Category: CEO

  • A woman’s push for renewable energy

    A woman’s push for renewable energy

    Founder/Chief Executive, Clean Technology Hub Nigeria, an energy innovation centre, Ifeoma Malo, is at the forefront of the campaign for clean energy sources. With the rising global demand for efficient, sustainable, and cost-competitive solutions, her organisation has been conducting hands-on training in renewable energy technologies and energy efficiency for youths, reports DANIEL ESSIET.

    Technology entrepreneur and founder/Chief Executive, Clean Technology Hub Nigeria, Ifeoma Malo, is leading the campaign for clean energy sources particularly renewable energy. The renowned energy access expert is promoting distributed renewable energy in Nigeria by conducting hands-on training in energy efficiency and renewable energy technologies, green entrepreneurship and enterprise development for youths in Nigeria.

    The training focuses on empowering young entrepreneurs to start income-generating enterprises in the renewable energy sector and by so doing, become active proponents of energy efficiency and renewable energy approaches with a clear understanding of the issues and application around climate change. Youths so trained will also act as positive agents in their communities and bring about behavioral change among their peers and across their communities.

    The Hub’s six to 12 months’ incubation programme focuses on supporting trainees’ business processes and making them scalable enterprises. This ranges from teaching them to register and protect their business to teaching them to pitch their products and concepts to potential end users and investors.

    The goal, according to Ifeoma, was to enable growth while ushering in a new generation of entrepreneurial leadership and talented management.

    One of the Hub’s popular programmes is ‘Tech Meets Renewable Energy Project.’ The project supports new entrepreneurs and new ideas around unlocking new supply chain opportunities in the off grid electricity sector.

    The programme has been pivotal to addressing the increasing energy access demands across the continent.

    The other one is its ‘Micro, Small and Medium Enterprises (MSMEs) Programme’ designed to empower women-owned and led businesses by empowering them with clean energy products and services to increase their business offerings and their savings.

    It is easy to see why and how Ifeoma developed her interest in power, energy and policy sectors. For one, she has been a policy enthusiast and worked in the public and private sectors in the United States of America (USA) around global policy issues.

    Having attended a lot of high-level meetings between 2011 and 2014 during the power sector privatisation in Nigeria, Ifeoma saw the potential of the power sector emerging as the catalyst for Nigeria’s development and helping the country leap-frog into the modern world.

    To achieve the goal of universal energy access in a sustainable way (SDG7), she believes that Nigeria would need to adopt larger renewable energy technologies.

    Besides, there has been a rise in the global demand for efficient, sustainable, and cost-competitive energy solutions.This prompted Ifeoma to kick-start a campaign for clean energy sources. And her determination to build a legacy of innovative, sustainable ventures in renewable energy to Nigeria birthed Clean Technology Hub.

    Ifeoma, who is also Country Campaign Director for Power for All in Nigeria, said Clean Technology Hub came about as a result of her frustration in meeting several brilliant young people with amazing energy access ideas that they couldn’t pursue or nurture because of lack of support or structure.

    According to her, the Hub focuses on early stage businesses, working them through the stages of idea creation, incubation and fund raising, whilst helping them put in place the structure that would make them investible and attract financial support.

    READ ALSO: Boosting renewable energy entrepreneurship

    A Harvard Law School and University of Massachusetts graduate, Ifeoma has extensive experience in the power and energy sector and was the senior technical advisor to the former Minister of Power, Prof Chinedu Nebo, between 2013 and 2015.

    She has credentials in building, cultivating and driving public private partnerships for project delivery and implementation, and has also held similar senior advisory portfolios with the Chairman/CEO of the Nigerian Electricity Regulatory Commission.

    Her prior work experience includes Special Assistant to the Minister of Finance in Nigeria; Counsel at Ashoka, Office of West Africa; Deputy Head of Intellectual Property at the firm of George Ikoli and Okagbue; Senior Manager at the Negotiation and Conflict Management Group: Associate at the Boston Public Health Commission.

    Ifeoma was also Adjunct Professor at the University of Massachusetts, Boston and a consultant at the Boston-based global biotechnology firm, Genzyme Corporation.

    At Genzyme, Ifeoma developed strategic documents used in expanding the firm’s global market access.

    Currently, the Chief Executive of Clean Technology Hub and the Energy Innovation Center in Abuja, she is proactively addressing the need for research, development, demonstration, and incubation of clean technologies to increase energy access and improve climate resilience.

    A Tutu Fellow, Ifeoma received the ‘Power Industry Leader of the Year’ award at the Nigerian African Power, Energy and Water Industry Awards in August.

    ‘The Hub focuses on early stage businesses, working them through the stages of idea creation, incubation and fund raising, whilst helping them put in place the structure that would make them investible and attract financial support’

  • Successful tech entrepreneur

    Successful tech entrepreneur

    The Founder/Chief Executive, We Code Caribbean, Safiya Olugbala is behind a movement to get more people to explore opportunities in coding. She is providing a platform for people to use coding to drive business innovation, DANIEL ESSIET reports.

    The Founder/Chief Executive, We Code Caribbean, Safiya Olugbala, is making a name turning the Caribbean into a hub with startups success stories everywhere. She is behind a movement to get more people to explore opportunities in coding. She is providing a platform to use coding to drive business innovation. We Code Caribbean was incorporated on October 25, last year and launched publicly in January this year.
    As the world faces a multitude of complex challenges, The Founder/, We Code Caribbean said science, technology, engineering and mathematics (STEM) have become critical in solving problems. She has taken up herself to engage children in STEM disciplines to enable them to take up challenging jobs in computer science and programming .Committed to empowering youths through computing and technology, she founded We Code Caribbean, to facilitate creators who want to work in digital platforms, and increase economic and social well-being by providing more youths with stable and lucrative careers.
    She said: “We Code Caribbean offers an abundance of opportunities to youths to building solutions to tackle problems.‘’My desperation to transform that reality, intensified when I became a mother. By one and a half, my son could communicate in Yoruba, French, Swahili and English. By age two, he could name every planet in the solar system and he could read and solve math problems.‘’The only reason he possessed these anomalous capabilities was because he had access to opportunities through technology. That access immediately redirected the trajectory of his lived experience. I wanted that level of success for every black child in the Caribbean. Hence, I joined the dot com arena.”
    She said: “The primary objective is to teach youth from rural communities, how to CODE and use AI and IoT innovation, to positively impact the region. We Code Caribbean’s agenda is to lessen the wealth gap and close the digital divide.” “The organisation sees it as critical, to empower youth to be the chief actors in solving persistent problems that plague the region. The primary objective is to teach youth from rural communities, how to code and use artificial intelligence (AI) and internet of things (IoT) innovation, to positively impact the region. We Code Caribbean’s agenda is to lessen the wealth gap and close the digital divide.”

    She explained: “The only escape route that presented any promise for the elevation of youth in marginalised, underserved communities was technology. As an educator who had contributed to public education for over 20 years, I saw the glaring disparities of that system. It became an accepted reality that students in schools in rural communities failed.” According to her, the coding industry was a 50 billion dollar industry and wants allow Caribbean youth to access opportunities within the sector.

    She maintained that the digital jobs market was exploding with skilled coders in demand. For this reason, children needed to be literate in technology throughout their education, developing ideas, learning new methods and putting them to the test.

    The School of Coding founded by the organisation helps children to learn how to create robots, software, and animations. They are involved in a variety of class projects in robotics, building models, among other things.

    The success story of the school showcases that when children realise their ability to code and build robots, they can be empowered to have successful futures and create innovative technology.

    For her, artificial intelligence is a powerful tool to train youths of tomorrow. Her words: “The mission I imposed upon myself was to reimagine education in radical ways. Such bold imaginings meant that I had to somehow find a way to catapult an entire region into the 21st century. I would have to succeed where many before me failed. I would have to weaken the stronghold of colonialism and its predatory appetite for youthful potential. I would have to engineer an iron clad plan that would force the oppressive system to devour itself if I had any chance of liberating seven million young minds in the Caribbean.”

    For an industry that is growing and offering strong prospect, she believes getting more youths to move alongside the emergence of new technologies, will lead to building future skills base.

  • Nigeria’s most prominent entrepreneur – Jeffrey Figbele

    Nigeria’s most prominent entrepreneur – Jeffrey Figbele

    Our Reporter

    This is a strong quote credited to Jeffrey Figbele which presumably has spurred him into becoming one of Nigeria’s most prominent entrepreneur and philanthropist.

    ”When you learn to be like the Greats, you learn a ton along the way.”

    Jeffrey Figbele is a young and passionate social icon who has displayed consistent professional and personal growth with robust experience in business, entertainment, science & technology, and other sub-professions across industries.

    Figbele is the the founder of JF Construction LTD, an award winning construction company based in Lagos which provides professional services in the management of building projects. He is also the creator of ‘WHAT’S IN THE BOX”, a fun game to educate adults and young people about business and financial concepts.

    Jeffrey Figbele was born and raised in Warri, Delta State where he attended his primary and secondary education before proceeding to the Delta State University (DELSU) where he studied Physics and Electronics. He later extended his education at the Royal Jordanian Air Academy, a flight training academy in Jordan where he was certified as an Aircraft Maintenance Engineer.

    Figbele is mostly described among his associates as a self-motivated and passionate individual with a strong drive for success. These set of virtues keep him going even in the face of setbacks, to take up opportunities and show commitment to what he wants to achieve.

     

     

     

     

  • Accolade Jewellers won’t rest on its laurels – Kolade Taiwo

    Accolade Jewellers won’t rest on its laurels – Kolade Taiwo

    Our Reporter

    Though born into a family vast in jewellery making, the CEO of Accolade Jewellers, Kolade Taiwo, had to carve a niche for himself to get to the top.

    The University of Lagos graduate knew he had to take after his grandfather and uncle, who were well-established in jewellery production.

    The decision to start making jewellery was not as straight-forward as it sounds as he had to struggle to raise funds to start his company, Accolade Jewellers.

    READ ALSO: Jewellery thefts that shocked the world

    But with passion and determination, he has raised the firm to an enviable height.

    Taiwo has been training young Nigerians on the viability of jewellery making

    Described by close friends, associates and clients as a hands-on person, who values relationships and a cheerful giver, Taiwo remains resolute in his resolve to be at the very best of his craft.

  • Meet Mitchell Zvagelskiy, founder of Scale Online

    Meet Mitchell Zvagelskiy, founder of Scale Online

    Our Reporter

    For San Francisco-based eCommerce start-up co-founder, Mitchell Zvagelskiy, financial freedom means many things. “The ability to experience whatever I desire,” is how he describes it.

    “Whether it’s taking a vacation across the world somewhere I’ve never been, providing myself or family with a home of our choice without finances being a problem, or building schools in third world countries where education is scarce.

    Having the financial freedom to start or invest in companies that solve problems at scale is also important as this creates change in the world. Ultimately, it’s the freedom to use my money towards whatever I desire/believe in.”

    Mitchell, the son of Belurusian natives who immigrated to the United States in 1994, was always sure that a typical going to school and getting a decent job route was not for him. Instead, he has built a million-dollar startup, Scale Online, which started earlier in 2020 when Mitchell was just 19 years old. Since its launch, Scale Online has built up a team of 10+ members in the United States and a 50+ person store management team in other countries.

    “If I was to go the traditional 9-5 route, not only would I not have much of a say in the company being worked at, but my pay would be directly based on the hours I work,” he rationalizes. “Not only would this limit my freedom, but I would not be able to build up enough capital to then reinvest into working with other people in bringing change to the world.”

    Instead, Mitchell has been able to focus his energy on more productive ventures, using his time to pursue more impactful activities.

    “Networking with people building interesting companies is something I enjoy as this gives me a different perspective of how different people think and view the world,” he admits.

    “Outside of the eCommerce world, there are many individuals working on interesting companies with a focus on bringing value to people and change to the world. As my eCommerce businesses bring me consistent cash flow, my mind is constantly analyzing the market for where to reinvest. This sets my focus on angel investing. Not only do I get to network with interesting people who are building interesting companies, but I get to bring value to the table for those I believe in.”

  • ‘Why AIB can’t use drones to probe crashes’

    ‘Why AIB can’t use drones to probe crashes’

    Aircraft accident investigation is rigorous, requiring men and materials and the collaboration of many government agencies and the private sector. This is why the Accident Investigation Bureau (AIB) is striving to tackle the challenges of investigating not only aircraft accidents, but others. AIB’s Chief Executive Officer/Commissioner, Akin Olateru, in this interview with KELVIN OSA-OKUNBOR, speaks of the bureau’s march towards a more-robust operation and his vision for same, among other issues.

    What is your assessment of the global aviation industry amid the COVID-19 pandemic?

    In the last few months, developments in global aviation have been altered because of the ravaging pandemic. The aviation sector, like others in the global economy, has witnessed phenomenal changes in the way businesses are done.  The air transport sector as a physical contact industry is undergoing a lot of reforms as part of global containment strategies, which have forced countries to design protocols for players in the sector. COVID-19 has affected the aviation industry worldwide, and by extension, it has greatly affected our industry, especially in the area of revenue. It’s a very expensive virus which has crippled a lot of activities, many families witnessed distortions due job losses and half pay. But I believe it’s a matter of time, things will return to normal.

    How is your organisation addressing the challenges brought about by COVID-19?

    In terms of performance, we refused to let the pandemic affect us. We are still doing what we normally do, COVID-19 or not. We still ensure we deliver on our mandate, We ensure we do what we have to do, but the only problem is funding. COVID-19 has affected our revenue greatly.

    You know our source of revenue is from the three per cent we get out of the  five  per cent that the regulatory body, Nigerian Civil Aviation Authority (NCAA), collects from the Ticket Sales Charge/Cargo Sales Charge (TSC/CSC). So, in terms of affecting us, it has in the area of funding. We are getting lesser funds from our statutory source. But, in terms of delivering on our mandate, it does not affect us in any way.

    What plans do you have to expand the scope of the bureau in probing accidents involing other modes of transportation?

    There is a proposed Bill at the National Assembly for AIB to investigate other accidents. At the House of Representatives, this Bill has passed the second reading; we are waiting for a public hearing on the Bill. At the Senate, we are waiting for a second reading and public hearing. Thereafter, it will be sent to the President for assent. For us, in air transport we have been able to mitigate many risks; we have managed to learn from our mistakes in serious incidents. Aviation  is a highly-regulated industry, very expensive, highly technical, the fastest and the safest means of transportation and it is because of all the checks and balances. There is a difference between investigating for liability, criminality and safety. AIB has been investigating for safety, not for liability and it is the same we want to take to other modes of transportation. It is not about who is at fault, it is about how we can prevent re-occurrence. This is our core mandate and what we want to focus on. That is where we are, and it’s going to take effect as soon as we have the greenlight from the President.

    What are the peculiar challenges of accident investigation?

    Challenges could come in four major areas: equipment, infrastructure, human capital and systems, processes and procedures. I always say that if you score less than seven out of 10  in any of the four areas, you still don’t have a company. If you have the best equipment and you don’t have manpower, you are not going anywhere. And if you have the best manpower, equipment, but you don’t have a good infrastructure and there are no systems and procedures to help them navigate their workings, you are not going anywhere. So, those four areas, I will say, we had huge challenges in them when I assumed office a few years ago. Of course, the pillar of all the four is funding, but with the support of the Aviation Minister and the National Assembly, we have been able to navigate around those.

    How expensive and cumbersome is accident investigation?

    No two accidents are the same; they may look the same, but there are no two accidents that are the same. Also, in terms of costing, I don’t think I have been able to break it down to an exact figure. So, I will not be able to give you the exact figure, but I can describe the process for you. The accident will determine the cost. Sometimes, we have to send an engine back to the manufacturer, they call it engine teardown. So, we have to factor in the cost of shipping, and estacodes the engineers that will go with it. What we want to ascertain is wether the  engine was producing power at the time of a crash. So, there are several things that can push up the cost in accident investigation. It is a painstaking process, very detailed exercise, tasking and, sometimes, it can be daunting because you must get it right. This is what accident investigation is all about. You must ensure whatever fact you put out there, you have enough evidence to back it up and this is why we go through so many processes, depending on the crash. We get support from engine manufacturers, airframe manufacturers, and from some countries because it can be very complex sometimes.

    Besides flight safety and material science laboratories secured by the AIB, what  other projects are you pursuing?

    Currently, the Federal Executive Council (FEC) has approved the construction of AIB headquarters and AIB training school in Abuja. These projects have started; we have two laboratories – flight safety and material science. For the material science laboratory, it’s work-in-progress because we want to transform the material science lab into an avenue for making money. We cannot charge for what we do. We don’t charge for accident investigation; we don’t invoice anybody. We can look for little areas where we can use our resources to make money. That is the way we are going so that we are able to address the issue of funding.

    How important is collaboration with other agencies to AIB?

    It’s a very serious issue and I will be honest, it can be frustrating sometimes because some agencies of government don’t really understand the need for collaboration. They don’t understand why we are pushing for cooperation. I will give you an example, God forbid an aeroplane drops into the sea, AIB doesn’t have the capacity for sea divers to retrieve any wreckage or black boxes, but the Nigerian Navy does. In the last few years, I have been pushing the Nigerian Navy to sign a Memorandum of Understanding (MoU) with AIB. It is not the day that we have an accident that we will start looking for who to call. This is the essence of these MoUs. Recently, we signed an MoU with the Nigerian Air Force and one of the benefits  is that the aircraft could drop off anywhere; bad terrain, difficult terrain that we cannot access. The Air Force can help us with the logistics. We, too, can be of help to the Nigeria Air Force because we have a world-class safety lab in Abuja, rather than the Air Force sending their black boxes overseas for download, they can use our lab in Abuja to do the download and save our country some costs. At the end of the day, it is to the benefit of the entire nation. Even the National Emergency Management Agency (NEMA), we have been on the issue of MoU with them since 2017; we are still talking and that is what I mean by saying sometimes it can be frustrating. AIB is not Akin Olateru’s company, it is a Federal Government agency; we have a mandate. We have got some recognitions from some organisations like the Federal Road Safety Corps (FRSC), you could see the way Lagos State Emergency Management Agency (LASEMA) performed during the last accident and that is why we are taking it further to sign an MoU with LASEMA to see how we can train their staff on how we work; what we expect from them when there is a crash. We have done a lot of training with the Nigeria Police as the first responder. We have trained Civil Defence, but like the Nigeria Police, I am still waiting for the MoU to be signed. I agree with you that it is 100 per cent important for relevant agencies to come together and work as a team. There is no confusion as to everyone’s roles. We all have independent roles to play, but when we work together we can deliver a much-better, coordinated service.

    Do you agree with the use of drones for investigating accidents?

    The AIB has not deployed any drone in investigation of any recent accident, including that of the helicopter operated by Quorum Aviation. No, we didn’t. AIB is a responsible agent of government. We can’t flout government rules and regulations. To operate a drone, you need a licence and we are yet to sort that out with the NCAA. In getting the licence, part of the requirements is to train your people on how to handle the drones, which we have satisfied. The operator has to be licensed by NCAA. So, we are in the process of normalising our documentations. That is one thing we do here, we see how we do it and how we can better or simplify the processes or get a better result from better performance.

    Is AIB thinking of how it can generate revenue like other agencies in the industry?

    Under the United Nations (UN) Charter, we cannot charge for our services, which is accident investigation and it’s our core mandate. But, there is nothing stopping us from looking at other areas. I have made mention of the material science lab; we have signed MoUs with the University of Lagos, University of Ilorin and we are talking with a university in the United Kingdom on the things we need in this material science laboratory so that we can start earning money from it. The training school is another source we hope to earn money from. Of course, we are looking for a way or ways of improving our funding position.

    Will the coming on stream of the AIB Training School not be in conflict with that of the Nigerian College of Aviation Technology (NCAT)?

    First and foremost, we are doing this in conjunction with NCAT, we are not licensed to train, but NCAT is. We developed this curriculum together with great input from world-class institutions around the world, because this is new to NCAT as well. Once the training school is built, we will move in. We want to produce world-class training; that’s what we are trying to achieve so that we can get the best from what we are trying to do.

    What should the industry expect from the bureau in five years?

    I will like AIB to be rated a minimum of eight in each of these – equipment, infrastructure, human capital and system processes and procedures. Also, I would like to make AIB an enviable place to work in. I would like to make AIB a world-class institution. These are the things I would like to achieve before I take a bow. The first thing that drives me is value-addition. If I am not adding value to things, I don’t feel fulfilled: I like making positive change and impact. As I am achieving, I keep going; it is something that makes me happy.

     

  • ‘Customs automation  will facilitate trade,  increase revenue

    ‘Customs automation will facilitate trade, increase revenue

    Webb Fontaine Nigeria, an IT firm, was instrumental to successes recorded during the early years of the Nigeria Customs Service (NCS) automation. The firm created the NCS Integrated System (NICIS II) – a platform that has been adopted as a home-grown ICT innovation for Nigeria. In this interview with reporters, its Managing Director, Opeodu Babalola, who manages the company’s solutions in Nigeria, speaks on various ICT solutions being implemented by some government agencies, ease of doing business and trade facilitation. MUYIWA LUCAS was there.

    Criticisms have continued to trail the $3.1 billion automation deal of the Nigeria Customs Service (NCS). What is Webb Fontaine’s position on this?

    We don’t know where those reports are coming from and have no part in them. I have read them and was surprised to see Webb Fontaine’s name prominently featured. We are investigating the source of the media reports. We won’t in any way support a narrative that shows tendencies to discourage modernisation progress or against the work of the Federal Government of Nigeria to enhance revenue collection and border security. From what I have seen, the huge amount is to be brought in by the private sector. We have no issues with Bionica or their plans and we have neither initiated nor asked to be joined in a lawsuit against them. Let me say here, that Webb Fontaine is fully supportive of the Federal Government’s move to continue and improve upon the modernisation and full automation of the Nigeria Customs Service and its processes. This will help to facilitate trade, increase revenue and enhance national security, and improve Nigeria’s standing in the World Bank’s Ease of Doing Business indices. This has been our focus and we have remained consistent with this over the years.

    To what extent would you say your firm has worked with the NCS?

    Webb Fontaine was appointed by Nigeria Customs Service to implement a Customs-centric Single Window Portal. This encompasses the delivery of Webb Fontaine’s Customs Webb, Customs Management System nationwide as the Nigeria Customs Integrated System (NICIS II). NICIS II has been adopted as a home-grown ICT innovation for Nigeria Customs electronic platform. We have impacted in capacity building through training and retraining of Customs officers, some port users and other government employees.  Specifically, on ASYCUDA ++ we trained 2,804 persons; on NICIS I & II we trained 10,260; on Database (Oracle) 36 and System Administration, 30. We brought a group of experts to talk at a webinar aimed at ensuring seamless trade transactions across our ports during the lockdown. Customs’experts like Stephen Adekunle Oloyede, Comptroller, Risk Management at the NCS and Apeh Fateh, Assistant Comptroller for ICT and Head of the Implementation Team, who took a ‘deep dive’ into the major issues facing global cross-border trade, debated the disruptions caused by the implementation of health and safety protocols at the webinar. They explored new concepts to improve the industry by introducing greater efficiency through technology, and the simplification of processes and checks. Nigeria Customs Service is already doing so much in the digital space, including application of e-form M, their revenue has experienced appreciable increase. The NICIS II has been recognised as a credible digital trade platform by the World Trade Organisation and the World Customs Organisation.

    The Covid-19 pandemic has taken a toll on trade and logistics. How best do you think it should be managed in your areas of operations?

     

    Opeodu BabalolaNavigating the complex world of logistics, international Customs and global supply chains in the post-Covid-19 era will require government agencies and the private sector to embrace new methods that prioritise digitalisation. We strongly recommend knowledge sharing and to streamline complicated and outdated processes for the benefit of all. Knowledge sharing will come with multiple benefits like increase in government revenue, support for trade and strengthening security in many ramifications. As a good corporate citizen, we also supported the Federal Government’s battle to prevent and manage Covid-19 with donations of equipment.

    Other areas we touched in preparing for post-Covid-19 era are revenue collection, risk management inspections, passenger screening, client segmentation, movement of goods, regional and international connectivity, border management, crisis management and digitalisation. We placed emphasis on digitalisation as the world begins its journey to recovery and continues to adapt to the health safety rules now required for post-COVID-19.

    During the lockdown, there were complaints of systems failure in IT. How effective was your platform at this period?

    The Customs IT platform operated robustly throughout the period of reduced movement. The NCS generated N976.6 billion between January and August, despite the pandemic, which led to the shutting down of the country in March. They were able to adapt and be prepared for optimal operations even in the midst of the COVID-19 crisis. Throughout lockdown, the NCS maintained its revenue performance, which may not have been the case for other government agencies. While the NCS revenue target changes from year to year, it was initially slashed in 2020 because of the expected revenue shortfall due to Covid-19. However, the collections up to May, this year were greater than last year’s total for the same period, and NCS achieved well over 60 percent of the target. NCS has shone a light on how important a digital-led Customs approach is, and in many ways is leading the way. With plans to get more automation as recently approved by the Federal Government.

    Tell us about your other operations

    We are also providers of IT & Telecom infrastructure for Nigeria. So far, we have trained over 10,000 Nigerians on various aspects of ICT-aided trade procedures. Other training sessions undertaken by us include SO Class for 6; Java 84; Help Desk, 213; Support, 26 and Networking 20. Our e-government software products, information and telecommunications technology and infrastructure services, peripherals and consumables, business process reengineering and standardisation have been applied successfully across various government agencies. Our services synchronise well with the Federal Government’s Ease of Doing Business and Trade Facilitation policies. We have always demonstrated commitment to helping government succeed in the drive to promote efficiency, time saving and transparency in the conduct of its businesses.

    A lot of private sector operators have also found our support invaluable because of our culture of international best practices and promotion of legitimate way of doing things. It is pertinent I state that we are a company with international reach that has impeccable track records of providing trade solutions in several countries; we have demonstrated adequate capacity.

    How do you sustain this record and continually ensure international best practice?

    Very simple! We have created a report to continue the knowledge and ideas sharing. The report, as contained in a White Paper which examines how international best practices can be incorporated into all aspects of the country, particularly in emergency situations, and recommends possible routes of action in critical moments. It draws conclusions from lessons learnt globally and how these can be integrated into a detailed package of procedures to enable a smooth transition towards recovery and the resumption of normal business functions. The White Paper outlines a number of important recommendations and findings. The White Paper produced at the end of the programme examines how international best practices can be incorporated into all aspects of the sector, particularly in emergency situations, and recommends possible routes of action in critical moments. The report also draws conclusions from lessons learnt globally and how these can be integrated into a detailed package of procedures to enable a smooth transition towards recovery and the resumption of normal business functions.

  • Benjamin Justice Soghie: A model for youth and community engagement

    Benjamin Justice Soghie: A model for youth and community engagement

    Benjamin Justice Soghie is a significant figure in Nigeria, embodying the roles of entrepreneur, philanthropist, and spiritual leader. 

    His multifaceted approach to life and work highlights the importance of these roles in driving social change and fostering community development. 

    Entrepreneurs like Soghie play a crucial role in the economy by creating jobs, innovating solutions to societal challenges, and stimulating local markets. 

    His ventures across various industries demonstrate the potential for business to not only generate profit but also to address pressing social issues.

    As a philanthropist, Soghie emphasizes the importance of giving back to society. His initiatives focus on improving the lives of underprivileged individuals and families, reflecting a commitment to community welfare that resonates with many Nigerians. 

    Through funding educational programs, supporting local charities, and mentoring young entrepreneurs, he has actively contributed to uplifting those in need. This aspect of his work serves as a powerful reminder of the impact that individuals can have when they prioritize social responsibility alongside their professional endeavors.

    In his role as a pastor, Soghie merges spiritual leadership with practical guidance, providing a holistic approach that nurtures both the emotional and practical needs of his congregation. 

    His ability to connect with diverse groups fosters a sense of community and belonging, which is crucial in a rapidly changing society. By addressing both spiritual and societal issues, he offers a model for leadership that transcends traditional boundaries, encouraging a more integrated approach to personal and community development.

    For Nigerian youth, Soghie’s journey serves as an important example of how one can balance professional ambition with a commitment to social impact. In a country where many young people face significant challenges, his life illustrates the potential for individuals to effect meaningful change through their actions and choices. 

    By emulating Soghie, young Nigerians can learn the value of integrity, hard work, and community service, essential traits for fostering sustainable growth in their own lives and the lives of others.

    In summary, Benjamin Justice Soghie’s contributions as an entrepreneur, philanthropist, and spiritual leader underscore the vital roles these positions play in enhancing community welfare and promoting social change. 

    His life and work exemplify the potential for individuals to make a difference through a balanced approach to personal and professional development. 

    As Nigeria continues to face various challenges, the example set by Soghie provides a roadmap for young people seeking to create positive change in their communities. 

    Emulating his values and actions could lead to a more socially responsible and engaged generation, poised to tackle the issues of today and tomorrow.

  • ‘How we will grow insurance to N1tr in two years’

    ‘How we will grow insurance to N1tr in two years’

    One year into his tenure as Commissioner for Insurance, National Insurance Commission (NAICOM), Sunday Thomas says the race to situate the industry has remained his uppermost priority. One way to attain this, he explains, is to grow the premium income to N1 trillion within two years. This is aside the skill upgrade for practitioners and staff through the establishment of an Academy. Thomas, in this interview with OMOBOLA TOLU-KUSHIMO, speaks on this and other issues affecting the industry.

     

    What is your assessment of the sector, especially with Coronavirus Disease (COVID-19)?

    The potentia of the insurance sector is huge.We have found ourselves where we are not by reason of inaction by my predecessors but probably the environment was not too conducive to get certain things done. The environment changes from time to time. So, we are leveraging a fairly-good environment to see how fast we can run. This is why it seems as if we are running so fast. Although the COVID-19 pandemic has slowed us down, we are trying to do everything in our capacity to forge ahead.

    Micro insurance is one key area the Commission has identified for development. But progress in this area seems slow. Why is this so?

    It is one of the areas we want to fast-track the process. We have a couple of applications that we should be able to conclude soon. One thing is for you to initiate something, another is for others to see the viability of the vision. We have this but people seem to be catching up with us in terms of our vision and their understanding of these vision. For us, micro insurance in financial inclusion generally is the way to go. Financial inclusion is going to help us and it is going to drive penetration. I believe that with the way we are going about it, things will get better. We are trying to rejig the  guidelines to be more realistic. What we had before in the guidelines issued about six years ago was the National, State and the Unit licensing of micro insurance companies. The amount of capital required for some sectors is looking unrealistic and we may have to thinker with it.

    Will it be reduced?

    No, it can’t get lower because if you look at the unit which requires N40 million or there about, what can it do when you want to establish a sustainable company. But it looked adequate as at the time it was conceptualised but obviously it is no longer adequate. The exchange rate was about N160 to a dollar; now it is N380 to a dollar. This does not seem good to drive the business from a sustainable basis. So, we are looking at it. So far, we have two that are state’s and one that has a national outlook which is Consolidated Hallmark. Already, the company has insurance culture. The national company is required to operate with N600 million and, of course, it will not be adequate. So, we still believe that we need to do much more in micro insurance and financial inclusion in general, for us to get the desired penetration. We know that only 1.5 million Nigerians have one form of insurance cover or the other.

    Has the figure changed?

    Certainly, the figure has changed but not as substantial as it should be. With little enforcement that is being done on motor insurance, for example, many are coming into the net. Of course, we need to do much more than we have ever done before because the number has changed significantly. You will recollect that in the last three years or so, we have been hovering around  N400 billion premium. I believe that in the next two years, we must make a remarkable change. If we cannot hit a trillion naira in the next two years, we should reach half a trillion. We must hit 50 per cent increase over what it is now. In which case, we should be talking of N700 billion instead of still dancing around N400 billion which is not progress. Actually, we should be in the realm of N1 trillion in the two years.

    Regulators and stakeholders across the world have identified mobile telephony transaction as growth booster. But this has been stalled in Nigeria due to prolonged discussions between concerned regulators. How far has NAICOM gone with this?

    We are close to it. The Central Bank of Nigeria (CBN), the Nigerian Communication Commissions (NCC) and NAICOM have been meeting. Essentially, CBN and NCC and, of course, occasionally, NAICOM is brought into the discussion. They are close to resolving this matter. I must also sound a note of warning that technology will not automatically translate to efficient service delivery in the sense that financial inclusion requires attending to the needs of the lower end of the pyramid. But how many people are actually transacting business using technology? A majority of them still try to go to banks. In which case, brick and mortar is still very relevant. Even as popular as banking is, you still find banks opening branches around despite being technologically driven, so how much more in a sector that is doing catch up in terms of trust. Will somebody in my village buy insurance using technology when he doesn’t know who he’s talking to, or where his money is going to and what value will they deliver in his hand. So, it’s going to be difficult. But as a distribution methodology, I go for technology. You can use it to distribute to those who already have knowledge of products. Again, one other factor you will need to look at is the issue of financial literacy , which is very low. Even an average Nigerian, who is educated and have the financial power, don’t even understand what insurance is all about. And that is why this year, as a Commission, part of our development effort is to carry out a lot of awareness creation. We will be quite heavy in creating awareness, selling the benefit of insurance on a wholesale basis. We will be visiting all the states. We’ll follow through with the mechanisms of the state and we will be able to sustain it.

    What are the mechanisms for sustenance?

    First and foremost, we must have our offices in the places we want to visit. Secondly, relevant committees will be set up in the states. Three, there is a role unit that will monitor the performance in the state. With this of course, the mechanism of the state will be fully deployed for enforcement and we believe that is going to make a difference.

    Some stakeholders believe that  the Commission has not achieved much in compulsory insurance enforcement. What is your take on this?

    When I hear this, I respond by saying that we must do this in a way that there is a difference between regulation and the job of law enforcement agencies. We are the regulator and we have a responsibility for sensitising the relevant enforcement agencies. But we must do this in a way that will still identify that there’s a difference between regulation and the job of the law enforcement agencies. For example, NAICOM cannot go and say they are checking licence or any other vehicle particulars. But it can sensitise the relevant agencies by collaborating with them to do just that. All these things we tend to do as part of our awareness creation. It is going to be on a sustainable basis.

    It appears the Commission is going back to Market Development and Restructuring Initiative (MDRI)?

    Yes. We are re-jigging MDRI for sustainability. We believe that MDRI is a good concept, well- thought out and put together but we are enhancing it. Part of the enhancement is to get agencies of states involved and get the supply end of the team to be available because we don’t just want to cultivate the demand side but part of the supply side. This is why at one of the fora when I spoke to the industry, I told them they can create a consortium if they think it might not be too profitable for them to have individual branch. They can come together as a group participating in the premium and risk that may come from that particular area.

    The Commission is trying to establish an insurance academy. What are its objectives?

    The academy, essentially, is to train regulators. Just as the market is bereft of a human capital, we also have capacity issues. And so, we found out it is cheaper for us to bring somebody from the United States and more developed insurance regulatory jurisdiction, to bring them here to train 20 or 30 people than to send 10 abroad. I think for us it is more economical. Above all, we are convinced that knowledge sharing should be  continuous. So, it is one of those things we want to do as frequently as possible.

    Do you agree that the Commission does not have the capacity to regulate the industry effectively?

    There are two areas you will be looking at when you are talking about capacity. You will talk about the number and skill. We are conscious of the number, hence the recent engagement of some people for recruitment. We believe this should be able to bridge some gaps. The second, which is skill acquisition, is the reason we are establishing the academy. This will improve the knowledge of our staff and practitioners. They will know of developments and will be conversant with our responsibilities. We believe the academy should be the game changer. The most dreadful issue for operators now is recapitalisation.

    What is the status of the industry going by total asset, premium income and others?

    In terms of premium, the provisional figure for 2019 is about N470 billion. The asset is about N1.2 trillion. Claims that have been paid is about N336 billion. For me, these figures are not necessarily too bad, but I think we need to step up our activities to make sure that we make a way. Of course, the increase or volume is about 15 percent or thereabout.

     

  • Oyedemi bags doctorate degree

    Oyedemi bags doctorate degree

    Our Reporter

    Property guru and managing Director of PWAN Plus and Business Concerns, an affiliate of Property African Network (PWAN Group), Julius Olaniyi Oyedemi, has added another feather to his sprawling list of outstanding accomplishments.

    He was decorated with an honorary Doctorate Degree by the American European University, for his distinguished achievements in real estate development and management.

    Perfecting the honorary conferral, at the prestigious LandMark building, Lekki Lagos recently, the Pro-Vice-Chancellor of the international institution said: “In consideration for the outstanding achievements of Julius Olaniyi Oyedemi in real estate development and management which has positively impacted lives and contributed to the socio-economic development of the country Nigeria, the Senate of European American University hereby confers on him the award of Doctor of Science (D.Sc) in Real Estate Development, Business Strategy and Corporate Governance, with all its rights and privileges of the University.

    Dr Oyedemi, who is a trained Electrical/Electronic Engineer from Madonna University, Anambra State, has several other professional certifications to his catch of knowledge. A member of the Chartered Institute of Public Diplomacy and Management, Oyedemi is also an alumnus of the famous Lagos Business School.

    READ ALSO: PWAN Plus unveils Lush City in Abia

    In his official and personal capacity, Dr Oyedemi has won serial awards for his pacesetting innovations, excellence and impact in the real estate sector. Some of the awards include the Nigerian Property Merit Award, Real Estate Excellence Award 2017, and the Nigerian Real Estate Industry and African Child Prize for Impacting the Nigerian Child through Real Estate. In 2018, he became the recipient of the prestigious Real Estate Excellence Award for the Most Enterprising Managing Director of the Year.

    While appreciating the honour done to him by the European American University, Dr Oyedemi advised youths in Nigeria to shun any form of the illegal get-rich-quick lure. His words: “Rather embrace honourable wealth creation initiatives. The real estate sector offers several of such innovative opportunities. This is the time for us to create the new Nigeria of our dream,” Dr Oyedemi. Further counselled.