Business
Nigerian Ship Owners Partner Greeks On Ship Building
The Nigerian Ship Owners Association (NISA) yesterday said it had sealeda partnership with Ship owners from Greece to bring in 40 vessels.
NISA President Niyi Labinjo, disclosed this during a meeting held in Lagos between NISA and ship owners from Greece.
Labinjo said that the ships, which will be of various classes and tonnage, would eventually belong to the indigenous ship owners within two years.
“We have signed the agreement between us and Greeks and Nigeria will acquire the 40 ships in not less than 24 months.
“NISA is providing a platform for younger and unborn generations and I wish the ships will be growing from 40 to 60 and to 100.
“A total of 600 vessels are operating on oil and gas; and only 10 per cent belongs to Nigerians as at 2015,” Labinjo said.
He said that if the number one priority was being given to Cabotage (coastal trade), the maritime industry would sustain Nigeria’s economy.
The NISA chief commended President Muhammadu Buhari’s commitment to Cabotage by urging both NISA and shipping lines to absorb the `teeming’ youth.
“Nigeria can make between N3 trilliom to N7 trillion annually through the maritime industry.
“This can also produce five million jobs compared to aviation which is producing N21 billion annually,” he said.
In a message to the meeting, Dr Patrick Akpobolokemi, the Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), said the agency was established to regulate the industry within the rules and regulations of the law.
Akpobolokemi, who was represented by Mr Callistus Nwabueze, Executive Director, Maritime Labour and Cabotage Services, urged members of NISA to submit themselves to the regulation power of NIMASA, saying that they should take it as Nigerian laws.
The Permanent Secretary, Federal Ministry of Transport, Alhaji Mohammed Bashar, said President Buhari had constituted a National Economic Council which had put NIMASA and Nigerian Ports Authority on the front line of Nigerian business.
“This shows that a new dawn has just come in the industry.
“Government will pay more attention to the maritime industry. “Past governments had been able to put in place polices and law in spite of hardship experienced by the maritime operators.
“This event has shown that NISA is coming of age by coming up with Cabotage Vessel Financing Fund (CVFF) to enable ship owners to have access to fund to flourish in their business,” Bashar said.
He said that maritime industry had achieved tremendous success on the establishment of Maritime Academy, Maritime University as well as sending Nigerian youths abroad on seafaring training.
Also speaking, the Nigerian Ambassador to Greece, Mr Lawrence Ayodeji, said that he facilitated the partnership to enable Nigeria flourish in entrepreneurship.
The Representative of Greek Ship Owners, Mr Constantine Kokkos, said that their meeting with the Nigerian Ambassador to Greece facilitated the partnership.
“We will start with building shipyard and government will assist because we have to create jobs for Nigerians.
“We are going to establish a college where we will train Nigerians,” Kokkos said.
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