Business
FG, UN Target $5bn Annually For Poverty Alleviation
The Federal Government and the United Nations, and other development partners, are to raise $5billion annually for Nigeria’s Humanitarian and Poverty Alleviation Trust Fund.
Nigeria’s Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, who disclosed this, midweek, during a humanitarian coordination meeting at the United Nations House, Abuja, while engaging ambassadors, UN agencies, NGOs, etc, on their commitment to humanitarian crises in Nigeria, said the stakeholders are also committed to a coordinated approach and durable solutions for humanitarian response in Nigeria.
A statement from the Ministry said at the meeting, the honourable Minister engaged ambassadors, UN agencies, NGOs, etc, on their commitment to humanitarian crises in Nigeria.
“The meeting, which was at the instance of the minister, brought all the humanitarian responders in Nigeria under one roof, where they all committed to a durable, smart, and coordinated approach to humanitarian response.
“Part of the resolutions of the meeting was the commitment to raise $5bn annually for the Humanitarian Affairs and Poverty Alleviation Trust Fund in Nigeria, by the Federal Government, other countries, private sector, donor agencies, and the development partners”, the ministry stated in the statement.
Edu conveyed President Bola Tinubu’s appreciation to the United Nations agencies and development partners for their contributions to easing humanitarian challenges in Nigeria.
She, however, stressed that the era of uncoordinated, unaccountable, and silotic approaches to humanitarian response in Nigeria was over.
“President Bola Tinubu does appreciate the effort of the UN agencies and other organisations that are working in the humanitarian space, but we just need to bring this effort in a more coordinated manner so that we can achieve more, especially in the face of dwindling resources.
“There is a need for the government to take the lead and properly coordinate. The days of uncoordinated responses to the humanitarian crisis in Nigeria should be over.
“The days of operating in silos and duplicating efforts that lead to wastage, among other things, should be over. The government must take the lead to coordinate, to ensure that we are first in line with government priorities, and then secondly, we are meeting our targets”, she stated.
She emphasised the Federal Government’s commitment to reduce, prevent, mitigate, and respond adequately to the humanitarian crisis in Nigeria in a more coordinated manner, thereby reducing poverty by 50 per cent.
Speaking, the United Nations Resident and Humanitarian Coordinator for Nigeria, Matthias Schmale, who spoke on behalf of UN agencies, expressed support for the government in its effort to tackle humanitarian challenges.
“We’ve heard very clearly from you that humanitarian needs span the rest of the country. We are here as United Nations agencies to support in ensuring proper coordination, develop review and implementation response plan, mobilise resources for country response, as well as align to the Federal Government priorities”, he said.
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
