Business
‘Apapa Customs Exported Goods Worth N272.3bn In Six Months’
Apapa command of the Nigeria Customs Service (NCS) has said that it has facilitated the export of goods worth N272.3 billion through the Apapa port in the first six months of 2021.
The Customs Area Comptroller, Apapa Customs command, Comptroller Yusuf Malanta Ibrahim, disclosed this at a press briefing in Lagos on Wednesday.
He stated that the exports included agricultural goods such as sesame seed, ginger, hibiscus flower and other mineral resources.
Ibrahim disclosed that the total tonnage of the said export stood at 1.6 million tones with Freight On Board (FOB) value of $103 billion.
He said that the command took a giant stride in the month of June which yielded an outstanding result in her revenue generation saying, “we are therefore motivated even to do more and more in the next coming months”.
The CAC hinted that the command collected revenue worth N78.4 billion in the month of June 2021, which clearly showed an increase of over 90 percent when compared to the N42.4 billion collected in the corresponding month under review.
He noted that the sustained anti-smuggling campaign of the command and the increased level of compliance had resulted in reduction of smuggling activities throughout the command.
He disclosed further that, for the period under review, the command recorded 10 seizures of various uncustoms goods such as tomato paste, used clothing, unregistered pharmaceutical drugs, among others, with a Duty Paid Value (DPV) of N442 million.
According to him, “This unprecedented record is a great validation of our new approach to revenue drive. It is also fitting to emphasise here that this volume of revenue has never been recorded in the history of the flagship command of the Nigeria Customs Service.
“Consequent upon the above and in line with the provision of extant laws, trade guidelines and enforcement of Government Fiscal Policy, the command was able to strengthen its anti-smuggling operation against economic saboteurs through timely credible intelligence driven network, which led to the seizure of 46 containers between January-June 2021 with Duty Paid Value of N27.6 billion. All these importations are contrary to the provision of sections 46 and 47of Customs and Excise Management Act CAP C45 LFN 2004 and Customs and Excise Notices No.1491”.
The Comptroller further stated that the command collected a total of N366 billion for the half year, January–June 2021 which represents 61 percent increase when compared to the N227 billion collected in the first half of 2020.
“This spectacular achievement was made possible by our officers’ resilience and commitment in ensuring collections of appropriate revenue, robust stakeholders’ engagement and seamless facilitation of compliant trade”, he added.
“On this note and on behalf of the officers and men of the command, I would like to extend my profound appreciation to the Comptroller-General of Customs and his management team for the opportunity, trust, support and encouragement given to us in the course of discharging our responsibilities.
“Finally, I want to use this medium to urge all importers, exporters, customs brokers and freight forwarders to imbibe the culture of compliance as part of their standard operating procedure because it will reduce the time and cost of doing business”, he said.
By: Nkpemenyie Mcdominic, Lagos
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