Business
Expert Wants Synergy Between Insurance Leasing Industries
The Managing Director of Law Union and Rock (LUR) Insurance, Mr Jide Orimolade has called for synergy between insurance and leasing industries to boost their potential and enhance lasting relationships.
Orimolade told newsmenon yesterday, on the sideline of Equipment and Leasing Association of Nigeria (ELAN) first quarterly business forum in Lagos.
He said the two industries also needed to maintain strong partnership to enable stakeholders move from quick money approach to focus on long term formidable partnerships.
According to him, the synergy will also ensure cut in cost of production and improve operational efficiency.
He noted that the two industries were not doing well in four key sectors; education, healthcare and transportation, compared to the potential the sectors offered.
The expert also said that there had been steady increase in the demand for household appliances, pleasure cars, accommodation by individuals and families.
The managing director , however, noted that many of the individuals and families concerned could not pay lump sum for the items.
“They therefore look up to leasing companies and if someone leases a car, he needs to insure it too.
“This is a service point where both the leasing company and the insurance company meet.
“No matter the kind of leasing, whether vehicle leasing, agricultural equipment leasing, house or apartment, factory equipment and household appliances, the leased assets have to be saved and secured through insurance,’’ he said.
The insurance boss said the two industries also needed to critically synergise on agriculture in view of the importance of the sector to other sectors of the economy.
‘’Agriculture sector is very strategic as it serves other sectors and changes in this sector directly influence changes in the other sectors.
“Credit facilities extended to this sector by mainstream lending institutions have been huge.
‘’The growing number of small and medium scale businesses in this sector is also an opportunity for leasing and insurance business to thrive.’’
Orimolade also said effective synergy would put the two industries in an added advantage to contribute to the nation’s recovery from economic recession.
‘’We need to reposition ourselves to capture the opportunities that will follow the expected recovery as economic forecasts indicate Nigeria’s recovery from recession and the economy will bounce back in late 2017.
Orimolade urged the two industries to set up joint leasing and insurance research teams to assist them overcome the problems limiting their ability from maximising their potential.
“The much awaited collaboration should be in the areas of product and market research.
“The research should focus on need-satisfying products that address both current and future needs of mutual customers.’’
Business
Minister Constitutes Tech Committee On Aviation Ties With Angola
Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, has constituted a technical committee to work with the Angolan Embassy on deepening aviation ties with Nigeria.
Special Assistant on Media and Communications to the Minister, Mr. Tunde Moshood, in a statement, said the committee would oversee logistics and help solidify plans for the Minister’s visit and potential areas of collaboration.
This development is coming after Keyamo received the Angolan Ambassador to Nigeria, Jose Bamoquina Zau, and his Deputy, Nelson Paulo Kafikiri, in Abuja.
The statement revealed that the Angola’s Minister of Transport, Dr. Ricardo Viegas de Abreu, was keen to build a synergy between both nations and was eager to tap into the wealth of experience of Nigeria’s aviation leadership.
According to the statement, “The visit is aimed at strengthening aviation ties between Nigeria and Angola, particularly as Angola embarks on a new era for its aviation industry.
“The Angolan delegation brought positive updates on the progress of Angola’s aviation sector, specifically highlighting the recent overhaul of its airport infrastructure.
Ambassador Zau informed Keyamo that the new airport, set to serve as a strategic hub for the region, will be officially inaugurated in one month’s time.
In delivering a message from the Angolan Minister of Transport, Ricardo de Abreu, the Ambassador conveyed the Minister’s warm greetings and underscored Angola’s eagerness to foster collaboration with Nigeria.
He expressed interest in exploring a bilateral air services agreement and other mutually beneficial opportunities within the aviation sector.
Ambassador Zau also extended an official invitation from Minister Ricardo de Abreu for Keyamo to attend the grand opening of Angola’s new airport next month.
He emphasised that both nations stand to gain from deeper cooperation, particularly in aviation business and infrastructure development.
In response, the aviation Minister expressed appreciation for the visit and congratulated the Angolan government on its impressive strides in aviation infrastructure.
He affirmed his commitment to attend the upcoming event and signalled Nigeria’s readiness to work closely with Angola to enhance air connectivity and explore new business opportunities.
“To ensure seamless coordination ahead of the event, the Aviation Minister has constituted a technical committee to work with the Angolan Embassy’s team.
“The committee will oversee logistics and help solidify plans for the Minister’s visit and potential areas of collaboration.
“The meeting underscores the continued commitment of both nations to expand their aviation sectors and work towards a prosperous and mutually beneficial relationship”, Moshood stated.
Business
NIWA Wants Deeper Private Investment In Blue Economy
The National Inland Waterways Authority (NIWA) has called for deeper private sector participation in the blue economy initiative to harness greater benefits from it, for national development.
The Authority also commenced moves to improve security across the nation’s Waterways, in a bid to attract private investment into the Blue economy.
Managing Director of NIWA, Mr. Bola Oyebamiji, who disclosed this to newsmen during the tour of Wari and Onithsa area offices, said NIWA is determined to revamp the nation’s economy by consolidating on Public/Private Partnerships (PPP) initiatives.
“This initiative is part of our deliberate plans to open up new opportunities to maximise full economic potentials of the nation’s waterways.
“The PPP is the way to go but we need people or investors, who have genuine intentions and purposes to enable us align with President Bola Tinubu’s Renewed Hope Agenda for economic recovery”, he said.
The agency’s boss tasked the staff to live up to expectation by working harder in revenue generation that could open rooms to better their welfare.
He warned the staff against indolence and laxity since he was committed to staff welfare and revenue generation
According to him, there is need for the staff to be disciplined and committed by rededicating themselves to the growth and development of the Authority.
Business
Discount Airfares: Qatar Airways, Access Bank Extend To Dec
The Qatar Airlines, in its efforts to further ease financial burden of air passengers, has extended its discount partnership deal with Access Bank till December 2024.
Access Bank customers, who book their flights online using Qatar Airways’ website in this deal, enjoy up to 12 percent discount on both business and economy classses.
The Bank’s customers, using the promo code “ACCESS”, can book flights to any destination in the world and travel.
Qarta Airline, in a statement through the Vice President–Africa, Hendrick du Preez, stated that the partnership reiterates the Airways’ commitment to streamline travel within and across African markets by delivering first-rate services and offerings to passengers.
“As we are in the summer season and passengers tend to want to travel to spend time with loved ones, our priority at Qatar Airways remains broadening opportunities to travel for our passengers in the African market.
“Although Africa stands as the most underserved market, we strongly believe in the power of partnerships like these in transforming travel within the continent.
“We are proud to partner with respected pan-African financial institutions like Access Bank to provide innovative incentives for passengers and customers”, he stated.
This is coming on the heels of Qatar Airways’ recent expansion of routes across the African continent along with increased flight frequencies in various locations.
Also in the release, Access Bank’s Executive Director for Corporate and Investment Banking, Iyabo Soji-Okusanya, expressed enthusiasm about the partnership.
“Our team is delighted to collaborate with Qatar Airways to bring exceptional travel benefits to our valued customers. This offering aligns with our commitment to enhancing the overall experience for those who choose Access Bank and continue to do so every year.
“By providing exclusive discounts on Qatar Airways flights, we aim to make travel more accessible and enjoyable for our customers”, Soji-Okusanya said.
Corlins Walter
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