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Race To Presidency Of AfDB Hots Up As Amadou Hott’s Candidacy Is Officially Announced

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The race to the presidency of the African Development Bank (AfDB) has began in earnest as the Government of Senegal, through the Ministry of African Integration and Foreign Affairs, on Thursday, announced the official launch of the candidacy of Mr. Amadou Hott for the presidency of the bank.

BIGPEN NIGERIA (https://bigpenngr.com) reports that this official launch ceremony, which marks a major milestone for Senegal’s commitment to pan-African development, was held on Thursday, November 28, 2024, at 4 p.m., at the Terrou-Bi Hotel, under the effective leadership of Her Excellency Mrs. Yassine Fall, Minister of African Integration and Foreign Affairs.

After 60 years of remarkable progress, the African Development Bank has established itself as Africa’s leading development finance institution, thanks to the visionary leadership of its successive presidents.

The current presidency, Dr. Akinwumi Adesina, has also achieved unprecedented results in development impact and capital growth.

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Mr. Amadou Hott strongly contributed to this success under the guidance of Dr. Adesina, first as inaugural vice president of the Power, Energy, Climate Change and Green Growth Complex (2016-2019), and then as Special Presidential Envoy for the Alliance for Green Infrastructure in Africa (2022-2024).

With over 25 years of strong and diverse experience, combining investment banking, development banking, sovereign wealth fund management and public policy, Mr. Hott embodies a bold and inclusive vision to address the current and future challenges of the African continent. Former Minister of Economy, Planning and Cooperation of Senegal (2019-2022), he is a well renowned economist and financial expert with a deep understanding of the issues facing stakeholders, including governments and the private sector.

Through this nomination, Senegal seeks to contribute to the institution’s mission by proposing a competent, visionary and pragmatic leader who can help accelerate the implementation of Africa’s transformative projects and programs. This initiative further aims to enhance African integration, fostering sustainable and inclusive growth that generates employment while creating broader economic opportunities, with a particular focus on youth and women.

According to the statement, the official launch is tailored to inform the public about the candidacy of Mr. Amadou Hott and the support of the Government of Senegal, enhance the candidate’s assets and vision for the Bank as well as mobilize national and international support for this major bid’

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The statement said that “with this candidacy, Senegal expresses its commitment to actively contribute to Africa’s economic and social transformation while enhancing the African Development Bank’s capacity for driving sustainable prosperity for Africa. The government therefore invites all African and international partners to join in this shared vision of building a strong, united and prosperous continent for current and future generations”.

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SAD! APC lawmaker dies while asleep

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The lawmaker representing Kaura Namoda South Constituency in the Zamfara State House of Assembly, Aminu Ibrahim Kasuwar-Daji, has died.

It was gathered that the lawmaker passed on in his sleep during the early hours of Wednesday.

Aminu Ibrahim Kasuwar-Daji’s sudden death came as a shock to many in the state, especially his colleagues and political associates.

The All Progressives Congress (APC) in Zamfara, the party under which he was elected, expressed deep sorrow over his passage.

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Members of the party, including the State Working Committee and other supporters, described his death as a great loss.

They said he was known for his dedication and honesty in serving his people.

His family, community members in Kaura Namoda South, and fellow lawmakers have been thrown into mourning as preparations for his burial began.

According to Islamic rites, he was buried today at 3:00 pm in his hometown of Kasuwar-Daji, located in the Kaura Namoda Local Government Area.

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Many in the state have continued to express grief as they remember the role he played in representing the people and contributing to the work of the state assembly.

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Just in: Sam Olumekun takes over as INEC’s Acting Chairman

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Mr. Sam Olumekun has taken over at the Independent National Electoral Commission (INEC) as Acting Chairman.

Olumekun is INEC’s National Commissioner in charge of Information and Voter Education.

He performed his first duties today, receiving a high-level delegation of the Labour Party (LP) at the Commission’s headquarters in Abuja with other National Commissioners in attendance.

The delegation was led by Abia State Governor Dr. Alex Otti, who visited the Commission to discuss key developments within the Labour Party.

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It was gathered that both parties engaged in discussions centered on enhancing collaboration and reinforcing democratic values.

During the visit, Governor Otti formally presented a Certified True Copy of the recent Supreme Court judgment concerning the party’s leadership.

He noted that the meeting was aimed at fostering clarity, mutual understanding, and institutional alignment regarding the Labour Party’s current structure.

Mr. Olumekun, the Acting INEC Chairman, reaffirmed the Commission’s unwavering commitment to neutrality, transparency, and the rule of law in the discharge of its constitutional responsibilities.

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Recall that a viral WhatsApp message had indicated that Prof. Mahmood was sacked by President Bola Tinubu and replaced with one Prof. Bashiru Olamilekan.

“INEC Chairman Prof. Mahmud Yakubu has been replaced with Prof. Bashiru Olamilekan by President Tinubu,” the message, which had no attribution, read. However, both INEC and the Presidency debunked the widespread report.

Yakubu, who is rounding off his second tenure in office, is expected to exit the system towards the end of this year.

The process of appointing an INEC chairman is the President nominating a candidate and forwarding his particulars to the Department of State Services (DSS) for profiling.

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After such screening, the President, thereafter, takes the name to the National Council of State for its advisory review.

Based on the outcome, the President sends the name to the Senate for screening and confirmation.

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Crude oil prices slide further, now selling below $57

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Crude oil prices have dropped below $57, following a previous rate of $59.78.

This decline coincides with the imposition of tariffs on several countries by US President Donald Trump.

A report from West Texas Intermediate attributes this price slump to consistent 6% reductions observed last week.

JPMorgan Chase & Co has warned that these tariffs could likely push both the US and global economies into a recession this year.

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The financial institution explained that the tariffs, set to take effect this week, are expected to have widespread economic repercussions.

Market analysts and the business community have expressed concerns about the negative implications of these measures, predicting a slowdown in economic activities and a subsequent decline in oil demand.

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