Business
FG Establishes 9 Warehouses To Curb Post Harvest Losses
The Federal Government said it would install nine unconventional warehouses to further curb post harvest losses before the end of the year, an official said on Monday.
The Director, Strategic Grain Reserve, Federal Ministry of Agriculture Dr. Jide Olumeko made this known in an interview with newsmen in Abuja recently.
He said that the warehouses would preserve vegetables and tuber crops that were presently not factored in the ongoing transformation in the silos in the country.
Olumeko said that the silos complexes in Nigeria were used to store grains like paddy rice, maize, millet and soybean, among others.
According to him, silos complexes do not take care of the perishable crops like tuber crops and vegetables.
He said that scientists had put post harvest loses for grains at 20 per cent, fruits and vegetable at 60 per cent and tubers at 50 per cent; “these are very high cost economically’’.
“We have another programme in the strategic grains reserve that will take care of them and they are called unconventional warehouses.
“We are planning to install them before the end of the year.
“We are planning to have those warehouses where we are able to control the humidity and increase the share life of commodities.
“We have nine that are coming up that will be located in nine pilot states based on their comparative advantages before the end of this year,’’ he said.
Olumeko told our source that the department would also give information to farmers through their mobile phones on how to prevent post harvest loses.
He said that the Staple Crop Processing Zone (SCPZs) were also created to further reduce post harvest loses.
The director said 20 of the 33 silos complexes in the country meet international standards, saying that they had modern designs and could be monitored through computers.
Olumeko put the capacity of silos complexes in the country when fully operational at about 1.406 million tonnes, saying that it would require about N110 billion to stock them.
He said the budget allocation for the entire agric sector in 2014 was only N37billion, saying that government alone could not fund the stocking of the produce.
He said that the silos would be released on concession to involve the private sector.
Olumeko told said that the current capacity utilisation of the silos was between four to five per cent, which he described as “grossly under-utilisation’’.
The director that said with the involvement of the private sector, it would upgrade the utilisation capacity to between 90 and 100 per cent.
He disclosed that the Strategic Grains Reserve was partnering with the Infrastructure Concession Regulatory Commission, World Bank and the Federal Ministry of Finance to ensure the concession of silos to the private sector.
He said that the ministry was committed to implementing international best practices as it was set to ensure minimum price profitability for farmers who would store their grains.
Business
MoneyPoint Empowers Pharmacists With Payment Solutions
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
Business
Embrace AI, CIIN Urges Insurance Operators
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.
Business
NASRDA Reassures On Strengthening Nigeria’s Space Capability
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