Friday, December 27, 2024
22.9 C
Lagos
Home Blog Page 20

Dufil Prima Foods Strengthens Primary Health Care with Donation of Medical Equipment

0

L-R: Assistant Medical Officer of Health, Rauf Aregbesola Primary Health Center, Dr. Dosunmu Adebamidele; Group Corporate Communications and Events Manager, Dufil Prima Foods, Temitope Ashiwaju; Medical Officer of Health, Rauf Aregbesola Primary Health Center, Dr. Abiola Bolaji and Deputy Director, Nursing Service, Rauf Aregbesola Primary Health Center, Obashola Oyenike during the presentation of Medical Equipment to Rauf Aregbesola Primary Health Center, Okunola, Lagos by Indomie as part of its CSR Initiatives. 

As part of its commitment of giving back to the Nigerian society and fulfilling its corporate social responsibility, Dufil Prima Foods Ltd, makers of Indomie Instant Noodles, donated medical equipment and supplies to the Rauf Aregbesola Primary Health Centre, Alimosho. This donation is part of Indomie’s broader mission of enhancing the quality of healthcare services and boosting the well-being of communities across Nigeria.
The donation comprises a range of essential medical equipment including mattresses, weight scales, incubators, endotracheal tubes, pillows, infant phototherapy unit and baby bed, among others. These medical supplies by Indomie are designed to improve the health centre’s ability to provide quality care, and to strengthen the overall health infrastructure of the community.
Speaking at the event, the Group Corporate Communications and Events Manager, Dufil Prima Foods Limited, Temitope Ashiwaju said that Indomie came to the community to accomplish one of its corporate social responsibility initiatives by donating medical equipment to public health facilities across the country, pointing out that the donation was part of a nationwide initiative by the brand.
“We did a need assessment of the health centre to determine what the dire needs and this informed the materials that we have brought here today to donate. We are glad to have met with the management and staff of the health facility, and just like we have said in the past, we feel that corporate entities like us need to support the government, most especially in the areas where we know that only the government alone might not be able to do all those interventions.
This initiative is something that is ongoing. As a caring brand, we have done quite a number of these donations in Port Harcourt, Kaduna, Kano. It is not just limited to the southwest. It is something that is nationwide. So, it is no surprise that we have come here to Rauf Aregbeshola Medical Facility here in Alimosho Local Government. We hope this contribution will make a real difference in the quality of healthcare available at the centre and will be put to good use”, Ashiwaju said.
He stated the brand’s commitment to continue with the initiative to reach other public health facilities across the country, making critical donations and interventions that are local to their needs, as a show of its dedication to the health and well-being of Nigerians, a significant aspect of the country’s Sustainable Development Goals. This, he added, is because it tallies with the brand’s the core CSR pillars, namely: health, ⁠education, ⁠empowerment and ⁠feeding.
Speaking also at the event, the Medical Officer of Health, Rauf Aregbesola Primary Heath Centre, Dr. Abiola Bolaji expressed deep appreciation for the donation, noting its potential to significantly improve the healthcare delivery of the centre. “I would like to say a big thank you to Dufil Prima Foods for the donation of the medical equipment. It is coming at the right time, and that’s because we have incorporated more integrated services through the Primary Health Care. We are hopeful that with this new equipment, more and more patients would be encouraged to come in, and that it would inspire the medical personnel to work better”, she said.
In addition to the donations, the brand also delighted the management and staff of the health centre as well as the community, with gifts, including cooked samples Indomie Instant Noodles and cartons of the product.

 

 

NNPC Launches Vision First Programme in Ilaje Community, Lagos

0

The NNPC Limited has flagged off the third edition of the Vision First Programme, as part of comprehensive community-focused healthcare outreach targeted at the Ilaje community and its environs in Bariga, Lagos State.

The Vision First programme is a continuation of NNPC Limited/ SNEPCo Production Sharing Contract (PSC) commitment to advancing health and well-being within its host communities. Through this initiative, over 1,000 individuals will receive free eye care services, alongside a range of general healthcare provisions. The services include cardiovascular screening, BMI assessments, laboratory services, consultations, treatment of mild and chronic diseases, and distribution of insecticide-treated nets.

Since its inception, the Vision First programme has made a significant impact, with over 1,853 individuals benefiting from free eye care services. The Lagos edition, which began in 2022, has screened 2,000 people, provided 1,199 prescription glasses, administered medication to 1,310 beneficiaries, and facilitated successful procedures for 189 individuals.

The initiative is also aligned with the Mallam Mele Kyari-led Management commitment of making positive impact in NNPC Limited’s host communities and enhancing the quality of life for Nigerians through sustainable partnerships.

In his remarks, the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services (CUIO – NUIMS), Mr. Bala Wunti stated that the Vision First Plus programme represents a commitment to restoring hope and improving lives within NNPC Limited communities.

“Through this programme, we aim to ensure that preventable vision challenges do not hold anyone back. By providing eye screenings, corrective lenses, surgeries, and general healthcare, we’re dedicated to bringing clarity and brighter futures to those who need it most,” Wunti, who was represented by Mrs. Bunmi Lawson, added.

The outreach emphasised the significance of proactive health management, highlighting that healthy eyes lead to a brighter future. Attendees were encouraged to protect their vision through regular check-ups, a balanced diet, and adequate rest.

The Vision First programme embodies the spirit of collaboration and the essence of giving back to the communities where NNPC Limited operates. It also signifies the Company’s commitment to investing in social initiatives that leave a lasting positive impact.

NCC Declares Sept 14 as Final Deadline for NIN-SIM Linkage Compliance

0

The Nigerian Communications Commission (NCC) is pleased to announce significant progress in the Federal Government’s 2020 policy to link all Subscriber Identification Modules (SIMs) to National Identity Numbers (NINs).

To date, over 153 million SIMs have been successfully linked to a NIN, reflecting an impressive compliance rate of 96 per cent, a substantial increase from 69.7 per cent in January 2024.

As we approach the final phase of this critical process, the NCC seeks the continued cooperation of all Nigerians to achieve 100 per cent compliance. The complete linkage of all SIM cards to NINs is essential for enhancing the trust and security of our digital economy. By verifying all mobile users, this policy strengthens confidence in digital transactions, reduces the risk of fraud and cybercrime, and supports greater participation in e-commerce, digital banking, and mobile money services. This, in turn, promotes financial inclusion and drives economic growth.

Through collaboration with the Office of the National Security Adviser (ONSA) and the National Identity Management Commission (NIMC), the NCC has uncovered alarming cases where individuals possessed an unusually high number of SIM cards—some exceeding 100,000. The Commission also remains committed to working with security agencies and other stakeholders to crack down on the sale of pre-registered SIMs, thereby safeguarding national security and ensuring the integrity of mobile numbers in Nigeria.

To ensure full compliance with the NIN-SIM linkage policy, the NCC has directed all Mobile Network Operators (MNOs) to complete the mandatory verification and linkage of SIMs to NINs by September 14, 2024.

Effective September 15, 2024, the Commission expects that no SIM operating in Nigeria will be without a valid NIN.

We urge all members of the public who have not yet completed their NIN-SIM linkage, or who have faced issues due to verification mismatches, to visit their service providers promptly to update their details before the deadline. Alternatively, the approved self-service portals are available for this purpose.

The NCC also reminds the public that the sale and purchase of pre-registered SIMs are criminal offences punishable by imprisonment and fines. We encourage citizens to report any such activities to the Commission via our toll-free line (622) or through our social media platforms.

The Commission thanks the general public for its continued co-operation as we work together to strengthen Nigeria’s digital ecosystem.

Explore your Payment Option on the PalmPay App 

0

Just before you complete your payment, have you taken the time to look at your payment options? If you have not, this is for you!

In our fast-paced world, there are details we naturally ignore due to urgency. Imagine making a call and your airtime finishes, the first thing you want to do is to quickly top-up your airtime within the minute to return to the call.

To make payment seamless, PalmPay has an in-app payment feature called Priority Payment Method, that eases transactions.

What is the Priority Payment Method?

  • The feature allows you to choose the primary payment method for which multiple payment options are allowed, such as airtime/data top-up and bill payments.

What you need to know?

  • Your selection will be the first option for airtime/data top-up and bill payment.
  • The feature does not apply to transfers, PayShop, withdrawal, savings and the likes.
  • If your set priority payment method is not available, the system will automatically choose the next available payment method.

How to Set Your Priority Payment Method

  • Open the PalmPay app and go to Settings
  • Click ‘Payment Setting’
  • Select ‘Priority Payment Method’
  • Choose the Priority Payment Method that suits you best!

As always, you can reach out to us via social media for customer support.

NNPC Expands Global Market Footprint to Japan, China with LNG Supply on Delivered Ex-Ship Basis

0

A vessel on arrival in Futtsu Japan to deliver NNPC Shipping Limited’s Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis, recently.

In line with its strategic vision to be a dynamic and reliable global energy supplier of choice, the Nigerian National Petroleum Company Limited (NNPC) has commenced shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis.

NNPC Limited achieved the milestone through the collaboration of two of its Downstream subsidiaries – NNPC LNG Limited and NNPC Shipping Limited – which delivered its first DES LNG cargo from the 174,000m³ LNG vessel Grazyna Gesicka at Futtsu, Japan, on 27th June, 2024.

Since then, it has expanded its footprint to China with the delivery of one LNG cargo on DES basis.

Delivered Ex-Ship (DES) is an international commercial term that requires the seller to deliver the products/goods at a specific port. The seller takes responsibility for the shipping and insurance for the products/goods until they get to the specified port of delivery. It requires expertise and a higher level of efficiency to execute than the Free on Board (FOB) system.

NNPC has been involved in LNG trading since 2021 with its first LNG cargo sale in November of that year. It has since traded over 20 cargoes into the European and Asian markets on FOB basis.

Speaking on the development, the Executive President, Downstream, Mr. Dapo Segun, said: “The DES system, apart from being more financially rewarding, allows NNPC inroads into the downstream segment of the LNG sector and positions it to capture more market shares while building in-house capacity and ensuring that global customers are familiar with the NNPC brand”.

The collaboration between NNPC LNG Limited and NNPC Shipping Limited in executing the LNG supplies on DES basis has strengthened the latter’s position as a world class shipping provider in the LNG sector.

“NNPC Shipping intends to build a shipping portfolio (including owned vessels) so that we can provide our sister company and other clients all the shipping flexibilities they need”, Managing Director of NNPC Shipping, Panos Gliatis, enthused.

NNPC LNG Limited, in collaboration with NNPC Shipping Limited, is scheduled to deliver at least two more LNG cargoes to the Asian market on DES basis by November. Many more orders are expected before the end of year.

AfDB, African Union Launch Initiative to Eradicate Malnutrition Across Africa

0

 

The African Union Commission (AUC) and the African Development Bank Group’s African Leaders for Nutrition (ALN) initiative, in collaboration with the government of Senegal, have launched a series of regional consultations that aim to transform nutrition policy and financing and end malnutrition across Africa.
The inaugural two-day consultation for the West Africa region, held in Dakar, Senegal, marks the beginning of an ambitious journey to develop Africa’s first-ever Multisectoral Nutrition Policy Framework (MNPF) and an investment target for combating malnutrition.
The consultation concluded having successfully gathered the data needed to develop MNPF and investment targets, while also building consensus on interventions to reduce stunting, wasting, anaemia, and overweight among women, children, and adolescents. Additionally, the event generated actionable sector-specific insights and recommendations to inform the MNPF’s development and ensure effective implementation across all sectors.
The event, which held from 19 to 20 August 2024, brought together experts in healthcare, nutrition, education, agriculture, and finance from nine West African countries, as well as representatives of the governments of Senegal, Togo, Ghana, Nigeria, Gambia, Guinea-Bissau Liberia, Sierra Leone, and Côte d’Ivoire among others.

Civil society organisations, UNICEF and the World Food Programme of the United Nations, and development partners Scaling Up Nutrition Movement, the Canadian International Development Agency, and other key nutrition stakeholders were also present.
The initiative is an outcome of a resolution passed during the African Union’s 41st Executive Council meeting held in Lusaka, Zambia in 2022, and which called for the development of a multisectoral policy framework, and a nutrition investment target to ensure adequate funding for nutrition initiatives.
Ibrahima Gueye, Director of Cabinet for the Prime Minister of Senegal, Ousmane Sonko, and President of the country’s National Council for Nutrition Development attended the event’s opening ceremony. He said, “Increased funding for nutrition starts with greater awareness of its importance by our leaders. It is imperative that heads of state and government understand that every dollar invested in nutrition is a dollar invested in the future of our nations. However, this understanding must be followed by stronger ownership of nutrition goals and a firm commitment to mobilising sustainable resources for nutrition and using funds in a timely and effective manner. This regional concertation marks a crucial step in this process.”
Gertrude Kara, the African Union Commission’s Technical Advisor for Nutrition Policy, said: “This first regional consultation is a critical step towards developing a unified, continent-wide approach to nutrition policy and financing. The insights gathered here will inform similar consultations across Africa, ultimately leading to a comprehensive framework to improve nutrition outcomes for millions across the continent.”
George Ouma, the African Development Bank’s ALN Coordinator, said, “By bringing together experts from various sectors, we’re fostering a holistic approach to nutrition. This consultation will not only shape policies in West Africa but will also inform our continent-wide strategy for improving nutrition outcomes.”
The consultations will also serve to drum up support for African countries to participate in the Nutrition for Growth Summit, scheduled to take place in France next year. The Summit is a global event held every four years in the Olympic host country to mobilise commitments and accelerate progress toward ending malnutrition by 2030.
Participants at the consultation pledged to work collaboratively to prioritise high-impact interventions across the health, social protection, water and sanitation, education, and agriculture sectors, and create a model for other regions to follow.
This regional consultation for West Africa is the first in a series that will cover all five regions of Africa, culminating in the development of the multisectoral nutrition policy framework and investment target for the entire continent.
The African Leaders for Nutrition (ALN) Initiative, spearheaded by the African Development Bank and championed by African leaders, works to galvanise political will and significant investments to end nutrition.

Since it was officially endorsed on January 31, 2018 by the AU Assembly of Heads of State and Governments, ALN has secured critical commitments from governments across Africa, leading to impactful policy changes and cross-sector collaborations.

The Role of Insurance in Aviation Business

0

Being text of the speech delivered by Mr. Olusegun Ayo Omosehin, Commissioner for Insurance/Chief Executive Officer, National Insurance Commission (NAICOM) at the 4th CHINET AVIACARGO Conference in Lagos on August 22, 2024.

PROTOCOL

I am honoured to have been invited to join aviation enthusiasts, experts and other stakeholders at this very critical conference. I feel even more privileged to be invited as Special Guest of Honour and to join the panel discussants on the Role of Insurance in Aviation Business. Today, we stand at the brink of an exciting new era in the aviation industry which envisions a landscape that is consistent with advancements such as the rise of electric and hybrid aircrafts. These advancements are expected to reduce our carbon footprint and enhance energy efficiency; creating faster, cleaner and quieter aircrafts. The future of the aviation industry is full of potential.

The future of the aviation Industry that would be characterized by predictive maintenance for aircrafts, automation of air traffic control system for optimization of routes, and such likes, cannot therefore be discussed without considering the complementary inherent risks and role of insurance in mitigating those risks. There are macro-economic trends that clearly shows that we now live in the age of disruptions. Amongst these macro-economic trends are environmental patterns that have characterized the way businesses are run. Ladies and gentlemen, permit me therefore to express my appreciation to the Organizers of this conference for the choice of this year’s theme and more importantly the topic for this panel discussion. I am privileged to discuss a crucial yet underestimated pillar of the aviation industry; “The Role of Insurance in Aviation Business”, especially as it serves as a risk management tool, safety net and a catalyst for growth and development of every sector of the economy, including the aviation sector.

Aviation business is an international business that is complex in its designs, operations and fraught with risks of accidents, equipment failures and all devices that can ground operations, as well as threaten assets of the industry.

The nature of insurance operations on the other side is also international due to the concept of spreading of risks. Aviation insurers transfer risks globally through Reinsurance, pooling and mechanisms. Insurance is the most favoured risk transfer mechanism to buffer crystallization of unforeseen events such as accident, fire, and air crashes, which have tested the resilience of the insurance industry.

Insurance as an international business cannot therefore be seen to work in isolation. Consequently, the external environments and its changes became determining factors of how the Nigeria aviation insurance market is largely affected.

Insurance all over the world is anchored strongly on law-of-large-numbers, portfolio diversification and pooling arrangement. It is on this strength that risks insured in Country ABC will find itself in many continents of the World by way of underwriting and placements. The re-insurance industry has come to the fore in the light of its crucial role in supporting catastrophe risks and in maintaining financial stability.

Notwithstanding the international nature of aviation business and insurance operations, professionals in the country where the subject matter of insurance is situated cannot be ignored in profiling of the risk. Risk Profiling centres on obtaining right information about the subject matter of Insurance using a known risk assessment technique that is suitable to enhance evaluation of risk and ultimately fostering a commensurable risk control decision.

Antonella Cappiello in the book titled Technology and the Insurance Industry (2018) opined that smart analysis techniques, predictive modelling and connected telematics devices allow insurers to create products and set premiums based on actual risk profiles other than on general standards.

In consequence of potential selection against the insurance industry, Chief Babajide Olatunde-Agbeja in his Paper presentation on Insurance and Aviation in Nigeria at the CHINET Aviation and Cargo Conference (2021) elucidated the concerns of Country Risk.

It has been observed over time that customers’ behaviours change over time due to changes in many controllable and uncontrollable factors. This is further amplified by many environmental changes that are not only imminent but also peculiar to the aviation industry.

The Nigerian Insurance sector is therefore best fit to understand the patterns, behaviours, and risk profiles of the various sectors, in the best interest of the insuring public and businesses in Nigeria, whilst layering its support from its Reinsurers.

Unfortunately, the Insurance Industry is not insulated from the pressure of disruptive environmental patterns, especially the external environment, thereby affecting how businesses are conducted by Underwriters. We can almost ascertain that insurance sector is facing significant waves of disruption, spanning new innovations to changes in market positioning, dilution of the aviation insurance ecosystem, technology, changing nature of aviation risks and skills in underwriting aviation businesses.

It might have been observed, that the experiential pressure of finance has shaped thought process and behavior of actors in the financial space, which must be well understood by all stakeholders. There is now forced financial discipline; habits are now formed with respect to new changing monetary policy; personal and corporate finance now exposes many to unprecedented access to avalanche of information on finance which may have become more complex due to the opportunities created in the information flux.

To mirror real exposure, underwriters use a combination of forecasted worst case scenarios of exposures and historical experience. It is not Impossible for multiple hulls to be lost and loss of several lives in the event of a disaster. However, likelihood is more of a risk estimation concerns rather than exposure measurement.

 

The Roles of Insurance cannot therefore be overemphasized as it;

 

– helps and allows airlines, manufacturers, operators to transfer the financial burden of potential losses to insurance companies;

 

– play pivotal role in facilitating investment and financing. This is because aviation industry is a capital-intensive industry that requires huge funds and investors are more likely to fund and venture in aviation when there is adequate insurance coverage in place.

 

The insurance sector is a critical part of any nation’s economy and has the potential of galvanizing the optimal performance of other sectors

It is therefore imperative to plant “Insurance” at the center of any equation designed to enhance, sustain and facilitate economic growth and development of any country. There is therefore the need for mutual understanding and cooperation to enable the Nigerian insurance industry attain its rightful position in our economy.

Siddique Ahmed, Chamhuri Siwar Md., and Sujahangir Kabir Sarkar (2013) in the book titled Impact of Environmental Change on Insurance Industry postulate that Insurance companies are at the cutting edge of understanding and managing risk, and acting as “early warning systems for society” by amplifying risk signals (Imeson Michael,2010).

There are changes in our business environments that embodies drawback that must be addressed in our profiling of risks and insurance practice in Nigeria.

There is now the dare need for a deliberate and systematic action towards addressing leading events that are capable of distorting the sustainability of growth and development.

The capacity of aviation insurance in Nigeria is regulated by the National Insurance Commission (NAICOM). The Commission which is the agency of the Government that is responsible for maintaining stability, safety and financial soundness of insurance operators in the sector, thus closely monitors the placement of aviation risks in Nigeria.

The supervision of aviation insurance placements has in no doubt increased over the years, especially on very high risks that may warrant placement of a portion of the risk offshore by way of Reinsurance support. In view of this, the Lead Underwriter or placement Broker is expected to seek the National Insurance Commission’s “Approval in Principle” to place the excess of the available Local Capacity offshore. In this instance the regulator (NAICOM) is privileged to see the entire process from provisional stage of product packaging to the actual consummation of the contract and placements.

NAICOM through its prudential regulations had specified minimum prudential standards for underwriting, reinsurance, investments, reserving, and outsourcing. The Prudential Guidelines also deals with aviation Insurance and returns, with the ultimate intention of protecting consumers and stakeholders in the industry, ensuring a safe and stable insurance industry, as well as boosting confidence in the sector.

Some of the prescribed minimum prudential standards that guides activities in aviation underwriting in Nigeria includes the following:

 

– The general requirements require that all aviation insurance business shall be conducted in accordance with extant insurance laws and other relevant regulations.

 

– Ensuring that establishment of underwriting terms and conditions for any aviation and its associated risks in Nigeria are the responsibility of an Insurer duly licensed to transact insurance business in Nigeria. This is without prejudice to an Insurer’s need to seek expert advice from its reinsurers for appropriate risk rating/pricing.

 

– All Underwriting firms are required to ensure that all aviation insurance transactions are conducted in compliance with Contract Certainty principles and requirements; amongst which all aviation insurance liability policies for any Nigeria domiciled risk are to conform to the minimum Passenger Liability Limit as required by the Nigerian Civil Aviation Authority.

 

– Every Insurer and/or Coinsurer shall, prior to accepting, signing and/or stamping any Aviation Insurance policy/schedule of coinsurers, carry out Risk Measurement and Exposure Assessment vis-a-viz its available capacity.

 

In conclusion, the Commission would like to appeal to all stakeholders in the aviation sector to see the bigger picture of growing our industries beyond the immediate individual gains, but rather, collectively growing an economy that is sustainable and self-reliance to absorb shocks.

The role of insurance should therefore be seen beyond just financial protection, to one that is a very critical part of the economy. The entire insurance value-chain is intended to enhance efficient allocation of resources in market-oriented economies everywhere. Specifically, it is noteworthy that insurance companies facilitate investment in infrastructure and high-risk/return activities, by generating sources of long-term finance, manage high-risk exposures as well as help stimulate the growth of debt and equity markets.

As a regulator in the financial services sector, our role is to ensure stability of the financial system, improve soundness of our operators in the insurance sector and safeguard policyholders’ interest. We are committed to giving adequate support to operators in the insurance sector and confidence to operators in the aviation industry in our effort to promote economic growth and development of our Nation, Nigeria.

NCDMB Lists Gains of NOGICD Act, Urges Namibia to Prioritise Local Content

0

The Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010 and its astonishing success in resetting oil and gas industry spending and in-country capacity development was the fulcrum of a presentation by the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe in Windhoek, Namibia.

Speaking on the theme “Local Content and Sustainable Inclusive Economic Growth” at the 2024 Namibia Oil and Gas Conference, Engr. Ogbe noted that recent discoveries of hydrocarbon deposits have increased the oil and gas reserves of the continent to about 126 billion barrels of oil and about 614 trillion cubic feet of gas.

He pointed out that the adoption of local content policy for the oil and gas industry and or other resources is “one veritable means through which African countries can ensure that the utilisation of our resources will translate to energy security, economic development, and industrialisation of the continent,” drawing on the Nigerian experience for illustration.

According to him, since the enactment of the NOGICD Act in 2010, Nigeria has recorded significant achievements, which include “the creation of over 30,000 direct jobs, over 15 million training manhours, award of over 90% of contracts to Nigerian-owned businesses, utilisation of the expatriate management system to ensure 80% of oil companies’ management positions are held by Nigerians, growth of successful indigenous operators who are now responsible for the production of more than 60% of Nigeria’s domestic gas requirements and over 15% of crude oil production, to mention a few.”

In totality, he noted, “As at the end of 2023, we have reached Nigerian Content level of 54% and we are committed to achieve the set target of 70% by 2027.”

Engr. Ogbe, who was represented by the General Manager, Corporate Communications and Zonal Coordination, Esueme Dan Kikile Esq., shared NCDMB’s experience as a regulator responsible for deepening and driving local content in the Nigerian oil and gas industry, noting that “a successful local content policy must entail the deployment of six (6) key parameters, namely, regulatory framework, gap analysis, capacity building, funding and incentives, research and development, and access to market.

According to him, “a law, or decree depending on the political arrangement in a country, sets the framework and boundaries for all local content practitioners.” In Nigeria, the NOGICD Act of 2010 is the regulatory framework that drives local content policy.

A structured capacity-building intervention, he stated, is also necessary to foster the development of in-country capacities and capabilities, while gap analysis is to ensure that baseline and periodic gap evaluations are carried out to ascertain the human capacity and infrastructure deficits which will then form the basis for developing initiatives, projects, and programmes that will seek to close the identified gaps.

The NCDMB boss emphasised the importance of research and development, which he noted would facilitate the development of innovative solutions to address peculiar challenges that are being experienced in a nation’s oil and gas industry. In addition, local companies require incentives and low-interest, long-term funds to be able to develop their capacities which will, in turn, enable them to compete favourably in the oil and industry.

He equally underscored the necessity for access to market as developed capacities and capabilities need patronage to be sustained. A market, within a country and across international boundaries, is imperative for the potential benefits of enhanced capabilities to be maximised.

A robust local content implementation framework that serves as a blueprint, spelling out how local content policy will be implemented, also has to be in place. Five key components of the framework, as instituted by the NCDMB, are Analysis, Guidelines and Regulations, Implementation, Monitoring and Evaluation, and Feedback Mechanism.

Faithful adherence to these provisions accounts significantly for the success of local content practice in Nigeria.

The Bamishe Family Buries Matriarch in Grand Style

0

L-R:  Idowu Baderin, second daughter of the deceased; Jide Fasanmi, former General Manager, Marketing, Anchor Insurance Company Ltd; Oluwatosin Akinjise, first daughter of the deceased; Femi Bamishe, first son; Bisi Bamishe, daughter-in-law and Publisher of Bisilad News and her husband, Pastor Ebenezer Bamishe during the Christian wake service of Deaconess Janet Bolaji Taye Bamishe conducted by The Apostolic Church Nigeria at Abesan Estate, Ipaja, Lagos.

NSML’s Training Centre Earns UK MCA Accreditation for Courses

0

NLNG Shipping and Marine Services Limited’s (NSML’s) Maritime Centre of Excellence (MCOE) has made history by becoming the first training centre in Africa to receive the highly sought-after accreditation from the UK Maritime and Coastguard Agency (UK MCA).

This groundbreaking achievement allows the Maritime Centre of Excellence (MCOE) to deliver and issue certificates for the STCW 2010 Electronic Chart Display and Information System (ECDIS) and Basic Liquefied Gas Tanker Cargo Operations courses, placing it among globally recognised maritime training institutions.

The UK MCA, an agency under the UK Department for Transport, is renowned for regulating maritime standards and safety worldwide. Its accreditation is often referred to as the “Gold Standard” in maritime training, a mark of excellence that underscores the quality of the MCOE’s programmes.

Reacting to the accreditations, NSML’s Managing Director and Chief Executive Officer, Mr. Abdulkadir K. Ahmed, said achieving this certification was no easy feat as the centre underwent a rigorous two-year review process, during which it was thoroughly evaluated against stringent international standards.

He emphasised that the accreditation confirms that the MCOE’s courses are not only in line with global best practices but also crucial for enhancing maritime safety, modern navigation, and operational efficiency.

Mr. Abdulkadir K. Ahmed expressed immense pride in the certifications, stressing that it was a significant milestone for both NSML and the maritime industry in Africa.

“Earning the UK MCA accreditation is a testament to the high standards we maintain at the MCOE. The accreditation has been a key objective for the MCOE since its inception. This accreditation allows us to offer the accredited courses, not just to our crew but to seafarers across Nigeria and beyond. With this milestone, we expect that seafarers will no longer need to travel overseas to renew their certifications, leading to significant savings in both travel and recertification costs. This achievement aligns perfectly with our growth and sustainability goals, positioning the MCOE as a fully-fledged, advanced maritime training centre, accredited to provide top-tier training and competency development programs for seafarers in Nigeria and Africa,” he said.

The newly accredited courses are vital for seafarers globally, as they are mandatory for those aiming to advance their careers and ensure safe operations at sea. With this accreditation, NSML’s MCOE is poised to become a leading hub for maritime training in Africa.

This landmark achievement strengthens the status of NSML and MCOE as industry leaders and sets a new benchmark for maritime training in Africa.

CAMCONIA Emerges from Retreat with Renewed Vision, Strategic Focus

0

The Corporate Affairs Managers Committee of the Nigerian Insurers Association (CAMCONIA), the elite body of Brand, Marketing and Corporate Communications professionals in the Nigerian insurance industry has concluded its highly successful annual retreat held at Abeokuta, the Ogun State capital.

The retreat brought together over thirty Marketing Communications, Digital Marketing and Public Relations experts in the Nigerian insurance industry for a 3-day interactive conference to reinvigorate and re-align goals, foster collaboration, and drive overall industry perception.

“We are thrilled with the outcomes of our retreat,” said Segun Bankole, Chairman, CAMCONIA and Head of Brand and Corporate Communications, Sovereign Trust Insurance Plc. “Our association has returned energised, focused, and committed to achieving the ideals of the reinspired CAMCONIA. We are poised for significant visibility and innovation in the coming months.”

Key highlights from the retreat include: a reinvigorated association as key to better industry image; identification of strategic priorities as a PR and Communications professional in the Nigerian insurance industry; development of a comprehensive action plan to be presented to relevant stakeholders as well as forging better relationship with the Advertising Regulatory Council of Nigeria (ARCON) amongst others. “We are excited to execute our action plan and capitalise on new opportunities brought about by our enhanced collaboration with ARCON in particular,” added Bankole. “Our retreat has set the stage for a remarkable year ahead,” he concluded.

Facilitators at the retreat themed: “Leading the Narrative: Shaping the future of our Industry” include Lara Yeku, Performance Coach and HR Expert who is also the Head of HR, Food Commercial Division, Flour Mills of Nigeria; Tope Adaramola, Public Speaker, PR professional and Executive Secretary, Nigerian Council of Registered Insurance Brokers of Nigeria (NCRIB) and Dr Lekan Fadolapo, Director General, Advertising Regulatory Council of Nigeria (ARCON).

The Facilitators expressed their delight at the impressive turnout and engagement sessions. “With what I have seen, the future of CAMCONIA is in very capable hands. I am happy to be part of this renewed vigour and drive,” Tope Adaramola, the NCRIB Executive Secretary/CEO, said.

In her remarks at the Gala Night, the Director-General of the Nigerian Insurers Association, Mrs. Bola Odukale, commended the Committee:

“I am delighted to be part of this reawakening of CAMCONIA. Your committee is a very important one to us; you guys are the ones to promote us, you are the image makers of our industry, you are the strength behind the insurance brand in Nigeria. I want to encourage you to not shirk in your duty, and I am positive our industry will be the better for it.”

Gbajabiamila Commends NASENI’s Technological Advancements, Product Innovations

0

L-R: EVC/CEO of NASENI, Mr. Khalil Suleiman Halilu; Deputy Chief of Staff, Senator Ibrahim Hadeija; Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila and Permanent Secretary, State House, Engr. Olufunso Adebiyi during a familiarisation visit to National Agency for Science and Engineering Infrastructure (NASENI) headquarters in Abuja on Thursday, August 22, 2024.

The Chief of Staff to President Bola Ahmed Tinubu, Rt. Hon. Femi Gbajabiamila, has commended the National Agency for Science and Engineering Infrastructure (NASENI) for its technological advancements, product innovations and interventions in various sectors of the economy.

The Chief Staff stated this during a familiarisation visit to the Agency on Thursday August 22, 2024 alongside the Deputy Chief of Staff, Senator Ibrahim Hadeija; and the Permanent Secretary, State House, Engr. Olufunso Adebiyi.

Gbajabiamila took time to test drive NASENI’s electric vehicle pick-up van and visited NASENI Hatch Box, Innovation Hub, Solar Irrigation Pump, and was shown new products such as Home Solar, Prepaid Meter, Laptop, Smartphone, Battery among others.

The visit was part of the engagements with agencies of government under the supervision of the Presidency to understand their mandates, activities and challenges and how they are aligning with the present administration’s Renewed Hope Agenda.

Speaking after an inspection tour of NASENI Complex in Idu Industrial Area, and also witnessing first-hand the new projects and products embarked on by the Executive Vice Chairman/CEO of NASENI, Mr. Khalil Suleiman Halilu since assuming office in September 2023, Gbajabiamila thanked the EVC and Management for their warm reception.

He said, “I am glad I embarked on this trip. I am glad we are all here to see for ourselves where NASENI is and what it is doing. The whole idea behind this trip was actually to come and hear first-hand, and to see onsite what you are doing, how you are doing it, what the challenges are and so on and so forth.

“That way we could get a grip of what needs to be done, whether there are lacunas here and there. I am glad you have demonstrated what you are doing and how you are doing it. I am even happier that there are no challenges from what you said.  Quite honestly, I am very impressed with what we have seen and heard,” he said.

The Chief of Staff to the President stated that, that the impacts of Mr. Halilu have translated into lots of products in a matter of 11 months speak lots of volumes about his commitments, dedication and passion for what he is doing. “So, I commend you and the rest of the team,” he added.

Furthermore, he noted that we are in a technology-driven age and NASENI is one of the agencies of government that are key to President Tinubu’s Renewed Hope Agenda to put Nigeria among the comity of nations in terms of advancements in science and technology.

“I believe we have what it takes as a country, not just material resources but more importantly human resources”, adding that “people who are sharp, smart, young men and women in this country exist who can deliver in terms of advancement of our technology. I thank you very much for what you are doing.”

Earlier, the EVC of NASENI took time to explain to the Chief of Staff the various innovations, interventions and partnerships which the Agency has embarked on in the last few months to advance technology transfer and align the NASENI’s mandate with President’s Renewed Hope Agenda.

“Your Excellency, under your guidance and the leadership of His Excellency, President Tinubu, we have embarked on a transformative journey. This journey is characterised by an accelerated push towards technological independence and industrial growth. It is through your endless support and that of your team that we have been able to make significant strides in achieving these goals,” Halilu added.

NNPC Shares Update  on Northern Oil Exploration Strategy

0

The Nigerian National Petroleum Company Limited  (NNPC) has provided updates on its crude oil exploration activities in the Northern part of the country, reiterating its commitment to achieving the Federal Government’s aspirations in the frontier basins.
“The company has been actively drilling in basins in and around Northern Nigeria, as a result of the need to increase oil exploration in the country’s frontier basins”.
This was contained in a publication authored by the Chief Corporate Communications Officer, NNPC Limited, Olufemi Soneye, who noted that “this is a strategic engagement that NNPC Limited will not compromise on.”
Soneye pointed out that the NNPCL is intensifying its patriotic efforts, making significant progress, and advancing considerable prospects to make do its promises to Nigerians.
Soneye, added that the discovery and exploration of crude oil in the north will not only appear as a dream pursued, but as an economic reality to boost oil production as  well as deepen the strength and efficiency of the petroleum industry value chain in Nigeria.
He said: “NNPC Limited, in compliance with the Petroleum Industry Act, PIA, is leaving no stone unturned to continue oil drilling projects in the North after decades of exploration in other basins.
“With crude oil reserves of more than 37 billion barrels and the 6th largest world producer, the discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin, in the north eastern part of the country will only accentuate the prosperity and growth of Nigeria in the comity of nations.
“It is therefore untrue for naysayers or sceptics to claim that NNPC has halted the search for oil in Nigeria’s inland basins. On the contrary, NNPC Limited is intensifying its patriotic efforts, making significant progress, and advancing considerable prospects to make do its promises no matter whose ox is gored.”
While stating  that the NNPC Limited would not suspend its inland basins oil and gas exploration activities, as some have suggested, he quipped that “Instead, the company is intensifying efforts to expedite the process and ensure the efficient exploitation of hydrocarbon resources in these areas, thereby contributing to national energy security
The Nigerian National Petroleum Company (NNPCL) has assured that contrary to insinuations in some quarters, oil exploration in the northern of the country is on course.
Olufemi Soneye, Chief Corporate Communications Officer (CCCO) of NNPC Limited, made this clarification in a recent publication   noting that  the company  in compliance with the Petroleum Industry Act (PIA) 2021, is leaving no stone unturned to continue oil drilling projects in the North after decades of exploration in the South.
He emphasised that the company is currently active in the inland basins of Nigeria with some  drilling projects including Wadi-2 Appraisal/Exploratory Well in OPL 732 and Ebenyi-1 Exploration Well in OPL 826.
According to him, the Wadi-2 Appraisal/Exploratory Well in OPL 732 in Borno State, within the Chad Basin, was spudded on November 4, 2023, and drilled to a total depth of 12,050 feet.
He noted that the drilling phase concluded on June 29, 2024 and the preliminary results from the geological evaluation of the well objectives led to post-drilling well testing, which began on July 4, 2024, and is ongoing.
“This testing aims to further evaluate the target reservoirs for the occurrence of a commercial accumulation of hydrocarbons and to obtain data for future field development,” he stated.
On Ebenyi-1 Exploration Well in OPL 826, which is situated in Nasarawa State within the Middle Benue Trough, drilling began on July 17, 2023.
“The 17½” hole section was drilled and cased to a depth of 3,449 feet. The drilling operations faced challenges due to issues with the hole and equipment breakdowns. The turnkey contractor is finalising plans to replace the drilling equipment with newer models to continue drilling operations to the planned total depth of 14,250 feet”, Soneye stated.
On the Kolmani River where in 2019 1 billion barrels of oil reserves and 500 billion cubic feet of gas was discovered, Soneye said the defunct Frontier Exploration Services (FES) of NNPC Limited drilled three wells—Kolmani River-2, Kolmani River-3, and Kolmani River-4—in the Upper Benue Trough (northeast Nigeria) on its and its partners behalf.
He said the drilling campaign confirmed the presence of commercial hydrocarbon deposits in the Kolmani field of OPLs 809 and 810.
He noted that the rig that drilled the wells was subsequently moved to start the Nasarawa project, with the goal of replicating the success achieved in the Kolmani field.
“In collaboration with co-venturers, we are  working towards the next phase of field development. The post-exploration planning takes time to meet regulatory requirements before the development phase can commence. Significant infrastructure projects are currently underway to facilitate the movement of heavy-duty equipment for the next project phase in the area.
“NNPC Limited has not and will not suspend its inland basins oil and gas exploration activities, as some have suggested. Instead, the company is intensifying efforts to expedite the process and ensure the efficient exploitation of hydrocarbon resources in these areas, thereby contributing to national energy security”, Soneye stated.
The NNPC Limited spokesman said the current leadership of the company  is committed to addressing every gap within its purview including infrastructural issues associated with the oil and gas industry such as gas shortages for power supply, pipeline protection and maintaining the uninterrupted provision of petroleum products across the country.
“For clarity, the NNPC Limited, under the chairmanship of Chief Pius Akinyelure and managerial leadership of Mele Kyari, is well-positioned to capture the economic opportunities associated with developing and selling hydrocarbons in a resource rich country like Nigeria. These benefits are to be equitably distributed across society and create wealth for human capital development and capacity building.
“It is to further achieve this sufficiency that, under Kyari’s leadership, NNPC Limited is fully aligned with the federal government’s ambition to accelerate economic growth and diversify the economy for the benefit of all Nigerians.
“This is being achieved through timely, credible, clear, and consistent policies. Since taking charge in July 2019, he has driven significant organisational renewal and greatly improved NNPC’s performance and long-term viability. The board and Kyari have been the driving force behind ambitious business growth and have instilled a new commercial mindset throughout the company’s entire value chain”, Soneye said.
He said Kyari’s leadership style  has revitalised NNPC Limited workforce even as the company continues to attract the interest of business partners, customers, suppliers, and shareholders noting that since its transition to a commercial entity under the Petroleum Industry Act (PIA) 2021, and in line with the Company & Allied Matters Act (CAMA) provisions, NNPC Limited has consistently delivered value despite its unique operational challenges
Soneye said in addition to thus, the company has maintained steady growth.
“For the first time in 43 years, NNPC declared a profit. From a loss of N803 billion in 2018, the company reduced this to just N1.7 billion in 2019. Remarkably, in 2020, NNPC posted its first-ever profit of N287 billion, which grew to N674.1 billion in 2021, and by the end of 2022, it had soared to N2.548 trillion.
“In our 2023 Audited Financial Statement, AFS, we declared a net profit of N3.297 trillion for the fiscal year, indicating an increase of 28 percent (over N700 billion) compared to the N2.548 trillion recorded in 2022. The N3.297 trillion profit declared for 2023 is very symbolic as it is the highest ever to be recorded since inception, 46 years ago.
“In terms of asset growth, we have moved from N13,300 billion in 2019 to N15,836 billion in 2020; N16,262 billion in 2021; N58,652 billion in 2022; and N246,816 billion, in 2023,”  the NNPC spokesman said.
He added that NNPC Limited will continue exploration in the north so that it can sustain  this type of excellent financial performance and gains for its investors and Nigerians at large noting that “the more strategic explorations we make, the better for all of us.

PenOp Elects Christopher Bajowa as New President

0

Following the retirement of the previous PenOp President and MD/CEO of Premium Pensions, Umar Mairami, the Pension Fund Operators Association of Nigeria (PenOp) had a vacuum in the position of its president, and this necessitated the need to elect a new President.

This process happened recently, and we are happy to announce that Christopher Bajowa, the Managing Director/Chief Executive Officer FCMB Pension Limited has been elected as the new President of PenOp. He will complete the term of the previous President, which will end in March 2026.

Christopher Bajowa was unanimously elected by his colleagues as the new President of PenOp. in accepting the nomination, Mr. Bajowa said that he will continue to uphold the ideals of the industry, ensuring that the RSA holders are prioritised. He also committed to continue the work of ensuring that pensions positively affect every aspect of Nigeria’s economy. He thanked his colleagues for electing him and committed to upholding the high standards expected of the role.

Speaking on the election, the Chief Executive Officer of PenOp, Oguche Agudah said the smooth transition shows the strong governance process within the association and the commitment to sound leadership and respectful relationships between the pension operators geared towards the overall aim of ensuring that every Nigerian benefits positively from the pension industry.

In this 20th year anniversary of the pension industry, it is evident that the pension industry has positively touched many aspects of Nigeria’s life, ranging from the public fiscal management, equity market, infrastructure development and the industry is primmed to do more in the coming years.

NAICOM Chief, Segun Omosehin, Rolls Out 5-Point Agenda for Market Growth

0

The Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, has unveiled his 5-Point agenda designed to ensure sustainable growth of the Nigerian insurance market.

Omosehin said at an interactive session with the media in Lagos that his agenda is to provide the market with a new direction built on solid commitment to change the image of the industry in the estimation of the insuring public and other relevant stakeholders.

He listed the five (5) priorities of his administration as:

Consumer Issues:

The interest of policyholders is paramount to rebuild public trust and confidence on the insurance sector. There had been declining confidence on the industry due to some market entities not being able to fulfill their obligations. We have some ailing entities and operators that we are managing to save the interest of the market. Our concern is to protect the interest of policyholders.

Strengthen Internal Capacity to Regulate:

The Commission is working to have the right regulatory framework to deliver on our mission.

Soundness of Operators:

We want financially sound operators that can meet their obligations to policyholders. We want to see an industry that is respected and can move the market to a new level of performance and ensure stability of the financial system.

Innovation:

The Commission intends to create an innovation hub to serve as the nucleus to drive innovation for the industry. We need new ideas that can allow the development of the market.

Accessibility & Penetration:

We need to do more to ensure sustainable penetration of insurance in the country. We are also relying on technology to drive access and penetration. The Commission will also endeavour to drive enforcement of compulsory insurances to grow the market.

On the way forward for the Commission and the industry, Omosehin said: “We are prioritising claims settlement and we have set up a department for that purpose. The attitude of the market to claims settlement must change. We must find a reason to pay all genuine claims to effectively restore public trust and confidence in the insuring public. Indeed, claims settlement is one of the key priorities of my administration.”

He also reiterated that NAICOM has not stopped registration of new insurance companies.

“We have not stopped licensing new insurance companies but the promoters of such new entities must meet the specified requirements. The number of operators in Nigeria is not the challenge in terms of performance of the market but the capacity of the companies to live up to expectations.”

On the drive for a $1 trillion economy by 2023 as projected by the Federal Government of Nigeria, the insurance industry regulator said the market must be ready to contribute meaningfully to such agenda.

“The insurance industry should be ready for the economic growth agenda of the federal government. We should be at the centre-stage as the chief risk takers in the economy in terms of financial soundness, readiness and manpower capacity. My tenure is to lead the action in terms of regulation to propel operators to grow the market by creating the enabling environment.”