The Nation Newspaper

Tag: Experts

  • Experts laud keeping of reserves in Chinese Yuan

    Nigeria’s decision to put 10 per cent of its $47 billion reserves in Chinese Yuan has been described as wise and strategic by global investment experts. Other currencies in the basket are Euro, Pounds and Riyal.

    Speaking at a trade and investment in global market forum in Lagos, Amro Zakaria, Managing Director, Market Trader Academy (MTA) in Dubai, United Arab Emirates, said China is one of the biggest trading partners of Nigeria and such diversification would protect the naira from currency war going on between Japan, Europe and America. Japan’s plan to devalue its currency to give its economy a boost is being opposed by Europe and America.

    Zakaria said aside reserves diversification, Nigeria should also diversify the economy away from oil, having discovered that its biggest buyer, the United States will achieve energy independence by 2020.

    He said though the country may identify new buyers of its crude oil, the most dependable and trusted buyer, the United States, may not be there anymore.

    He said Nigeria’s best resource remains its youths, adding that with proper education, the country’s development will no longer be dependent on oil.

    The expert said the company is committed to educating the youth on how the global market works. Besides, he said there is need to carry the campaign to schools and higher institutions. He said it is also imperative for the youth to tap into the global market and explore opportunities there. This, he said, can only be possible if there is improvement in education and communication among the youths.

    The expert explained that learning about global markets and economic trends through education will afford Nigerians the opportunity to diversify their investment portfolios and to compete effectively in an ever globalised world.

    Describing Nigeria as an emerging market with lots of potentials, he advised that trading and investments in global equities, precious metals, forex, etc will further empower the people and improve their chances in mitigating adverse effects caused by current and future global events.

    Chief Business Development Officer, World Wide Markets Limited (WWM), in the United States, Steven Santamouris, who spoke on Learn to trade and invest in global markets, described World Wide Markets as one of the leading brokerage firms offering access to global markets including “exchange traded US equities.”

    Santamouris said clients should be armed with a true and detailed understanding of how the FX Brokerage business operates from the inside out.

    He described WWM partnership with the Market Trader Academy as strategic, saying it would provide the Academy with the necessary technical expertise for traders to navigate the volatility of the markets through knowledge of those markets as well as risk management strategies.

     

  • Experts: African airlines may die by 2050

    Experts in the aviation industry have raised the alarm over the possibility of carriers facing extinction by 2050 because of their inability to merge.

    They predicted that by 2050, only 12 airlines would remain in operations in the globe.

    The experts spoke at the Nigeria Aviation Summit in Lagos last weekend.

    They affirmed that though merger and consolidation have gained ground in the global aviation industry, airlines in the continent are still foot-dragging on the arrangement, which commenced in United States of America, in 1930.

    The convener of the event, Mr Gabriel Olowo, in his speech entitled, A dozen world airliners by 2050, emphasised that Nigerian and African airlines face trouble if they do not embrace mergers and consolidation.

    He explained that the revenues of the three biggest airlines in the continent, Kenyan Airways, Ethiopian and South African Airways, put at over $3billion are about 35 per cent of the yearly revenue of Emirates Airlines.

    He added that efforts to ensure merger and consolidation among the continent’s carrier had failed in the past, adding that mergers or consolidation could not be achieved by government coercion.

    He lamented the precarious situation of the airlines, saying that there are only 57 aircraft in the fleet of the carriers while an airline, such as South African Airways has over 67 aircraft.

    He said: “Nigerian airlines are at the bottom level of success. The six airlines that we have in operations are in the lowest rung of the ladder in terms of revenue, service delivery and good business model.

    “Business climate is shifting from the West to Africa, when that shift comes, the continent’s carrier may be caught napping.”

    Dr. Tony Kila, one of the speakers at the event, noted that for the continent’s carriers to remain in operations by 2050, they need to engage in training of their manpower.

    The former president of the National Association of Nigerian Travelling Agencies, NANTA, Mr Soji Amusan, emphasised that customer satisfaction, quality services, productivity, profit and cost control would not happen by themselves, but the stakeholders in the industry would have to make them happen.

     

    He said, “The level of team work among people determines the success or otherwise of the company. There are about 35 training schools in Lagos alone and out of these numbers, only six are certified by IATA despite the claim of the schools that they were approved by the government.”

    The Managing Director, Overland Company, Capt. Edward Boyo also observed that Nigerian airlines would remain behind in global aviation industry unless they cooperate in the form of merger and acquisition, which he said was the norm globally.

    “Mergers enable growth, increase the market shares, increase values for customers, increases credit worthiness for the airline and enhances market perception of the airlines. However, merge can not be done by government coercion. It has to be marriage of willing parties and there should be trust.”

     

  • Experts seek solution to bad debts

    ADON, Prof. Bola Okuneye, has urged businesses to rise up to the challenge posed by their bad debts by taking action to bolster their balance sheets.

    Okuneye, a Professor of Agricultural and Environmental Economics, Department of Agricultural Economics and Farm Management, Federal University of Agriculture, Abeokuta (FUNAAB), said economic recovery was in danger of being hampered unless businesses took action.

    Okuneye said borrowing costs had risen significantly, raising concerns about their ability to repay their debts.

    He said the problem was serious and that the government and business should reckon with a long period of low growth.

    At the heart of the problem is a massive overhang of debt left over the years, from big and small businesses. With these debts, Okuneye said, businesses were struggling to stay afloat.

    The potential for rapidly escalating interest payment on loans is one of the wrenching challenges facing business living beyond its means.

    Also, the Director-General, Kaduna Business School,Dr Dahiru, said increasing business debts were unsustainable. He said increasing numbers of businesses experiencing financial worries, were in such situation because of poor budgetary management.

    He said the government needed to take a hard look at the terms and repayment rules for loans, and the industry might have to develop a new lending model to prevent a bad situation from getting out of hand.

    He said it was not correct to blame rising costs of living and government policies for pushing them into the red.

    He admitted that the government regulations might have little impact, but that poor strategic response to the economy was contributing to prolonged effects of the squeeze taking their toll on the nation’s finances.

     

     

     

     

     

     

  • EXPERTS BLAME MIKEL FOR CHELSEA’S POOR PLAY

    EXPERTS BLAME MIKEL FOR CHELSEA’S POOR PLAY

    •Says Eagles star provides

    less tackles, fewer blocks

    •Less interceptions, fewer passes too

     

    NIGERIA’S John Obi Mikel poor run in Chelsea midfield may be blamed for lack of spark in the midfield despite their 1-0 win over Manchester United in Monday’s 6th round replay at Stamford Bridge.

    According to reports coming out of London, the Nigerian international that was at a centre of controversy following his move from Lyn Oslo to the English Premier League in 2006 have not played at his best especially his back-pass moves in the current campaign.

    “John Mikel Obi was meant to be the future of Chelsea when they won a controversial transfer battle with Manchester United to sign the Nigerian midfielder in 2006, and his performances in the 2009-10 title winning season justified that claim.

    “He doesn’t seem to have kicked on, though – as evidenced by his relegation to the second choice side Rafa Benitez picked at Southampton to protect his star players for the FA Cup clash with Manchester United.

    “Still only 25, his Opta stats for this season compared to three years ago show less tackles, less blocks, less interceptions and fewer passes in the final third. Is it one of the reasons Chelsea have lost ground in the Premier League…,” queried MailOnline experts while running through last weekend’s football actions.

  • Experts call for end to Tuberculosis

    Medical experts have said Tuberculosis (TB) is curable and its treatment is free in most government hospitals across Nigeria.

    They spoke yesterday at this year’s World Tuberculosis Day, organised by the Nigeria Institute for Medical Research (NIMR), Yaba, Lagos, and Journalists Against AIDS (JAAIDS).

    The theme of the commemoration was: Stop TB in My Life Time.

    The experts, including the former Director General of NIMR, Prof Oni Idigbe, said TB is a public health concern which everybody should prevent and get the treatment for.

    Prof Idigbe, a frontline researcher whose works serve as reference points to the disease, noted that people need to be aware of the possibility of cure so that the problem of drug resistance can abate.

    NIMR’s Director-General Prof Innocent Ujah said Tuberculosis is a major and escalating public health problem as evidenced by its high incidence and association with the Human-Immuno Deficiency Virus (HIV).

    He called attention to the increasing incidence of multi-drug resistance of mycobacterium tuberculosis to the traditional anti-bacterial drugs.

    According to him, such drugs are cheap and, therefore, affordable.

    The academic explained that prevention and control of TB are achievable in a life time through awareness creation and tests.

    Ujah said Nigeria shares the vision of a Tuberculosis-free world by reducing its incidence through the introduction and expansion of the Directly Observed Treatment Short-Course (DOTS) to enhance compliance to the treatment protocol, the control of Multi-Drug Resistance TB and integrated HIV/TB care.

    JAAIDS Executive Director Olayide Akanni said there is need for more attention to TB.

    “Most people are not aware that the disease exists; even the few people who know about it are ignorant, believing it is a demonic or witchcraft attack. It is good to go for proper tests early, and getting the required treatment for TB is crucial to stop the epidemic in our life time,” he said.

    Lagos State Commissioner for Health Dr Jide Idris said efforts by the World Health Organisation (WHO) to halt and reverse TB epidemic by 2015 has been achieved in the state.

    Idris added: “As new cases of TB are declining, its mortality rate has decreased by 41 percent and the world’s target to achieve 50 percent reduction by 2015 would be achieved.”

    The Commissioner who was represented by Dr Omowumi Bakare said, “the Lagos State TB Control Programme has 215 Directly Observed Treatment Short-Course (DOTS) centers and 55 TB microscopy centres which are all over the local government areas in the state and can be found in all levels of health care and in all types of health facilities. The target of the DOTS centres which is only about 25 percent aims to reach 85 percent.”

    Dr Dan Onwujekwe, Clinical services, Nigerian Institute of Medical Research said a National TB control programme that are challenged with a high burden should adopt innovative ways to reach more patients with affective treatment, adding that a well managed once a week health worker observation of treatment, backed by strong laboratory component, can produce cure rates as high as DOTs.

  • Experts stress need for safe abortion

    Experts stress need for safe abortion

    STATISTICS have shown that safe abortion procedures have contributed significantly towards the reduction of high maternal mortality rate globally, according to experts.

    Speaking at a week-long training which ended in Lagos yesterday, Dr. Moses Alao of the Federal Medical Centre, Abeokuta, said, it is disheartening to note that “Nigeria, which is just one per cent of the world’s population contributes over 10 percent to the maternal mortality rate globally as a result of pregnancy-related complications among other factors.”

    Thankfully, he said, “Safe abortion procedures administered by skilled health personnel have helped to drastically reduce the soaring maternal mortality rate globally.”

    Of necessity, Dr. Alao stressed, “is the need to review our obsolete abortion laws, which tend to criminalise those who procure abortion and this further drives people to solicit abortion from quacks thereby endangering their lives. We cannot afford to be left out in the global drive towards reduction of maternal mortality.”

    Echoing similar sentiments, Dr. Olajide Johnson of the Nigerian Navy Reference Hospital, Lagos emphasised that safe abortion techniques recommended by the World Health Organisation (WHO) and other global bodies have been well-received by other countries, adding that it is high time health practitioners in the country acquire the right skills set for the application of such techniques for the benefit of their patients, who according to him, have had to subject themselves to illicit abortion by quack health personnel.

    Speaking earlier, Dr. Abdulhafiz Ishowo, Service Integration Technical Specialist, Partnership for Transforming Health System (PATHS2), while justifying the theme of the workshop tagged: “Safe Abortion/Post Abortion Care,” an initiative of PATHS2 and the Lagos State Ministry of Health, said it was aimed at equipping medical officers and nurses operating in 57 flagship healthcare facilities across the state with the right skills set in administration and management of abortion-related cases.

    According to him, participants are expected to step down the training at their respective healthcare facilities, even as he hinted of plans by the organisers to put in place a supportive supervision/mentorship programme to monitor the progress of the participants for the duration of eight months.

  • Experts stress need for safe abortion

    STATISTICS have shown that safe abortion procedures have contributed significantly towards the reduction of high maternal mortality rate globally, according to experts.

    Speaking at a week-long training which ended in Lagos yesterday, Dr. Moses Alao of the Federal Medical Centre, Abeokuta, said, it is disheartening to note that “Nigeria, which is just one per cent of the world’s population contributes over 10 percent to the maternal mortality rate globally as a result of pregnancy-related complications among other factors.”

    Thankfully, he said, “Safe abortion procedures administered by skilled health personnel have helped to drastically reduce the soaring maternal mortality rate globally.”

    Of necessity, Dr. Alao stressed, “is the need to review our obsolete abortion laws, which tend to criminalise those who procure abortion and this further drives people to solicit abortion from quacks thereby endangering their lives. We cannot afford to be left out in the global drive towards reduction of maternal mortality.”

    Echoing similar sentiments, Dr. Olajide Johnson of the Nigerian Navy Reference Hospital, Lagos emphasised that safe abortion techniques recommended by the World Health Organisation (WHO) and other global bodies have been well-received by other countries, adding that it is high time health practitioners in the country acquire the right skills set for the application of such techniques for the benefit of their patients, who according to him, have had to subject themselves to illicit abortion by quack health personnel.

    Speaking earlier, Dr. Abdulhafiz Ishowo, Service Integration Technical Specialist, Partnership for Transforming Health System (PATHS2), while justifying the theme of the workshop tagged: “Safe Abortion/Post Abortion Care,” an initiative of PATHS2 and the Lagos State Ministry of Health, said it was aimed at equipping medical officers and nurses operating in 57 flagship healthcare facilities across the state with the right skills set in administration and management of abortion-related cases.

    According to him, participants are expected to step down the training at their respective healthcare facilities, even as he hinted of plans by the organisers to put in place a supportive supervision/mentorship programme to monitor the progress of the participants for the duration of eight months.

  • Lagos hires foreign experts on real sector

    The Lagos State Government has hired Peruvian development research experts to address the challenges of the real sector.

    The Commissioner for Commerce and Industry, Mrs Sola Oworu, said the government’s action was informed by its determination to identify the people’s challenges and proffer solutions.

    She said: ”We all keep talking about the informal sector but we don’t know the size of the sector. So the idea is to find out how they operate and why these people have refused to move from the informal to the formal sector. Yes, they have problem of accessing funds.

    “Some of them may be sitting on several capitals (property) but that capital doesn’t have title and without the title, they cannot approach financial institutions in the formal sector for funds.

    “So, the thing we are trying to do in this programme is to find out the various constraints facing those in the informal sector. Why they cannot come into the formal sector. Whether it is paper work or the processes involved.”

    She said the experts would come up with a report that would proffer solutions to the problems.

    “If it means embarking on institutional reforms to remove the constraints, that will have to take place so that more people will move from the informal sector to the formal sector,” she said.

    The Project Manager from Peru, Enrique Diaz, said they have undertaken similar projects in some developing countries with positive results.

    He said in most of these countries, it was discovered that the challenges faced by informal sector players were similar, but solutions could vary depending on what obtains locally.

     

  • Experts hail govt on reserves

    Nigeria’s decision to put 10 per cent of its $46.5 billion reserves in Chinese Yuan has been described as a wise and strategic decision by global investment experts. Other currencies in the basket are in Euros, Pounds and Riyal.

    Speaking at a trade and investment in global market forum in Lagos, Amro Zakaria, Managing Director, Market Trader Academy (MTA), based in Dubai, United Arab Emirates, said China is one of the biggest trading partners of Nigeria and as such, diversification would protect the naira from currency war going on among Japan, Europe and America. Japan’s plan to devalue its currency to give its economy a boost is being opposed by Europe and America.

    Zakaria said aside reserves diversification, Nigeria should also diversify her economy away from oil, having discovered that its biggest buyer, United States of America will achieve energy independence by 2020. He said that although the country may identify new buyers of its crude oil, the most dependable and trusted buyer, the United States of America, may not be there anymore.

    He said Nigeria’s best resource remains its youthful population, adding that with proper education, the country’s development will no longer be dependent on oil.

    Zakaria said the company is committed to educating the youth on how the global market works. He said there was need to carry the campaign to schools and higher institutions. He said there was also the need for the youth to tap into the global market and explore opportunities there. He hinged this on improvement in education and communication among the youths.

    Zakaria explained that learning about global markets and economic trends through education will afford Nigerians the opportunity to diversify their investment portfolios and to compete effectively in an ever globalised world.

    Describing Nigeria as an emerging market with lots of potential, he advised that trading and investments in global equities, precious metals, forex, etc will further empower the people and improve their chances in mitigating adverse effects caused by current and future global events.

    Also, Chief Business Development Officer, World Wide Markets Limited (WWM), based in United States of America, Steven Santamouris, who spoke on Learn to trade and invest in global markets, described World Wide Markets as one of the leading brokerage firms offering access to global markets including “exchange traded US equities.”

    He noted that clients should be armed with a true and detailed understanding of how the FX Brokerage business operates from the inside out.

    He described WWM partnership with the Market Trader Academy as strategic, saying it would provide the Academy with necessary technical expertise for traders to navigate the volatility of the markets through knowledge of those markets as well as risk management strategies.

     

  • Early detection will save cancer patients, say experts

    •How to reduce cervical cancer burden

    Experts have advocated early detection as the best approach to cancer treatment.

    Led by the Professor of Radiotherapy and Oncology at the College of Medicine, Lagos University Teaching Hospital (LUTH), Remi Ajekigbe, they said late detection and poorly managed cancer have increased the number of Nigerians affected by the disease. More people, they added, are being killed by the disease.

    He said early detection is a major way to manage cancer.

    He said late detection is dangerous and often leads to death.

    Ajekigbe, who is a consultant, said no fewer than 10 new cases come to him at LUTH daily. “Only about 25 per cent of them survive while the other 75 per cent do not make it. This is because majority of them make hospital their last choice,” he added.

    “The first place patients go to when they have cancer is the church, mosque or traditional homes is when it is worse that they come to the hospital. This has been the reason for more deatghs from cancer in Nigeria.”

    On the cause, he said: “We do not know the basic cause of cancer, what we know is that there are certain factors that can lead to or increase ones chance of having cancer. We cannot predict nor change these factors; they include genetics, social, environment and occupational factors.”

    He further said: “We cannot determine the genetic factor. This is because we do not choose our parents nor decide the medical history of our family. People born into a family where cancer exists are at the risk of developing cancer someday.

    “Another factor is the social factor. This could stimulate what has been lying in the body to develop cancer. Cancer lies in the body but won’t come out until you do what you should not do.”

    Clinical Oncologist and Radiotherapist, Lagos State University Teaching Hospital (LASUTH), Prof Abiodun Popoola, said he sees five new cases of cancer weekly, adding that most of them were at the advanced stage.

    He said three out of the five cases are breast cancer, saying their survival usually depends on the stage of the disease.

    “Cancer is not a death sentence, it can be managed if detected early and treatment starts early but the advanced stage can be controlled and its management will determine the outcome’. It can be said that cancer cases are increasing due to the increased awareness,” he added.

    He identified common cancers to include breast cancer, cancer of the cervix, cervical cancer, prostate cancer and colon cancer.

    A radiotherapist and oncologist at Eko Hospital, Prof Kofi Duncan, said that early detection and treatment from the right medical personnel is crucial to reducing death from cancer.

    Duncan said intelligence and general awareness of the public will also help in reducing the spread of the disease.

    He said abnormal bleeding from the vagina swelling or lump on any part of the body as well as urinating or stooling blood are some of the abnormalities that can lead to cancer.

    Duncan stressed that people should go for proper diagnosis early enough once any unusual thing is noticed on the body.

    A senior lecturer, Community Health and Primary Centre, College of Medicine, University of Lagos, (UNILAG) Dr. Alero Robbert referred to cancer as a group of diseases characterised by the uncontrolled growth of cells that no longer function according to purpose.

    The growth of abnormal cells competes with normal cells for food and oxygen leading to even more problems for the body, she said.

    According to her, cancer cases are increasing in Nigeria. But, this may either be due to new cases of cancer as compared to the number of cases that occurred in the past; or because there is much more awareness and people are realising that when they are unwell or notice anything abnormal they should go to the hospital.

    Bolanle Tijani, a Principal Dietician advised cancer patient to eat fruits and vegetables and avoid fatty foods.

    She said: “They should eat plant made meals such as garlic and onions, spices and potatoes, green apples, carrots, beans, nuts and wheat bread, among others, would contribute to the recovery of cancer patients.”

    The Project Officer, National Cancer Prevention Programme (NCPP), Mr. Cletus Nwagu, said cancer is a disease like any other disease.

    He said prostate cancer kills 40 men in Nigeria daily while cervical cancer kills one woman every hour.

    “Cancer is not a respecter of person; it can affect anybody at any age particularly between the ages of 28 to 60,” he added.

    Meanwhile, many Nigerian women have come down to cervical cancer because of lack of awareness, ignorance, late detection and lack of proper treatment, Medical Director, Optimal Cancer Care Foundation, a Non Government Organisation, Dr. Femi Olaleye, has said.

    The good news, he said, was that it can be prevented if they go for regular screening.

    Olaleye spoke during a free cervical and breast cancer screening for market women, organised by his NGO in Lagos.

    He said there is need for increased awareness on cancer among Nigerians, especially among the illiterates.

    Olaleye said the disease is a gradual killer, which occurs when abnormal cells on the cervix grow out of control. The cervix is the lower part of the uterus that opens into the vagina, he added.