The report that the International Monetary Fund has predicted that Nigeria’s economy will reach $1.85tn by 2029, in Purchasing Power Parity terms is one of the trending stories in Nigerian newspapers on Friday.
The Punch reports that the International Monetary Fund has predicted that Nigeria’s economy will reach $1.85tn by 2029, in Purchasing Power Parity terms.
This forecast suggests a significant growth trajectory for the country’s economy over the next five years.
According to the IMF data obtained by PUNCH Online, Nigeria’s Gross Domestic Product in PPP terms has been steadily increasing, from $1.36tn in 2023 to $1.852tn in 2029.
GDP is the most commonly used single measure of a country’s overall economic activity. PPP is a theory that relates changes in exchange rates to changes in price levels between countries, allowing for more accurate international comparisons of economic data.
The data shows a consistent growth trend, with a notable increase of 5.5 per cent expected in 2029.
The Fund also predicted Nigeria’s share of global GDP based on PPP to reach 0.78 per cent by 2029.
This represents a slight increase from 0.77 per cent in 2023, indicating a steady growth trajectory for the country’s economy.
The newspaper says that the United Nations Office for the Coordination of Humanitarian Affairs has said that humanitarian partners will need $4.7bn to assist 20.9 million vulnerable people in parts of Nigeria, Chad, and five other African countries.
This was disclosed in its 2024 Humanitarian Needs and Requirement Overview report published on its website on Thursday.
The Sahel is a region of Africa separating the Sahara Desert to the north and tropical savannas to the south and covers Nigeria, Burkina Faso, Cameroon, Chad, Mali, Mauritania, Niger, and Senegal.
The OCHA urged the international community to give generously to ensure the region’s humanitarian response plans can be implemented fully by the end of the year.
According to the UN agency, the lives of 32.8 million people across the Sahel are affected by a complex and interlinked web of crises, which are exacerbated by instability, a deteriorating security situation, and the effects of climate change.
The statement added that the development was leaving them in need of humanitarian assistance and protection services.
It noted that across the Sahel, growing violence and conflict threaten lives and livelihoods, forcing families to flee their homes and preventing access to basic social services.
According to the UN agency, the lives of 32.8 million people across the Sahel are affected by a complex and interlinked web of crises, which are exacerbated by instability, a deteriorating security situation, and the effects of climate change.
The statement added that the development was leaving them in need of humanitarian assistance and protection services.
The Vanguard newspaper reports that disturbed by the continued cases of banditry, terrorism and general insecurity in some parts of the country, especially the northwest and north-central geo-political zones, the Nigerian Senate yesterday asked President Bola Tinubu to ensure a review of the modus operandi of the nation’s security agencies.
It also urged the President to direct a thorough review and evaluation of the strategies employed by security agencies and consider deployment of additional security personnel/special task force to the identified hotspots in both regions to ensure the protection of lives and property.
The Upper chamber equally asked the relevant security agencies to collaborate with state governments, local communities, traditional leaders, and stakeholders to gather intelligence and enhance security operations in the affected areas.
It further urged the President to direct the establishment of a task force to evaluate the effectiveness and implications of negotiating with bandits, conducting a thorough analysis of the short-term gains versus the long-term consequences of such actions.
Resolutions of the Senate were sequel to a motion sponsored by Senator Sani Zangon Daura, APC Katsina North, and co- sponsored by thirteen others.
Presenting the motion, Senator Daura explained that Katsina, Sokoto, Zamfara, Kaduna, Kano, Jigawa and Kebbi States had been plagued by escalating banditry attacks, resulting in loss of lives, kidnapping for ransom, displacement of communities and disruption of socio-economic activities.
Daura, who noted that governments of the affected states had allocated significant funds to augment the operations of the security agencles in combating banditry and restoring peace in the region, recalled the collaboration and coordination among the state governments, security agencies and relevant stakeholders, to develop holistic and sustainable solutions to the challenges posed by banditry in the north west geopolitical zone.
He urged the Senate to take cognisance of the fact that governors of the states in the affected region had affirmed their commitment to support an acceptable and workable initiative that would promote peace, security and development in the region.
He expressed concerns that the incessant banditry attacks on communities in the north west would significantly impact food production and agricultural activities, and jeopardise food security and livelihoods of the people in affected states of the region, especially in the present raining season.
The newspaper says that there is no gain in saying that Benue State is currently the hub of Internally Displaced Persons (IDPs) in Nigeria.
With about 17 or more IDPs camps housing over 1.5 million IDPs, including those sheltering in the host communities, the state is no doubt facing a herculean task catering to the needs of these persons of concern.
The IDPs were forced out of their ancestral homes following repeated attacks and siege by armed herdsmen who are bent on defying the extant grazing law in the state.
From Guma to Agatu, Gwer West, Kwande, Makurdi, Logo, Apa, Okpokwu, Bururku, Otukpo and other local government areas, LGAs, it’s all tales of woes as the rural Benue farmers who are known for their prowess in food production have vacated their ancestral homes and taken refuge in IDPs camps.
Though the present administration has pledged to have them relocated back home, but while that move is still being awaited, the IDPs remain confined in these camps, living on the support they receive from the state government, kind-hearted individuals and organisations.
Given the dire condition in the camps the IDPs are faced with the challenges of inadequate food and drugs supply, including insufficient sleeping spaces and other challenges that make life unbearable for them.
But in the mist of these challenges one notable issue is the high rate of new child births being recorded in some of the camps.
Findings indicated that while the IDPs live in dire conditions amid insufficient sleeping space, they still make out space to make babies.
GIK/APA