Business
Plateau To Boost IGR Via Agric, Mining
Governor Simon
Lalong of Plateau State said the state government had developed strategies to boost its Internally Generated Revenue (IGR) through agriculture, mining and other investment opportunities in the state.
Fielding questions from newsmen in Abuja, the governor said that the state government was determined to leverage on the abundant natural resources in the state to overcome the continuous recourse to the federation account for funds.
Lalong said that his administration had also evolved a process of harmonizing all revenue laws to improve on its IGR after understudying the experiences in such as Lagos and Ogun.
He stated that the government had repositioned the state’s owned outfit, Agricultural Services and Training Centres (ASTCs) and encouraged farmers in the state to generate revenue from agriculture.
According to him, the state may not be coming back to the federation account for allocation with measures put in place to revamp agriculture and solid mineral.
“To the plateau farmer, I think there is great hope for him in agriculture; first we have FADAMA I, we have FADAMA II and when I came in, I introduced FADAMA III.
“The FADAMA I and FADAMA II, what I saw was that it was neglected in terms of counterpart funding; the past government was just paying lip service to it.
“All you needed is pay your counterpart funding and you see a lot of things happening.
“What I did was that I paid my counterpart funding for FADAMA I and II and when the concept for the FADMA III came, I went into it and we are paying the FADAMA III now.
“The last one is that we had the opportunity to be among the states that were selected for production of rice and wheat. You know the rice you get on the plateau is usually the best rice you can get all over the country.”
Lalong disclosed that the state government would commence the distribution of fertiliser to farmers by next week to enable them to start farming early.
According to him, through FADAMA, we have established an agricultural microfinance bank to assist farmers if there are difficulties in getting loans from commercial banks to facilitate their agricultural activities.
On mining, Lalong said that his administration would take advantage of the opportunities presented by the availability of mineral deposits in the state to create jobs for its youths.
He said that virtually every part of the state had mineral deposits, adding that the state would partner with the Federal Government to get mining license for the interested investors.
According to him, if things are done properly, Plateau will benefit from it and can increase its revenue target from N500 million to about N2 billion.
“The policy of the Federal Government now under President Buhari is to really focus on mining and how it is going to be useful to the communities where you have the mining exercise.
“We have done that and we are working in line with the Federal Ministry of Environment for that.
“Recently, in one of my local governments, people were trying to smuggle some minerals but we have fortified, we have enough security to ensure the security of the place.
“Mining is not seen like what we used to see before where you are working and you are seeing illegal miners here and there, but today it is like petrol to Nigeria and if it is like petrol, we are also guarding it jealously.”
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