Business
NPC Moves To Check Financial Leakages
The National Planning
Commission (NPC) has said the policy thrust of the new administration would ensure inclusive growth in the economy by blocking financial leakages.
The Executive Secretary of the Commission, Mr Bassey Akpanyung, said this at the inauguration of the Joint Planning Committee (JPC) for the 21st Nigerian Economic Summit (NES21) in Abuja on Tuesday.
Akpanyung expressed optimism for the new administration to curb corruption and all leakages in the public services.
He said the 2015 conference to be held under the new administration would help articulate strategies that would ensure that Nigeria’s socio-economic environment was globally competitive.
According to him, the NES, organised annually by the Nigerian Economic Summit Group (NESG) and the National Planning Commission, had become the largest and prestigious economic forum for policy makers.
He said the NES had also brought together captains from the public and private sectors of the Nigerian economy, as well as representatives of the academia.
However, he said the summit would provide the opportunity for participants to interact and share thoughts on the challenges facing the Nigerian economy, with a view to solving them.
“The summit will provide a unique opportunity for participants to interact and share views to evolve a common strategy and policy framework for addressing key challenges facing the Nigerian economy.
“The efficacy of public private partnerships as exemplified by the platform has been proven in developed and emerging markets leading to unprecedented growth and development in leading countries of the world.
“Despite the numerous challenges facing the country, NESG and NPC have continued to partner in sustaining the needed public private dialogue for the good of our country,’’ he said.
He said the terms of reference for the committee were to review the report of the 20th NES and make preparatory arrangement for the successful hosting of the 21st NES.
Other objectives are to articulate the budgetary requirements, and source for funding for the hosting of the summit.
He said the committee would also propose the optimal strategy for funding the activities of the JPC.
He said it would prepare the report and Green Book for the NES21 within three months of the completion of the summit and mobilise relevant stakeholders for the summit.
He also said that the JPC would come up with a date that would be best accepted for the summit on a yearly basis.
Chief Executive Officer (CEO), Nigerian Economic Summit Group, Mr Laoye Jaiyeola, said the 21st edition of the meeting would be broadened compared to previous ones.
Jaiyeola said the meeting would comprise 10 policy commissions, adding that they would meet and look into existing policies and review them for better implementation.
“The group will monitor and make recommendations of the policies; the members of the policy were drawn from the Private, Public and Civil Society Organisation (CSO).’’ The annual NES was first inaugurated in 1993 by Dr Earnest Shonekan as a national platform to promote public private sector dialogue to accelerate national development.
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