Ndiame Diop becomes Nigeria’s World Bank Country Director after Shuham Chaudri

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Ndiame Diop becomes Nigeria’s World Bank Country Director after Shuham Chaudri - The World Bank in Nigeria has a new leader at the helm. Ndiame Diop, a Senegalese national, assumed the Country Director position this month, succeeding Shubham Chaudri. This marks the second leadership change for the World Bank in Nigeria within a year, and a historic first: both the World Bank and IMF now have African country directors in Nigeria,with Christian Ebeke (Cameroon) leading the IMF. Chaudri's tenure saw a significant boost in World Bank funding for Nigeria. Under his leadership, the bank approved nearly $19 billion for 30 different projects across the country between 2019 and 2024. However, a $1.5 billion budget support loan was initially withheld due to concerns about Nigeria's commitment to economic reforms. These concerns, centered around multiple exchange rates and fuel subsidies, were eventually addressed by the Nigerian government, leading to the loan's approval after they adopted a single exchange rate system and removed fuel subsidies in June 2023. Diop arrives with a strong track record. Previously, he served as the World Bank Country Director for Brunei, Malaysia, Philippines, and Thailand, based in Manila. During his time there, he's credited with tripling World Bank financing for the Philippines, enabling them to scale up crucial economic reforms and bridge socio-economic disparities in areas like nutrition, healthcare, education, and digital connectivity. With his experience and focus on economic reform and reducing inequality, Diop is expected to play a key role in supporting Nigeria's continued development. read more

West Africa Gets a Hub for Geospatial Innovation: ESRI User Conference West Africa 2024 Arrives in Abuja - The geospatial scene in West Africa is set to flourish with the ESRI User Conference landing in Abuja, Nigeria, on September 10th-11th, 2024. Hosted by GIS leader Sambus Geospatial, the event unites professionals, academics, and industry leaders across the region. To register for the Esri User Conference West Africa 2024, please click the link:  https://africabusinessconvention.com/event/esri-user-conference-west-africa-2024/

This conference highlights the growing importance of Geographic Information Systems (GIS) in tackling challenges from infrastructure development to environmental protection. With its ArcGIS platform, ESRI is a leader in GIS software, and the conference offers attendees a chance to explore cutting-edge mapping technologies and learn from real-world applications. Collaboration is a key focus, with dedicated networking sessions fostering partnerships and knowledge exchange. This is crucial for building a strong West African GIS community. The conference arrives at a time marked by advancements in geospatial technology. Increased satellite imagery, GPS-enabled mobile devices, and open-source software like QGIS have all played a role in making GIS more accessible and powerful. By uniting key players, showcasing advancements, and fostering collaboration, the ESRI User Conference positions West Africa to leverage GIS for a brighter future. Sambus Geospatial's leadership in hosting this event underscores their commitment to empowering the region in the geospatial revolution. Don't miss the chance to be part of this exciting event! read more

Nigeria’s Central Bank’s discontinuation of the price verification will reduce transaction costs – NESG - The Nigerian Economic Summit Group (NESG) is throwing its weight behind the Central Bank of Nigeria's (CBN) decision to discontinue its price verification system for imports. This move, implemented on July 1st, 2024, is seen as a positive step towards streamlining the import process and reducing costs for businesses. Previously, importers were required to obtain price verification reports before completing Form M, a mandatory trade document. NESG highlights several advantages of this change. Removing this step expedites the import of goods and raw materials, leading to improved supply chain efficiency. Businesses will also save time and money previously spent on compliance, allowing for better resource allocation. Finally, streamlining the process is expected to boost manufacturing and overall business confidence, potentially attracting increased investment. The CBN introduced the price verification system in August 2023 to prevent import overpricing. However, with the recent convergence of the official and parallel foreign exchange markets, the CBN deemed the system no longer necessary. read more

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