Business
RTEAN Decries Poor Access Roads …Loses 400 Trucks In One Year
The Road Transport Employers Association of Nigeria (RTEAN) has decried the poor state of port access roads in the country, saying members lost over 400 trucks in Apapa and Tincan Island ports axis in the last one year alone .
He added that some of the truckers have sold off their trucks as scraps due to lack of job and poor port access roads.
Lagos State chairman of RTEAN, Alhaji Musa Muhammed, stated this at the monthly news events of the Association of Maritime Journalist of Nigeria (AMJON), tagged monthly round table held in Lagos, recently.
Muhammed who was represented at the event by the State Public Relations Officer, Comrade Abayomi Afini, said that members plying their trade in the ports are leaving the business in droves because it is becoming increasingly unprofitable due to the very poor state of ports access roads and the downturn in the Nigerian economy which has, according to him, cut imports coming into the country through the seaports by about half.
He lamented that while the poor port access roads is damaging the vehicles daily, cost of acquiring new trucks has doubled even as cost of spare-parts has gone up by over 50 percent in the last one years.
Muhammed said, in Tincan and Apapa alone, I can count about 40 owners that are no more in business. I am talking of members that have about 10 to 15 trucks each.
“Our very bad situation is made worse by the fact that instead of the cost of freight going up following the rising cost of business, cost of freight is rather falling.
In 2007, for instance, we used to charge N160,000 for a 40 feet container to Ikeja, but today we charge N60,000 for the same 40 feet container to Ikeja because even as the cost of doing the business is very high, there is no business either because of government policies that have dried up imports to Nigeria,” he said.
He lamented that members of the Association are now selling their trucks and going into Commercial Bus Transportation Business.
“Infact it is more profitable to operate Keke Napep than to own a truck today in Nigeria”, he added.
Mohammed also said that the Nigeria Port Authority (NPA) deceived its members to subscribe to the N10,000 payments for stickers it introduced last year as a measure for minimum truck standardization in the port.
He added that lack of unity among the various Truck Owners Associations in the port contributed to NPA’s success in collecting the fee for the strckers even as he blamed the government for not sticking to the two recognized associations notable in the transport sector
He said, “Last year, NPA came up with the issues of stickers that has been there for six years but because there are many associations in the ports, that is why we have the problems we have today.
“If government has been dealing with the two major Associations, that is the National Union of Road Transport Workers (NURTW) and RTEAN, there wouldn’t have been the problems we have today in the ports. These two bodies are supposed to take care of all transport problems in the country; but today, we have so many associations.
“On the issue of the stickers we had several meetings with the MD and the General Manager, Western port of NPA, they told us that immediately we are able to pay the money, extortion would stopped at the gate but that has not stop”, he said.
Earlier, the Public Relations Officer had disclosed that the association has an internal standard assurance mechanism to make sure that members’ trucks met the required standard.
He said that the Association had always ensured that its members maintain their trucks and to make sure they are in good shape and they are complying with to the directive”.
He however denied the allegation that members of the association park their trucks indiscriminately on the roads thereby causing traffic gridlock, saying the reason why trucks litter the roads is because the terminal operators have failed to produce truck bays as well as the failure of the government to provide parking lot for trucks coming into the ports.
Nkpemenyie Mcdominic – Lagos
Business
MoneyPoint Empowers Pharmacists With Payment Solutions
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
Business
Embrace AI, CIIN Urges Insurance Operators
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.
Business
NASRDA Reassures On Strengthening Nigeria’s Space Capability
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