Business
FG, USAID Launch New PPP Projects
The Federal Government and the United States Agency for International Development (USAID) have launched two new private sector-driven partnerships with local agribusinesses – Babban Gona and Hello Tractor, aimed at diversifying the economy and the development of Nigeria’s agriculture sector.
The project, launched by the Minister of Agriculture, Chief Audu Ogbeh, recently, highlights the US Government’s interest in helping Nigeria develop its agricultural potential, and boost the nation’s economy for the mutual benefit of both countries.
Ogbeh said that the initiative was in line with the Federal Government’s policy of using agriculture to boost economic revival through diversification aimed at creating employment and eradicating poverty.
Under the $2 million, two-year partnership, anticipated results include increased access to smart tractors, improved seeds, and profitable markets for over 45,000 smallholder farmers across seven states and the Federal Capital Territory.
Speaking during the ceremony at the US Embassy, Deputy Chief of Mission, Maria E. Brewer, described the partnership as a co-investment in public goods.
“Innovation and entrepreneurship hold the key to unlocking Nigeria’s agriculture potential, and the U.S. government will continue to provide support in this direction,” Brewer said.
The Tide gathered that under the Feed the Future initiative, the USAID partners with the private sector to support smallholder farmers in Nigeria.
Through these partnerships, USAID addresses development and business challenges by increasing access to improved agricultural inputs and mechanization, better quality technical advisory services, and expanding market opportunities for smallholder farmers.
These partnerships capitalize on the untapped potential of youth in agriculture and help build the capacity of young entrepreneurs to help grow their businesses, create secure jobs, and boost economic growth in Nigeria.
The Tide also learnt that the core targets of Babban Gona are to address the challenge of smallholder farmers by forming strong cooperatives called Trust Groups, which enable maize, rice, and soybean farmers to gain access to new markets and sell at premium prices.
Babban Gona further provides member farmers with services designed to optimize crop yields, production costs, and prices of agricultural outputs.
This business model helps to increase profitability of smallholder farmers and contributes to household food security and improved livelihoods.
It was gathered that through the partnership with USAID, Babban Gona will create positive impact for 20,000 smallholder farmers.
The Tide further learnt that Hello Tractor works to improve the need among smallholder farmers for consistent and sustainable mechanization services.
In line with that objective, Hello Tractor designed a versatile Smart Tractor with eight attachments to serve their needs throughout the farm production cycle.
Each tractor is fitted with technologies, which enable Hello Tractor to pair farmers in need of services with a Smart Tractor owner nearby via text messaging.
The technology allows small landowners access to affordable tractor services to increase their productivity, while Smart Tractor owners are given the opportunity to earn additional income with their machine.
Through the partnership with USAID, 24,500 smallholder farmers will gain access to tractor services.
The partnership expects to train 100 youth entrepreneurs on the business of owning and maintaining a fleet of Smart Tractors.
In addition, some 15 young technicians will benefit from trade skills to repair Smart Tractors.
Similarly, USAID partners to end extreme poverty and promotes resilient, democratic societies, while advancing security and prosperity.
In its partnership with Nigeria, the United States through USAID strengthens social stability with improved social services, supports transparent and accountable governance, promotes a more market-oriented economy, and enhances the country’s capacity as a responsible regional and trade partner.
It would be recalled that Feed the Future is a US Government policy born out of the belief that global hunger is solvable.
As the U.S. government’s global hunger and food security initiative, Feed the Future is transforming lives toward a world where people no longer face the agony and injustice of extreme poverty,
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
