, Yenagoa

Niger Delta

Traditional Ruler Seeks End To Benin Artifacts Unauthorized Promotion

Published

1 week ago

November 24, 2025

The Tide

A member of the Benin Traditional Council (BTC), Chief Osaro Idah (the Obazelu of Benin Kingdom), has urged the Federal High Court to restrain the Museum of West African Contemporary Culture and Arts (MOWAA) from dealing with Benin artifacts without the consent of the Oba of Benin.

Idah prayed the court in a suit seeking five reliefs.

According to a notice issued by the court, hearing in the suit has been fixed for November 27 during which the court is expected to hear the motion for interlocutory injunction filed by the claimant.

The suit, marked: FHC/B/CS/107/2025, was filed before the Benin Division of the Federal High Court by Chief Idah, through his lawyer, Kelvin Mejuku of the firm of Prof. Yemi Akinseye-George (SAN) & Partners.

According to court documents, the claimant is contending, among others, that the Oba of Benin, being the sole custodian of the culture, tradition and heritage of the Benin Kingdom, is the only rightful person to determine where the returned looted artifacts and other items of Benin heritage should be kept.

Listed as defendants in the suit are Museum of West African Arts LTD/GTD and the National Commission for Museums and Monuments (NCMM).

The claimant wants the court to declare that by virtue of the Federal Government’s notice contained in Order No. 1 of 2023 titled: “Notice of Presidential Declaration on the Recognition of Ownership, and an Order Vesting Custody and Management of Repatriated Looted Benin Artifacts in the Oba of Benin Kingdom”, dated March 23, 2023, the Oba of Benin is the custodian, of the culture, tradition and heritage of the Benin Kingdom and people.

He equally wants a declaration that by virtue of the said Federal Government’s notice contained in Order No.1 of 2023, the operators of the Museum of West African Contemporary Culture and Arts, located in Benin City require the consent of the Oba of Benin, the sole custodian of Benin culture and arts, to hold Benin artifacts amongst other collections in the museum.

Chief Idah is also urging the court to declare that the defendants cannot surreptitiously identify with and or deploy or use the name, title and or the throne of the Oba of Benin, without the consent of the Oba, to solicit for endorsements, funds and or support within and outside Nigeria for prosecution of their purported interests in Benin artifacts and objects for the purposes of establishing or maintaining a museum in Benin City.

The claimant equally wants the court to issue an order of perpetual injunction restraining the defendants, their servants, privies or agents, from establishing, opening and operating any museum in Benin City, Edo, dealing with Benin artefacts without the consent of the Oba of Benin.

Idah stated, in a supporting affidavit, that the Benin artifacts are the cultural heritage of the Benin Kingdom created by its ancestors and forefathers within the traditional norms and rites of the kingdom.

“They are not property of any private corporate entity that is not a creation of the Benin Kingdom.

“The people of Benin kingdom and other stakeholders, especially Benin Dialogue Group, had at different meetings endorsed the Benin Royal Museum to be built within the palace, as well as endorsing the Oba Ewuare II Foundation for fund raising and other requisite administration processes.

“It was based on the above that the Oba of Benin prevailed on the Federal Government to take custody of these artifacts on behalf of the palace until the Benin Royal Museum was ready for their collection”, he said.

He further stated that by virtue of the said Federal Government’s notice contained in Order No. 1 of 2023, the Oba of Benin became recognised as the sole owner, with the sole responsibility to have the custody and management of Benin artifacts.

He added that the gazette issued by the Federal Government pursuant to the 2023 order did not contemplate a situation in which any of the repatriated Benin artifacts will be diverted or hijacked from the custody of the Oba of Benin and be kept in the custody of a privately operated museum or as part of the collection of any private organisation, museum like the MOWAA and NGO-operated museum.

The claimant states that the government of Edo State in 2024 restored the full statutory right of the Oba of Benin as the custodian of the culture, tradition and heritage of the Benin Kingdom and people and his ownership and title of the stolen/looted artefacts and other art works.

“Regrettably, some of the artifacts have now found their way in a private museum named Museum of West African Contemporary Culture and Arts (MOWAA) located in Benin City, operated by the first defendant, without the consent of the Oba of Benin.

“This action of the first defendant is very provocative, confrontational and calculated to undermine the lawful authority of our monarch.

“The exclusive authority and right of the Oba has been confirmed by a legal instrument known as Notice of Presidential Declaration which is an Order Vesting Custody and Management of Repatriated Looted Benin Artefacts in the Oba of Benin Kingdom.

“The establishment in Benin City of a private or public private museum, the so called Museum of West African Culture and Arts (MOWAA) by the defendant in collaboration with the second defendant without reference to the sovereign authority of our Oba over Benin culture and arts is not only a violation of the customary law of Benin Kingdom, but spiteful of the authority of the revered palace.

“The maverick move by the first defendant in promoting the MOWAA to operate in Benin City under the nose of the Oba, but without the consent of the palace is causing serious unease, public unrest and provocation threatening the peace of the Benin Kingdom.

“This development is in conflict with the pronouncement of the Government of Edo State restoring full statutory rights to His Royal Majesty, Oba Ewuare II, over the Artefacts of the Benin Kingdom”, he said.