Business
Economic Dev: Centre Advocates Use Of Satellite Tech
The Centre for Satellite
Technology Development (CSTD), yesterday advocated the use of satellite technology in all sectors of Nigeria’s economy for sustainable development.
The Chief Executive Officer of CSTD, Dr Spencer Onuh, told newsmen that satellite technology remained the driving force behind most developed and developing economies.
According to him, since the establishment of the Space Agency in 1999, efforts by Nigeria to attain space capabilities have focused on research and rigorous space education.
He said that this had resulted to the design and manufacture of satellite instrumentation; software development; rockets or small satellites; satellite data acquisition; digital image processing; remote sensing and geo-information and communication technology.
He said that over time, space technology had become crucial to tackling global challenges in various countries and Nigeria could not afford to jettison the measures.
“World over satellite technology is being used to solve problems in different countries; there are scientific problems that cannot be solved on this earth except it is done in the space.
“A number of things have been discovered using space science and technology in the international space stations and Nigeria can do the same, especially in finding a permanent solution to malaria and other things.
“The issue of malaria is our problem it’s not a problem of the West, so why are we waiting for the West to solve it for us and charge in foreign currency?
“There’s no problem other international space stations are solving that Nigeria can’t do, it’s just that the use of satellite is not really encouraged in Nigeria and this affects the economy greatly.’’
According to Onuh, space based technologies such as earth observation satellite, communications satellite, meteorological satellite and global navigation satellite system played important roles in early warnings, disaster monitoring, assessment and management.
He said that there were many more satellite data and imageries and when put to use would aid Nigeria’s Communication, agricultural, educational and health sectors among others to solve their challenges and advance the sector.
“The MDAs that are the major drivers of the economy are not taking advantage of these; sometimes, they prefer to buy the same facilities from overseas even when they can get it here at a cheaper price.’’
He said that CSTD had the capacity to offer most of the services that were being sourced from foreign satellites and had been enlightening stakeholders about its products and services but were seldom used.
He said that it was regrettable that Nigerians preferred to import foreign satellites services even when they could source same within.
He warned that such trend, if not checked would impact negatively not only on the Nigerian space agency, but the economy at large.
He said that the country would continue to lose more resources to capital flight if the trend was not addressed.
He urged the Federal Government to mandate Ministries, Departments and Agencies (MDAs) to employ satellite technology in their day to day activities to boost the economy.
He said that there was an urgent need for MDAs to maximise satellite technology to enable Nigeria to expedite the resolution of its economic challenges for sustainable development.
Newsmen reports that CSTD, one of the six activity centres of the Nigerian National Space Research and Development Agency (NASRDA), is mandated to design and manufacture satellites.
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