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ECA Advises African Countries On Rising Indebtedness

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The Economic Commission for Africa (ECA) has called on countries to explore reforms on the common debt relief framework to better address rising indebtedness in Africa.
The Executive Secretary, ECA, Mr Claver Gatete, in a statement presented this at a joint press briefing on the margins of the recently concluded 2024 High Level Political Forum (HLPF).
Gatete highlighted the challenges of accessing financing for the continent’s priorities, especially the concessional funds that are long term and cheaper.
He said the reform of global financing system was urgent, as it could mitigate access to critical resources needed for the implementation of the Sustainable Development Goals (SDGs).
The Tide’s source reports that the African Development Bank (AfDB) said that from 2010 to 2023, Africa’s debt increased by 192 per cent.
The AfDB data also showed that African countries paid 163 billion dollars annually with an external debt stock of 1.1 trillion dollars, the highest ever seen,
According to Gatete, this means that by paying the debt, countries would have very little room to implement the SDGs and the next 10-year programme of the African Union (AU).
Gatete highlighted the need for domestic resource mobilisation in Africa to tackle illicit financial flows and improve taxation.
He also emphasised the importance of developing capital markets to provide long-term resources as part of private sector engagement in Africa.
He said: “There are opportunities in restructured green, blue and sustainability linked bonds that can attract more investors to fund climate-related solutions.
“ECA is working with countries to strengthen domestic resource mobilisation through capital markets to improve self-financing and financial sustainability in Africa.”
He said it was crucial to increase fiscal space and address interrelated issues, including peace building and conflict prevention.
“Also the involvement of the youth in sustainable development processes to ensure long term progress, “ he said.
Ms Christina Duarte, Head of the United Nations Headquarters based Office of the Special Adviser on Africa (OSAA), SDG implementation said only 12 per cent of the 140 targets of the SDG have been delivered.
She said to understand the root causes of the financing challenges faced on the continent, the focus should be on sustainable financing and institutional strengthening in Africa to build resilience.
“So, long-term solutions such as tackling economic and financial flows to address Africa’s debt distress and deliver on the sustainable development goals is very critical,’’ she said.
The HLPF Africa Day aims at highlighting key issues stemming from the Africa Regional Forum on Sustainable Development (ARFSD) and other major consultations.
The joint briefing displays how the AU, the UN Office of OSAA and ECA work together to support African member states in implementing the SDGs and the AU’s Agenda 2063.
The HLPF pulls together member states from around the world to forge pathways to accelerate the implementation of the SDGs.

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Fubara Reaffirms Commitment To Peace, Unity And Development As Rivers State Marks 59TH Anniversary

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Governor of Rivers State, His Excellency, Sir Siminalayi Fubara, has reaffirmed the unwavering commitment of his administration to peace, unity, security, and inclusive development as Rivers State marks its 59th anniversary.

In a goodwill message issued on Wednesday to commemorate the anniversary, Governor Fubara stated that despite the challenges faced over the years, the people of Rivers State have continued to demonstrate resilience, strength, and an enduring spirit of unity that has sustained the state since its creation.

The Governor noted that the strong bond of brotherhood among the various ethnic nationalities of the state, including the Ijaw, Ikwerre, Ogoni, Etche, Ekpeye, Andoni, Kalabari, and others, remains one of Rivers State’s greatest strengths and a critical foundation for peace, stability, and progress.

He further observed that Rivers State has remained a major driver of Nigeria’s economy for decades, not only because of its abundant oil and gas resources, but also because of the exceptional contributions of its people across diverse sectors including academia, jurisprudence, business, entertainment, public service, and sports.

Governor Fubara assured the people that his administration will continue to prioritize policies and programmes that promote peace, protect lives and property, and expand development across all parts of the state. He emphasized that governance must be people centered and impactful, with equal attention given to every Local Government Area of the state.

The Governor also paid tribute to the elders and founding leaders of the state for preserving the spirit of unity and coexistence over the years, while urging the youths to remain hopeful, responsible, and actively committed to building a greater Rivers State through innovation, hard work, and patriotism.

He equally acknowledged the invaluable role of women in strengthening families, communities, and society, describing them as indispensable partners in the continued growth and stability of the state.

Governor Fubara called on all Rivers people to use the occasion of the anniversary as a moment of reflection and renewed commitment to peaceful coexistence, mutual respect, dialogue, and collective progress, stressing that the unity and future of Rivers State must always rise above personal interests and political differences.

Rivers State was created on May 27, 1967, when the administration of General Yakubu Gowon (Rtd.) created twelve states out of the former four regions of Nigeria, with Rivers State carved out of the defunct Eastern Region.

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APC Presidential Primary: Fubara Commends Process, As Tinubu Sweeps Poll In Rivers

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Rivers State Governor, Sir Siminalayi Fubara, has commended the leadership of the All Progressives Congress (APC) in Rivers State over the outcome of last Saturday’s presidential primary election that saw President Bola Ahmed Tinubu sweeping the poll with a total of 280,082 votes.

Fubara, who served as the State Collation Officer for the primary election, said that  while the APC had a total of 297,068 registered members, the number of those accredited  for the election was  280,082.

According to him, all those accredited for the election,  cast their ballot for Tinubu, leaving Stanley Osifo,  his only opponent, with no votes.

Fubara expressed delight at the peaceful and seamless process which he said was as a result of good planning by the party.

“I feel that this process has recorded one of the most organised outings of our great  party in  recent times. The only reason it came out this way has to do with good planning. In all, I want to say that I’m really impressed with the process.

“So, I can say here that having taken time to go through the figures diligently, I, Siminalayi Fubara, who is standing as the State Collation  Officer, hereby certify that the information contained in my own spreadsheet represents the true, correct and accurate record of the summary of results from the 23 LGAs of Rivers State,” he said.

The governor said that  while it was evident that President Tinubu defeated his opponent in the primary election in  the State, the report would be sent to the APC headquarters in Abuja where the results will be formally declared.

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Ogoni cleanup: Minister Calls For more support from private sector

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The Federal Government has called for increased private sector participation and donor funding to sustain ongoing gains in the Ogoni environmental restoration project under the Hydrocarbon Pollution Remediation Project.

Speaking at a conference on donor facilitation and diplomatic support for HYPREP in Abuja, yesterday,  the Minister of Environment, Balarabe Lawal, stressed that the Ogoni cleanup programme was designed as a long-term intervention requiring sustained funding, technical support, and international cooperation.

“The project is supposed to be a lifespan project. We must move towards achieving its main aim, which is environmental restoration and sustainable development,” he added.

Lawal acknowledged the contributions of the United Nations Environment Programme, describing its assessment as the scientific foundation of the ongoing remediation efforts in Ogoni land.

“We are all here because of that UNEP report. It provided the scientific foundation for what has become one of the world’s most ambitious environmental remediation programmes,” he said.

According to him, hundreds of hectares of hydrocarbon-polluted land have been remediated, while additional sites are currently undergoing cleanup operations.

“We have remediated hundreds of hectares of polluted land, and more sites are still being worked on. Water schemes have also been delivered to affected communities,” he stated.

He added that ecosystem restoration, livelihood support programmes, and healthcare projects were ongoing across affected communities.

“Body health facilities are being constructed, livelihood programmes are empowering thousands, and we are also restoring access to safe drinking water because the first victim of pollution is water,” he said.

The minister also disclosed that the Centre of Excellence for Environmental Restoration was nearing completion, describing it as a major milestone in the project.

“If you go there, you will see one of the biggest edifices being constructed under HYPREP. It will serve as a postgraduate and research institute for environmental remediation,” Lawal said.

Despite the progress, he warned that funding challenges remain a major threat to sustaining the project.

“While substantial progress has been made, the journey is not yet complete. The implementation of UNEP recommendations requires long-term commitment and sustained financial and technical support,” he said.

Lawal therefore, appealed to development partners, donor agencies, international financial institutions, foundations, and private sector players to scale up their support.

“We need your support—financial, technical, scientific, and strategic. No organisation or government can do it alone,” he said.

He further described the Ogoni cleanup as a global model for environmental recovery, climate resilience, and international cooperation.

“The restoration of Ogoni land is not merely a Nigerian undertaking; it is a global model. Its success will show what is possible when governments, communities, and partners work together,” he added.

Also speaking, the Chairman of the Board of Trustees of the Ogoni Trust Fund, Emmanuel Deeyah, said the conference was organised to attract financial, technical, and institutional support for the cleanup exercise.

“We are looking for resources, financial support, expertise, partnership, and collaboration. Government cannot do everything alone,” he said.

Deeyah said the agitation for environmental justice in Ogoni dated back to 1991 when residents drew global attention to the environmental degradation caused by oil exploration activities.

“We farm in Ogoni land and we also fish, but our waters were polluted and the land could no longer support farming activities,” he said.

He explained that the UNEP report recommended that oil companies should contribute $1bn every five years for 30 years to support the remediation programme.

“We have done 10 years now and we have not even received the full $1bn that was supposed to be contributed. The refineries and local operators have not contributed a dime,” he stated.

Last week,  the Hydrocarbon Pollution Remediation Project announced the closure of 30 contaminated sites in Ogoniland, Rivers State, while investigations have commenced on 18 high-risk polluted locations in residential communities.

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