Business
‘Multiple Taxation Hinders Tourism Dev’
L-R: Antiquities Vendor, Mr Umaru Yusuf, Director of Museum, National Commission for Museums and Monuments (NCMM), Ms Rosemary Bodam, Director-General, NCMM, Mr Abdallah Usman and Minister of Culture, Tourism and National Orientation, Chief Edem Duke, at the presentation of payment advice to antiquities vendors in Abuja last Friday
The Federation of Tourism Association of Nigeria (FTAN) said last Tuesday that multiple taxation and high bills were among the factors hindering development of tourism.
Chief Tomi Akingbogun, the association’s President, disclosed this at the second edition of the Nigeria Tourism Investors Forum and Exhibition for 2014.
Akingbogun said taxes and bills demanded by different agencies under different names and tags were not helping the growth of the sector.
According to him, most organisations and companies can barely survive after paying the various bills.
“Same bills are demanded in different titles, like the staff monthly pension, medical insurance, five per cent VAT, guest parking, water and vehicle dustbin bill by local government.
“COSON asking hotels, night clubs and restaurants to pay N1 to N2 billion for music played on Paid-TV (DSTV), ITF and NSITF, one per cent for staff monthly emoluments,” he said.
He said NIPOST was planning to introduce stamp duties of N50 for every N1000 sales.
“These are just some of the economically unrealistic bills that businesses have to contend with,” he added.
He said the use of mobile courts to seal business premises, lack of patronage from government and prominent people were also making it difficult for tourism to flourish.
“The public are not left behind in the neglect of Nigeria tourism investments, wedding s for Nigerian couples are now taken abroad to show affluence,” Akingbogun said.
The FTAN president called on the National Orientation Agency to do more to sensitise Nigerians to the tourism potential of the country.
He called on Nigerians to patronise home-made goods and the country’s tourism destinations.
The FCT Minister of State, Oloye Olajumoke Akinjide, in her paper entitled “FCT as an Emerging Conference Destination’, said “tourism creates entrepreneurial opportunities and brings development”.
Akinjide, who was represented by Mrs Adebola Elegbede, Director, Tourism and Social Development, said tourism had a significant multiplier effect on other sectors of the economy.
“Beyond its value as a foreign exchange earner, tourism brings significant impetus to the development agenda, and it is a great marketing vehicle for a nation’s culture, its products and people.
“Culturally, tourism enables people from different backgrounds to enjoy and celebrate their diversity.
“In addition, tourism facilities can be important catalysts for and components of regeneration that improve areas both for residents and tourists,” she said.
Akinjide said it was the strategic place that tourism enjoyed with the FCT that led to the inauguration of the National Institute for Hospitality and Tourism to produce the FCT Tourism Policy and Master Plan.
Akinjide said the aim of this was to produce a professionally thought out framework to increase the contribution of tourism to the economy of FCT.
The minister assured FTAN that all the issues raised concerning multiple taxation would be looked into by the FCT administration.
She commended the tenacity of the Hotels Owners Forum and FTAN in bringing to the fore those issues that inhibit the promotion of tourism in the nation’s capital.
She said that the administration partners with them and other stakeholders to provide conducive and enabling environment to promote tourism in the FCT.
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