Business
That Bilateral Air Services Agreement With Israel
In spite of the rising volume of trade between Nigeria and Israel and the large number of Nigerians performing the yearly Christian pilgrimage to Israel, there is no direct air link between the two countries.
As a result of this, “spiritual visits’ to the Holy Land and business trips have been tortuous and rigorous due to the absence of direct flights between Nigeria and Israel.
This is because anyone travelling to Israel from Nigeria has to make a compulsory stopover in countries like Turkey, France, Germany, Cyprus and Ethiopia before proceeding on the journey
Statistics from Israel’s Ministry of Tourism, however, indicate that Nigeria has the highest number of pilgrims coming to Israel after the U.S.
Observers, therefore, believe that the signing of Bilateral Air Services Agreement (BASA) with Israel in Jerusalem on October 28, 2013 would redress the trend.
The Acting Minister of Foreign Affairs, Prof. Viola Onwuliri, who signed the agreement on behalf of Nigeria, said that the agreement would deepen bilateral ties between the two countries and boost their economies.
“The agreement will augur well for movement of persons, pilgrims, businessmen, academics, the civil society and students. Many of our people also come here to benefit from the technology of Israel,’’ she said.
Onwuliri said that the agreement would also make a tremendous impact on trade and investment, agriculture, construction, tourism, security and capacity building.
Mr Zeev Elkin, who signed on behalf of the State of Israel, noted that the visit of President Goodluck Jonathan, who was in Israel when the agreement was signed, provided a great opportunity for the signing of the agreement.
The Minister of Aviation, Ms Stella Oduah, said that the BASA agreement would be exploited to enhance the performance of the aviation sector. She said that the aviation sector was already targeting the operation of daily flights to Israel.
On his part, Mr John Kennedy Okpara, the Executive Secretary, Nigerian Christian Pilgrims Commission, said that the agreement could reduce the number of hours which pilgrims spent on flights, as well as cut costs.
Mr Ike Willie-Nwobu, the Executive Director, Nigeria-Israel Chamber of Commerce (NICC), said that the BASA agreement with Israel would remove some barriers hindering trade between the two countries.
He stressed that Nigerian entrepreneurs had not been able to fully utilise the investment opportunities in Israel because of the rigours of travelling through connect flights.
“Anyone travelling to Israel from Nigeria has compulsory stopovers in countries like Turkey, France, Germany and Ethiopia before proceeding on the journey.
“This has been a major disincentive to Nigerian entrepreneurs seeking business ties with their Israeli counterparts,” he said.
Willie-Nwobu said that the agreement would open new frontiers for investment opportunities in various sectors of the economy.
“There will be opportunities for airlines that are interested in flying through major air routes in Nigeria and Israel.
“It will also create a crash in the price of flight tickets which is currently between N400,000 and N450, 000. It will shorten business transactions and reduce restrictions on export of goods,” he said.
Mr Jude Arinze, Executive Secretary of NICC, said that the BASA agreement would definitely boost trade between the two countries.
He said that the value of Nigeria’s exports to Israel had increased from N2.7 billion in 2012 to N4.5 billion in 2013.
While Israel’s import from Nigeria, however, declined from N14.6 billion in 2012 to N9.3 billion in 2013 and the current trade deficit between the two countries was N12.5 billion.
Apart from economic interests and pilgrimage binding Nigeria and Israel together, the two countries share common stance in global peace and fight against terrorism.
Israel’s President Shimon Peres, who met Jonathan during the 2013 pilgrimage to Israel when the BASA deal was signed, said that both countries were facing the menace of terrorism.
Peres said that Nigeria and Israel had been steadfast partners in efforts to combat radical religious terror groups such as al-Qaida, Hezbollah and Boko Haram.
“With Nigeria at our side on the front against terror, we remain determined as ever to combat the spread of darkness. The future can be saved by making peace; it is in Israel’s interest to live in peace with our neighbours. Peace, in itself, may be the greatest benefit to the two of us — Israel and Palestine.
“Terrorists all over the world are united in their attempt to destroy hope and unity; those of us who seek peace and freedom must be united in order to defend our common front,’’ Peres said.
On his part, Jonathan acknowledged the unrelenting efforts of the Israeli president to bring about a peaceful solution to the protracted Israeli-Palestinian conflict.
He said that Nigeria welcomed the commitment to peace talks by both sides and the recent release of a number of Palestinian prisoners by Israel. We urge that the momentum for negotiations and eventual resolution of the crisis be sustained,’’ he said.
Jonathan noted that with the burgeoning peace between Israel and her neighbouring countries, more Nigerians would be encouraged to visit the State of Israel.
He said that the number of Nigerians visiting Israel annually was ever increasing, stressing that not less than 30,000 Nigerians visited Israel in 2012.
Jonathan also said that about 50 Israeli companies were actively operating in Nigeria, either directly or through joint ventures.
He listed the areas of Israeli involvement in Nigeria as agriculture, construction, communications, infrastructure, water management and resources, education and health.
Stakeholders urge the Federal Government to improve Nigeria’s economic relations with the State of Israel, while aiding the fulfilment of the BASA agreement with the Middle East country.
Okoronkwo for News Agency of Nigeria (NAN).
Chijioke Okoronkwo
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
