NEWS
Poverty Tightening Noose on Nigeria, Africa – W’Bank
The estimated per capita income growth of 0.7 percent for Nigeria and the rest of Sub-Saharan Africa in 2022 is insufficient to meet the challenging goals of poverty reduction and shared prosperity in the medium to long term, but authorities are not meeting it.
This is contained in the World Bank Group’s report titled “Africa’s Pulse: An analysis of issues shaping Africa’s economic future”.
In the report, the Washington-based bank made it clear that poverty reduction trends, which the pandemic impacted negatively, had slowed further.
The report has it that the pandemic led to a lasting impact on long-term growth, with consequences on poorest of the poor, tending to stimulate extreme poverty.
The weak rebound of the Nigerian economy in the aftermath of the pandemic along with the setback from rising inflation, the report pointed out, was insufficient to reverse pandemic-induced job and income losses.
It stated, “Rising inflation is weighing on economic activity in Sub-Sahara. The upward trend in inflation following the post-pandemic period was exacerbated by the war in Ukraine, soaring to record highs in many countries.
“The escalation of the war has fueled a rise in commodity prices, particularly food and energy prices. High pass-through of food and fuel prices to consumer prices has caused headline inflation to spike.”
In addition, it noted that rising inflation was weighing on economic activities in Nigeria, and that the upward trend in inflation following the post-pandemic period was exacerbated by the war in Ukraine.
“The escalation of the war has fueled a rise in commodity prices, particularly food and energy prices. High pass-through of food and fuel prices to consumer prices has caused headline inflation to spike.
The fiscal space to mount effective responses today is gone because of high levels of debt across Sub-Saharan African countries, rising borrowing costs, and depleted public savings,” it added.
This follows an earlier report issued by the World Bank titled “A Better Future for All Nigerians: Nigeria Poverty Assessment 2022,” in which it noted that deep structural reforms guided by evidence were urgently needed if millions of Nigerians were to be lifted out of poverty.
It identified sluggish growth, low human capital, labour market weaknesses, and exposure to shocks as some of the factors chaining down Nigeria’s poverty reduction efforts.
The report has it that up to 40 percent of the Nigerian population were living below the national poverty line.
Recall that in its recent review of Nigeria’s poverty map, the National Bureau of Statistics (NBS) averred that 63 percent of the populace, an estimated 133 million people were multidimensionally poor.
This figure is at variance with an earlier projection by the World Bank, which placed 95 million Nigerians under the poverty line.
In a shocking incident on Sunday morning, unknown gunmen suspected to be kidnappers invaded the home of Alhaji Auwal, a prominent businessman, in Garo Town, Kabo Local Government Area of Kano State.
The gunmen, estimated to be around 10 in number, forced their way into the residence, breaking down a door to gain entry.
An anonymous source revealed that the attackers were heavily armed, with three carrying firearms and the rest wielding other weapons.
READ MORE: Tinubu Urges Stakeholders To Join Forces To Restart Oil Production In Ogoniland
They quickly gathered the entire family in one room, instilling fear and panic in the household.
According to the source, Alhaji Auwal pleaded with the assailants to spare his family and agreed to meet their demands.
The kidnappers, who were determined to extort money, received ₦8 million from the family.
Despite this payment, the gunmen took the businessman’s eldest daughter, Zainab, a secondary school graduate, before fleeing the scene.
The whereabouts of Zainab remain unknown, and as of now, the kidnappers have not contacted the family.
This abduction comes just 48 hours after the tragic kidnapping and subsequent murder of former Gombe State Permanent Secretary, Atiku Mu’azu, who was killed by gunmen after a ₦10 million ransom was paid.
The two incidents have left the residents of Kano in shock and fear, prompting calls for increased security measures in the area.
Attempts to reach the spokesperson for the Kano Police Command, SP Abdullahi Haruna, for comment were unsuccessful as his phone remained unreachable.
Authorities have yet to make any official statements regarding the investigation.
In a bold move, Colombian President Gustavo Petro declared on Sunday that he would not allow US deportation flights carrying Colombian migrants to access his country’s airspace.
The left-wing leader took to X (formerly Twitter) to express his strong stance, stating, “The United States cannot treat Colombian migrants as criminals. I forbid entry to our territory to US planes carrying Colombian migrants.”
Petro made it clear that such flights would only be accepted once Washington established a protocol to ensure the “dignified treatment” of deported migrants.
READ MORE: How Trump Plans To Grow American Economy By $1 Trillion Daily
The president later confirmed in a separate post that he had already turned back US military planes that were en route with Colombian migrants on board, although he did not provide further specifics on the matter.
While AFP sought confirmation from US authorities regarding the blockade of deportation flights, no immediate response was forthcoming.
Petro’s statements come just a day after Brazil’s government voiced similar outrage over the treatment of deported Brazilians.
Brazil condemned the US administration under President Donald Trump, citing instances where Brazilian migrants were deported while handcuffed on flights, describing it as a “flagrant disregard” for their basic rights.
In his remarks, Petro emphasized that he would be open to allowing civilian US flights to transport deported migrants as long as they were not subjected to treatment “like criminals,” signaling a broader call for humane treatment of migrants under international deportation policies.
An explosion at a mining site in Sabon Pegi, Mashegun Local Government Area of Niger State, claimed the lives of four individuals and left several others injured on Sunday morning.
The blast occurred as miners resumed operations, sending shockwaves through the community.
While the exact cause of the explosion remains undetermined, local residents have pointed to the poor handling of explosive devices by mining companies as a possible factor.
READ MORE: Thisday Awards: Diana Ross Arrives In Nigeria
The incident has sparked concerns about safety practices within the mining sector.
Community sources confirmed the recovery of four bodies, but authorities fear the death toll could rise.
Investigations are ongoing to establish the cause of the blast and assess the full extent of the damage.
One resident, Aminu, described the chaos that followed the explosion. “The sound was so loud that many of us thought it came from the hydroelectricity dam nearby. People panicked and ran into the bush for safety,” he recounted.
Another community member highlighted the potential role of mining operations in the tragedy.
“Mining companies here frequently use explosives during their activities, and this seems like an operational issue, not something related to terrorism,” the resident said, dismissing concerns about a security threat in the area.
As of the time of reporting, neither the state government nor security agencies have released an official statement regarding the explosion.
2Baba Disowns Divorce Announcement, Says Account Was Hacked
Shock As 2Baba Announces Separation From Wife, Annie Idibia
AC Milan Pull Off Thrilling Injury-Time Comeback To Beat Parma 3-2
Kano Businessman’s Daughter Kidnapped After ₦8m Ransom Payment
Colombia Blocks US Deportation Flights Over Migrant Treatment
Buhari Calls For Transparency Ahead Of Katsina LG Elections
OSSG Raises Alarm Over Murder Plot By APC Chieftain
NCC, SMEDAN, NAICOM, SEC, Others Set for SUPERNEWS SMEs Conf June 13
Sahara’s Tonye Cole resigns from GPHCDA
Niger Delta Avengers: President Buhari Reads riot Act …considers the carrot and stick option
Oando opens ultra-modern petrol station in Lagos
