Business
Lagos-Abidjan Expressway Project Begins 2014 –Jonathan
President Goodluck Jonathan said last Saturday in Abidjan, Cote d’Ivoire that the construction of Lagos to Abidjan Expressway would commence next year.
The president made the disclosure at the Nigerian-Cote d’Ivoire Investors Forum on the sideline of his state visit to that country.
He said that the construction of the road was imperative to enhance free movement of goods and persons and reduce the encumbrances currently posed by the local customs and police to business men.
He said that the construction of the road was “dear to the heart of the ECOWAS leaders”.
Jonathan was speaking on the sideline of the 42nd ECOWAS Summit in Yammoussoukro, there was a meeting of the leaders of Nigeria, Togo, Benin, Cote d’Ivoire and Ghana on how to actualise the project.
“We have charged the Ivorian Minister of Infrastructure and the Nigerian Minister of Works to work with the ECOWAS Commission that within two weeks they must come up with a blueprint and preliminary information on the project.
“We will discuss the issue in Addis Ababa in May when we go for AU meeting.
“This is because we want a situation where the desk-work will be completed this year and by next year, we want physical construction.
“We believe that when we have this express road the issue of movement, interference by Customs and Police will be minimised because that will be an ECOWAS road.
“The laws regulating the use of the road will not be the laws regulating that of the roads in Nigeria, Cote d’Ivoire or Ghana.
“It will be an international standard and everything will be done in such a way that movement of goods, services and so on will not be interfered with by local restriction.”
Jonathan said that the projects would not be financed with public funds but by development partners and some viable banks which would re-coup their funds through tariffs and toll fees.
“It is a viable project that banks and business men within and outside the region will key into and which will generate enough money in short time.
Jonathan further explained that the project when completed would integrate the entire region.
“Togo has seven million, Benin Republic, eight million, Cote d’Ivoire, 25 million, Ghana 26 million and Nigeria about 167 million.
“When you add all these together, it gives you about 236 million out of the projected 287 million of ECOWAS.
“So, these five countries, by the time you traverse from Nigeria to Cote d’Ivoire, then you will easily integrate the entire sub-region.
“You will so integrate the system in such a way that you can key other countries along, that is why we decided that we must work with our business men and women to develop an express road from Lagos to Abidjan,” he said.
The president noted that there were lots of investment opportunities in the sub-region which were yet to be harnessed for development.
He identified the major challenges to development as lack of technology and exportation of raw materials without adding values.
“When you export crude oil you export job opportunities because those who refine the crude oil and turn our gas to petrochemical create a lot of jobs.
“Like now, we are supposed to be exporting finished products not crude oil and gas but we are still doing that.
“Cote d’Ivoire is just going to the oil industry, they should not make the mistakes Nigeria made from the beginning they must think about exporting finished products not exporting crude oil.
Jonathan noted that economic growth should not be reduced to paper work but realities that would affect the lives of the citizens.
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
