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.

Niger Delta

Make God Your Anchor To Fulfill Destiny, Cleric Charges Christians … As Jaja Marks 70th Birthday

Published

22 hours ago

December 5, 2025

The Tide

The Lead Pastor at Jesus Appointed People’s Bible Church, Ozogbe, Ikwerrengwo-Etche, in Etche Local Government Area of Rivers State, Pastor Promise Nwaelele, has urged Christians to make God the anchor of their lives in whatever position they find themselves, in order to attain the destinies set for them by God.

Pastor Nwaelele, who gave the charge recently in a sermon he preached at the 70th birthday anniversary thanksgiving service of Sir Donald Michael Jaja, a veteran journalist in Rivers State, said this is because any genuine child of God is a permanent target for destabilization and destruction by the devil.

Taking his text from the Bible book of Mark 4:16-17, the preacher stated that fulfilment in life for a child of God required faith, obedience to God’s word, humility and grace to withstand trials and temptations.

According to him, temptations and afflictions are bound to happen in the lives of those who have accepted Jesus Christ as their Lord and Savior.

“No wonder the Bible said that those that endure till the end shall be saved”, he said.

The Clergyman said God prospers believers who are humble, not proud and conceited, and leads them to destiny fulfilment.

“David said in Psalm 51:17, that the sacrifices acceptable to God are a broken spirit, not an impatient or proud spirit”, the preacher said.

He called on Christians not to allow persecutions and afflictions to sway them from the love and blessings of Jesus Christ.

On his part, Jaja, a seasoned Journalist who retired as an Acting Editor of the Rivers State Government-owned The Tide Newspaper, gave thanks to God for honouring him by giving him the grace of attaining 70 years.

“I cannot capture what the good Lord has done for me in my entire life in this fleeting moment of thanksgiving. But, I know that without Him, I wouldn’t have been who I am today, in all spheres. Therefore, my joy knows no bounds as I give thanks to my creator today, alongside my family. Praise be His holy name”, Jaja said.

Niger Delta

Remember Me As Fighter Against Sexual Harassment – UNICAL VC

Published

23 hours ago

December 5, 2025

The Tide

The outgoing Vice-Chancellor of the University of Calabar (UniCal), Prof. Florence Obi, has said she will want to be remembered for fighting sexual harassment and delayed results.

Obi made the remark recently at an event in Calabar, organised by the university to mark the end of her five-year tenure as the 11th substantive Vice Chancellor of the institution.

It would be recalled that Obi, whose tenure expired on November 30, was appointed Vice Chancellor on September 10, 2020, but officially assumed office on December 1, 2020.

She said her commitment to protecting students, especially the female ones, remained one of her greatest achievements as Vice Chancellor.

She said, “I fought against sexual predators and ensured timely release of students’ results to curb frustration within the institution.”

While expressing fulfilment at completing her tenure and thanking God for enabling her finish strong after five years in office, she said she would return to the classroom because teaching remained her passion.

Earlier, she addressed staff and students outside her office during a carnival-like, marching out parade in her honour, thanking them for their support throughout her administration.

She also encouraged them to support her successor to enable him to succeed and take the university to greater heights.

“This institution has recorded significant growth and I am confident that my successor will advance the progress already made”, she said.

The Tide’s source reports that under her leadership, the largest solar power plant in Cross River State was built in UniCal, ensuring stable electricity for the university and its teaching hospital.

Other achievements included upgrading the Faculty of Education to a College, getting Mass Communication accredited and elevated to a Faculty.

Her administration also constructed new hostels, introduced departmental scholarships, built a fire service station, and completed the Law Faculty complex.

Niger Delta

Oborevwori Presents N1.664tn 2026 Appropriations Bill

Published

1 day ago

December 5, 2025

The Tide

Delta State Governor, Sheriff Oboreveori, on Wednesday, presented the 2026 Appropriation Bill of N1.664 trillion to the State House of Assembly.

Presenting the bill during plenary of the Assembly in Asaba, Oborevwori said, “I wish to announce a budget proposal of N1.664 trillion for the services of Delta State Government in 2026.”

He said the amount comprised the sum of N499 billion, representing 30 per cent of total budget for Recurrent Expenditure, and N1.165 trillion representing 70 per cent of total budget for Capital Expenditure.

The Governor added that the 2026 budget size indicated an increase of N685 billion, or 70 per cent over the 2025 Appropriation.

He also said sources of funds for the 2026 budget as proposed would be mainly from statutory allocation, internally generated revenue, mineral derivation, and Value Added, Tax among others.

Giving breakdown of the budget proposal, he said the state was earmarking N450 billion for road projects across the state in the 2026 fiscal year.

He said, ”A well-developed road infrastructure is a catalyst for economic growth.

”It facilitates easy movement of goods and services, reduces transportation costs, attracts investment, and improves access to markets and thereby boosting socio-economic development and generating employment opportunities.

”Agriculture is key to economic diversification and sustainable development.

”We shall continue to devote considerable attention and resources to fast-track developments in the agricultural sector towards enhancing food security in Delta State.

”This will also enable economic diversification, promote self-reliance, and generate employment opportunities.”

The Tide’s source reports that the sum of 10 billion has been earmarked for the Ministry of Agriculture and Natural Resources in the 2026 Budget.

Oborevwori, who is the immediate past Speaker of the Assembly, commended the House for its partnership and urged members to expedite consideration and passage of the budget to sustain ongoing development momentum.

He reaffirmed his administration’s commitment to building “a prosperous, secure, and stronger Delta where no one is left behind.”

In his remarks, the Speaker of the State House of Assembly, Mr. Dennis Guwor, commended Oborevwori’s administration for the steady strides recorded under the “Renewed Hope for MORE Agenda”.

”Over the past year, we have witnessed sustained investments in critical infrastructure, impactful social interventions, prudent fiscal management of resources, and strategic initiatives aimed at promoting peace, security, and economic stability across the State”, he said.

Guwor also commended the Governor for approving the Consolidated Legislative Salary Structure (CONLESS) and initiating the construction of permanent offices for the Assembly Service Commission.

He assured the Governor of the Assembly’s resolve to undertake a thorough and timely review of the appropriation bill, stressing that the Legislature remains committed to people-centered governance, accountability, and equitable development.

“Your Excellency, I want to assure you that the entire Members of this 8th Assembly are united behind your vision for the transformation of the State.

”While our roles in government are distinct and protected by the Constitution, our objectives remain aligned; delivering the greatest good to the greatest number of the people of the state”, he stated.