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Revealed! Ethiopia Is Now Africa’s Fastest Growing Economy

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Ethiopia Is Now Africa’s Fastest Growing Economy

CNN) — Ethiopia, Africa’s second most populated country, is forecast to be the fastest growing economy in Sub-Saharan Africa this year, according to new data from the IMF.
Ethiopia’s economy is predicted to grow by 8.5% this year.
The figures signal continued economic expansion following a long period of impressive growth. In the last decade, Ethiopia has averaged around 10% economic growth, according to the IMF.

To boost the economy, the country is pursuing a number of large-scale infrastructure projects, including the Grand Renaissance Dam and a railway network.
“(Ethiopia) has had a very high growth rate and I think that’s a result in large part of a very concentrated effort by the government to boost industrial production and manufacturing,” said Vijaya Ramachandran, an economist at the American think tank Center for Global Development (CGD).
Ramachandran, along with three academics, released a report suggesting Ethiopia can follow in China’s footsteps, and become a destination for low-wage manufacturing jobs.

However, despite sustained economic growth, in the past few years Ethiopia has experienced increasing unrest from Oromo groups in the Oromiya region. According to human rights groups, the government has suppressed basic rights and freedoms.

New Prime Minister Abiye Ahmed was sworn at the beginning of April, signaling an intent to ease tensions.

Economic Growth.
Ivory Coast is expected to be the second fastest growing economy in the region at 7.4%. Rwanda’s estimated economic growth is 7.2%, and the West African country Senegal is projected to have 7% growth.

The data reveals that Ghana, which was previously forecast as the fastest growing economy in Sub-Saharan Africa in October 2017, at 8.9%, slowed in its predicted growth to 6.4%. Last year, a reported surge in oil and gas production helped propel the country’s economy. Related Article:44 African countries agree free trade agreement, Nigeria yet to sign
Nigeria, Africa’s largest economy, is predicted to grow by 2.1%, an increase from 1.9% forecast in October 2017.

“They’ve updated it to 2.1%. However, they have emphasized the risks. The falling commodity prices and imbalances that are to arise because of the elections,” Bismarck Rewane, a Nigerian economist, told CNN.

Related Article: Tanzanian govt demands $930 fee from bloggers in internet clampdown
South Africa’s predicted growth stands at 1.5%.
Long term, according to a report from the World Bank in 2016, the proportion of the African population in extreme poverty has declined, but the overall number has increased as the continent’s population expands.

Growth across the whole region is forecast to average 3.4%, below the total world growth figure of 3.9%.

www.cnn.com/2018/01/24/africa-largest-economy/index.html

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Where To Be On Xmas Day : “King Saheed Osupa Headlines Exclusive White Agbada Party This Christmas

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Where To Be On Xmas Day : “King Saheed Osupa Headlines Exclusive White Agbada Party This Christmas

Lagos is gearing up for an unforgettable evening of elegance and celebration as the Friends of Osupa announce the Exclusive White Agbada Party – Xmas Edition, a premium event that promises to be the highlight of this festive season.

The event, scheduled for Wednesday, December 25, 2024, will take place at the prestigious Oriental Hotel Banquet Hall, starting at 6 PM. Known for its luxurious ambiance and world-class service, the venue sets the tone for what will undoubtedly be a night of sophistication and cultural pride.

This year’s edition, aptly themed around the timeless white agbada, invites attendees to celebrate Nigeria’s rich cultural heritage while embracing the spirit of Christmas. Guests are encouraged to adorn their finest white agbada, a traditional yet regal attire that embodies style, dignity, and tradition.

A Premium Experience Awaits
The event offers two exclusive table packages, catering to discerning attendees seeking a first-class experience:

1. Platinum Table: ₦2,000,000
2. Gold Table: ₦1,000,000

Both packages ensure reserved seating, premium service, and an enhanced festive experience, making it an ideal occasion for corporate gatherings, family celebrations, or simply a night out with friends.

The Exclusive White Agbada Party is more than just an event; it’s a celebration of culture, community, and connection. Attendees can expect a night of top-tier entertainment, surprise performances, and an opportunity to network with prominent figures and fans of iconic Fuji artist King Saheed Osupa, whose influence continues to inspire generations.

The event will also serve as a platform for fostering camaraderie among attendees, highlighting the importance of unity and cultural pride during the festive season.

Event Details :
Date: Wednesday, 25th December 2024
Time: 6 PM
Venue: Oriental Hotel Banquet Hall, Lagos
Dress Code: All-white agbada

For reservations and inquiries, contact 09088315246. Early bookings are encouraged as spaces are limited.

The event is powered by Lahmad Concepts Ltd, a name synonymous with excellence and professionalism in event management. With a proven track record of curating top-notch events, Lahmad Concepts is committed to delivering a seamless and memorable experience for all attendees.

This Christmas, elevate your celebrations by attending the Exclusive White Agbada Party. It’s not just an event—it’s an experience that will leave a lasting impression.

#WhiteAgbadaParty
#FriendsOfOsupa
#XmasEdition
#LagosEvents

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Man Arrested For Allegedly Defiling, Impregnating 14-Year-Old Girl

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Man Arrested For Allegedly Defiling, Impregnating 14-Year-Old Girl

Man Arrested For Allegedly Defiling, Impregnating 14-Year-Old Girl

 

A 28-Year-Old Man Identified As Samuel Ani has been arrested by men of the Ogun State Police Command for allegedly defiling and impregnating a 14-year-old girl (name withheld) in Sagamu area of the state.

Ani was caught having canal knowledge with the victim at about 2 pm on Wednesday.

Confirming his arrest on Friday, the police spokesperson in the state, Omolola Odutola, said the incident was reported to the command by the father of the child.

She stated that the suspect, who was also suspected to have impregnated the minor, on interrogation, confessed to the crime.

Odutola said, “The father, known only as Paul, had approached the division to report the crime suspect committed against his daughter.

“The suspect allegedly defiled the minor and is also accused of impregnating her. The 28-year-old suspect had been arrested and detained by the command.

“The matter will be transferred to the State Criminal Investigation Department once the preliminary investigation is completed.

Odutola disclosed that the child had been immediately taken to the hospital for medical examination.

“In the meantime, the survivor has been taken to a hospital for medical examination,” she added.

 

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Tears as Lagbaja buried in Abuja

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Tears as Lagbaja buried in Abuja

Tears as Lagbaja buried in Abuja

 

Emotions ran high as the Chief of Army Staff, Lt. Gen. Taoreed Lagbaja, was laid to rest at the National Military Cemetery in Abuja, on Friday.

The ceremony brought together family, colleagues, and dignitaries to bid a final farewell to the late army chief.

The grief-stricken family members and colleagues struggled to contain their tears.

Even the nose mask worn by his widow, Mariya, couldn’t conceal the steady stream of tears that dropped from her eyes.

 

The procession began at precisely 3:00 p.m. when Lagbaja’s remains arrived at the cemetery.

President Bola Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Chief of Defence Staff, Gen. Christopher Musa, Minister of Defence, Mohammed Badaru, and the Inspector General of Police, Kayode Egbetokun, each took turns laying wreaths at the grave.

Speaking at the event, the Chief of Defence Staff, Musa, assured Nigerians that Lagbaja’s death would inspire the military to defeat the nation’s enemies wherever they may be.

 

Musa stated that the military took solace in the fact that the late army chief lived a purposeful life, urging the troops to honour his memory by committing themselves to the ideals he stood for.

Musa said, “We will not leave you alone. We know your loss is immeasurable, but please take solace in knowing that he lived a life of purpose and left behind a legacy that will never fade. To my fellow officers and men, let us use this moment to recommit ourselves to the ideas for which General Labaja stood for.

“Let us ensure that his sacrifice and service continue to guide our steps as we defend this great nation. We are going to use his passing away to resolve further to defeat all enemies of the state, wherever they are, whether within or outside. As we lower him today into the embrace of the earth, let us raise our voices in prayer and gratitude for a life well lived. “

Reflecting on Lagbaja’s tenure, Musa noted that he took bold and decisive actions against terrorists, bandits, and other threats.

He said, “His tenure was marked by decisive actions against insurgency, banditry, and other threats to our nation’s peace. His efforts significantly enhanced the operational readiness and the morale of the Nigerian Army. But beyond his professional achievement, General Labaja was a man of profound faith, kindness, and humility.

 

“His commitment to safeguarding our nation’s sovereignty and ensuring the security of our citizens was unwavering. From his early days as a young officer to his ascension to the esteemed office of the Chief of Army Staff, General Lagbaja consistently demonstrated a rare blend of intellect, bravery, and humanity. He understood the complexities of modern warfare and the need for innovation in our strategies.

“Yet, he never lost sight of the human element, the men and women who serve under the flag and the citizens whose freedom they defend.

 

In his remarks, the Minister of Defence, Muhammed Badaru, said Lagbaja embodied the core values of soldiering and served Nigeria without reservation for over 30 years.

Badaru said the late army chief was not only courageous but also an inspiring leader who lived from the front, exemplifying his tedious dedication to the service of the nation.

At the event, Tinubu conferred a posthumous national honour, Commander of the Federal Republic, on Lagbaja.

Tinubu said the conferment was to appreciate Lagbaja’s service to the nation.

The President described Lagbaja as one of his best appointees.

He said, “Lagabaja was a true soldier, a general and officer who symbolised the best of his profession and whose commitment to the nation he loved was singular and undiluted.

“He was more than I could have hoped for. He was one of my best appointments. Lieutenant General Lagbaja embodied the finest ideas of a patriot and a soldier. He had an abiding faith in the capability and readiness of our armed forces to save and keep us”.

Tinubu described Lagbaja as a trusted advisor, adding that he was a man of prudent action who cared about the nation and the men who served under him.

“He displayed uncommon valor in the charge of his duty and the administration of the rank and file for he cared about their welfare and that of their families.

“For me, he was a trusted advisor whose formidable intellect and breadth of knowledge served this nation well,” he added.

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