Ict/Telecom
FG Kicks Off Data Registry, Info System In Abuja
The Head of Implementation, Basic Registry and Information System in Nigeria (BRISIN), Dr Anthony Uwa says the Federal Government is committed to the implementation of the project as it commences the pilot project in FCT.
Uwa said in Abuja that the Federal Government and the service provider of BRISIN, Dermo Impex had carried out awareness campaigns on the project.
BRISIN is an integrated system for the collection, storage and distribution of information to support the management of the economy.
The Federal Government had approved the implementation of the project which would be carried out by an Italian based Information and Communication Technology Company, Dermo Impex.
He said that BRISIN had started with sensitisation and workshop on disability.
“The second leg of the project is the official flag off. At the official flag off, the field work will start, that is the really implementation.
“All the necessary logistic needs to be prepared before the flag off, that is why we have met with stakeholders to make sure that BRISIN is implemented.
“It is the responsibility of the FCT to provide funding, then, they are going to provide provisional office for the flag off and implementation before BRISIN centres are built.
“The Federal Government has asked us to look at the possibility of seeking funds from Nigerian citizens and international organisations, mostly because of this aspect that has to do with the disability.
“Disability is not an area that investors will put their money, they need a lot of donors and sympathetic help that comes,” the coordinator said.
Uwa, however, said that the implementation team would mobilise resources to start the project, using few investors who are ready to support the project.
According to him, BRISIN is a programme that will take over 10 to 15 years across the country.
“BRISIN will be inaugurated in FCT soon; by the end of this year, we would have completed the implementation mostly the structure and building, if funds are readily available.
“We have held two strategic meetings; we will be working with three major agencies – National Population Commission, Federal Inland Revenue Service and National Bureau of Statistics first.
“All the milestone needs to be determined by these people, real data on demographic and with the provision of security number.
” So, that is the reason we needed these agencies to be part and parcel of the implementation even with disability data bank.
“I am assuring you that immediately we start, we will not stop. FCT could take six months, if actually fully funded so we should get the FCT pilot project right.”
In addition, he said that the two meetings held in May with the stakeholders were to re-strategised on the implementation as agreed by the Federal Government.
“Federal Government said that FCT should provide the structures, mostly operational office for flag off – where BRISIN will take off with disability data capture.
“Then, it will also provide land for BRISIN centres from the wards to council areas and to the states.
“The second meeting took place and the result of the meeting was so impressing, it showed that it was time for us to move forward,” the official said.
The Tide source reports that no fewer than 9,822 servers will be installed in all the wards, local governments and states in the country as part of the project implementation.
The service provider will install one server in each of the 8,812 wards in Nigeria and move up to the 774 local governments headquarters.
BRISIN was initiated by the President Olusegun Obasanjo administration, while the Goodluck Jonathan’s administration inaugurated a Technical Committee for its implementation.
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter