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Developing countries need $2.7 trillion yearly investment to meet SDGs

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Low–medium income countries will need between $640 billion and $2.7 trillion investment yearly to meet development goals by 2030, according to the World Bank.

The bank in a statement explained that rising debt levels is a concern as many emerging and developing economies have borrowed heavily while reductions of public debt before the global financial crisis have eroded.

It disclosed that emerging and developing economy debt increased by an average of 15 percentage points to 51 per cent of gross domestic product (GDP) last year.

The bank, however, argued that debt accumulation can be justified because of the need for growth-enhancing projects, such as investments in infrastructure, health and education.

It said: “The needs are massive: World Bank analysis finds that low- and middle-income countries will need in the range of $640 billion to $2.7 trillion in investment a year to meet development goals by 2030.

In addition, prudent government spending can help a country ride out an economic downturn. But excessive debt carries serious risks. Even in an environment of low interest rates, debt can accumulate to unsustainable levels.”

It maintained that government spending large amounts to service debt is allocating less on other important activities.

The bank cautioned that high debt may force governments to raise taxes to rein in deficits, chilling business and consumer spending while in extreme cases, elevated debt can lead to defaults and bailouts.

On how much debt can be said to be too much, the bank said every government needed to strike the right balance. “Those with sound balance sheets may find that borrowing to boost growth is appropriate. Economies in shakier fiscal shape may need to be more cautious and find ways to enhance revenues first,” it stated.

It advised that those that borrow would benefit from better debt management and greater debt transparency. Debt should be contracted with a view to maintaining stability and preserving resilience.

“It is urgent that countries make significant structural reforms that improve the business climate and attract investment. They also need to make debt management and transparency a high priority so that new debt adds to growth and investment,” it advised.

However, the global bank urged countries to make significant structural reforms that will improve the business climate and attract investment. It also advised on the need to make debt management and transparency a high priority so that new debt adds to growth and investment.

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Emulate Christ’s virtues, Glo urges Christians at Easter

Reporter: Sandra Ani

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Glo and Globacom
Globacom

Digital solutions provider, Globacom, has congratulated Christians in Nigeria on this year’s Easter celebration, and urged them to emulate the noble qualities of Jesus Christ.  

The company, in a goodwill message to the Christian faithful in the country, lauded their perseverance through the Lenten period which preceded Easter. It enjoined them to always promote the ideals of selflessness, love and peace among all as a way of demonstrating the virtues of the exemplary life of Jesus Christ. 

“Peace, love and sacrifice are the central message of Easter. Christ offered himself in atonement for the sins of the world and he lived a life which made Him an eternal symbol of peace and goodwill for mankind”, Globacom added. 

The company enjoined all Nigerians to share in the lessons of promoting selflessness, a necessary ingredient in the growth and development of every society. It also enjoined all Nigerians to join hands to make Nigeria a better place for all. 

Easter is celebrated yearly at the end of the Lenten season of fasting and prayer considered as a ritual of purification for the Christian faithful. It also precedes the crucifixion of the Lord Jesus Christ on Good Friday and His eventual resurrection on Easter Sunday.

The company assured its customers of seamless voice, data and Short Messaging Service (SMS) during and after the Easter celebrations, while urging them to avail themselves of the various data and voice offerings on the network.

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NUJ at 70: Private Broadcast Members Congratulate Union

Reporter: Ikenna Oluka

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NUJ at 70
NUJ

The Guild of Private Broadcast Managers  has extended its heartfelt congratulations to the Nigeria Union of Journalists (NUJ) as it celebrates its 70th Anniversary.

In a congratulatory message signed by the Guild’s National President, Ambassador Patrick Uzoyi-Peters, JP MNGRM, the guild described the milestone as a testament to the NUJ’s unwavering commitment to upholding press freedom, journalistic integrity, and the advancement of democracy in Nigeria.

“For seven decades, the NUJ has played a pivotal role in shaping the media landscape, advocating for the rights and welfare of journalists, and ensuring that the voice of the people remains strong and unyielding. Your resilience, professionalism, and dedication to ethical journalism have been instrumental in fostering transparency, accountability, and national development”.

Celebrating this historic achievement, the Guild’s President, Uzoyi-Peters recognized the sacrifices and contributions of journalists across the nation who work tirelessly to inform, educate, and empower society.

The Guild reiterated it commitment towards collaborating with the NUJ in promoting responsible journalism and strengthening the media industry for the greater good.

While wishing the NUJ continued success, growth, and greater impact in the years ahead, President Uzoyi-Peters prayed that the anniversary serve as a renewed call to uphold the principles of truth, fairness, and press freedom in our collective pursuit of a more informed and just society.

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Family Marks one-year Memorial of Late APC Chieftain, Ojougboh with Charity Outreach

By Ikenna Oluka

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Mrs. Bose Ojougboh
Mrs. Bose Ojougboh, wife of the Late Dr. Cairo Ojougboh (Centre) flanked by other members of Dr. Cairo Ojougboh Foundation during the outreach programme.

The family of the late chieftain of the All Progressives Congress (APC), Chief Dr. Cairo Ojougboh, led by his wife, Mrs. Bose Ojougboh, marked his one-year memorial anniversary with a series of charitable initiatives aimed at honoring his legacy of philanthropy and service to society.

The memorial activities included the donation of school books and bags to pupils of Erigbe Primary School, in Agbor within the Ika South Local Government Area (LGA) of Delta State, where Dr. Ojougboh had received his early education.

The outreach also included extension of financial assistance to patients at Central Hospital, Agbor, and the provision of toiletries, cash, and food items to children at the Salve Regina Children’s Home, Agbor.

The outreach was carried out under the ‘Dr. Cairo Ojougboh Foundation’, a family-led initiative established to immortalise him and continue his lifelong commitment to education, healthcare, and social welfare.

Speaking during the event which took place recently, Mrs. Ojougboh reaffirmed the family’s dedication to sustaining the ideals of the late APC chieftain, describing him as a man who strongly believed in education and giving back to society.

“We are here to celebrate the life of my husband, Late Dr. Cairo Ojougboh, who passed on a year ago. In his honour, we decided to give back to society. He was a man who valued education and was always willing to help others. It is only fitting that we continue his legacy through acts of generosity,” she stated.

Honouring his passion for education

The first visit was to Erigbe Primary School, where Dr. Ojougboh had received his early education. The Foundation distributed school bags, writing materials, and food packs to the pupils. The family encouraged the pupils to take their education seriously and strive to become responsible citizens.

Supporting patients at Central Hospital, Agbor

At Central Hospital, Agbor, Mrs. Ojougboh and her entourage moved through the medical wards, offering financial support to patients to assist with their treatment costs. The hospital staff and beneficiaries responded with prayers and words of gratitude for the kind gesture.

Reaching out to orphaned children

The outreach team also visited Salve Regina Children’s Home in Agbor where they donated cash, food items, and toiletries to the children.

Mrs. Bose Ojougboh -
members of Dr. Cairo Ojougboh Foundation during the outreach programme.

The Matron of the home expressed her deep appreciation to the Ojougboh family, commending their commitment to sustaining the late politician’s legacy of compassion and social impact.

Dr. Cairo Ojougboh’s enduring legacy

Reflecting on her late husband’s contributions to society, Mrs. Ojougboh emphasised that his legacy of generosity and service to humanity would not be forgotten.

“Dr. Cairo was a selfless man who touched many lives. His contributions to the Nigerian political landscape, his mark in Agbor Kingdom, Delta State, and the country at large, will always be remembered. He may be gone, but his impact will continue to be felt for generations,” she said.

The Dr. Cairo Ojougboh Foundation has pledged to continue supporting education, healthcare, and social welfare initiatives in his memory, ensuring that his vision for a better society lives on.

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