The UN Department of Economic and Social Affairs (UN DESA) has said that the global economy stands at a fragile turning point amid escalating trade tensions and growing policy uncertainties.UN DESA, in a report published on Thursday, stated that tariff-driven price pressures were adding to inflation risks, leaving trade-dependent economies particularly vulnerable.

It stated that higher tariffs and shifting trade policies were threatening to disrupt global supply chains, raise production costs, and delay key investment decisions – all of this weakening the prospects for global growth. The economic slowdown is widespread, affecting both developed and developing economies around the world, according to the report.For instance, in the United States, growth is projected to slow “significantly”, as higher tariffs and policy uncertainty are expected to weigh on private investment and consumer spending.Several major developing economies, including Brazil and Mexico, are also experiencing downward revisions in their growth forecasts.China’s economy is expected to grow by 4.6 per cent this year, down from 5.0 per cent in 2024. This slowdown reflects a weakening in consumer confidence, disruptions in export-driven manufacturing, and ongoing challenges in the Chinese property sector.By early 2025, inflation had exceeded pre-pandemic averages in two-thirds of countries worldwide, with more than 20 developing economies experiencing double-digit inflation rates.This comes despite global headline inflation easing between 2023 and 2024.Food inflation remained especially high in Africa, and in South and Western Asia, averaging above six per cent. This continues to hit low-income households hardest.Rising trade barriers and climate-related shocks are further driving up inflation, highlighting the urgent need for coordinated policies to stabilise prices and protect the most vulnerable populations.“The tariff shock risks hitting vulnerable developing countries hard,” Li Junhua, UN Under-Secretary-General for Economic and Social Affairs, said in a statement.As central banks try to balance the need to control inflation with efforts to support weakening economies, many governments – particularly in developing countries – have limited fiscal space. This makes it more difficult for them to respond effectively to the economic slowdown.For many developing countries, this challenging economic outlook threatens efforts to create jobs, reduce poverty, and tackle inequality, the report underlines. (NAN)

The Nigerian National Petroleum Corporation (NNPC) Foundation has renewed its commitment to ensuring food security in the country.

Mrs Emmanuella Arukwe, Managing Director, NNPC Foundation, said this on Wednesday in her remarks during the training of vulnerable farmers in Akwa Ibom.

Arukwe said that 6, 000 farmers across the country would be trained on modern farming methods and market access strategies to boost food production in the country.

Arukwe, who was represented by Dr Bala David, Executive Director, Programme Development and Coordinator, NNPC Foundation, added that the Foundation was dedicated to implementing impactful programmes that aligned with national priorities.

She said that more than 500 farmers in Akwa Ibom were trained by the NNPC Ltd Agricultural Training Initiative for Vulnerable Farmers on modern methods and strategies to boost food production.

Arukwe added that the farmers were drawn from the state’s 31 local government areas to participate in the training to equip them with techniques and market access strategies to add value to their businesses.

“This programme is a testament to our unwavering commitment to food security, economic empowerment and national development.

“As the corporate social responsibility arm of NNPC Ltd, the Foundation is dedicated to implementing impactful programmes that align with national priorities.

“This initiative is part of our broader efforts to support the Federal Government’s agricultural transformation agenda, which seeks to enhance food security, increase productivity, and improve the livelihoods of smallholder farmers.

“Our goal is to equip every participant with the tools, knowledge, and resources needed to transition from subsistence farming to commercial-scale production,” Arukwe said.

In her remarks, Dr Offiong Offor, Commissioner for Agriculture and Rural Development, Akwa Ibom, thanked NNPC for the initiative to equip farmers with knowledge on modern farming.

Offor, represented by Dr Atim Okoko, Permanent Secretary, Ministry of Agriculture and Rural Development, said that a nation that trained farmers was a nation that would not go hungry.

“I want to express the state government’s appreciation to NNPC for mounting this laudable programme.

“A nation that starts to train farmers, a nation that starts to look at farmers will never go hungry.

“In this season that our President Bola Tinubu has come up with his Renewed Hope Agenda, everything is to end hunger in Nigeria,” Offor said.

The commissioner added that the programme came to complement what the state government was doing to ensure food sufficiency.

Responding on behalf of farmers, Mr Bassey Inwang, State Chairman, All Farmers Association of Nigeria (AFAN) said farmers in the state were so grateful for the training.

Inwang said the training would boost food production in the state, as the farmers would apply the knowledge gained on their farms for increase in yields.

He said, “We want to tell you that we will not take this training for granted, we will apply it properly on our farms.” (NAN)

The Federal Government has commenced free six months training for 120 Plateau youths on poultry farming.

The training is through the National Youth Skills Acquisition Fund (NYESAF), under the Innovation, Development and Effectiveness in the Acquisition of Skills (IDEAS) Project.

Dr Daniel Jarafu, Chief Executive Officer (CEO) VetVille Nigeria Limited, one of federal government’s training service providers in charge of the training, said this on Saturday in Jos, at the flagoff  of the programme.

Jarafu, said the project was a deliberate effort by the federal government to empower youths with skills that would make them skillful, self sufficient, employers of labour and in turn, boost economic growth of the nation.

According to him, the six months training is  segmented  into  three  months theoretical and three months practical aspects .

He further explained that at the end of the programme the trainees would sit for the  National Skills Qualifications (NSQs) examination to earn a national certification which  would be equivalent to certification earned in  the formal education system.

Earlier, Prof. Arhyel Balami, the Guest of Honour, said the initiative by the federal government was highly laudable as it would lead to the empowerment of youths  with hands on agricultural skills that would make them productive with sustainable livelihoods.

Balami, urged the trainees to make the best use of the training by being diligent, showing up and paying rapt attention during the course of the training.

The News Agency of Nigeria (NAN) reports that  NYESAF is to train 75,000 youths nationwide, with the aim of enhancing job creation, entrepreneurship, and economic independence among young Nigerians.

NAN further reports that initiative underscores the government’s commitment to equipping youths with essential skills to drive economic growth and self-sufficiency