Business
‘Nigeria Must Stop Importing What It Has’
Zonal Coordinator, North Central, National Film and Video Censors Board, Mr Ailewon Danlami (L), presenting letter of partnership to Chief Imam of Jos, Sheik Lawan Adamu, during the Media Literacy Project and Sensitisation on Nigeria Movies to the public in Jos.With them is the administrative secretary, Jama’atu Nasril Islam Sheik Abdulaziz Yusuf.
The Emir of Kano, Alhaji
Muhammadu Sanusi II, on Saturday said Nigeria must stop importing what it has in order to boost local industries and create jobs.
The Emir stated this in Kaduna while inaugurating the new Council Secretariat of the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KACCIMA).
Sanusi said the current economic crisis induced by the crash in global oil price, should serve as a wake up call for the country to utilise its resources judiciously.
“Nigeria is full of experts in importing what we have and exporting what we do not have.
“We have cotton but we import textile materials from China; we have crude oil but we import fuel refined from our own crude from Russia and other countries.
“We have gas but we let it flare away instead of utilising it to produce power, yet import generators from outside.
“We eat our hides and skin and import shoes from outside, and we eat our tomatoes and import canned tomatoes paste from China.”
The Emir said things must change, and advised the Federal Government to give priority to education, industries, power and agriculture.
Sanusi noted that the textile industries in the past had employed more than 600, 000 people at a time.
He therefore advised industrialists to be in the vanguard of advising the administration on key directions to move the economy forward and always draw the attention of government when it derails from targeted national goals.
The Emir stressed that the persistent conflicts in the country were largely due to economic hardships and not religion or tribal sentiments.
He expressed the belief that the resuscitation of Nigeria’s industrial base would offer massive employment ant take off the streets, the huge number of idle youths used to foment crisis.
On the current economic hardship in the country, the Emir said Nigerians must be educated to appreciate that it was due to the low revenue accruing to government as a result of the fall in oil price.
“It is not possible to continue doing what you are doing when the price of oil was at $110 and now that it is selling at about $30.
“People ought to realise that the price of oil has bearing on the current hike in goods and services, and until things change, we must have to adjust our needs as a nation.”
Sanusi also spoke on the effect of smuggling on the nation’s economy and called for massive enlightenment to educate those involved on the harm they inflict on the wellbeing of the common man.
He called on religious leaders, to use their sermons in Mosques and Churches, to call for boycott of foreign goods and for patronage of Made-in-Nigeria products.
Earlier, the President of the Chamber, Dr Abdul Alimi-Bello, expressed the group’s appreciation to the Emir for his continuous support.
He disclosed that the chamber had set up a committee to establish a library on Nigeria’s economic potentials.
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