Business
Fuel Scarcity: PH Residents Want Refineries Revived
Some residents of Port Harcourt metropolis have expressed strong view about the state of the nation’s refineries, saying it is largely responsible for the fuel scarcity situation across the nation.
Our Correspondent who spoke with some respondents said, they expressed uniform opinion on the issue.
The Director of Neldan Oil Service Limited, Princess Dema Ogba said, “no amount of rescue effort would ensure sustained free flow of petroleum resources in the country as long as the control of the sector is in the hards of the oil cartel”.
Ogba who noted that the cartel has taken charge of every aspect of the sector urged Federal Government to get the refineries working so as to take back the control of oil from the cartel.
She wondered why refineries cannot work in Nigeria to full capacity when it works in other nations of the world and stressed that with adequate will, the refineries would even work better and the issue of fuel scarcity would become a thing of the past.
The Director said, “a situation where petrol is imported exposes the product to circumstances surrounding the world market as currency depreciation, and extra cost.
Also speaking, Chief Nwalamba Pato, said “it is embarrassment that successive administrations have not exercised adequate political will to get the refineries working.
“If we produce the crude in Nigeria and refine it here, it will cut cost, it will create or expand market, it will create employment and the price will be determined by the local market environment than subjecting it to international influences as in the world’s competitive market”, he explained.
Pato maintained that until refineries in the country begin to work, the same negative interfernces causing scarcity will still be there.
In his own opinion, Mrs Chinyere Nwogu, an international businessman said, “It is funny when people keep saying refineries cannot work here and based on that, the nation keeps importing larger volume of the product from outside the country. It is so because the system has allowed those blocking the way of progress to remain our obstacle”, she said and noted that the best option is to push these elements of progress out of the way and enable the nation move forward.
“Even some countries that import the product from other countries do not suffer the kind of things we suffer in the name of fuel scarcity,” she said and narrated that she had spent over two hours looking for ordinary petrol in a nation so blessed with crude oil.
“This is a shame to us all and it is high time we stopped this nonsense”, said her.
Chris Oluoh
L-R: Deputy Comptroller-General (DCG) of Customs, Trade and Tariff, Mr Akinade Adewuyi; DCG, Human Resources, Mr Ibrahim Mera, Managing Director, News Agency of Nigeria (NAN), Mr Ima Niboro; Comptroller-General of Customs (CGC), Alhaji Dikko Abdullahi; DCG, Enforcement, Investigation and Inspection, Mr Tahir Musa and Special Assistant to NAN Managing Director, Mr Obiora Chukwumba, during a courtesy visit to CGC’s office in Abuja yesterday.
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