Business
DPR Mulls Upward Review Of Licence Fees For Oil Marketers
The Department of Petroleum Resources (DPR) said on Wednesday that it was considering a review of filling station licence fees for oil marketers and operators in the oil and gas industry.
The Zonal Controller of Operation, DPR, Mr Mohammed Usman, stated this in Abuja on Wednesday during an interactive session with independent and major oil marketers at the DPR and oil Marketers Annual General Meeting.
Usman said that the fees for licences for filling stations owner was the lowest in all business enterprises operating in Nigeria.
He said they paid N30,000 for two years.
“If those that are selling potatoes heard that it is N30,000 we are charging the filling stations as licence fees for two years, I am sure they will want to lynch us.
“Therefore DPR is considering upward review of the fees,” he said.
He, however, said that the agency would increase the tenure of the licence from two to five years so that it would be more convenient for the station owners.
Earlier, the Vice-President, Independent Marketers Association of Nigeria, Alhaji Abubakar Shetima, urged the DPR to review the lifespan of the licence from two to five years.
Shetima also called on the agency to ensure that the petroleum products tank farm owners did not sell refined products above the official price.
“In most of the places where we buy this product at the tank farm price, they sell above stipulated rate and when we bring this to our various stations we encountered difficulties in selling.
“We want the DPR to look into this problem, especially as regards Premium Motor Spirit and kerosene.
“They sell the fuel to us at the rate of between N80 and N81 instead of N77.66k so that when we come to our filling stations, we sell at the official rate. “
A representative of major marketers, Wasiu Alade from Oando, said the marketers found it tough to cope with the recent reduction of pump price of petrol from N97 to N87.
“It was tough for the major marketers to comply with the new pump price of N87 but we did comply.
“We are equally having discussion with Nigerian National Petroleum Corporation (NNPC) and Pipeline Products Marketing Company, as regards reimbursement but we have not received positive response from them.
“It is a heavy blow for us in the new calendar year; it has already affected our operations.
“We never found it funny but we don’t have options than to comply in order not to sabotage government efforts,” he said.
R-L: Chairman of the ocassion, Chief S. A. Idasefiema, Representative from Ministry of Commerce and Industry, Mr Sunday Edum and Guest at the launching of Yiinu Kpeam Cooperation Investment and Credit Society at Kono Water front in Khana Local Government Area, Rivers State. Photo: Nwiueh Donatus Ken
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