G-24 warns Middle East war and global crises undermine economic growth, urges multilateral support
via Punch Nigeria4 min read
The G-24, a coalition of developing countries, has expressed significant concern over multiple global political crises and conflicts, particularly highlighting the escalating war in the Middle East. The group warns that this conflict is worsening global economic fragility and undermining growth prospects, especially for emerging markets and developing countries like Nigeria. The G-24 noted that the war is causing deterioration in the well-being of affected populations and damaging civilian infrastructure, taking a substantial toll on an already weak global economy. They project a decline in global growth by 2026 relative to 2025, with sustained disruptions potentially increasing inflation through higher energy, food, and fertilizer prices. The group emphasized the importance of safeguarding international maritime routes and called for an end to attacks on energy infrastructure. Amid an uncertain medium-term global growth outlook, the G-24 stressed the need for stronger multilateral support and increased development assistance, as traditional policy responses may be insufficient. They called for a stronger Global Financial Safety Net anchored by a well-resourced International Monetary Fund, urging timely completion of quota reviews to enhance the voice of developing economies. The G-24 also pressed the IMF to adapt its lending toolkit and review key frameworks. Regarding development financing, the group urged the World Bank Group to maximize its balance sheet to boost lending
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Nyesom Wike, the Minister of the Federal Capital Territory, stated that he relies on his wife's prayers for continued support from President Bola Tinubu, highlighting its importance for ministers to fulfill their mandates. Speaking at the inauguration of the Water Supply Network to Bwari Satellite Town, Wike mentioned that his administration has officially commissioned 50 projects and plans to commission 10 more before January. He stressed that presidential backing is crucial for performance, drawing from his experience as a former governor and minister. Wike revealed he asks his wife to pray for the President's continued support for the FCT Administration, acknowledging the support received has enabled positive changes. He added that governance aims to improve citizens' lives, a goal he believes the Tinubu administration is working towards.
Must ReadThe National Drug Law Enforcement Agency NDLEA of Nigeria and its Egyptian counterpart are preparing to sign a Memorandum of Understanding MoU to enhance cooperation in fighting substance abuse and illicit drug trafficking. This agreement aims to strengthen intelligence sharing, joint operations, and training between the two nations. NDLEA Chairman/Chief Executive Officer, Brig. Gen. Mohamed Buba Marwa retd., announced this during a visit from the Egyptian Ambassador to Nigeria, Mohammed Fouad, at the agency's headquarters in Abuja. Marwa emphasized the global nature of the drug problem and the need for international collaboration, citing existing partnerships with various international law enforcement agencies. He noted that drug cartels are seeking alternative routes in Africa due to pressure elsewhere and highlighted NDLEA's success in dismantling drug manufacturing operations, including methamphetamine labs run by Mexican cartels in Nigeria. Ambassador Fouad underscored the importance of stronger bilateral cooperation between Egypt and Nigeria, as prominent African countries, to address narcotics trafficking from a continental perspective. The proposed MoU is expected to bolster intelligence gathering, capacity building, and coordinated enforcement actions to curb the illicit drug trade across Africa.
A coroner's court in the United Kingdom has ruled that Beatrice Solomon, a 27-year-old Nigerian woman, died by suicide. Ms. Solomon, who moved to the UK in November 2023 on a skilled worker visa, was found unresponsive in her Stanfield home. Her husband, Damian Butler, discovered her upon returning home from work. Emergency responders pronounced her dead at the scene. Police investigators ruled out any third-party involvement. During the inquest, Mr. Butler stated that his wife had struggled with her mental health for the past year, attributing it to issues with Stoke-on-Trent City Council. He also revealed that Ms. Solomon had made two previous attempts to take her own life. A post-mortem examination determined the cause of death as oxygen deprivation. Coroner Li Hammond-Naylor concluded that Ms. Solomon died by suicide, noting that she had researched and planned the act. Ms. Solomon, a caregiver, is survived by her husband, a son, and her siblings.