Business
Expert Presents New Module For N’Delta Dev
An energy expert has called for the introduction of an administrative system that would ensure that host communities of oil rich Niger Delta have direct ownership stakes in the resources exploited on their land.
The Managing Director, Star Delta Energy Services, Mr. Peter Okocha stated this on Saturday at a stakeholders interactive forum for Niger Delta held in Port Harcourt, the Rivers State capital.
Okocha, who was a guest speaker at the forum, said there was an urgent need for a system that would guarantee host community’s direct involvement, as stakeholders in every facet of its resource exploitation, optimal standard and adherence of hest practices.
In his paper titled, “Balancing the scales”, the Managing Director presented a new module called ‘Special purpose Vehicle ‘ (SPV) which he said, entails the registration of company by host communities in each local government to play as equal partners in oil and gas exploration and production.
Okocha said: ‘As each state in the Niger Delta is made up of several local government areas, which if further dissected, comprises of several communities; each community within the LGA will produce a shareholder representative that will represent the community as director in the registered company.
“The aim of the SPV is to give the communities a medium to self determine its development by having a vehicle to participate in projects executed in its communities, and also create and manage its own projects”.
Explaining further, he said the SPV, as a registered company would give communities the rights to sue and have recourse in all agreement it enters, as opposed to the MoU which by nature is not designed to be legally binding.
According to him the new concept would guarantee equitable assets redistribution, environmental remediation and expanded employment opportunities for the people.
Reacting to funding, he said Star Delta Energy has the reach to provide expertise, fund and other needed logistics in a ratio of 50/50 sharing formular with host communities that partners with the firm.
He disclosed that the company have consulted several community leaders across the region and that some communities have already endosed the idea hence the need to present it to the public.
Participants from various communities across the region hailed the concept and promised to reach out to the areas they represented. All present at the event endorsed the new module.
Chief Dr. Bob Nabina, from Bayelsa State laid the initiative noting that it has capacity to bring peace and development to the people.
He stressed the need for wider consultation with the people and expressed confidence that the initiative would also have wide acceptance.
The President of Concerned Minds of Niger Delta, Comrade Mathias Opusoh decried the high level of suffering in the region and viewed the vision as a strategy that could address the poverty and injustice in the land.
His Royal Majesty King Alfred Diete Spiff, Amayanabo of Iwon Brass, said there was need for stakeholders to always think of new ideas to address our challenges.
Spiff who was chairman of the event lauded Star Delta energy as a firm with capacity and readniness to develop the region.
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
