Business
Trans-Saharan Gas Pipeline Project To Gulp $400m
The Federal Government has earmarked $400 million in the 2013 budget to fast track the Trans-Saharan Gas Project. The Acting Director-General, Infrastructure Concession Regulatory Commission, Dr Ghaji Bello, made the disclosure yesterday in Abuja.
He spoke at the opening of a two-day technical workshop on Presidential Infrastructure Championship Initiative (PICI). Bello said the project would foster and transform the economy of African countries and impact on the lives of the citizens.
The workshop organised by The New Partnership For Africa`s Development (NEPAD) has as its theme, “PICI: A Panacea for Sustainable Growth and Development for Africa”.
“As a sign of its commitment, the Nigerian Government has made a provision of $400 million in the 2013 budget in order to move the project up to the next stage. “We are not just doing project for the sake of doing project. We are doing it to advance development, progress and to impact on the lives of the citizens of our continent,” he said.
He stated that three countries, Nigeria, Niger Republic and Algeria, were involved in the project, adding that the project would also involve the running of gas pipelines from Calabar to Niger Republic into Algeria and then to Spain.
He said the project was critical to the economic transformation of the countries adding that “Africa needs to drive its development”.
Bello, however, urged African countries to make infrastructure a priority, “until the challenge is tackled the trajectory of Africa’s growth will remain slow”.
In his remarks, the Chief Executive Officer, NEPAD Planning and Coordinating Agency (NPCA), South Africa, Dr Ibrahim Mayaki, said PICI was a continental infrastructure aimed to develop the continent and would drive regional development for the next 27 years (up till 2040).
PICI is a project to act as a catalyst for the rapid and sustainable development of the region and to spur continental infrastructure development as initiated in 2011.
The Trans-Saharan gas pipeline, which is also known as NIGAL pipeline and Trans-African gas pipeline, is planned to transfer natural gas from Nigeria to Algeria and to Spain. Seen as an opportunity to diversify the European Union’s gas supplies, the idea of the Trans-Saharan pipeline was first proposed in the 1970s.
On January 14, 2002, the Nigerian National Petroleum Corporation (NNPC) and Algeria national oil and gas company (Sonatrach), signed a memorandum of understanding for preparations of the project.
The Minister of State for Works, Amb Bashir Yuguda, has restated Federal Government’s commitment to the actualisation of the Trans-Saharan Road Projects (TRP) to enhance socio-economic activities among the states. He gave the assurance yesterday in Abuja when he received a delegation from the Algerian Embassy, led by the Secretary General of Trans-Saharan Road Liaison Committee, Mr Ayadi Mohammed.
Yuguda said that Nigeria was aware of the value of the road which passes through six nations. “Trans-Saharan Highway with a total length of 4,680 kilometre traverses six countries in the Sub-Saharan region, namely Nigeria, Niger Republic, Chad, Mali, Algeria and Tunisia. “The main axis of the project starts from Lagos on the West Atlantic Coast and terminates at Algiers on the Mediterranean Coast of North Africa.
“The construction of the roads would further promote trade, unity and facilitate easy transportation of Goods and services across the nations,” he said.
Yuguda assured the team of the Federal Government’s support to the nation for the actualisation of the road. He also said that Government had done feasibility studies on the road and had put into consideration the concessions for the trans-Saharan roads to enhance speedy completion.
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
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.
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