Business
Bureau Hails FG Over 5% PSC Approval
The Accident Investigation Bureau (AIB), has lauded the Federal Government for approving that five per cent of the revenue from Passengers Service Charge (PSC) should be remitted to the bureau.
The approval for the remittance of the revenue, collected by the Federal Airports Authority of Nigeria (FAAN), was given by the Minister of State for Aviation, Sen. Hadi Sirika.
The Tide source reports that the AIB Commissioner, Mr Akin Olateru, made the disclosure when he spoke to newsmen recently at the bureau’s headquarters at the Murtala Muhammed Airport, Lagos.
Olateru decried the criticisms that had trailed the move from a section of the aviation industry, noting that several AIB projects had been stalled because of paucity of funds.
He said, “Anybody that says it is not fair for us to get a part of the PSC is wicked because who owns the two agencies? It is the Federal Government.
“We all share the Ticket Sales Charge (TSC) and FAAN doesn’t share its PSC with anybody and the government in its wisdom says ‘FAAN, please give AIB five per cent.’ I don’t think that is too much. It is within the power of the minister to do that.’’
He said the AIB only gets a meagre three per cent of the revenue from the five per cent TSC and the Cargo Sales Charge (CSC) collected on behalf of the parastatal agencies by the Nigerian Civil Aviation Authority (NCAA), while other agencies get more.
According to him, NCAA in accordance with the Civil Aviation Act 2006, gets 58 per cent, while the Nigerian Airspace Management Agency (NAMA), earns 23 per cent.
Olateru added that, the Nigerian College of Aviation Technology (NCAT), gets seven per cent, while the Nigerian Meteorological Agency (NIMET), earns 9 per cent of the total sum.
He noted that of the agencies in the sector, only FAAN earns the PSC 100 per cent and still collects charges for adverts, parking and landing of aircraft and tolls from vehicles coming in and exiting the airports across the country.
The AIB commissioner said paucity of funds had stalled the release of the over 35 accident investigation reports, due to non-training of accident investigators since 2013.
Meanwhile, a combined team of officials from Singapore and the International Civil Aviation Organisation (ICAO), have arrived in Nigeria on Sunday to assist AIB in the technical evaluation of its Flight Safety Laboratory and capacity development.
Olateru, who confirmed the development, said the Singaporean team was led by Mr Michael Toft, while Mr Caj Frostel led the ICAO team.
He said that Nigeria decided to call on Singapore for the training of its personnel on the equipment as the Asian country had the same equipment.
Olateru described the laboratory equipment as unique, noting that only Nigeria had the state-of-the-art facility among West African countries.
“We wrote to Singapore because they have the same equipment as ours and graciously, they have agreed to support us with the required manpower and training
“The team arrived Nigeria today (Sunday) and will be in Abuja to train us on how to get the best out of this equipment,’’ he said.
Olateru explained that ICAO wanted the entire West African countries to benefit from the laboratory, hence the presence of its team for the same purpose.
“This will really help AIB because at the end of the day, it is about building an institution.
“Building institutions is not just about buying equipment, throwing money at people; it is about giving them the right exposure, which goes a long way.
“To me, within the next two years, we will build a very strong institution in AIB, which can take the lead and support the entire West African countries.’’
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