Business
Reactions Trail New Concept For N’Delta Dev
More reactions have begun to trail the presentation of a new model for Niger Delta development which was unveiled last week in Port Harcourt, the Rivers state capital, by an indigenous firm, Star Delta Energy Services.
While some stakeholders embraced the concept as a strategy that would guarantee fairness, rapid development and peace in the oil-rich region, others stressed the need to spread the message to more of the oil producing communities whose consent is crucial in the ultimate implementation of the new concept.
It would be recalled that the Managing Director Star Delta Energy Services, Mr. Peter Junior Okocha, unveiled the firm’s “Special Purpose Vehicle” (SPV) which entails registration of companies by host communities in each of the Local Government Areas to enable them play the role of equal partners in oil and gas exploration and production.
He said SPV idea is aimed at giving the communities a medium to self determine its development by participating directly in project execution.
In his reaction, Secretary of the Niger Delta Youth Coalition (NDYC), Dr. Joe Amakiri, said “such idea which will make communities be in the board, take part in bidding for jobs alongside other firms in the oil and gas exploration and production is what the Niger Delta needs”.
According to Amakiri, “the challenge would have hinged on fund, but since the energy firm has assured of 50/50 ratio in both funding and to also provide needed expertise, that make the model viable”.
Also speaking in similar vein, the President of Concerned Minds of Niger Delta, Comrade Mathias Opusoh, said the SPV is a well-thought idea which can save the communities from the deceits of the multinational oil companies which present Memorandum of Understanding (MoU) as if that guarantees fairness and development in communities.
Opusoh said, “the SPV as a registered firm has the right to sue and be sued wherever any partner feels that his rights have been deprived. This is better that MoU that does not give the community to sue the oil multinations when deprived of their rights”.
However, South South Youth Consultative, Enlightenment and Mobilisation Council (SSYCEMOC), in its reaction affirmed that the SPV idea was a lofty one but stressed the need to sensitise the oil producing and oil bearing communities more on the issue.
Secretary of SSYCEMOC, Comrade Christian Nnodim, explained that the Council after examining the idea accepted it as a model that can save the region from militancy, marginalisation, deprivation, underdevelopment and ecological damage since the communities would be allowed to use their own companies to do those same things the multinationals are doing. “Since we are crying that the foreign firms are cheating us with the government, let us be involved directly in oil producing”.
“SPV is quite commendable, but let the message go round oil host communities in the region to enable them understand the concept very well before implementation otherwise, it will look like an urban agenda”, he said.
Nnodim explained that SPV presents a ray of hope even under the Land Use Act, remarking that employment and wealth creation would be properly addressed.
Chris Oluoh
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
