Nigeria News
Economists verdict: Africa’s boom not denting poverty
JOHANNESBURG (AFP) – Fast-paced African countries may have growth rates that are the envy of developed economies, but the continent’s boom has failed in recent years to significantly dent poverty levels, economists say.
Sub-Saharan Africa is set to grow by 5.6 percent this year, according to latest figures from the International Monetary Fund (IMF), with 18 countries hitting at least six percent.
“Sub-Saharan Africa is expected to continue growing at a strong pace during 2013-14, with both resource-rich and lower-income economies benefiting from robust domestic demand,” the IMF said in its latest World Economic Outlook.
According to the World Bank, foreign direct investment inflows rose 5.5 percent in the region last year, against a plunge of 6.6 percent in developing countries worldwide.
The investment-to-GDP ratio is the lowest among developing regions, which the bank likens to pre-boom levels in 1960s China and 1980s India “suggesting increased scope for further expansion in productivity-enhancing investment”.
Africa’s oil and mining wealth means that these sectors dominate the overall flows, but investment has also risen in services such as water, construction, and electricity projects.
States with growing middle classes — such as Nigeria, South Africa, Ghana and Kenya — are also drawing investment to consumer areas such as retail and banking.
Consumer spending makes up more than 60 percent of Africa’s GDP, a sector recently highlighted by McKinsey & Company who found urban Africans spent more on clothing and food than those in Brazil, China and India on average.
Telecommunications, banking and retail are flourishing, construction is booming and private investment inflows surging.
But the continent’s poor are still not riding the wave.
“More than a decade of strong economic growth has reduced poverty in sub-Saharan Africa – but not by enough,” said the World Bank last week.
Growth has been less poverty-reducing than elsewhere in the world; and despite the faster growth in resource-rich countries, levels of poverty are falling at a slower rate , it said.
While strides have been made in reducing the levels of Africans living on less $ 1.25 a day, more than a third of the world’s extreme poor still live in sub-Saharan Africa
And it is still the only region in the world where the number of poor people rose “steadily and dramatically” between 1981 and 2010, according to a recent bank note on poverty.
“The poverty rate is not going down at the same rate that the growth rate is going up,” said Soren Ambrose, economist of anti-poverty group ActionAid in Nairobi.
“The mining companies were given attractive deals: those companies come in and do their business and as a result the growth rates are up.”
But, he added: “Not much remains, the amount that is left in the country is not so much.”
This year, only two regional economies, Swaziland and oil-rich Equatorial Guinea, are set to shrink. Powerhouse South Africa is struggling to take off, with only 2.8 percent growth forecast.
Next year however, the IMF predicts growth of 6.1 percent in the region, largely thanks to the revival of South Africa.
In its latest Africa analysis, the World Bank says high commodity prices and domestic spending will ensure the region stays among the world’s fastest growing.
But more has to be done to unleash the potential of the continent’s opportunities, it argues.
“Higher economic growth does not automatically translate into higher poverty reduction,” states the report.
——————————————————————————————————————————————-
Posted in Nigeria News. A DisNaija.Com network.
Source: PM News
DisNaija.Com publishes regular posts on Nigeria News, Nigerian Newspapers, Online Nigeria Gist.
Follow us on Twitter and Facebook.
Your Opinion Counts. Be sure To Leave A Comment, If You Have Any.
Please Like, Share or Tweet. Your Support Is Appreciated.
Nigeria News
Kano Transfers Over 1,000 Almajiris To Different States Amidst COVID-19 Pandemic
The Kano State Government on Saturday said it has transferred 1,098 ‘almajiris’ to different states of the country.
The commissioner for local government, Murtala Garo, disclosed this while presenting a report before the state’s task force on COVID-19 at the government house, Kano.
Almajiris are children who are supposed to be learning Islamic studies while living with their Islamic teachers. Majority of them, however, end up begging on the streets of Northern Nigeria. They constitute a large number of Nigeria’s over 10 million out-of-school children.
Mr Garo said the Kano government transported 419 almajiris to Katsina, 524 to Jigawa and 155 to Kaduna. He said all of them tested negative for coronavirus before leaving the Kano State.
Despite the coronavirus test done in Kano for the almajiris, the Jigawa government earlier said it would quarantine for two weeks all the almajiris that recently arrived from Kano.
Mr Garo said another 100 almajiris scheduled to be taken to Bauchi State also tested negative to COVID-19.
In a remark, Governor Abdullahi Ganduje said the COVID-19 situation in Kano was getting worse. He appealed for a collaborative effort to curtail the spread of the virus in the state.
Mr Ganduje, who commended residents for complying with the lockdown imposed in the state, said the decision was taken to halt the spread of the virus.
Kano State, as of Saturday night, has 77 coronavirus cases, according to the Nigeria Centre for Disease Control.
The decision to transfer the Kano almajiris is part of the agreement reached between Northern governors that almajiris in each state be transferred to their states of origin.
However, even before the latest agreement by the governors, the Kano government had been transferring almajiris to other states and neighbouring countries after it banned street begging in the state, most populous in Northern Nigeria.
Despite the transfers, however, no concrete step has been taken to ensure such children do not return to Kano streets as there is freedom of movement across Nigeria although interstate travel was recently banned to check the spread of the coronavirus.
Sourced From: Premium Times Nigeria
Nigeria News
COVID-19: ‘Bakassi Boys’ Foil Attempt To Smuggle 24 Women Into Abia In Container
By Ugochukwu Alaribe
Operatives of the Abia State Vigilante Service, AVS, popularly known as ‘Bakassi Boys’ have arrested 24 market women hidden in a container truck, at Ekwereazu Ngwa, the boundary community between Abia and Akwa Ibom states.
The market women, said to be from Akwa Ibom State, were on their way to Aba, when they were arrested with the truck driver and two of his conductors for violating the lockdown order by the state government.
Driver of the truck, Moses Asuquo, claimed he was going to Aba to purchase stock fish, but decided to assist the market women, because they were stranded.
A vigilante source told Sunday Vanguard that the vehicle was impounded while the market women were sent back to Akwa Ibom State.
Commissioner for Home Land Security, Prince Dan Okoli, who confirmed the incident, said that smuggling of people into the state poses great threat to the state government’s efforts to contain the spread of COVID- 19.
Sourced From: Vanguard News
Nigeria News
Woman Kills Her Maid Over Salary Request
Operatives of the State Criminal Investigation and Intelligence Department (SCIID), Yaba of the Lagos State police command have arrested one Mrs Nene Steve for allegedly killing her maid, Joy Adole
The maid was allegedly beaten to death by Nene for requesting for her salary at their residence located at 18, Ogundola Street, Bariga area in Lagos.
Narrating the incident, Philips Ejeh, an elder brother to the deceased said that he was sad when they informed him that his sister was beaten to death.
He explained that the deceased was an indigene of Benue State brought to Lagos through an agent and started working with her as a maid in January 2020.
‘’She reported that her boss refused to pay her and anytime she asked for her salary she will start beating her.
She was making an attempt to leave the place but due to the total lockdown she remained there until Sunday when her boss said she caught her stealing noodles and this led to her serious beating and death,’’ Ejeh said.
He called on Lagos State Government and well- meaning people in the country to help them in getting justice for the victim.
The police spokesman, Bala Elkana, stated that the woman and her husband came to Bariga Police Station to a report that their house girl had committed suicide.
Detectives were said to have visited the house and suspected foul play with the position of the rope and bruises all over the body which confirmed that the girl had been tortured to death and the boss decided to hang up the girl to make it look like suicide.
He said: “The police moved on with their investigation and found a lot of sign of violence on her body that she has been tortured before a rope was put on her neck.’’
He added that the police removed the corpse and deposited it in the mortuary for autopsy to further ascertain the cause of the death.
Elkana said the matter has been transferred from Bariga police station to Panti for further investigation while the couple have been arrested and will be charged to court.
Tribune
Boko Haram Attacks: Buhari Summons Urgent Meeting Of Service Chiefs
Ostensibly alarmed by the latest killings of dozens of soldiers by Boko Haram insurgents, President Muhammadu Buhari has summoned an urgent meeting of Service Chiefs to find ways to stop the trend.
He has also dispatched the Minister of Defence, Mansur Dan Ali, to the neighbouring Republic of Chad for an urgent meeting with President Idris Deby and his defence counterpart.
Knowledgeable sources said in Abuja on Friday that the president is worried by on the deterioration of security situation on the Nigeria – Chad Border that has led to the recently increased Boko Haram terrorism in the area.
The sources which did not want to be named in Abuja said: “Nigeria has a Chad problem in the Multi-National Joint Task Force (MNJTF) put together to secure the Lake Chad basin areas and repeal the Boko Haram terrorist attacks against all the countries neighbouring the Lake.”
The sources noted that Chad is believed to be having their own internal security challenges and this has reportedly led to their pulling away their own troops manning their own border around Lake Chad, saying: “That lacuna is being exploited by the Boko Haram terrorists, who go in and out of Nigeria, Niger and Cameroon to launch terrorist acts. This is a clear illustration of the fact that terrorism is beyond national borders.”
When contacted, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, confirmed that the Defence Minister is going to Chad but said he is unaware of the purpose.
Meanwhile, the military authorities are said to be in the process of identifying the families of the latest victims with a view to making contact with them.
Credible sources revealed that it is the reason the president is yet to make any pronouncement on the matter.
“The President has called an urgent meeting with the Service Chiefs, as well as the fact that families of the latest victims of the Boko Haram are being identified and contacts made before a government pronouncement on the tragic attacks. This, it is understood, is the reason for the silence of the government over the incident,” the source said.
Sourced From: Tribune