Monetary policy on point, but fiscal measures remain insufficient
A year after his appointment as the governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has come the same conclusions as many of his predecessors – Nigeria’s successful monetary policy is dependent on appropriate fiscal policies, measures, and programmes. For instance, in his presentation after the monetary policy committee in September, the governor said: “Members (monetary policy committee) therefore reiterated the need to work in close collaboration with the fiscal authority to address the current upward pressure on energy prices. The MPC noted the continued growth in money supply, recognizing the need to curtail excess liquidity in the system as well address foreign exchange demand pressure. Members were also concerned about the growing level of fiscal deficit but acknowledge the commitment of the fiscal authority not to resort to monetary financing through ways and means. Furthermore, members observed a strong correlation between FAAC releases and liquidity levels in the banking system as well as its impact on exchange rate.” From this statement, it is not only clear that current macroeconomic stability measures of the Bank are hindered by fiscal policy measures but that there is a lingering mindset in the government at all levels that the solution to all problems is to spend. This mindset is also responsible for the poor choices made when it comes to expenditure. While energy prices are rising following the removal of subsidies, it been exacerbated on the back of the volatility and weakness of the exchange rate that arises from pressures from FAAC releases. Fig. 1. Changes in fuel prices showing dramatic changes since June 2023. As also shared above, the growth in money supply and excess liquidity in the financial system, exerting pressures on prices and exchange rate, also originates from fiscal expenditures. The governor also expressed concern over the growth in deficit financing of the budget. After his appointment in September 2023, Yemi Cardoso has set to do three major things – fight the twin elements of macroeconomic instability in exchange rates weakness and volatility, and inflation, strengthen the country’s financial system, and clean the rot in the apex bank in relation to lose monetary policy arising from development banking. By suspending all development banking measures, the governor has cut the over N10 trillion liquidity through credit subsidies, and strengthening the banking system through the ongoing new capital requirements. However, establishing macroeconomic stability remains a tough challenge. Notwithstanding, the Bank, under Cardoso’s leadership, has grown the country’s external reserves by nearly 20 percent since September 2023, with reserves up from the US $33 billion in 2023 to US $39 billion in September 2024. The macroeconomic instability challenge is also a common theme in the analysis provided by all monetary committee members in their statements released last week. It is on the basis of this that all members of the MPC voted to raise the monetary policy rate by 50 basis points from 26.5 percent to 27.25 percent except Philip Ikeazor, the deputy governor in charge of financial stability, according to the personal statements released by the Bank last week, To see the changes in the Nigeria’s debt dynamics since the Q1 2024, ThinkBusiness Africa checked the debt data releases on the debt management office (DMO) website. It observed that the latest data for Q2 2024 has not been released. It thus means that for this first in this decade, the subsequent quarter has elapsed without the releases of the latest debt data for the previous quarter. If this persists, doubts will begin to set in about whether the government is hiding the latest data of deficits and debts or seeking to manipulate the level of deficits and debts as done under President Muhammadu Buhari when the government hid the data on ways and means until the twilight days of his administration. Since June 2019, all debt data releases were done in the middle of the following quarter.
NELFUND should support Nigeria’s professional needs and not certificates for the sake of it
There is a sense that every measure of what constitute reforms under President Bola Ahmed Tinubu seeks to deal with the metrics rather than the conditions. For instance, there have been two sets of broad changes made under his presidency. The first set is the market based economic changes of the removal of fuel subsidies during his inauguration speech and the liberalisation of the foreign exchange market two weeks after. Those two changes focused on the prices rather than the market conditions that drive the underlying prices. Rather than seek to understand and change the market conditions that deliver the unacceptable prices, the President had proceeded to change the prices and expected the market conditions to align. Of course, that did not happen. The other set of “reforms” is the different categories of financial support provided to different groups of people on the back of worsening economic crisis under his leadership. We now have a deepening and broadening of the social support programmes first introduced under President Muhammadu Buhari. In this case also, rather than focus on the underlying challenges around production and productivity, the president has focused on providing different forms of cash transfers which invariably chases the same amount of goods in the economy. However, there is something entirely new about the student loans support. The Nigeria Education Loan Fund (NELFUND) established last year with an initial N5 billion is a great initiative but requires reforms. The loan is expected to provide increasing access to higher education to those that cannot afford it. With a monthly allowance of N20k and payment of relevant tuition fees, it is expected that 1.2 million students will benefit in the first phase. So far, an estimated near 300,000 students have already applied. But access to higher education has never been a serious problem. Access to quality and relevant higher education is the national problem we face. As it is, the loans are used by any student that needs it, but this does not necessarily means that it is used by the student that really needs it. Since the loans are not means tested, it is not necessarily the most indigent that gets it. So, rather than focus on expanding access to just any course in any higher institution in the country, the resources should be used to support the professional needs of the country. Rather than focus on the financial handicaps of students, the loans are better off supporting the growth and expansion of the professional areas most needed by the country – medical, biological, and technological sciences. These are areas where Nigeria can most benefit in the medium and long ter, using the loans as incentives. It is time for Nigeria to move beyond elements of socialism and the democratisation of poverty. The scarce resources available for scholarships should be used to solve Nigeria’s problems and not for personal egos. Spending four years doing courses and attending universities classes that do not add anything serious to knowledge and skills should not be our priority but how to fill the enormous gaps in the fields of medicine, pharmacy, technology, labs science, electrical, civil, and other forms of engineering fields. These are those that require incentives to study those courses. Indeed, because of the length of some of these courses, the relative higher costs of studying them, and the perceived faint interests by the government in these areas, many intelligent and brilliant students avoid them. By also focusing on the excellence of students, irrespective of financial background, which the government is not able to judge in the applications anyway, the government will be providing incentives for excellence. In conclusion, Nigerians have always loved education. Though that has metamorphosed into the erroneous love for certificates, rather than knowledge. It has also led to the rapid increases in the number of universities without commensurate increase in knowledge and skills. A corollary of that is the many degrees in our universities that have no further implications than the certificates awarded. It is no wonder that the managing director of NELFUND, Akintunde Sawyerr believes the students should be further supported with job opportunities if they do not get one two years after their service year. NELFUND should not preoccupy itself with that. It should be about supporting the best students to be relevant to Nigeria’s economic growth and development. So, instead of providing across all kinds of courses in all kinds of higher institution, the fund should support Nigeria’s priorities and expected outcomes. I thank you.
How not to remove fuel subsidies …. The vicious cycle of foreign exchange liberalization on fuel prices
Since the President announced the removal of fuel subsidies on May 29th, 2023, it has been difficult to estimate the accurate subsidies been paid by the government. The government is only not transparent, it is also not clear what volume of petroleum products is imported into the country and how demand and smuggling across the border is changing in response to changes in prices. Fuel prices, demand, and the level of smuggling area also affected by changes in the exchange rates while lags in timing for payment and receipt of imported products also makes it difficult to estimate levels of subsidy. Finally, the government /NNPC has not been forthcoming about the dynamics of the volume of fuel imported since the announcement of the removal of fuel subsidies by the President. Though there are many variables, and these variables are shifting, ThinkBusiness analysis show that the most devastating effect on fuel prices have come from changes in the exchange rate. As argued in the piece [insert link] the floating of the Naira on June 14th have been done without understanding its implications on fuel prices. This means that the government did not think through the implications of another major policy so soon after removing fuel subsidy before going ahead. It shows a gross lack of understanding of how reforms are handled that President Tinubu and his team thought that the two policies could not be contradictory in the short term. Without the exchange rate volatility that followed exchange rate reform, the removal of fuel subsidy would have been a one shot increase in price. The exchange rate changes, therefore, contributed to the rise in fuel prices more than any other thing. In June 2023, crude oil prices averaged about US $71 per barrel, about the same price this week. Since June 2023, whereas crude oil prices have been largely flat as shown in fig. 1 Nigeria’s fuel prices has increased by over 500 percent, as shown in fig. 2. Fig. 1. Nigeria’s Crude oil prices, production, and OPEC Quota. The table below compares the price changes in fuel in six countries in the last seventeen months since fuel subsidy removal. Comparing the changes in prices rather than differences in absolute prices allows us to focus on what is driving the changes. Without any change in policy or taxation in these countries, all the other prices responded to changes in the price of crude oil and other internal industry conditions, but Nigeria largely responded to the changes in the value of the naira against the US dollar. Fig. 2. The Changes in fuel prices in six countries, including Nigeria The president and his team have tacitly agreed that the casual and non-preparedness of the removal of fuel subsidy has led to some chaos. What they have not admitted to is the scale of not only not considering the implications for prices of food and transport, but that the president thought that the market will sort itself and the policy was taken in isolation. Fig. 3. The Exchange rate of the Naira against the US dollar. Unlike in the past, it thus appears the government is determined to see through the removal of fuel subsidies. From all indications, the government is currently passing on to Nigerians all fuel price changes arising from all the price changes relating to exchange rates, crude oil, transports, and all other related costs. However, the complexity and uncertainty surrounding the removal of fuel subsidy and the resultant fuel prices changes can only be minimised through stable exchange rates. With stable exchange rate, fuel prices will now only be affected by changes in the market conditions of the industry and not how the exchange rate shift prices significantly. And the entrance of the products from Dangote refinery will not help. Though supply have increased from Dangote refineries and the government has allowed the payment of crude in Naira, it does not change the fact that crude oil and its by products are international commodities and that removal of subsidy automatically integrates the Nigerian market into a global supply and demand chain. In the context, the outlook for a stable fuel price is weak. The government has focused on the metric and not the conditions. The government has focused on prices rather than working on the market conditions that improves stability and predictability for Nigerian consumers. And this is the most fundamental flaw of the reforms the government has embarked on. Invariably, the government has moved from one price fixing to another. Instead of focusing on improving the market conditions that dictate the price of the fuel and that of the exchange rate, the government has focused on the prices themselves. By focusing on prices, it has now realised that the market conditions do not support the new price targets.
How not to remove fuel subsidies
17 months is a short time in a country’s history, but it can also be a long time. 17 months after the casual statement by President Bola Ahmed Tinubu during his inauguration, many Nigerians are in utter shock. They are shocked that fuel prices have moved from N185 per litre in May 2023 to between N1,100 and N1,300 across the country. That is a staggering 550 percent increase. Some have described it as their worst nightmare. Fig. 1. The dynamics of PMS and diesel prices since June 2017 Wale Edun, the Minister for Finance, and the coordinating minister for the economy said last week that the government no longer pays subsidies on fuel and the foreign exchange. Recently also, the Group Managing Director of the Nigeria National Petroleum Company (NNPC), Mele Kyari argued that the prices of fuel in Nigeria and across West Africa trade corridors needed to match to prevent smuggling from Nigeria, supposedly stressing the motivation for the removal of fuel subsidies in the country. It follows that those in government, whenever they speak, spill two narratives. They argue that the reforms were necessary and there is no alternative. They also argue that Nigerians needed to pay this price for a greater future. However, what is clear, both in government and in public, is that no one could have predicted the dramatic increases in the price of fuel in the last 17 months. The expectation was that the increase in the price of fuel will be a one-off. However, fuel prices have gone up four distinctive times and the expectation is that there will further increases. And the simple reason is not just because the subsidies were not removed in full in June 2023, but because of the volatility of the exchange rate in the period. Combined, there are three dimensions to the crisis that are often absent in most analysis. First, there is no clear path or destination in President Tinubu’s reforms. For many months now, the President and his team have been at pains to explain the rising costs of living as a necessary pain for future growth, as part of a downturn of the global economy, and a necessary adjustment for the future growth in the country. However, these statements are made without context and explanation of the future they see. No one in government has been able to explain how the removal of fuel subsidies and the liberalisation of the foreign exchange will lead to investments, growth, and jobs. The argument here is not that there are no paths, but that the government has not figured that out. Nearly 18 months after the reforms, the government has not provided a concrete path to investments, growth, and jobs. The reason the government has not been able to provide these paths is because it has become obvious that those in government assume that those announcements are the reforms themselves and that “ right pricing” is sufficient to improving market conditions. Second, the floating of the Naira on June 14th have been done without understanding its implications on fuel prices. The government, after supposedly removing fuel subsidies at the start of June last year did not think through the implications of another policy before going ahead. It shows a gross lack of understanding of reforms that President Tinubu and his team thought that the two policies could not be contradictory in the short term. Without the exchange rate volatility that followed exchange rate reform, the removal of fuel subsidy would have been a one shot increase in price. Finally, the hasty, casual, and pedestrian way the removal of fuel subsidy was done also meant the necessary conversation, consultation, and preparation for what replaces or what the resources could be used for was not done with State governments. The outcome is a disparate and incoherent expenditures of newfound windfalls in governments, especially State governments. Fig. 2. State governments have been the largest beneficiary of FAAC since the removal of fuel subsidies The outcome is now different from the many arguments that were constructed by many in favour of the removal of subsidies, including by ThinkBusiness Africa. The argument was that the removal of fuel subsidies will allow greater level of expenditure on education, health, and infrastructure. However, there is no evidence that these expenditure ratios on these items have been significantly more than when the fuel subsidy was in place. These situations persist. The government is not having a debate within itself about what can be done. The federal government is not having the debate or consultation with State governments about what can be done to improve market conditions and not spike the foreign exchange markets. And the government continues to believe the “right pricing” will bring about the investments, growth, and jobs. That same partial analysis has made the World Bank Chief Economist Indermit Gill suggests that it will take 15 years of continuous reforms for Nigeria to break the cycle of low growth. But Gill did not tell his hosts that this is not the way reforms are done.
Tahir Mamman goofed.
Until last week, very few knew who Tahir Mamman was. It was fitting therefore that he announced himself in a way symptomatic of this government. The minister announced during his interview with Seun Okinbaloye on Sunday Politics that students under the age of 18 will not be allowed to sit the West Africa Examinations Council (WAEC), National Examinations Council (NECO), and the Joint Admissions Matriculation Board (JAMB) exams. According to the Minister, This policy is not new. It is inbuilt in the 6 – 3 – 3 – 4 or the modified 9 – 3 – 4 system of education that started in 1983.Students not yet 18 will not be allowed to write the three major exams in tertiary education – WAEC, NECO, and JAMB.Third, that students will not be able to write these exams if they have not adhered to the 6 – 3 – 3 – 4 structure. The objective of the directive is simple. The minister, and by extension, the government, seeks to prevent immature students gaining admissions into Nigerian universities. However, by simply saying the implementation will commence next year does not solve the problem. Indeed, it is symptomatic of the way and manner serious policy issues have been handled under President Bola Ahmed Tinubu. There are many examples, including the fuel subsidy removal, the levy of US $10,000 on the companies with foreign directors, the change of the national anthem, the policy on 5 Percent digital levy, the ongoing 70% on banks windfall profit on exchange rate transactions, and the recent change in the CBN Act. Back to the minister’s announcement, it is possible for a student to have gone through the entire system and not be 18 years old. So, to fix the problem requires going back to the foundation. But that requires hard work and diligence that our policy makers are not known for.The policy affects everyone and applies to everyone from Primary 1 to Senior Secondary School (SSS) three if they are not at the required age to reach 18 when they write the exams. Since last week, I have checked the Ministry’s website, waited to see if a detailed policy document, or guidelines, will be released, and I have not seen one. I suppose the Minister thinks since he has announced it, that is the end. I am not the only one to think in this direction. Dr. Mike Ene, the Secretary General of the Nigerian Union of Teachers (NUT) thinks the same, as interviewed in the Tribune and Punch. If schools and parents only require a year to prepare for this directive, does the minister know how many students will be affected next year? Does the minister have a plan for those students that will be affected, or they don’t matter? Is the minister aware that significant number of students in private schools write other forms of exams and this further alienates them. Is the minister aware that we have near complete polarized education where majority of the private school students are trained with British and US curriculum and the students are prepared for universities abroad. In conclusion, some have argued that underage children in universities is one of the problems. I agree. But the manner you judge a serious policy maker is how he or she focuses on what everyone believes are the top three problems. In Nigeria today, poor quality education is number one problem. And by extension, poor skills. Second, there are over 20 million children our of school. Third, there are extensive poor teaching and learning resources across the country. While the Honorable minister was pursuing the small trophy of ensuring our universities only admit students above 18 years old, I do not know of any credible plan for the over 20 million that are out of school. In conclusion, I do not believe anyone less than 18 years should be in university, except in special circumstances, but this will not work. It will not work because it is rash, ill thought and ill prepared. Policies for and that affect over 200 million people should be thorough, rigorous, and comprehensive. If we are to solve problems, and not just symptoms, our policy makers should not be lazy, distracted, and pedestrian to think of and show how a policy works in practice.
Business confidence rises on expectations of monetary policy stability
The Central Bank of Nigeria (CBN) business survey for July 2024, released last week, has thrown up optimism for increased business confidence in the economy as the Naira is expected to stabilize over a six-month period. Outlook for August, October, and January 2025 shows indices of 7.6, 19.3, and 30.7, respectively, with businesses expecting greater levels of improvement in macroeconomic conditions later in the year. While the Naira is expected to continue to weaken in the coming months, the data shows an expectation that it will appreciate by the end of the year. The survey also shows positive employment outlook. The indices show different employment optimism levels, with agriculture the highest at 14.5, followed by construction at 13.9, and market services the lowest at 4.4. However, the immediate expectation is weak. The index shows a 0.1 for July 2024, down from 3.0 in June. The survey included 1600 businesses across services, industries, and agriculture. It covers expectations for August, October, and January 2025. According to the report, insecurity was the highest constraint to growth and business activity. Other factors are high interest rate, insufficient power supply, and high and multiple taxes. The overall confidence of 0.1 points to a decline of 2 points from June, showing the impact of raise in interest rates in May, given that the survey was taking days ahead of the July monetary policy committee meeting. Nigeria is going through one of the most difficult moments in history, with last year’s macroeconomic conditions and costs of living crisis the worst in a generation. The two-year inflation trajectory that started in April 2022 at 16.82% peaked at 34.19%, after July inflation recorded is 33.4%.
ThinkBusiness Africa/Africa Business Convention Graduate Trainee Program
Become a Future Leader Join our comprehensive 1-year graduate training programme designed to nurture high-potential young talents into well-rounded professionals. At ThinkBusiness Africa / Africa Business Convention, we’re seeking passionate and dedicated individuals to join our team. Our Graduate Trainee Program offers a unique opportunity to: Requirements: Benefits: Ready to kickstart your career? Apply now and be part of a team that is shaping the future of business in Africa. Send application to: ogho@africabusinessconvention.com www.africabusinessconvention.com/www.tb.africa
LCFE at the forefront of FG’s 0% duty on staples, ameliorate food shortages
The Lagos Commodities and Future Exchange (LCFE) is set to lead the efforts of the federal government at addressing food shortages through the importation of staples foods such as rice, sorghum, wheat, millet, maize, and beans, ThinkBusiness Africa has gathered. The federal government, through the Nigeria Customs Service (NCS) released on Thursday the plans for 0% duty and value added tax (VAT) on key staples in the country for 150 days, to expire at the end of the year. Previously associated duties and VAT on the staples are suspended to support the federal government efforts at addressing rising food prices and shortages in the country. See Table 1. Food inflation reached 40% since April 2024. Table 1. Staple food Previous Duty New duty Husked Brown Rice 30% 0% Grain Sorghum 5% 0% Millet 5% 0% Maize 5% 0% Wheat 20% 0% Beans 20% 0% To avoid the ugly and incoherent situations of the past where the government could not track the purchase and distributions of such food items, the policy requires that at least 75% of the imported staples is sold through recognized commodity exchanges, such as LCFE. The press release says, “the policy requires that at least 75% of imported items be sold through recognized commodities exchanges, with all transactions and storage recorded.” With at least 75% of the commodities imported passing through exchanges, the government is assured of the transparency of the process, prices discovery, accurate data and records, and proper risk management frameworks. Indeed, it is for these reasons that the government is embarking on this only in the short term, so it does not jeopardies existing gains and growth in the trading of commodities through exchanges in the country. For instance, LCFE, operating since 2019, has over 40 companies trading commodities on its exchange. They trade commodities such as rice, soya beans, maize, cassava, gold, etc. Through the exchanges and the processes being developed, the government is increasingly becoming aware and able to track production, distribution, and consumption. Through established and continued improved exchange process that include the exchange, brokers, buyers, sellers, warehouse receipts, etc. Nigeria is increasingly modernizing how it trades its vast commodities. The Nigerian Customs Service (NCS), in its press release on Thursday 14th of August 2024, “guidelines for implementation of zero duty rate on some basic food items” says the government approved zero percent duty rate and VAT exemption on food items that include Husked Brown Rice, Grain Sorghum, Millet, Maize, Wheat, and Beans. The duty on rice was 30%, while that on Sorghum, Millet, and Maize was 5%, and Wheat and Beans carried 20% duty before the announcement that takes effect immediately. The plan is part of the government’s efforts at ameliorating the severe costs of living crisis, food shortages, and security in agriculture production zones. It follows the executive order signed by President Bola Ahmed Tinubu in June 2024, suspending import duty and tariffs on staple food items. The executive order is the accelerated stabilization and advancement plan (ASAP) of the government designed to address key challenges affecting the reform initiatives and stimulated development in various sectors of the economy. It follows dramatic increases in the prices of staple foods in the last one year. For instance, food inflation was 40.53% in May 2024, 40.9% in June 2024, and 39.53% in July 2024, compared to 24.61% in April 2023. In May this year, Nextier, an Abuja based think tank released a brief titled “averting Nigeria’s imminent food crisis.” The brief relied on the combined work of four major international institutions to arrive at its conclusions. UNICEF, Food and Agriculture Organisation of the United Nations in the report “The State of Food Security and Nutrition in the World 2023, and the United Nations World Food Programme 2023 all estimated that 25 million Nigerians were at high risk of food security last year. The International Rescue Committee also projected that that figure will reach 32 million this year. These estimates mean that in the space of two years, 15 million Nigerians have been added to the number of those at risk of acute food security and hunger.
My three takeaways from the recent protests
Ahead of the recently concluded protests, I found it surprising that the government was too jittery and felt that those who called for the protests would listen to the voices of elders and traditional rulers that they believe was responsible for their hunger and hopelessness. I believe it is this understanding that made Farooq Kper0gi, a professor of journalism, author, and researcher based in the US to highlight in his article, and I quote, “that the leadership of the protest, unlike the previous widespread protests in the country, was diffused.” End of quote. Ebenezer Obadare, the Douglas Dillon Seminar Fellow for Africa Studies at the US Council on foreign relations helped to qualify that and suggest that “rather than than the protests were leaderless, it was a different form of leadership that have emerged”. Notwithstanding that the protests are over, I thought to share my three takeaways, especially because they have implications for current and future social and political dynamics of the country. First, the reason for the continued division in the country 18 months after the 2023 elections that metamorphosed into the #endbadgovernance protests was the mistrust and distrust of the Independent National Electoral Commission (INEC) following bungled widely publicized electoral rules. For avoidance of doubt, while the opponents of the President may never accept him as the winner of the elections, his supporters also privately admit that INEC failed Nigeria, and it may take another generation for the public to trust the process again. So, the worst costs of living crisis in a generation merely accentuated and amplified their anger. Indeed, by mismanaging the process of the most important elections since the return to democracy in 1999, INEC has left many angry, disillusioned, and hopeless, much more than the result and the economic conditions since last year. To give hope, the President, though a beneficiary of a largely inadequate election, can build a stronger and more united Nigeria by addressing the short comings of the last elections. Second, and this is not the first time I am sharing this interpretation. Majority of Nigerians believe that the President, the Governors, and those in government do not share in the sacrifices of the worst costs of living crisis under their leadership. That is, it is generally seen that the government is exogenous to the economic reforms it espouses. Perhaps it is a communication problem, but they wonder if those that receive the financial support from the government are in the moon. The efforts of the government do not appear relatable since no one has come out that he or she received this support or the other. It is difficult for them to believe a government that says things will improve when most of the critical statements from the government are proven to be lies within 24 hours. Perhaps it is not relatable because simple government actions are embellished and amplified for no just reasons. It is not relatable when they see that government officials still live large and sometimes larger than the last administration. Finally, the protests highlighted the awful education and skills situation in the country. It is clear from the protests that Nigeria’s problem is not confined to the 130 million poor. It is now 130 million poor and uneducated. While it has always been there, social media has amplified its growth. Given what I have seen, Nigeria is dangerously threading towards successive generation with less education than their parents. It was not uncommon 30 years ago to see children in public schools able to read and write. That is rare today. So, increasingly, it is only the children of the shrinking middle class and the rich that can do so. It has become so bad that no one talks about how to get over 20 million children that are out of school the education they need. It has become so bad that the head of the Joint Admissions Matriculation board is lamenting the continuous decline in the cut off point for admissions into tertiary schools. It has become so bad that there are millions of unemployed people but are not fit for the thousands of jobs available. Oh yes, these problems did not start with the government of President Bola Ahmed Tinubu, but it is also the case that these problems are widening under him while the government seem helpless about tackling them. It is even more hopeless when the government continues to find the time to present and debate bills that seek to extend autocratic tendencies. For more of my thoughts, please visit tb.africa I thank you.
A Landmark Event for West Africa: The ESRI User Conference 2024
West Africa is on the cusp of a geospatial revolution, and the ESRI User Conference West Africa 2024 is set to be its epicentre. Scheduled for September 10-11 at the NAF Conference Centre in Abuja, Nigeria, this premier gathering will bring together a diverse community of GIS professionals, academics, and industry leaders to explore the transformative power of geographic information systems. The conference arrives at a pivotal moment. The region is experiencing a surge in data availability, driven by advancements in satellite imagery, GPS technology, and open-source platforms like QGIS. This wealth of information holds immense potential for addressing critical challenges in infrastructure development, environmental management, disaster response, and urban planning. The ESRI User Conference West Africa 2024 offers a unique platform to harness this potential. Attendees will delve into the latest ArcGIS software, gaining hands-on experience with tools that can revolutionize their work. Renowned experts, including GIS experts, representatives from GIZ, the Nigerian Communications Commission, the National Space Research and Development Agency, and leading figures from Sambus Geospatial, will share insights on cutting-edge applications, inspiring innovation and best practices. A highlight of the conference will be a keynote address by Akua Aboabea Aboah, Managing Director of Sambus Geospatial, who will discuss the company’s journey and vision for the future of GIS in West Africa. Additionally, the Surveyor General of the Federal Republic of Nigeria, Surv. Abudulganiyu Adebomehin, will share his perspectives on the role of GIS in national development. Beyond the technical expertise, the conference is a catalyst for collaboration and knowledge exchange. It’s a space where ideas are shared, challenges are discussed, and solutions are co-created. By bringing together diverse perspectives, the event fosters a vibrant ecosystem where innovation thrives. Sambus Geospatial, a leading provider of geospatial solutions in West Africa, is proud to host the conference. With a rich history spanning over three decades, Sambus has been at the forefront of introducing and implementing GIS technology in the region. The company’s journey, marked by resilience and innovation, mirrors the broader evolution of the geospatial industry. As a trusted partner and distributor of ESRI, ENVI, Trimble, and Wingtra, Sambus has played a pivotal role in empowering organizations across West Africa to harness the power of location intelligence. Through its expertise and commitment to customer success, Sambus has become synonymous with geospatial excellence. The ESRI User Conference West Africa 2024 is more than just an event; it’s a testament to the growing maturity of the geospatial sector in the region. It’s an opportunity to showcase the remarkable achievements made in recent years and to envision a future where GIS is seamlessly integrated into every aspect of society. The conference agenda is packed with thought-provoking sessions, including keynote addresses, panel discussions on emerging trends, and practical workshops. Participants will have the chance to learn about the latest advancements in GIS technology, explore real-world case studies, and discover innovative solutions to complex challenges. The event will also feature an exhibition area where attendees can explore the latest geospatial products, services, and technologies. This is an ideal opportunity for businesses to showcase their offerings and connect with potential clients. The ESRI User Conference West Africa 2024 is not just about technology; it’s about people. It’s about bringing together a community of passionate professionals who are dedicated to making a difference. By fostering collaboration, sharing knowledge, and inspiring innovation, the conference will play a crucial role in shaping the future of West Africa. As the region continues to develop and grow, the demand for accurate, up-to-date geospatial information will only increase. The ESRI User Conference West Africa 2024 is a platform for addressing this demand and ensuring that West Africa is at the forefront of the geospatial revolution. By attending this conference, participants will gain the knowledge, skills, and connections needed to drive positive change in their organizations and communities. They will leave inspired, equipped, and ready to tackle the challenges of the future with confidence and creativity. The ESRI User Conference West Africa 2024 is more than just an event; it’s a movement. It’s a call to action for GIS professionals to come together and shape the future of West Africa through the power of location intelligence. To register for the Esri User Conference West Africa 2024, please click the link: https://africabusinessconvention.com/event/esri-user-conference-west-africa-2024/ Join us in Abuja from September 10-11 as we map the future together.