Business
Customs Plans Waivers For Vehicle Importers
The Nigeria Customs Service (NCS) has disclosed its intention to grant waivers to vehicle owners to pay duties within a specific time frame to avoid sanctions.
The service disclosed this in a statement by the National Public Relations Officer of the service, Abdullahi Maiwada on Tuesday.
The Comptroller General of Customs (CGC), Adewale Adeniyi, said this when he presented the 2024 budget of the service to the Senate Committee on Customs in Abuja recently.
The Tide’s source had reported that in June 2023, NPA said the Lagos and Tincan Island Port Complexes and the Terminals, including Ikorodu Lighter Terminal, had 3,200 units of overtime cars and about 3,295 units of overtime containers, while the eastern ports have a combined total of 956 overtime containers.
Adeniyi, however, added that the planned move would regularise vehicle importation through payment of duties.
“We intend to grant waivers to vehicle owners to pay duties within a specific time to avoid sanctions and to regularise the importation of vehicles through payment of duties”, Adeniyi said.
The CGC also reiterated the need to support local production of food and ensure security, adding that the service planned to recruit only 1,600 personnel in 2024.
“The service plans to recruit 1,600 personnel in 2024. The low figure is due to the small vacancies we have available.
“These vacancies are primarily for junior staff that would carry out customs operations and guard duties. In subsequent years, more recruitment exercises would be carried out”, he stated.
Pledging to surpass the revenue target of N5.1tn in 2024, the customs boss said the revenue target for 2024 was 27.7 per cent higher than that of the previous year.
According to Adeniyi, the service had a shortfall of 12.6 per cent in its 2023 revenue target.
Giving reasons for the shortfall, he cited concessions in section 99 of the Common External Tariff, “import duty exemption certificates, cash crunch, general elections, and other factors affecting revenue generation negatively”.
He, however, expressed confidence for a positive outcome in 2024, and outlined strategies to achieve the 2024 target, including implementing the National Single Window championed by the Federal Ministry of Finance.
He harped on strategies to harmonise and standardise customs processes, port decongestion, “collaboration with other agencies for efficiency and competitiveness, anti-smuggling operations, integrating information and communication technology into operations, investing in capacity building, and stakeholder engagement, among others”.
While defending the 2024 budget of N706bn, he said the service would focus attention on consolidating carried-over projects, “increasing staff welfare by improving and motivating officers’ performance and integrating technologies into customs processes.
“Regarding officer’s welfare, they would be encouraged in various ways to increase efficiency and improve their well-being”..
He stated that this would be done through awards, promotions, and payment of allowances.
Earlier, the Chairman Senate Committee on Customs, Isa Jibrin, applauded the CG for the progress and success achieved in his brief tenure in office.
He charged Adeniyi to perform better as the house would support him in terms of remuneration and infrastructure to meet the 2024 target.
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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