Business
ILO Adopts Recommendation On Labour Standard
The International Labour
Organisation (ILO) has adopted a recommendation on international labour standard with a view to helping workers transit from the informal to the formal economy.
The Director-General of ILO, Mr Guy Ryder, made this known in interview with newsmen in Geneva, Switzerland on the sideline of the 104th session of the International Labour Conference.
Ryder said that putting the recommendation into practice would help hundreds of millions of workers and economic units move out of the informal economy.
“I think it has been an important moment after two years of negotiations; the conference just adopted this recommendation on the transition from the informal to the formal economy.
“This is something, which affects a very large part of the world’s working population – nearly half is still working in informality. “And over the years, we’ve seen a growing consensus between governments, workers and employers that the right thing to do is to move these people in to formal employment situation.
“We know it is not easy; we know that these are processes, which are complicated; they have different components.
“And I think the great value of this recommendation – and it is the first time – is that we now have an international framework of guidance for member states on how to bring this about.
“It will be a very important instrument for the ILO as we work to cooperate with our member states to help them to bring this about.
“It is not just the adaptation of this recommendation now, it is actually putting this into practice that will matter.“
Ryder, who said that more than half of the world’s workforce was estimated to be trapped in the informal economy, described the development as the denial of their rights to work.
According to him, the absence of sufficient opportunities for quality employment, inadequate social protection, lack of social dialogue and low productivity constitute a significant obstacle to the development of sustainable enterprises. He said that the new recommendation acknowledged that most people entered the informal economy not by choice, but due to a lack of opportunities in the formal economy and an absence of any other means of livelihood.
He said that the new international labour standard would provide strategies and practical guidance on policies and measures that could facilitate the transition from the informal to the formal economy.
The ILO director-general said that the new labour standard would provide guidance for member states to facilitate the transition of workers and economic units from the informal to the formal economy.
He added that the development would encourage respect for workers’ fundamental rights and ensure opportunities for income, security, livelihoods and entrepreneurship.
“It will also promote the creation, preservation and sustainability of enterprises and decent jobs in the formal economy and the coherence of macro-economic.
“Others are employment, social protection and other social policies, and prevent the informalisation of formal economy jobs,“ he said
Ryder, who said that the recommendation was passed by 484 votes in its favour, added that it garnered outstanding support from ILO’s tripartite constituents.
He said that the adoption of the recommendation was a crucial step toward assisting countries to set up the necessary measures that would promote the creation of decent jobs and sustainable enterprises in the formal economy.
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