Business
‘Nigeria Requires Innovation To Drive Job Creation Agenda’
The Minister of Employ
ment and Labour, Dr Chris Ngige, says the country requires innovation that will drive the government’s diversification and job creation agenda.
He said this recently in Lagos during a factory tour of Erisco Foods Ltd in Lagos.
According to him, the innovation and diversification activities of Erisco Foods have increased job creation in the agricultural sector of the economy.
“We commend this great feat in manufacturing which is wholly Nigerian.
“The Nigerian economy needs this kind of innovation and diversification which has led to job creation in the agricultural sector.”
He lauded the management and urged it to ensure compliance with labour related matters, occupational, health and safety standards and statutory obligations.
The minister was represented by Mrs Olufunke Aleshinloye, General Manager, Nigeria Social Insurance Trust Fund.
Chief Executive Officer of Erisco Foods, Mr Eric Umeofia, urged the government to formulate policies that would support local manufacturers.
“We want to warn that until indigenous manufacturers are respected and supported, no meaningful economic diversification will be achieved in this country.
“Nigeria is the biggest importer of tomato paste in the world while over 75 per cent of fresh tomato harvested got wasted in the hands of our farmers yearly.
“This is due to the fact that there was no means of making use of them industrially.
“Seven out of the nine tomato processing factories have closed down and we may soon follow suit and shut down, God forbid, if the government fails to ban the importation of tomato paste.
“What we want is not waiver but a level playing field for all.”
According to him, tomato importers should be compelled to invest in tomato processing in Nigeria to boost development in the agricultural sector and employment opportunities in the country.
Umeofia urged the government to effect the NAFDAC report recommendation of Feb. 10, 2015 that stated that 91.1 per cent of all tomato paste imported and sold in the country were fake and substandard.
“It took European Union (EU) barely a month to take decision and place ban on the importation of some Nigerian food products till 2019. “This is food for thought for our government.”
According to him, his company’s conversion of fresh and dried tomatoes to paste will save the country one billion dollars spent annually on importation and earn foreign exchange for the nation through its export.
“We have a tomato paste processing plant with processing capacity of above 450,000 metric tons per annum, among other product lines.
“We have over 2,052 workers and set to employ over 50,000 youths in two to three years with over five million jobs for farmers indirectly in our Katsina, Jigawa and Sokoto State backward integration projects.
“We target to start production from our Katsina project in the first quarter of 2017 provided that we get support from our good people of Nigeria as nobody will love or build our country for us.”
He appealed to the government to prioritise allocation of foreign exchange to genuine manufacturers to improve productivity in the country.
Mrs Nike Akande, President, Lagos Chamber of Commerce and Industry (LCCI), commended Erisco Foods, saying that industrialisation is key to economic development, employment and increased revenue generation.
Comrade Issa Aremu, former Vice-President, Nigeria Labour Congress (NLC), called for ban on tomato paste importation, adding that the country has achieved self-sufficiency in the production.
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
