The old playbook is broken: Emerging markets must navigate the new, polarised global economic disorder
By Ahmed Usman
The global economic order is no longer merely under strain; it is fragmenting in ways that are particularly costly for countries like Nigeria and much of the Global South. Across continents, economic anxiety is feeding political instability, geopolitics is reshaping markets, and institutions once designed to stabilise the world are struggling to remain relevant. What we are witnessing is not a temporary downturn or a cyclical adjustment, but a deeper structural breakdown, driven by forces once assumed to guarantee global stability. For many emerging and developing economies, this moment is not just about global disorder; it is about survival within it.
Global economic power is shifting rapidly. Liberal market-oriented democracies are facing unprecedented domestic turmoil, and the deep integration of trade and finance that defined recent decades is steadily unravelling. From supply-chain fragmentation to trade wars, sanctions, and tariff escalation, the global economy is retreating from openness toward fragmentation. The question is no longer whether the post–World War II economic order is weakening, but how it reached this point and what, if anything, can replace it.
Ironically, the very country long believed to anchor global stability is now fueling its destabilisation. Globalisation was supposed to spread prosperity, deepen interdependence, and reduce the likelihood of conflict. Instead, it has widened inequality within countries, eroded the middle class in developing economies, and concentrated gains among a narrow elite. These imbalances have stoked political backlash, empowered populist movements in developed economies, and turned trade into a political weapon rather than a shared economic good.
This shift became unmistakable during the Trump administration, when tariffs, once viewed as relics of a protectionist past, returned to the centre of global economic policy. The imposition of broad tariffs on China and other trading partners signalled a decisive break from the rules-based trade order. What began as “America First” protectionism quickly reshaped global behaviour, legitimising unilateral trade actions, encouraging retaliation, and accelerating the erosion of multilateral discipline. Trade policy, once anchored in cooperation, became openly confrontational, and the precedent has proven difficult to reverse.
Nowhere is this erosion more evident than in the weakening of trust in liberal democracies themselves. Economic dislocation has bred social resentment. In developing countries, repeated external shocks such as oil price shocks, global interest rate hikes, and pandemic disruptions have led to inflation, currency depreciation, and shrinking real incomes. Rising living costs, youth unemployment, and fiscal austerity have weakened trust in democratic institutions and fueled social unrest.
Domestic politics, in turn, have become more constrained, limiting the policy space needed to pursue long-term development strategies. Political polarisation has weakened governments’ ability to sustain coherent economic policies. As domestic politics grows more volatile, foreign economic policy becomes reactive and confrontational. Trade barriers rise, industrial policy replaces market openness, and economic nationalism becomes a political necessity rather than an exception in many Western countries.
At the same time, the global institutions meant to manage these tensions have failed to evolve. The International Monetary Fund, the World Bank, and the World Trade Organisation, the cornerstones of the post–World War II economic architecture, were designed for a world dominated by a small group of advanced economies. Today, they struggle to respond to capital-flow volatility, technological disruption, climate risk, and the growing power of emerging markets. Their rules remain largely intact, but their legitimacy and effectiveness are increasingly questioned. Their frameworks are still anchored in assumptions that often underestimate social costs in developing countries. Conditionality, delayed financing, and inadequate attention to inequality and structural transformation have weakened their credibility across the Global South. The World Trade Organisation, meanwhile, has struggled to prevent powerful economies from bending trade rules in their favour through subsidies, tariffs, and industrial policy practices that have become more entrenched since the normalisation of tariff-based trade conflict under Trump.
For a time, the rise of emerging markets such as India, Brazil, Nigeria, and Turkey seemed to promise a more balanced and stable multipolar world. These nations benefited from globalisation without fully aligning with any single power bloc, acting as bridges between North and South, East and West. But today, that space is narrowing. Intensifying rivalry between the United States and China has turned trade, technology, finance, development assistance, and even currency choices into tools of geopolitical competition, forcing emerging market economies to pick sides in a contest they did not create.
For countries like Nigeria, this strategic squeeze is especially critical. Dependence on imported technology, foreign capital, and external energy markets makes neutrality costly. Sanctions regimes, supply-chain fragmentation, tariff escalation, and financial market volatility now transmit geopolitical tensions directly into domestic inflation, exchange rates, and public finances. What appears as global disorder at the international level is experienced as household hardship at home.
What emerges from this landscape is a destructive feedback loop between economics, domestic politics, and geopolitics. Economic shocks fuel political instability; political instability drives inward-looking policies; those policies heighten geopolitical tensions; and geopolitical tensions, in turn, further destabilise the global economy. Each turn of the loop reinforces the next, making disorder self-perpetuating.
This is why familiar prescriptions no longer suffice. Calls for more trade liberalisation, fiscal discipline, or institutional reform are not wrong, but are no longer enough. The world has changed too profoundly. Technology is reshaping labour markets faster than institutions can respond. Climate change is imposing costs that markets alone cannot price. Capital moves instantly, while political accountability remains national. Old solutions were built for a slower, more predictable world.
Breaking out of this cycle requires abandoning the comforting illusion that existing global arrangements will eventually self-correct. Calls for more liberalisation, deeper financial integration, or stricter fiscal discipline ignore the lived realities of developing economies. The old playbook was written for a world of expanding trade, cheap capital, and geopolitical cooperation. That world no longer exists.
What is needed instead is a fundamentally new approach. For Nigeria and the Global South, this means redefining integration on terms that prioritise resilience over efficiency. It means reforming global financial institutions to provide faster, more flexible support during shocks. It means investing in domestic productive capacity, regional trade, and human capital rather than relying on volatile external demand. And it means recognising that economic policy must be politically sustainable to endure.
The global economy is spiralling into disorder, not because globalisation failed entirely, but because it evolved without fairness, adaptability, or legitimacy. For countries like Nigeria, the stakes could not be higher. Remaining trapped in the doom loop will deepen vulnerability. Escaping it demands new thinking, new institutions, and a development model rooted in resilience rather than dependency.
The future of the Global South will not be secured by waiting for the old order to return. It will be shaped by how boldly countries confront the reality that the old solutions can no longer solve today’s problems.
The world is not spiralling into disorder by accident. It is doing so because the systems governing it have failed to adapt. Recognising this is the first step. The harder task of building a new framework for global cooperation in an age of rivalry, inequality, and uncertainty is now unavoidable.
The choice ahead is unambiguous: continue circling the doom loop, or accept that the old economic order cannot save us and begin the difficult work of inventing something new.
Security: Kano rolls out smart transport tracking system for commercial vehicles
By Uzair Adam
The Kano State Government has rolled out a Smart Transport Solution aimed at enhancing security and improving efficiency within the state’s transport system through the use of modern tracking technology.
The Daily Reality reports that the programme was unveiled on Saturday at the Afficient Event Centre, where top government officials, transport stakeholders and security agencies gathered for the flag-off.
Speaking at the event, the Commissioner for Transport, Barrister Haruna Isa Dederi, said the initiative, although new to Kano, is a globally tested system already deployed in major cities around the world.
“This is a system which is new in Kano, but not new in the world and not new in major cities,” Dederi said, explaining that the technology enables authorities to monitor transport activities in real time using cameras and satellite-based tracking.
He noted that the system would capture the movement of commuters and vehicles entering the state from designated points, with relevant data transmitted to appropriate authorities for monitoring and response.
According to the commissioner, security agencies including the police, the Ministry of Transportation and the Cabinet Office will have access to dedicated dashboards to track activities across the transport network.
“Everybody will be monitoring what is happening,” he said, adding that the initiative was informed by the growing influx of people into Kano due to its relative peace and economic opportunities.
Dederi stressed that while Kano remains one of the most peaceful states in northern Nigeria, there is a need to adopt modern technology to sustain security.
“That is why we just have to employ a lot of technological innovation, which will help us ensure absolute security in Kano,” he said, while commending the cooperation of security agencies in the state.
On the scope of the programme, the commissioner explained that the tracking system would initially cover all commercial vehicles, including tricycles, taxis, buses, trailers and tankers, with plans to eventually extend it to private vehicle owners.
“For the start, we are focusing on all commercial vehicles,” he said. “Eventually, it will come down to everyone.”
He added that the initiative is in line with the state’s comprehensive transport policy, which provides a legal framework for public-private partnerships and encourages investment in road and rail infrastructure.
“The government cannot go it alone. Partnership through public-private collaboration is the global trend, and Kano will benefit from it,” Dederi said.
Also speaking, the Head of Operations of As&Aj Company, Dr. Aminu Umar Maigari, explained that the firm is the technical partner responsible for deploying and managing the tracking technology used for the Smart Transport Solution.
He said the system was introduced to address security challenges in the transport sector and protect both commuters and their property, noting that As&Aj Company is providing the software platform and tracking devices required for effective monitoring.
Maigari described the initiative as part of Kano State’s efforts to embrace information technology in governance, adding that it would improve transparency and accountability in transportation operations.
He explained that the application required to access the system is free to download and use, with operators only expected to complete a Know Your Customer (KYC) process and install the tracker.
“The good thing about it is that it’s free. You don’t need to pay anything to download and use the application,” he said, adding that the combined cost of the KYC and tracker is N28,000, with a 10 per cent government subsidy for the first one million subscribers.
He noted that the flag-off ceremony was intended to create awareness among transport unions and local government stakeholders, adding that full deployment of the system would commence the following Monday.
In a show of support, the Chairman of the Vehicle Owners and Transporters of Nigeria (VOTOR), Comrade Nazifi Gidan Kudi, commended the initiative, describing it as timely and necessary.
He said the Smart Transport Solution would help check excesses among commercial vehicle operators, address unsafe driving and riding practices, and enhance security across the state.
The Daily Reality gathered that the Smart Transport Solution is expected to mark a significant step in Kano State’s drive to modernise its transport sector and strengthen public safety through technology-driven governance.
10 generals honoured in grand army farewell ceremony
By Abdullahi Mukhtar Algasgaini
The Nigerian Army Finance Corps (NAFC) held a vibrant valedictory parade on Friday to honour ten of its retiring senior officers, marking the end of their distinguished service.
The event, held at the Nigerian Army School of Signals Parade Ground in Apapa, Lagos, was praised by the Special Guest of Honour, retired Major General Kamal Ishola Yusuf. He described it as “one of the most colourful and dignified” ceremonies of its kind, highlighting the military’s role in upholding tradition as the backbone of its discipline and identity.
The retirees honoured were Major Generals KI Yusuf, AA Fayemiwo, J Mohammed, RN Ochei, MO Ihanuwaze, M Galadima, SA Gumel, and Brigadier Generals EA Obona, AS Maikano, and MK Baba-Mallam.
In his speech, Major General Yusuf expressed thanks for divine protection during their service and commended the Chief of Army Staff, Lieutenant General Waidi Shaibu NAM, for his support. He also acknowledged the efforts of Major General TT Sidick, the Chief of Accounts and Budget (Army), in organizing the successful event.
The ceremony drew a wide array of guests, including serving and retired officers, former army chiefs, commanders, industry leaders, bankers, and the families of the retirees.
The programme featured a formal pulling-out parade, a march-past, and group photographs. Attendees were later hosted to a reception at the Command Finance Office, featuring music, comedy, cultural displays, and refreshments.
Israeli condemns Kwara massacre, pledges support for Nigeria
By Sabiu Abdullahi
The Embassy of Israel in Nigeria has strongly condemned the recent massacre in Kwara State, which claimed the lives of over 160 people, describing the attack as a “horrific massacre” against innocent civilians.
In a statement shared on its X handle on Friday, the Israeli mission expressed “deep sympathy with the families of the victims and all those affected by the deadly attack, which is considered one of the worst mass killings in Nigeria in recent times.”
“The Embassy of Israel in Nigeria condemns the horrific massacre in Kwara State, in which over 160 innocent people were brutally murdered,” the statement read. The mission called the deliberate targeting of civilians “an affront to humanity and can never be justified no matter when or where it takes place.”
Israel also affirmed its solidarity with Nigeria, pledging support for the country’s efforts to combat insecurity and safeguard its citizens. “Israel stands in solidarity with the people and Government of Nigeria in their efforts to confront violence and protect innocent lives,” the embassy added.
The condemnation comes amid national and international outrage over the attack, which occurred in a rural community on Tuesday when armed men reportedly invaded the area, killing residents and burning homes. Humanitarian organizations and local residents have placed the death toll at over 160, with additional people still missing.
The massacre has drawn renewed criticism of Nigeria’s security situation, particularly in rural regions that remain vulnerable to armed attacks. President Bola Tinubu condemned the killings, ordered the deployment of security forces to the area, and promised that the perpetrators would face justice. However, civil society groups and residents continue to accuse the government of failing to prevent repeated attacks despite early warnings.
Security analysts warn that unless immediate and coordinated measures are taken to protect rural communities, strengthen intelligence, and address the root causes of violence, mass attacks like the Kwara incident may continue. Survivors and grieving families are calling for justice, accountability, and sustained security presence to prevent further bloodshed.
Trump defends sharing racist video of Obamas, says ‘I didn’t make a mistake’ despite deleting clip
By Sabiu Abdullahi
United States President Donald Trump has stated he did not err in sharing a video on his official Truth Social account that showed former President Barack Obama and former First Lady Michelle Obama depicted as apes.
Speaking to reporters aboard Air Force One on Friday, Trump insisted he “didn’t make a mistake” and said he does not need to apologize.
“I didn’t make a mistake,” he emphasized.
Trump acknowledged that he had not watched the entire video before it was posted. He explained:
“I didn’t see the whole thing. I looked at the first part, and it was really about voter fraud in the machines, how crooked it is, how disgusting it is. Then I gave it to the people. Generally, they look at the whole thing. But I guess somebody didn’t.”
When asked whether he condemned the video’s content, Trump replied, “Of course I do.”
The video, posted late Thursday, promoted a conspiracy theory about voting machines used during the 2020 election and included a racist portrayal of the Obamas. It remained on Trump’s account for about 12 hours before being deleted Friday morning after bipartisan calls for its removal.
Earlier, White House Press Secretary Karoline Leavitt defended the post in a statement, describing it as “from an internet meme video depicting President Trump as the King of the Jungle and Democrats as characters from The Lion King.”
She added, “Please stop the fake outrage and report on something today that actually matters to the American public.”
Hours after the statement, the video was removed from Trump’s Truth Social account.
Dear Donald Trump, we are not apes
By Muhsin Ibrahim
We could not sleep one night in 2008. Instead, we sat in front of the TV, watching and praying for ‘our’ favourite candidate to coast to power and be declared the winner of the election. We wanted to witness history, not of any relative winning any election in Nigeria, but of Barack Obama winning the United States presidential election.
Of course, we witnessed the history of the first non-white man becoming the president of the most powerful country in the world. We were delighted. We thought that, henceforth, black people would be more respected globally. Henceforth, our race would not be associated with backwardness. Henceforth, we would have more opportunities not only in the US but far beyond.
We also thought President Obama would do more for Africa (where his father came from) and for Muslims (his father’s ‘relatives’), especially in the Middle East. Again, his association with towering academics, such as Edward Said and Rashid Khalidi, gave us some extra hope. No, we got it all wrong. Obama was like the rest of them.
Obama’s role in destabilising Libya is still felt not only within the country but also far beyond, including in Nigeria. Obama authorised more drone strikes in the Middle East than any other US president. He did not bring peace anywhere, though he controversially won the Nobel Peace Prize.
Despite the above and more, I was disturbed to see President Donald Trump sharing the infamous Obamas’ “meme”, depicting them as apes. This was Trump’s new low. Its implications are also broad, extending beyond the Obamas. It, among other things, risks normalising racism, especially in the West, towards black people.
Trump is unlike any leader anyone has ever seen in the White House. Yet, we should not overlook this brazen attack on us; we must call him out for this naked racism towards black people. We are not apes. We are human beings like him, if not better. We deserve respect. He owes us an apology.
Police hand over $23,000 recovered from romance scam suspect Cayman Islands victim
By Sabiu Abdullahi
The Nigeria Police Force (NPF) has handed over the sum of $23,000 recovered from an alleged international romance fraud suspect to the British High Commission in Abuja for onward return to the victim in the Cayman Islands.
Police authorities said the money was retrieved from Achufusi Obioma, a Nigerian national who was under investigation for allegedly defrauding a resident of the Cayman Islands through an online romantic relationship scam.
In a statement issued on Friday, Force Public Relations Officer, Benjamin Hundeyin, disclosed that the complaint was first received by the INTERPOL National Central Bureau (NCB) Abuja from the Royal Cayman Islands Police Service.
He explained that the recovered funds were later transferred to the Royal Cayman Islands Police Service through Shaun McLeary, who represented the British High Commission in Abuja.
“The repatriation followed a request received from the Royal Cayman Islands Police Service seeking assistance of the INTERPOL NCB Abuja to investigate a Nigerian national, Achufusi Obioma Ikenna, who defrauded a resident of the Cayman Islands through an online romance scam,” the statement reads.
“Acting on the request, INTERPOL NCB Abuja conducted discreet, intelligence-led investigations which led to the arrest of the suspect and the recovery of the sum of $23,000.
“Following the completion of all necessary documentation and in collaboration with international partners, the recovered funds were formally handed over to the Royal Cayman Islands Police Service, through the British High Commission in Abuja, represented by Mr. Shaun McLeary, for secure delivery to the victim. Meanwhile the suspect will be arraigned at the conclusion of investigation.
“This successful repatriation underscores the Nigeria Police Force’s sustained commitment to intelligence-driven policing, effective international collaboration, and the disruption of transnational cybercrime networks.”
The Cayman Islands is a self-governing British Overseas Territory located in the western Caribbean.
EFCC arraigns ex–FUDMA VC over alleged ₦19.7m bribery in Katsina
By Muhammad Sulaiman
The Economic and Financial Crimes Commission (EFCC), Kano Zonal Directorate, on Thursday, February 5, 2026, arraigned a former Vice-Chancellor of the Federal University Dutsinma (FUDMA), Professor Armaya’u Hamisu Bichi, before the Katsina State High Court over an alleged N19.7 million bribery scheme.
Bichi was docked before Justice Musa Danladi Abubakar alongside two others—Lawal Tukur Mani and Aliyu Lawal Jari—on a five-count charge bordering on bribery.
According to the EFCC, Bichi, while serving as Vice-Chancellor, allegedly received kickbacks from contractors through the two co-defendants in exchange for the award of contracts at the university. One of the charges alleged that he obtained N5 million in July 2023 from a contractor as gratification for contracts involving the supply of medical equipment and laboratory furnishing, with the funds paid into a bank account belonging to one of the co-defendants.
All three defendants pleaded not guilty to the charges.
Following their pleas, prosecuting counsel, Salihu Sani, requested a trial date, while defence counsel moved applications for bail. Justice Abubakar granted each defendant bail in the sum of N5 million with one surety in like sum and adjourned the case to March 12, 2026, for the commencement of trial.
Former First Lady, Aisha Buhari, visits ex-VP Atiku in Saudi Arabia
By Abdullahi Mukhtar Algasgaini
Former vice President Alhaji Atiku Abubakar, on Friday in Saudi Arabia, received a courtesy visit from Hajiya Aisha Buhari, the wife of the former Nigerian President, Muhammadu Buhari.
The former First Lady was accompanied by her daughter, Hanan, and other family members during the meeting.
According to a statement from Atiku Abubakar, both he and the Buhari family are currently in the Kingdom of Saudi Arabia to perform the lesser Hajj, known as Umrah.
Alhaji Atiku Abubakar noted that he was honoured to host the visit, which underscores the continued cordial relationship between two the families.
Joint security raid nets 13 kidnap suspects, drugs, weapons in Edo north
By Abdullahi Mukhtar Algasgaini
In a major coordinated operation, Nigerian Army troops from 4 Brigade, alongside Air Force, Police, Civil Defence, and Edo State Security personnel, have arrested thirteen suspected kidnappers and drug peddlers in Edo North Senatorial District.
The operation, codenamed “Operation IGBO DANU 1,” was carried out on February 4, 2026, across Osara, Auchi, and Okpella communities in Etsako West Local Government Area.
According to a military press release, eight suspects were initially apprehended in the clearance raid. Items recovered from them included a pump-action gun, a locally made pistol, live cartridges, a POS machine, illicit drugs suspected to be cannabis, tramadol, and codeine syrup, as well as phones, a camera, and ₦87,550 in cash.
In a follow-up operation the same day, troops combed the Aviele Forest, leading to the arrest of five more suspects. Two motorcycles, phones, and a power bank were seized.
All arrested individuals and recovered exhibits have been handed over to the Edo State Police Command for further investigation.
The Commander of 4 Brigade, Brigadier General Ahmed Balogun, praised the inter-agency collaboration and warned that Edo State will remain hostile to terrorists, kidnappers, and other criminals. He reaffirmed the commitment of security forces to protecting lives and property in the state.









