Business
Ambode Wants Private Sector Collaboration To Improve Electricity Supply
Governor Akinwunmi
Ambode of Lagos State called for private sector collaboration to make electricity more available for domestic and business purposes in the state, to achieve economic growth and development.
Ambode made the call at the inauguration of the Advisory Committee for the ‘Light Up Lagos Initiative’ at the Lagos House, Alausa Ikeja.
He said that the energy requirement for Lagos State was estimated at 5,000 megawatts, of which only about 1,000 megawatts was supplied.
“It is common knowledge that power supply is a major challenge we must address to achieve sustainable economic growth and development in the country and Lagos in particular.
“A mere 10 per cent improvement in power supply will directly increase the GDP of Lagos State by 20 per cent.
“Lagos State is more affected by the poor state of power supply because it accounts for over 60 per cent of the industrial and commercial activities in Nigeria.
“Our greatest impediments today are the low or non-investment in transmission capacity and high loss rate between generation and distribution.
“This administration has considered it expedient to constitute an advisory Committee on Power to guide in the development of a roadmap for reliable power supply in Lagos and foster collaboration between government and the private sector,” he said.
Ambode said that the ‘Light Up Lagos Initiative’, also encouraged individuals, private homes and corporate organisations to take up streets and roads of their choices and light them up.
He said that they could light the streets up with connections to their meters or generators.
The governor said that in return, government would make concessions to such individuals and corporate organisations in the payment of their annual Land Use Charges.
“In addition, they shall receive special commendation letters from the Governor,’’ he said.
Also speaking, the Commissioner for Energy and Mineral Resources, Mr Wale Oluwo, said that the reform and upgrade of the power sector to ensure adequate power supply in the state prompted the inauguration of the committee.
“The state government must move to the next level of powering itself and this cannot be achieved without the collaboration of the private sector,” Oluwo said.
In his remarks, Mr Tope Shonubi, a representative of Ikeja Distribution Company, who also spoke on behalf of the committee, appreciated Gov. Ambode for involving the private sector in the initiative.
“We can blame the state of power supply on the fact that the generation, distribution and transmission companies have failed.
“We appreciate the governor for bringing the private sector and the government together to address the problem of power supply in the state.
“And one of the fruits of this collaboration is that the Egbin Power Plant will, from Jan. 12, 2016, generate 1,220 mega watts, of which 220 will be directed to Lagos State,” he said.
The News Agency of Nigeria (NAN) reports that the Light Up Lagos advisory committee is headed by the Deputy Governor, Dr Idiat Adebule.
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