Business
South Korea Completes Bida Rice Mill, Sept
The Korean International
Cooperation Agency (KOICA) has said that it would complete its rice mill project in Bida and hand over same to the Federal Government in September.
KOICA’s Country Director, Mr Jung Sang-hoon, told The Tide source in Abuja last Tuesday that the project was initiated in 2007, but was halted for a while due to technical challenges the company had.
According to him, operation resumed at the site of the project in 2013 and is presently 90 per cent complete.
“Your current government is stressing on the importance of agriculture and the modernisation of the agriculture sector.
“We (KOICA) have several projects; we have rice processing centre in Bida, and cassava processing centres in Kogi, Enugu and Ogun states.
“In case of the rice processing project, the delays came from our side; we were unable to find alternative replacements (contracting companies).
“In 2012, when I came, I made some reports.
“My new approach at the time was to find collective association of agriculture machinery production companies; they followed my advice and were able to resume.
“Now the process became very swift and prompt; virtually 90 per cent has been finished and recently, Korean technical experts installed machineries and their Nigerian counterparts were also there to learn.
“Within September, I believe it will be finished.“
Jung said KOICA was currently working closely with the Federal Ministry of Agriculture and Rural Development and the Niger State Government on the project.
According to the country director, the agency has budgeted 1.8 million dollars (or N357,749,754.05) for the execution of the project while the Federal Government has set aside N41.3 million for the same purpose.
He said in 2008 KOICA and the National Food Reserve Agency signed the relevant documents that would inaugurate the project.
Jung also said that KOICA and the National Poverty Eradication Programme (NAPEP) signed an agreement for the establishment of cassava mills in Enugu, Ogun, and Kogi states.
He said: “Unfortunately, the cassava mills project has not been implemented as we planned because of the delay in customs clearance on the side of Nigeria.
“KOICA is a government organisation and cannot hold the money down if we cannot justify
the reasons for doing so.
“So, we had no choice but to cancel the project because we could not justify the delay.
“The partner for that project was NAPEP which has been scrapped and we have no partners to use the funds at this stage.“
He said KOICA allocated 1.6 million dollars to the project while the Kogi Government and NAPEP allocated an additional 600 thousand dollars.
He said the Enugu and Ogun governments were yet to provide their counterpart funds.
He, therefore, urged the Federal Government to do all that was necessary to revive the project.
“On our side, I think we have adequately invested and would say this is a loss for the Nigerian government also.
“I think the government authorities should let us utilise the available funds by getting the contract and this can be done in one year,“ he said.
He said the cassava mill project has been extended to 2016.
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