Business
Fixed Charges: PH Electricity Consumers Hail Senate’s Resolution
Governor Nyesom Wike of Rivers State (left), with Julius Berger site Engineer, Emmafedo , briefing the governor on the level of work on Nkpolu-Rumuigbo road in Port Harcourt, during an inspection recently.
The resolution of the Senate to direct the Nigerian Electricity Regulatory Commission (NERC) to discontinue fixed charges being collected by Electricity distribution companies (DISCOs) from the consumers has been lauded by power consumers.
A Port Harcourt-based businessman, Elder Tombo Omubo, said such step was even long over-due in checking the excesses of the electricity firms.
Omubo who described fixed charges as another form of fraud which he said had increased undue economic pressure on the power consumers.
He listed fixed charges, estimated billing, and bulk metering as some of the corporate frauds committed by the DISCOs and expressed joy that the step taken by the Upper Chamber of the National Assembly would go a long way in abolishing such practices.
“In civilized practice, payment for services or goods go with corresponding value but the idea of one party in the transaction estimating what the other pays, is totally unacceptable and is tantamount to corporate fraud”, he stated, and wondered how such money collected under estimation could be accounted for.
Another consumer, Charity Ubani, said the step taken by the Senate was in the right direction and urged the lawmakers to always pursue issues that could ameliorate the sufferings of Nigerian masses.
Ubani said she travelled abroad for three months and that when she returned, she saw huge debt heaped on her in the name of fixed charges.
“I called my friend abroad and told her my experience. It is alien to any civilized practice. It is fraud. It is totally nonsense. I commend the Senate and urged them to ensure implementation of the resolution in the interest of Nigerians”, she said.
Also speaking on the issue, Emuka Julius commended the Senate for moving against fixed charges by DISCOs, saying it marks the beginning of a charge that is much desired.
Julius wants Senate not to stop at fixed charges as he rather wants the lawmakers to make it mandatory for DISCOs to provide meter for their customers to also check estimated billing.
He said the power firms had increased supply because of the seriousness of President Mohammadu Buhari unlike in the past administration. He alleged that the focus of the DISCOs was on profit maximization adding that in chasing profit, the firms undermined all ethics in business practice because appropriate agencies were not bold enough to check their excesses.
According to him, to get the sector fixed, members of NERC and top officials of the Ministry of Power should be probed, remarking that their actions in the past showed that their interest were never with the masses, but the power firms.
It would be recalled that the Senate, on Tuesday directed NERC to abolish the fixed charge on electricity bills as well as discontinue the practice of compulsory bulk metering of villages and communities in the rural areas.
Fixed charge was initially N225 when the Federal Government introduced prepaid meters, but today stands at N700.
The Tide gather that fixed charges are the component of the billing through which DISCOs replace damaged or faulty facilities as transformers, cables, feeders, amongst others, without bothering the consumer.
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