Business
NMMP Initiative: Local Manufacturers’ Displacement Plan Worries MAN
The Manufacturers Association of Nigeria (MAN) has raised concerns over the impending displacement of local meter manufacturers and assemblers in the phase II of the National Mass Metering Programme (NMMP).
MAN’s Director-General, Mr Segun Ajayi-Kadir, said this in Lagos, in reaction to government’s implementation process of the NMMP Phase II World Bank funded supply of 1.2million smart energy meters.
Ajayi-Kadir said the advertised financial requirements and technical specifications by the Transmission Company of Nigeria (TCN) appeared skewed against local manufacturers.
According to him, the requirements are stringent and negate the Central Bank of Nigeria (CBN) guidelines for the implementation of NMMP and portend grave danger for the power sector.
He stressed the need to guide against a repeat of the ugly scenario in 2012 where local manufacturers were sidelined in the meter supply and the nation was greeted with supply of substandard meters supplied by foreign companies.
Ajayi-Kadir stated that position of the TCN was that installation would provide employment opportunities.
He, however, noted that would completely pale into insignificance when compared with a ratio of jobs that would be created if local manufacturers were included in the scheme.
“In keeping with the Federal Government’s backward integration policy and the advent of the NMMP intervention, manufacturers have made huge investments in expansion of manufacturing capacities and trained highly skilled workforce to meet the demands of the power sector.
“The seeming intentional denial of the local manufacturers does not take into cognizance their sterling performance where they deployed and installed 611,231 energy meters across the country between 2019 and 2021.
“They also did same for one million energy meters across the country under the phase zero of the National Mass Metering Programme (NMMP).
“It should be recalled that our members have been denied the opportunity to fully execute the contract for the supply and installation of 4 million energy meters under the Phase 1 of the NMMP scheme.
“This was due to the unrealistic terms that arbitrarily fixed the contract prices far below the approved regulatory prices of energy meters in the country.
“Additionally, the contractual term of payment after the supply and installation of the meters have not be adhered to, thereby jeopardizing the financial capabilities of our members that participated in the scheme”, he said.
The MAN DG said the subsisting Executive Order 003 on patronage of made in Nigeria products which gives priority consideration to local businesses should be adhered to.
He said this should have made government interrogated the World Bank documents and actively consulted with Nigerian stakeholders in the sector with a view mainstreaming their inputs.
“As a nation that aspires to make progress and improve the well-being of its people, it is unconscionable that we continuously make the same mistakes.
“We counsel that the excellent constitutional amendment that enlisted power generation and transmission in the concurrent list, should be complemented with the liberalisation of the distribution end of the value chain.
“We are convinced that the liberalisation of the distribution end of the value chain will eradicate bottlenecks and give fillip to the efforts of government to bridge the metering gap and ensure just electricity billing regime”, 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