The warning by Conflict Research Network, West Africa (CORN West Africa), yesterday, that terrorism could threaten the conduct of the general elections in the northeast, unless a proactive context-specific security plan is designed for the zone is one of the trending stories in Nigerian newspapers on Wednesday.The Guardian reports that the Conflict Research Network, West Africa (CORN West Africa), yesterday, warned Federal Government and security agencies that terrorism could threaten conduct of the general elections in the northeast, unless a proactive context-specific security plan is designed for the zone.

This was disclosed as part of recommendations at the Conflict CORN West Africa Research Colloquium webinar, themed, ‘Nigeria Decides 2023: Conducting Elections in Context of Political Violence and State Fragility’.

CORN West Africa is a knowledge platform and academic community for scholars based in institutions in West Africa, who are working in the field of peace, security and political violence, with a growing network of more than 150 members across 35 institutions in West Africa.

Dr. Babayo Sule of the Department of International Relations, Federal University of Kashere, Gombe State, and member, Conflict Research Network, West Africa, said improved security of life and property before elections in the northeast would encourage people to come out and vote.

Speaking on the topic, ‘Election Amid Terror: Terrorism and the 2023 Elections in Nigeria’s North East’, Sule said terrorism remained a major threat, arguing that polls may not hold in areas under the control of terror groups, except counter-terrorism campaign is stepped up to clear the way.

He said government must “significantly reduce the areas that are under the control and influence of Boko Haram before the elections. Extra security personnel should be deployed to ensure the safety of life, property, INEC officials, and electoral materials.”

He added: “On election day, in 2015, Boko Haram terrorists coordinated multiple attacks on polling units in Gombe, Bauchi, Yobe, Borno and Adamawa, killing election officials while destroying electoral materials.

Federal Government, however, reassured Nigerians that the elections would go on as planned.

Minister of Information and Culture, Lai Muhammed, gave the assurance as he debunked fears of cancellation over high rate of insecurity across the country.

The newspaper says that some 10 startups from Nigeria, Uganda, Egypt, Kenya, Morocco and Senegal are to benefit from new $2 million investments from Catalyst Fund. The investment will be channeled into accelerating Africa’s adaptation and resilience to climate change, especially in rural communities.

This is the inaugural cohort of the new $30 million venture capital fund of Catalyst Fund, anchored by financial sector development agency, FSD Africa, aimed at supporting early-stage founders to develop technology that will make Africa more resilient to the impacts of climate change.

Each of the 10 startups will be offered $100, 000 of equity investments as well as $100, 000 of hands-on venture-building support.

These companies will join Catalyst Fund’s existing portfolio of 61 startups across emerging markets and receive capital, bespoke and expert-led venture-building support, and direct connections with investors, corporate innovators and talent networks that can help them scale.

Catalyst Fund’s portfolio companies have raised over $640 million in follow-on funding to date, and currently serve more than 14 million individuals and MSMEs globally.

Managing Partner of Catalyst Fund, Maelis Carraro, said: “We are thrilled to have the opportunity to partner with 10 groundbreaking African startups working to build a more resilient and sustainable future. “Our goal is to back mission-driven founders that share our vision of a world where every individual has the tools and opportunities they need to thrive. From agtech to insurtech, waste management, disaster response, and carbon finance, these startups display finance, tech, and business model innovations that will help communities better adapt to climate impacts and grow their resilience.”

The Punch reports that the Lagos Chamber of Commerce and Industry has said that economic conditions across regional blocs show that a recession or a significant slowdown of growth in 2023 is likely owing to spiralling inflation, high energy cost, monetary policy tightening, and weakening consumer demand.

The President of LCCI, Michael Olawale-Cole, stated this during the chamber’s quarterly state of the economy press conference which held in Lagos on Tuesday.

According to him, given the numerous challenges confronting the Nigerian economy, the chamber’s prediction remains a hard landing, which in economic terms points towards a period of economic downturn.

Olawale-Cole said that with recent projections from the International Monetary Fund that one-third of the world economy would be in recession, Nigeria, though not on the list, might lead to a recession for millions of Nigerians “if we bring into focus the latest multidimensional poverty index.”

He said, “As we enter the year 2023, the global economy, beyond the mounting uncertainties, may continue to face a confluence of challenges. From persistently high inflation and aggressive global monetary policy tightening to the continued disruptions caused by the Russia-Ukraine war and the energy crisis, weak consumer demand, and political upheavals, our projected outlook remains a hard landing.

“With several shocks suffered by many economies over a more significant portion of 2022, various projections and analyses of economic conditions across regional blocs point to the likelihood of a recession or a significant slowdown of growth in 2023 due to spiralling inflation, high energy cost, monetary policy tightening, and weakening consumer demand. Global growth, though positive, slowed down by about 50 per cent between 2019 and 2022.”

Noting that Nigeria’s inflation statistics reached a 17-year high in November at 21.47 per cent, Olawale-Cole said that with the persisting war in Ukraine and high spending by the government on the forthcoming general elections and census, the chamber foresees a further rise in the inflation rate in the short term.”

The newspaper says that the Nigerian Upstream Petroleum Regulatory Commission has announced the commencement of its 2022 mini-bid round.

This is according to a press statement signed by NUPRC Chief Executive Officer, Gbenga Komolafe, on Tuesday, January 10, published on the agency’s site.

In the statement, Komolafe noted that the mini-bid round, which presented seven blocks on offer, was an opportunity to ignite new exploration and drilling activities in Nigeria’s deep waters.

The NUPRC is expected to manage the mini-bid round process in line with the provisions of the Petroleum Industry Act, the 2022 Petroleum Licensing Round Regulations, and other relevant laws.

Komolafe added that the mini-bid round was a market-driven programme that would follow a transparent and competitive procurement process designed to attract competent third-party investors from across the world.

According to the NUPRC, the seven blocks on offer are located within the Gulf of Guinea, offshore Nigeria at approximately 150km South-East of Lagos Port ranging from 1000 meters to 2000 meters in water depth.

Blocks PPL-300-DO, PPL-301-DO, and PPL-302-DO are located in the Nigerian Transform Margin area. Blocks PPL-303-DO, PPL-304-DO, PPL-305-DO, and PPL-306-DO are within the deep-water Niger Delta Basin.