General News
Boko Haram Aside, Nigeria is Becoming Major Global Economy
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Nigeria has been getting a lot of bad press lately, owing largely to the militant Islamist group Boko Haram’s abduction of more than 200 schoolgirls in April, part of a brutal campaign of kidnappings, bombings and murder, according to The Daily Star.
But, while these developments certainly merit international concern, they should not be allowed to obscure Nigeria’s recent achievements – or spur the outside world to turn its back on the country.
According to The Daily Star, what is lost in most discussions about Nigeria today is the strong economic record that the country has established over the last decade.
In fact, a recent yearlong study by the McKinsey Global Institute showed that, over the next 15 years, Nigeria has the potential to become a major global economy.
With roughly 170 million inhabitants, Nigeria has Africa’s largest population. But it has only recently been acknowledged as having the continent’s largest economy – 26th in the world – following the release of “rebased” data putting GDP at $510 billion last year.
MGI estimates that from 2013 until 2030, Nigeria could expand its economy by more than 6 percent annually, with its GDP exceeding $1.6 trillion – moving it into the global top 20. Moreover, if Nigeria’s leaders work to ensure that growth is inclusive, an estimated 30 million people could escape poverty.
The problem is that Nigeria remains subject to outdated assumptions, which are limiting its prospects, especially among foreign companies and investors.
For example, many believe that Nigeria is a petro-economy, wholly at the mercy of the world oil market.
But the resources sector accounts for only 14 percent of GDP – meaning that, while oil production remains a critical source of revenue and exports, the Nigerian economy is far more diverse than many assume.
A related myth is that Nigeria’s economic growth is unstable, with large and unpredictable shifts in performance from year to year.
In fact, as Nigeria has diversified its economy and detached public-spending plans from current oil prices (part of a 2004 budget reform), it has become increasingly stable, both economically and fiscally. Indeed, in recent years (2010-13, in “rebased” terms), GDP has grown by a steady 6-7 percent, owing more to rising productivity than to favorable demographics.
Finally, there is a general misunderstanding about the Nigerian economy’s evolution. Despite widespread poverty and low (though improving) productivity in almost all industries outside of the resources sector, Nigeria has a rapidly growing consumer class that will play an increasingly important role in driving growth.
By 2030, more than 34 million households, with about 160 million people, are likely to be earning more than $7,500 annually, making them aspiring consumers.
This implies a potential rise in consumption from $388 billion annually to $1.4 trillion – a prospect that is already attracting investments by multinational consumer-goods producers and retailers.
Nigeria’s prospects are enhanced further by its strategic location, which will enable it to take advantage of booming demand across Africa and other parts of the developing world. Add to that a large and growing population and an entrepreneurial spirit, and the future looks bright.
In order to unleash this potential and ensure that the next decade of growth brings sharp reductions in poverty, Nigeria’s leaders must pursue reforms aimed at increasing productivity, raising incomes and delivering essential services such as health care and education more efficiently.
For example, to increase productivity and incomes in the agricultural sector, the government could pursue land-title reform aimed at opening more farmland without deforestation; expand the use of fertilizer and mechanized equipment; and support a shift to more profitable crops.
Moreover, improvements in distribution and marketing would allow farmers to keep more of the proceeds from the sale of their crops.
In urban areas, productivity suffers from a high degree of informal employment, sometimes even by major corporations. This keeps too many Nigerians in low-skill, low-paying jobs and deprives the economy of the dynamism that competitive small- and medium-size enterprises create.
The spate of Internet startups that have emerged in Nigeria demonstrates that the skills are there, and tapping Nigeria’s diaspora can augment that talent pool.
To make it easier to do business in Nigeria, the government also will need to streamline processes for registering and running a legal business and, together with aid agencies and the private sector, increase investment in infrastructure. It will also need to intensify its fight against endemic corruption, which represents a tax on all businesses.
Finally, to promote inclusive growth – essential to relieving human suffering and mitigating social and political tensions – Nigeria must improve public-service delivery dramatically.
The fact that Nigeria lags behind countries that spend comparable amounts on public services proves that it has the scope to improve.
All that is needed to ensure that assistance – from seed subsidies to immunization – reaches those who need it most, regardless of where they live in the country, is a strong commitment from Nigeria’s leaders to build more effective and transparent government agencies.
Nigerians do not need sympathy or even outrage from the global community. What they need is support and encouragement. Only with stable and inclusive growth can Nigeria escape the clutches of brutal forces such as Boko Haram and give its citizens the security and prosperity that they deserve.
Paul Collier is a professor of economics and public policy at the Blavatnik School of Government, Oxford University, where he is also professorial fellow of St. Antony’s College and co-director of the Center for the Study of African Economies. Acha Leke is Director of McKinsey in Africa.
General News
Trump Ends Funding for Malaria, Other Global Health Programs
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The Trump administration has ceased funding for roughly 5,800 global health programs, including those that support providing vaccines, life-saving medications, and emergency health care to millions of people around the world.
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Donald Trump
On Wednesday, the U.S. State Department began sending out a wave of emails informing thousands of health groups, refugee camps, tuberculosis clinics, and polio vaccination projects that they would no longer receive funding from the U.S. Agency for International Development (USAID), per the New York Times.
The funding was distributed to a wide range of programs, including those for HIV treatment, malaria prevention in Africa, and maternal health care in Nepal.
More major projects now canceled due to the funding cut include: a $90 million malaria prevention contract, a project in the Democratic Republic of Congo that provided water for 250,000 displaced people living in conflict zones, HIV care and treatment in Lesotho, Tanzania, and Eswatini run by Elizabeth Glaser Pediatric AIDS Foundation, a $34 million medical supply management contract in Kenya, 87 shelters in South Africa that support thousands of women who have survived rape and domestic violence, a Yemen community health program in Yemen that identified malnourished children, and a severe acute malnutrition treatment project in Nigeria that serves millions of children and women.
“People will die, but we will never know, because even the programs to count the dead are cut,” Dr. Catherine Kyobutungi, executive director of the African Population and Health Research Center, said in a statement.
General News
NAFDAC Withdraws Registration of Artemether/Lumefantrine Oral Suspension over Stability Concerns
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National Agency for Food and Drug Administration and Control (NAFDAC) has announced the discontinuation of the registration of Multi-Dose Anti-Malarial (Artemether/Lumefantrine) dry powder for oral suspension.
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Professor Mojisola Adeyeye, director-general, NAFDAC,
The decision follows stability concerns, as studies have shown that the reconstituted formulations lose efficacy over time.
The announcement was made in a public alert No. 01/2025, released on the agency’s website.
NAFDAC confirmed that the suspension applies to all locally manufactured and imported Multi-Dose Artemether/Lumefantrine dry powder for oral use.
Consequently, the agency will no longer accept new applications, renewals, or variations for any local or imported Multi-Dose Artemether/Lumefantrine dry powder for oral suspension.
According to NAFDAC, stability studies revealed that reconstituted Artemether/Lumefantrine oral suspension becomes unstable after mixing, leading to a loss of efficacy.
“This loss can have severe health consequences, including treatment failure, increased risk of complications, and, in extreme cases, death,” the agency stated.
All NAFDAC zonal directors and state coordinators have been instructed to conduct surveillance and remove all affected products from circulation.
The agency has also directed importers, distributors, retailers, healthcare professionals, and caregivers to immediately halt the importation, distribution, sale, and use of these medications.
NAFDAC has urged healthcare professionals and consumers to report any suspected sale of these products or related substandard medicines to the nearest NAFDAC office or via the agency’s toll-free number: 0800-162-3322. Reports can also be submitted via email at [email protected].
Additionally, individuals are encouraged to report adverse reactions through the Med-Safety mobile app, available on Android and iOS, or via email at [email protected].
NAFDAC confirmed that this notification would be uploaded to the World Health Organization (WHO) Global Surveillance and Monitoring System (GSMS) as part of its regulatory measures.
General News
NITDA Empowers Civil Servants with IT Project Clearance Training
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In line with the presidential priority areas of reforming the economy for sustained inclusive growth and improving governance for effective service delivery, the National Information Technology Development Agency (NITDA) has commenced a training programme for 1000 civil servants from various MDAs on Information Technology (IT) Project Clearance processes in creating a digitally viable workforce in the public sector towards achieving the desired digital transformation mandate of the present administration.
The opening of the capacity building programme for ICT, Budget, Finance and Planning Officers of Federal Public Institutions, held at the Public Service Institute of Nigeria (PSIN) in Kubwa, Abuja, will be conducted in batches to equip participants with essential knowledge, skills, and best practices.
It aims to enhance collaborative planning, budgeting, and management of ICT system acquisition, deployment, operation, and sustainability in the public sector, ensuring a whole-of-government approach to digital projects.
In his opening remark with the theme, “Empowering Public Sector ICT Excellence Through Strategic Planning and Effective Funding”, the DG NITDA, Kashifu Inuwa CCIE, emphasised the critical role of strategic planning and funding in enhancing public sector service delivery.
While reiterating the agency’s commitment to digital transformation through the implementation of its Strategic Roadmap and Action Plan (SRAP) 2.0, the DG who was ably represented by the agency’s Director of IT Infrastructure Solutions department, Mr Oladejo Olawunmi, underscored the importance of equipping public sector employees with the necessary tools and knowledge to drive digital initiatives effectively.
Disclosing that NITDA is spearheading digital transformation efforts through its SRAP 2.0, he stated, “This plan aligns with national priorities and aligns with our strategic pillars such as talent development, digital infrastructure, cybersecurity, innovation, and policy-enablement to foster a sustainable digital economy”.
However, Inuwa acknowledged the challenges hindering digital transformation in the public sector, including inadequate collaboration among stakeholders, short-term project planning, poor ICT infrastructure maintenance, software licensing issues, and insufficient capacity-building. These barriers, he noted, have contributed to suboptimal outcomes in government-led digital initiatives.
Noting that most project stagnations or failures are attributed to inadequate integration of modern trends such as cloud computing, remote support, and enterprise network services into project planning, Inuwa averred that the agency has strengthened its IT projects clearance process to ensure that digital initiatives are well-conceptualized, planned, and executed in alignment with intended objectives.
“While there have been notable achievements, only 12 percent of Federal Public Institutions, FPIs comply with the process, necessitating a whole-of-government approach for full alignment with national digital transformation goals,” he revealed.
Emphasising that effective resource allocation ensures initiatives are adequately funded and properly executed to deliver real value to the public, he urged participants to manage public funds prudently and prioritise projects that yield measurable outcomes.
“We will explore how to optimize budgeting processes, improve financial oversight, and build systems that ensure transparency and accountability.
“This event has been structured with your professional development in mind, with sessions led by experts in the field, interactive discussions, and practical case studies that will provide you with actionable knowledge you can apply in your respective roles,” he concluded.
Highlighting the critical role of ICT, project, finance, and planning officers, Inuwa admonished participants to take full advantage of the program’s sessions, designed to strengthen their expertise in strategic planning, monitoring, evaluation, and financial management.
“Each of you plays a crucial role in the management and distribution of resources, the planning and implementation of programmes, and ultimately the delivery of services to our communities. Together, you form the backbone of efficient and transparent governance,” he concluded
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