Business
Group Honours NNPC GMD For Growing Economy
Finance Correspondents of Nigeria (FICAN) on Thursday lauded the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, “for growing the economy with transparency and integrity.”
The Chairman of FICAN, Mr Simeon Ogoegbulem, while presenting the FICAN 2017 Special Institution of the Year Award to Baru, said FICAN’s 20th anniversary celebration was recognising and rewarding corporate organisations and individuals who made positive impacts on the economy.
Ogoegbulem said “one of them, if not the most important, is the NNPC boss.
“This is because, under the leadership of Dr Baru, there has been stable, constant and uninterrupted supply and distribution of petroleum products across the country, with the reduction of pump price of petrol from N145 to N140 per litre, which saved some money for motorists.
“NNPC has instituted and sustained transparency and accountability in the management of the corporation’s finances, ensured monthly publication of NNPC accounts and stemmed corrupt practices often associated with contract award processes.”
The FICAN chairman also lauded the NNPC for sectorial exit from the Joint Venture Cash-Call arrangement and for opening new options for sustainable Joint Venture funding.
“The award is because NNPC is currently no longer seen as ‘business as usual’ government agency, but as serious business enterprise with industry-focused reforms for the good of the corporation and the nation.
“Few weeks ago, Dr Baru inaugurated NNPC anti-corruption and transparency unit. This is very commendable and in line with the mood of the nation.”
He also commended Baru for ensuring that the Finance and Accounts Directorate of the Corporation responded to the demands of NEITI, FAAC, Public Accounts Committees of the National Assembly and other stakeholders for financial data.
He added that “your media team responds quickly to questions and enquiries from journalists and other people seeking information about NNPC.
“Recently, an international firm adjudged NNPC’s social media platform as the best in the public sector.”
Responding, Baru said the award signified that the watchdog of the society was paying attention to the several ongoing reforms of the NNPC.
He said running the NNPC with transparency and accountability was a must and not a wish, adding that the corporation was FACTI-based meaning a Factual, Accountable, Competitive and Transparent organisation doing its business with integrity.
“To be transparent and accountable is much easier than to do otherwise.
“The designation of NNPC as FACTI organisation has made us to achieve our goal of ensuring availability of petroleum products to Nigerians with the support of in-house unions.
“We have also been able to curtail disruptions in the supply of petroleum products.”
He commended the media for sustained and consistent support to the NNPC in the reportage of its activities and urged it to keep up with the campaign against pipeline vandalism.
He added that “media campaigns have helped to reduce incidences of pipeline vandalism across the country.
“As watchdog of the society, we appreciate your efforts and we are always available to give you the needed information you require to publish your stories.
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