Business
Boosting Nigeria-Poland Trade Relations
Until very recently, many Nigerian entrepreneurs were more comfortable doing businesses with West European countries, to the virtual exclusion of the East European nations which operated closed economies.
The reasons were not far-fetched! Effectively from 1945 when World War 11 ended, the famed Cold War — a period of the great ideological conflict between the West and East blocs — set in.
As a consequence, most countries in Eastern Europe were locked away behind the Iron Curtain, while operating closed and centralised economies that were unique to communist nations of that era.
With the end of the Cold War and the eventual collapse of the erstwhile Soviet Union in the early 1990s, however, the economic equation of Europe began to change.
As at date, many erstwhile East European nations have embraced democratic values of the West and consequently opened up their economies to the world.
Poland is one of such nations, which in 1989 shed its communist toga to embrace the capitalist credo and since then, its economic and political forays have known no bounds.
With a population of 40 million, Poland has thus far undergone a massive socio-political and economic transformation, which has ensured the prosperity of its people in all spheres of human endeavour.
For a visitor to the erstwhile communist enclave, the image of a very prosperous nation is discernible as all major towns and cities exude developmental characteristics.
There are broad roads with alluring greeneries on the sides, gleaming and well-maintained trams, exotic automobiles and fine architectural outlays, which typify the nation’s ancient and modern history.
The citizens also display unusual calmness, which perhaps, underscores their strong sense of security and contentment.
Beyond doubt, the citizens’ determination to rebuild their nation, especially Warsaw – the country’s capital, which was destroyed during World War 11, is discernible to any perceptive observer.
War historians say that Warsaw lost 85 per cent of its original buildings, among them, the country’s Parliament, during the war. Since the end of the war, however, the people have rebuilt the structures, recreating replicas of their original selves.
The Polish Deputy Foreign Affairs Minister, Ms Beata Stelmach, sheds light on the state of the Polish economy, saying that is had grown steadily at the rate of 4.3 per cent annually over time.
She said with some measure of pride that the Polish economy was unaffected by the last global economic meltdown, which pulverized the economies of many nations of the world.
In fact, some economists have said that the Polish economy had grown at such a dizzying pace that the country, which struggled to survive under communism barely 20 years ago, is now the sixth largest economy in Europe, overtaking The Netherlands.
On the political front, Poland is also the current President of the European Union (EU), a feat it could only have dreamt of two decades ago.
Nigeria’s Ambassador to Poland, Ms Asalina Mamuno, praised the growth of the Polish economy when she interacted with some Nigerian journalists, who undertook a study tour of that country between Aug. 28 and Sept. 4.
According to her, the communist Poland the world had known has now become history.
Mamuno insisted that there were vital lessons Nigerian investors could learn from Poland in terms of charting of economic directions, adding that even bigger nations as the U.S. and Russia were already learning some secrets of economic development from the Polish nation.
“Poland has potentials; they are a hard-working people. There is a lot to see here, a lot to learn; they are a talented people. We should have used them to build Abuja.’’
Analysts point to outstanding achievements of Poland in areas as ship-building, railway, alternative and renewable energy, military hardware, tourism and environmental maintenance.
In the construction and agricultural sectors, analysts stress that the Poles have held their own, recalling that a Polish firm – Navimor Invest, with a yearly turnover of over $60 million, built Nigeria’s Nigerdock Shipyard in Lagos in 1986.
Mr Tomasz Marcinkowski, a manager in the company, said that his company was also into hydro-technical construction and the development of power plants, seaports, cement pontoons and harbours, among others.
He bemoaned that Polish entrepreneur largely lacked information on business opportunities in Nigeria, even though they were quite willing to come over to do businesses.
Equally noteworthy is the interest picked in the Nigerian market by a Polish military hardware company — Bumar Group, considered the biggest military hardware company in Europe with a 40-year track record of operation.
Officials said that the group was interested in working with Nigeria’s Defence Industry Corporation (DIC) in the areas of technology.
Nigeria is on record to be Poland’s largest trading partner in West Africa and second in Africa but Mamuno insists that trade relations between the two nations, which began in the 1960s, was still at low and unequal ebb of 90 to 10 in favour of Poland
“Economically speaking, not much success has been recorded between Poland and Nigeria in the area of trade and investment but there are lots of areas we can explore, especially in agriculture.
“They have a good farming scheme and since agriculture is important to our transformation agenda, I think we can engage the Poles. ’’
She identified alternative energy sourcing as another area where Nigerian businessmen could key into the Polish expertise so as to regenerate the nation’s energy sector.
“Ninety per cent of Poland’s power is derived from coal; they also have a clean development mechanism, a technology that can reduce environmental pollution caused by coal. ’’
Mamuno said that some Polish investors had already shown interest in the use of Nigeria’s palm kernel as a renewable energy source — a move she described as a positive development.
A top official in the Polish Foreign Affairs Ministry also hinted that Poland was considering buying Nigeria’s coal to power the country’s energy facilities in a deal that could last for 10 years initially.
Stelmach said that Poland, on its part, would be willing to assist Nigeria in solving its power problems once both countries fostered their relationship.
“There is a need for study tours for businessmen as well as workshops and seminars. I will be satisfied if more companies from Nigeria come to Poland; there will be no obstacles to such initiative. ’’
The Polish Ambassador to Nigeria, Mr Przemyslaw also stressed the need for entrepreneurs of both countries to synergise. An immediate action in this direction, he said, was the simplification of visa procedures at both ends.
Niesiolowski said that the Polish embassy would not place any obstacles on the way of genuine investors and businessmen, saying: “If we meet such reliable people, we can hook them up with reliable partners. ’’
He recalled the participation of six Nigerian businessmen in the Polish International Trade Fair in Warsaw recently, describing it as a promotion of “people-to-people diplomacy’’ — a key component of trade relations.
From Nigeria’s end, Mamuno stressed the need for businessmen to always liaise with the nation’s embassies and missions abroad once they desired to undertake any international business deals.
“Most times, once people get their visas, they embark on business trips and deals privately without consulting us but when they go wrong, they start coming to the embassy for assistance. ’’
Observers say that while the consolidation of trade relations between both nations is imperative, there is, however, the need to engender thrust between the peoples, while economic information data base must be readily available.
Mr Marek Zelazko, Head of the Polish Chamber of Commerce, decried the lack of business contacts and platforms where businessmen could interact and exchange ideas and initiatives.
Zelazko underscored the necessity for a renewed partnership agreement, to be signed by both countries, which would be an improvement on an earlier one signed in 1998 by his association and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).
“The agreement was not fruitful to both countries; there is need to resuscitate the agreement by way of developing people-to-people diplomacy as it is the main force that will drive the framework. ’’
He also suggested the establishment of a Poland- Czech Republic-Nigeria Tripartite Joint Commission to promote economic co-operation among the three nations.
According to him, regional co-operation will expand investments and open up new market opportunities.
On his part, Alhaji Umar Gambo, a Nigerian businessman, who also does business in Poland, stressed the need for creation of increased awareness so as to properly educate businessmen on the opportunities that abound in both countries.
Gambo, who deals in technology systems, decried the low level of trade between Nigeria and Poland and urged the Nigerian government to take the lead in facilitating the international trade relation.
Apparently mindful of these viewpoints, the two countries have begun work on a Memorandum of Understanding (MoU) to guide economic relations between them.
Mamuno said that Poland produced the draft document while Nigeria was still evaluating the contents so as to harmonise issues for mutual benefits.
In what appears to be a determined effort to promote Nigeria’s international trade relations, the Federal Government recently established trade desks in all its embassies and missions abroad.
The objective, officials say, is to fill any information vacuum and offer potential investors in foreign lands details of business and investment opportunities which abound in the country.
Economic analysts say that while this measure is commendable, government must ensure that the desks are well funded, to enable them effectively discharge the mandate for which they were established in the first instance.
They insist that the funding must be prompt and adequate to save the desk officers from the financial embarrassments faced by some foreign mission staff lately due to the inadequacy of funds to operate effectively.
Salihu is of the News Agency of Nigeria (NAN)
Habiba Salihu
Business
MoneyPoint Empowers Pharmacists With Payment Solutions
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
Business
Embrace AI, CIIN Urges Insurance Operators
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
Business
NASRDA Reassures On Strengthening Nigeria’s Space Capability
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter