The Nation Newspaper

Tag: increase

  • Leadway records N137.3b assets, reports 125% increase in profit

    Leadway Assurance Company has posted a 37 per cent growth in assets to the tune of N137.3 billion in its 2015 financial year results from N100.5 billion in 2014.

    A review of its results presented at its 44th Annual General Meeting showed that the company recorded 125 per cent growth in the company’s profit after tax to N6.3 billon from N2.8 billion in 2014.

    The company also paid claims in excess of N14.3 billion, a 13 per cent increase from the N 12.7 billion record of 2015.

    It, however, wrote a 20 per cent increase in gross premium from N39 billion in the prior year to N46.6 billion.

    With good performance on its investments, Leadway reported a record 125% growth in the company’s profit after tax to N6.3bn from N2.8bn in 2014.

    Speaking during the presentation of the results, the Acting Chairman, Mr. Jeremy Rowse, stated that with various guidelines aimed at reinforcing standards and encouraging confidence in the Nigerian insurance industry, the company remains poised to take advantage of emerging growth opportunities to compete effectively within its immediate market and the larger global markets.”

    He further stated that as the Nigerian polity itself becomes restructured to tackle the myriads of socio-political, economic and infrastructural challenges facing it, the opportunity for increase in insurance penetration and contribution to GDP should increase.

  • ‘How to increase export market share’

    ‘How to increase export market share’

    The government should capitalise on the potential  of organic agriculture, improve product quality and packaging to capture a larger share of the export market, Niger State Coordinator, Mr. Hussaini Iliyasu, the Agriculture Graduates Association of Nigeria (AGAN), has said.

    Iliyasu,who gave the advice in Minna, the Niger State capital, during a forum tagged: Farmers’ Field Day, said there was a growing demand for organic products, adding that farmers could explore it.

    He said: “Going back to nature in food production as the alternative means in sustainable food security considering the benefit inherent in it are what motivated AGAN to demonstrate rice using organic/bio-fertiliser in collaboration with Contec Global Agro.”

    On the successes of the products, Iliyasu said: “The farmers’field day is to bring into limelight the achievements of farmers whose crop was under demonstration plots for analysing the efficacy of bio-fertiliser and bio-pesticides.”

    Continuing, he said: “There were 30 plots; one hectare each in five different villages. The results have been very impressive. Harvesting has started, and from the less than three tonnes per hectare, we are getting more than six tonnes, as we have experienced on the average, 70 tillers per plant as compared to 35-40 tillers per plant we were getting while using the conventional chemical fertiliser.

    “So, we are assured of increased economic yields per hectare of five to six tonnes per hectare compared to 1.5 – 1.8 tonnes per hectare that an average conventional farmer is getting.”

    Also, the representative of the farmers who participated in the experimentation, Alhaji Mohammed Mahmoud, said: “The evidence is there in the field for all to see and feel. I have farming neighbours who use the conventional products. They get on the average, 40 tillers per plant, whereas I get up to 60-70 tillers per plant.

    “You can see (pointing to his field) that there are no symptoms of insect infestation on my farmland. And very importantly, using the products has helped in cutting down the cost of production for us to as much as 60 per cent as against the past.”

    He said the time between planting and harvest was significantly reduced to less than four months as against the six months for conventional farming.

    Managing Director, Contec Global Agro, Mr. Thomas Chackunkal, said the product makes farming more  lucrative, saying: “The use of bio-fertiliser and bio-pesticides would help to, ultimately, give life to the soil, give the farmers lesser financial stress and ensure that the people eat very healthy foods.”

    He said Contec Global Agro has acquired a research centre in Abuja, where researches on organic farming and other cutting-edge agricultural procedures would be explored for the benefit of farmers.”

    This, he said, would add to similar efforts2 to make Nigeria an agriculture research hub for Africa.

    On the firm’s plan, he said: “We have started with rice, but we are also aware that many other crops are grown in Nigeria, which is why we have gone into partnerships with the National Cereals Research Institute (NCRI) in Plateau State, and other stakeholders to ensure that every crop is covered.

    “We are also working towards making our products available in the coming days for dry season farming, just as we have concluded plans to bring in small hand-held easy-to-use devices that could help farmers with irrigation farming.”

    According to him, Contec Global Agro is the first company in Nigeria to set up a microbiology lab and factory for commercial production of bio-fertiliser, growth enhancers and plant protection biologicals.

    “We are following a strong dealer network for our product distribution. So far, we have around 35 dealers located in eight states, including Kano, Kaduna, Katsina, Zamfarra, Sokoto,Taraba, Plateau and Nasarawa.

    “The company’s vision is to be a pioneer in offering key solutions to farming community right from seed till harvest through usage of our safe and organic products.

    “We are also initiating farmers to form small clusters and other associations so that larger sections can be reached while disseminating the information about product and their usage, along with good agricultural practices,” he said.

    Managing Director, Niger State Agriculture Mechanisation Agency (NAMDA), Alhaji Baba Madugu, has hailed the organic farming initiative, saying it is the way to go for Nigeria.

    Represented by the Zone A Zonal Coordinator of NAMDA, Ismaila Musa, the Madugu, however, craved for an inclusion of youths and women in the scheme.

    He said: “The youth in agriculture are the future, hence should be integrated into the scheme. I also want to make special case for gender sensitivity.The women must be included in this.”

    He called on Contec Global Agro to ensure steady supply of the products in the market, adding that the cost must also be friendly.

    FADAMA III Coordinator in Niger State, Alhaji Mohammed Vatsa, who represented the Permanent Secretary, Niger State Ministry of Agriculture, said, the initiative was commendable.

    He said: “FADAMA is highly supportive of modern initiatives in agriculture. However, this cannot be possible if we are using obsolete equipment and techniques of farming. This is why we welcome the initiative of organic farming being promoted by Contec Global Agro.’’

    According to Vatsa, testimonies from the farms have shown that continuous use of bio-fertiliser and bio-pesticides would help to boost yields for farmers, advising that every farmer should go for it.

    The traditional leaders of the neighbouring communities, represented by the Emigi Village Head, Ndashietu Idrisu, appealed for the inclusion of other villages in the scheme.

  • Lawyer warns against electricity tarrif increase

    Lawyer warns against electricity tarrif increase

    Activist-Lawyer Toluwani Adebiyi has warned Chairman of the Nigerian Electricity Regulatory Commission (NERC)  Dr Sam Amadi against increasing power tariff this month.

    He said the injunction granted by Justice Ibrahim Idris of the Federal High Court in Lagos against any increment was subsisting.

    Adebiyi, who filed the suit, said any attempt to increase tariff when the suit had not been determined would land Amadi in jail for contempt of court.

    Besides, he said there was no justification for increasing electricity tariff now when power supply is not stable and worse in some places.

    His words: “Nigerians are still protesting NERC’s unfair trade practices, which include the crude, fraudulent and unjustifiable fixed charge. Both the Upper and Lower Chamber of the National Assembly have consistently warned NERC not to increase tariff.

    “President Muhammadu Buhari had declared that there won’t be increment until electricity is stable. Above all, is the subsisting court order that there must be no increment until the matter in court is decided. For how long will NERC want to swim against the tide?

    “Even if the President should say NERC should increase tariff, that cannot be done until the matter in court is decided. So, where the NERC Chairman has gotten the boldness to confront and intend to disregard such a subsisting court order, I can’t explain and whosoever is encouraging him to do this will only get into trouble.

    “He had once committed contempt of court for accusing the judges of frustrating power sector reform, which has been under him for about 10 years, with huge investment, yet without any significant improvement but he was forgiven.

    “This time around there will be no mercy for him. If Amadi dares the subsisting court order, then he is on his way to prison.”

  • Labour vows to resist increase in electricity tariff

    Labour vows to resist increase in electricity tariff

    Trade Union Congress of Nigeria (TUC) yesterday vowed to resist any attempt to hike electricity tariff in the country. It argued that such a move is not in the interest of the workers.

    In a statement endorsed  by its President,Boboi Kaigama and Secretary General, Comrade Musa Lawal,  the group said workers cannot be made to pay for services they hardly enjoy.

    The Congress said it is exploitative for workers that earn less than N20,000 monthly to pay almost half of his monthly salary for electricity which they hardly use.

    The statement read: “TUC has noted with dismay recent media reports on plans by electricity distribution companies (DISCOs) in the country to increase tariff on electricity by an average of 49.4 per cent.

    “We understand that a number of proposals have already been submitted to the Nigeria Electricity Regulatory Commission (NERC) pursuant to this objective.  In view of the present harsh economic realities in the land, it is our view that the proposed increase is wrong and lacks human face.

    “Why should the masses be at the receiving end of every wrong and retrogressive policy in the country? “Why must they always pay for what the rich consume more of?  What sense does it make for a man who earns less than N20,000 per month to be made to pay over N8,000 for electricity bill alone within the same month?

    “Why should they pay so much for what they do not use regularly with officers of the DISCOs rarely bothering to read the analogue metres?  “Why should these questionable issues that are spared no thought in other climes always take centre stage in Nigeria?  Surely Nigerians deserve a much better deal.”

    The workers said it has been informed that NERC is considering introducing measures that will facilitate reduction of the rate of the fixed charge on consumers.  The statement explained that what has been happening all along is same with  what is obtainable in the telecom sector where tones are either assigned to subscribers or they are enrolled on plans that attract daily, weekly or monthly deductions.

    TUC said further: “We say no to this nonsensical idea.  The N750 charge is fundamentally fraudulent and unjust and must be outrightly abolished. Anyone canvassing its sustenance or any increase in tariff does a grave disservice to the nation.

    “Implementation of the planned increase would amount to an invitation to anarchy.  It is totally oppressive, indefensible and retrogressive.  Little wonder that NERC has been foot-dragging on the issue of making prepaid meters available to consumers of electricity because of the excessive billing they have been imposing on all and sundry.  There is no gainsaying the fact that the present billing system is crazy, and any increase in tariff at this time is bound to make it even crazier.

    “NERC and DISCOs would do well to shun anything that would attract the wrath of the masses. Rather, Nigerians expect them to earnestly adopt genuinely consumer-friendly policies. The fact that power supply is relatively improved within the last few months does not mean that the myriad of challenges bedevilling the sector are over”

  • ‘Why it will be contemptuous to increase electricity tariff’

    ‘Why it will be contemptuous to increase electricity tariff’

    Mr Toluwani Adebiyi is a Lagos-based activist-lawyer. He tells JOSEPH JIBUEZE why he is leading a campaign against increment in electricity tariff. 

     

    why did you warn the Nigerian Electricity Regulatory Commission (NERC) and distribution companies (DISCOs) against increasing electricity tariff?

    Going by the new threat as reported on page 11 of The Nation of September 29  that electricity tariff will be increased in October, Dr. Sam Amadi, the NERC chairman, and Chief Executive Officers of the 11 distribution companies may be on their way to jail. There is a subsisting court order not to increase tariff until the case is decided. The suit is to come up on November 24, 2015. It has become self-evident that these set of Nigerians have no respect for the rule of law and constituted authorities.

    Why are you disappointed with NERC?

    NERC’s disrespectful attitude to the court and the Senate is nothing but executive recklessness and an inordinate evil ambition. The Senate had accused the power sector players of engaging in unfair trading practices and warned them against such. If Amadi thinks by making this threat, he can retain his position as NERC Chairman in this present dispensation, it is a complete illusion that can never be attained. Consumers are tired of him and they will continue to agitate for his removal.

    Why did you file contempt charge against Amadi?

    On August 7, 2015, the NERC Chairman petitioned the Chief Judge of the Federal High Court, accusing judges of frustrating reforms in the power sector, casting aspersions and accusing judges of lack of knowledge and abuse of their judicial power. He accused judges of granting inconsiderate and reckless injunctions, directing courts to always exercise restraint and defer to his commission in the exercise of their judicial power ( an attempt to subjugate, undermine and intervene with the Court’s lawful responsibility). He contemptuously sought through the letter, to bring the court under control or subjection through his request for the establishment of a possible ‘Judicial Policy of Restraint’ during the pendency of, and in connection with, or on a matter before the Court. The letter was capable of obstructing or tending to obstruct or interfere with the administration of justice in a matter pending before the court, an act that was not only insulting and derogatory to the court, but was an obstruction of justice. It was contemptuous to the integrity of the court and punishable by committal to prison.

    What do you make of complaints against DISCOs?

    The Distribution Companies on the other hand have been devising dubious means to exploit the already exploited Nigerians, like refusing to read their meters and bringing outrageous estimated bill for consumers with functioning meters. For instance, a shoe maker in Iyana Ipaja, when his meter is read gets about N2,000 bill, but when they ignore the meter and come with estimated bill, he gets around N20,000.

    Do you think the power sector is improving?

    The evident failure of the power sector, particularly in May/June this year when the order, was made was described by President Muhammadu Buhari during his inauguration as a national shame. It affects everyone and it readily speak for itself.

    However, in all fairness to the sector, there have been some fractional improvement, which the president described in his Independence Day speech as encouraging, but it still falls short of the 18 hours daily supply demanded for. Besides, most communities are still in total darkness.

    Can you name some these communities?

    On September 30, residents in Edo State were seen protesting poor electricity supply. Onike in Yaba area of Lagos has since September 8 been in total darkness. Magboro area on the Lagos/Ibadan Expressway has been in darkness for the past three years. Isale-Ijebu in Ajah community has its transformer abandoned for the past three years without being connected.

    We learnt they bought the transformer with their contributions, yet was not connected due to their inability or reluctance to make another contribution for the connection. This is in spite of the monthly N750 fixed charge which is supposed to be meant for such purposes and for the servicing and maintenance of poles and cables. The DISCOs collect this fix charge but fail to use it for what it is meant for. Still, they keep on collecting the charge. This is nothing but fraud and for that reason, this crude and fraudulent fixed charge must be abolished.

    Why are you against increasing tariff?

    Eko and Ikeja DISCOs had attempted to co-opt Nigerians through the Manufacturing Association of Nigeria (MAN) and other groups into accepting tariff increment, which has failed. On one of such occasions, Mr. Ambrose Uche, Chairman Ikeja branch of MAN adequately warned Ikeja Disco, reminding them of the subsisting order of court. Co-opting people to accept increase when there is a subsisting order not to increase is disrespectful and dishonouris the court in its entirety.

    When do you think the increment should be made?

    Increment cannot come now. The little improvement is only encouraging but not yet sufficient. Adequate electricity supply must be balanced with new tariff. Both must be commensurate with each other. Power supply must be sufficiently convincing. There is no justification for an increment now. Increasing tariff now will be morally inequitable and statutorily unjustifiable.

    It is something that affects everyone including even my learned colleagues and the counsel representing the power sector in court. They are merely working for their fees and not mindful of the interest of the already exploited poor consumers and public interest at large. Left to me, I will never accept such a brief that is against the poor masses or public interest. It is glaring that the sector has cheated so many Nigerians through very excessively estimated bills even for those who have meters. So much has been invested in the power sector since 1999 with little to show for it.

    What became of the contempt charge you filed?

    At a stage, Form 48 for court’s Contempt was filed, but was later reluctantly withdrawn after a reasonable appeal by the court in the interest of the nation, as the polity had been heated up lately about orders of arrest. Despite that unusual mercy and pardon, these people can still not learn their lessons and respect an existing order of the court. It is quite unfortunate. But the law will always have its way. Enough is enough! Our system must be sanitised; the honour of the court must be sustained. Our court must be treated with honour; its integrity must not be trampled upon.

    What will happen if tariff is increased now?

    Nigerians are not stupid. We have been exploited for long despite government’s huge investment in power sector with no improvement. We cannot be further exploited by those feeding fat on consumers’ money. If NERC chairman and the DISCOs’ CEOs will not purge themselves of attitude detrimental to the honour of the court, then they shall not escape the consequences of dishonouring the court; they are on their way to prison.

    If they still insist on increasing tariff this month as threatened, in spite of the subsisting court’s order, and want to be treated and seen as scapegoats, they are free to make their choice and end up in jail. It is a free world.

     

     

     

  • Labour and the clamour for wage increase

    The subject of wage increase has been a contentious one in our nation over the years. In 2011 for instance, agitation by various labour interests over the minimum wage palaver nearly threw the country into a state of confusion. While labour stuck to its gun, some State governors outrightly claimed that they did not have the resources to pay the N18, 000 minimum wage being demanded by labour. Till date, it is yet to be ascertained if all Sates of the federation have fully complied with the spirit of the agreement reached with labour on the issue in 2011. As for the private sector, most employers of labour are yet to actually embrace the 2011 minimum wage act.

    Based on the provision of the Minimum Wage Act signed into law by former President Goodluck Jonathan in March 2011, the minimum wage is supposed to be reviewed every five years. The implication of this is that the current wage will be due for appraisal by next year. Consequently, some labour leaders have been advising the federal government, and rightly so, to begin the process of the preparation in terms of gathering information and analysing them, in order to have the law reviewed for another five years. Indeed, at a recent parley with the Senate President, Dr. Bukola Saraki, the Nigeria Labour Congress (NLC) president, Ayuba Wabba, revealed that labour is already working on a wage increase proposal which he urged the senate to quickly approve considering the biting economic situation in the country. Particularly hinging their argument on the dwindling economic fortune of the country and its ensuing hardship on workers, some labour leaders are already benchmarking N90, 000 as the most reasonable minimum wage for workers in the country.

    Undoubtedly, labour is both morally and constitutionally correct to negotiate for a new minimum wage with the federal government. On the moral side, it could be argued that since the political class has learnt how to take care of its share of the national cake, labour leaders equally have a moral obligation to protect the interests of their members. Indeed, considering the hard reality of our current economic predicament, labour is well justified to demand for wage increase. Similarly, as previously stressed, by the spirit of the 2011 Minimum Wage Act, labour has a legal ground upon which it could justify any agitation for the appraisal of the current minimum wage.

    However, in as much as labour has a good ground to start clamouring for wage increase, it is, however, important to stress that labour should, for once, change strategy and consider other options. If, indeed, the welfare of Nigerian workers is paramount, as one would want to believe it is, to labour leaders in the country, insisting on wage increase as the only way out of workers’ current and obvious economic woes would be counter- productive. As a public servant, one is a critical stakeholder on this issue. Hence, one is actually arguing from a pragmatic point of view.

    It needs to be emphasised that, from experience, previous wage increases, over the years, only helped to assuage workers economic miseries over a short period of time before the inflationary reality of such increase begins to agonizingly dawn on them. Consequently, any rigid insistence on wage increase by labour leaders, especially with the present economic downturn in the country, might eventually consume rather than console the workers. Since wage increase agreement is always announced with much fanfare by government and labour, one does not need to be a classical economist to conjecture how market forces and other variables would immediately react to such increase. Your guess, of course, is as good mine.

    Alternatively, therefore, one would like to canvas that our labour leaders should concentrate more energy on ensuring that government make more concessions in areas that would have direct and immediate impact on workers’ welfare such as provision of housing loans or indeed, affordable houses. As a matter fact, labour should constructively engage all tiers of government on the needed to effectively and creatively meet the housing needs of workers across the country.  Aside, food and clothing, shelter remains one of the most essential elements required for human survival. Hence, labour leaders need to properly engage the government on how to creatively fashion ways through which this all important human need could be practically met. Once a man is assured of shelter, half of his problem is considered solved. Of what essence is a salary raise that ends up in the hands of shylock landlords?

    Equally, labour must as a matter of urgency engage the federal government on the need to improve the power situation in the country. With the current unstable state of power supply in the country, many Nigerian workers spend a quarter of their earnings to fuel and service their various generating sets. One would rather advocate for labour to embark on industrial action over the state of power in the country than doing same over wage increase. Once there is a marked improvement in power supply across the country, workers would have more money in their pockets as they wouldn’t have to spend excessively on their generating sets anymore.

    In same vein, labour leaders must engage both federal and state governments as well as federal and states lawmakers on the need to the increase funding of the education sector. Labour should enter into helpful dialogue with government at all tiers on the need to lift the standard of public education in the country. In the 70s and 80s, most Nigerians attended public schools. By then, private schools were not really in vogue. It is the collapse of public schools in the 90s that led to the springing up of private schools. Today, the average Nigerian worker spends quite a fortune educating his children. Once the quality of education on offer at public schools improves remarkably, most workers and, indeed Nigerians, would be willing to send their wards to public schools. No matter, what the national minimum wage is, if the state of public education remains unchanged, Nigerian workers would continue to spend a large chunk of their earnings on the education of their wards.

    On a final note, the NLC and other workers unions in the country must begin to look beyond wage increase agitation as the only answer to the improved welfare of their members. The NLC and its affiliate bodies should begin to take on critical issues in the society such as decayed infrastructure, incessant power failure, corruption, bad governance, declining education standard, poor state of the refineries, security, poor public health system and other such vital issues with the same vigour and passion as they do with wage increase. Realistically, irrespective of how much the workers take home, if these issues are not bluntly tackled, the misery of Nigerians workers might continue for sometime.

    Ogunbiyi is of the Features Unit, Lagos State Ministry of Information and Strategy, Alausa, Ikeja

  • Govt urged to increase oil output above 2.2m bpd

    Govt urged to increase oil output above 2.2m bpd

    The Federal Government has been urged to increase crude oil production from the current level of between 2.2millon and 2.3 million barrels per day (bpd).

    The low output has made it difficult for the government to generate enough revenue for socio-economic development, data from the Nigerian National Petroleum Corporation (NNPC) has shown.

    The data showed that the country’s crude production has been less than 2.5mpd, while the global oil downturn persists. It is in view of this development that the Society of Petroleum Engineers (SPE), Nigerian chapter, advised the government to ramp up oil production by engaging in more  drilling and exploration activities.

    Speaking in Lagos during a briefing to herald the 2015 Nigeria Annual International Conference and Exhibition (NAICE), its Country’ Chairman, Emeka Ene said the need to buoy oil production became necessary in order to reduce the impact of global oil recession on Nigeria.

    He said: “There is urgent need by the government to improve daily oil production via drilling more wells. The oil in the Gulf of Guinea holds more prospects for Nigeria. However, the need to optimise the potentials in the nation’s oil and gas industry by drilling more wells would go a long way in boosting production. It is better for Nigeria to drill more oil wells during a down cycle period than a booming period. This is the only way we (Nigeria) can have more to sell and make more money during recession.’’

    According to him, the industry operates in a cycle, stressing that there are upside and downside period in the sector.

    “There was a period when oil was $11 per barrel before the price moved to $40, $50 and over $100 per barrel. Later, the price fell to below $50 per barrel. So, if we increase the volume of oil production, the country would benefit in the long- term no matter the happenings in the international market.

    Ene said activities in Kuwait and other oil producing nations in the United Arab Emirates (UAE) are all time hard, adding that the development made  the country to try   investing billions of dollars in the industry.

    He said while UAE is putting in place measures in place to cushion the effects of the global oil downturn and further improve production.

    He said Nigeria should do something over a long-term period to address problems in the industry.

    Ene said the resuscitation of the industry is necessary in the light of decreasing oil production and revenue, adding that the government has taken steps in this direction.

    On the conference, Ene said NAICE 2015 conference, being the 39th edition, will hold from between August 4 and 6, at the Expo Centre, Eko Hotel and Suites, Victoria Island Lagos. The theme for this year’s conference is “Natural Gas Development and Exploitation in an Emerging Economy – Strategies, Infrastructure and Policy Framework,” he said.

    The main focus of the conference is “Sustainability, Infrastructure and Framework in an emerging economy” with a focus on natural gas development and exploitation, he said, adding that there will be workshops on marginal field, among others.

    Expected to speak at the event are the Vice President,  Prof. Yemi  Osibanjo, SAN,  Lagos State governor, Mr. Akinwunmi Ambode,  Group Managing Director NNPC, Dr. Joseph Thlama Dawha, Mr. Helge Hove Haldorsen, Vice President, Strategy & Portfolio Development & Production, North America, Statoil, Mrs. Elisabeth Proust, Chief Executive Officer, Total Exploration & Production, Nigeria, and Mr. Clay Neff Jr, Chairman & Managing Director, Chevron Nigeria Limited.

  • Firm to increase hypertension check in Nigeria

    Omron Healthcare is seeking to ensure every home in Nigeria has a blood pressure monitor to check hypertension – a killer disease.

    Its President and Chief Executive Officer (CEO), Europe, Mr Andre Van Gils said the disease is a killer that should be addressed promptly because most hypertensives do not know they have it.

    Gils spoke at a conference organised by Omron’s partner, New Heights Pharmaceuticals (NHP) in Lagos.

    He said the best way to tackle it is through prevention, which could only be achieved by monitoring the blood pressure numbers regularly.

    “One in three adults in the country has high blood pressure (HBP). The device would ensure people do more home measurement of the blood pressure,” he said.

    Gils said many people did not use the monitor, and as such the company had no market share in Nigeria despite being one of the largest in the world. “One out of every two monitor sold is from our firm,” he added.

    He said Omron, which is a Japanese company, has been addressing lifestyle-related diseases, such as hypertension, and respiratory diseases like asthma.

    “We will help the children who are asthmatic get better. We will also educate healthcare workers on the disease.

    “Our company was established over 80 years and it has been working for the benefit of the society. This will be replicated in Nigeria. We are all about quality, accuracy and durability,” Gils said.

    He said there is a 10-year plan to develop healthcare industry in Nigeria.

    “Our main goal is to create awareness. We will see how fast we can increase awareness in Lagos. We will also see how we can help hospitals in the country. In most markets, it takes between five to 10 years. I cannot commit to a number but there will be improvement,” Gils said.

    The president advised the people to reduce their salt intake, exercise regularly and embrace nutrition, among other prevention strategies.

    Managing Director, NHP, Mr Omaruaye Ogheneochuko said people, especially adults, who are more susceptible to the disease, should be more responsive to their health. “Nobody would take care of you than yourself,” he added.

    He said the health system is not what it should be, hence the need for people to have monitors to prevent it.

  • Eko DISCO, customers discuss planned tariff increase

    The management of Eko Electricity Distribution Plc (Eko DISCO) has held a consultative meeting with stakeholders within its network to discuss planned increase in tariff it wants to implement.

    Its Chief Executive Officer, Dr. Oladele Amoda, said the increase in tariff is to reflect realities in the industry, where the investors pay for gas, replacement, rehabilitation and upgrade of electricity equipment and facilities.

    He said: “All our activities in Eko DISCO are being guided by a regulatory framework and guidelines. The Nigerian Electricity Regulatory Commission (NERC), as the umpire, is committed to regulating quality services through effective monitoring.

    “One key mandate of the Commission as contained in the Electric Power Sector Reform (EPSR) Act 2005 is to put in place an efficient electricity market and structures that will sustain the market. This includes customer protection measures, and approval of cost-reflective tariff that will ensure sustainable business model for operators across the industry.

    “It is believed that ‘nothing good comes easy’ and Eko Electricity Distribution Plc has invested so much to sustain and enhance operations toward improving services to the customers. It is on the need to sustain continuous investment that we have called for this meeting, in order to consult with our esteemed customers on our proposed adjustment in tariff to partly meet the reality of the prevailing economic situation. “We shall continue to interact regularly on area by area basis to further strengthen the relationship and understanding between our company and our esteemed customers.”

    Amoda also said the company has invested substantially in upgrading the network as well as in human capacity development, adding that many staff have trained locally and abroad to update them with latest technology in power distribution, commercial and customers care activities.

    More training programmes and workshops have been proposed for further implementation, he added.

  • Saudi’s Asia price increase lifts oil price

    Oil futures climbed more than $1 a barrel on Monday, after Saudi Arabia raised its prices for crude sales to Asia for the second month running, signaling improved demand in the region.

    International benchmark Brent regained ground after tumbling as much as five per cent on Thursday when Iran reached a preliminary deal on its nuclear program with six world powers. More Iranian oil could enter global markets if that is followed by a comprehensive deal by June.

    But expectations of an immediate increase in supply have been tempered as analysts warned a ramp-up in exports could take months and would likely not happen before 2016.

    “While clearly a bearish headline, a final deal and full lifting of sanctions still faces a number of obstacles,” Morgan Stanley analysts said in a note.

    “Even if a final deal is reached, we do not expect any physical market impact before 2016,” the analysts said.

    Brent crude for May delivery LCOc1 touched a high of $56.90 a barrel and was up $1.29 from Thursday at $56.24 by 1436 GMT. U.S. crude for May delivery CLc1 was $1 higher at $50.14 a barrel, after earlier touching $50.97.

    There was no trading in either Brent or U.S. crude futures on Friday as markets were closed for the start of the Easter holiday.

    The world’s top exporter Saudi Arabia kept output steady and cut its official selling prices (OSPs) sharply late last year in a fight for market share during a global supply glut.

    Its ability to raise prices for April and May suggests its strategy is working, although competition has kept its flagship Arab Light at a discount to Oman/Dubai quotes, analysts said.

    It is unclear exactly when sanctions on Iran would be lifted if a deal is reached in June. Iran’s foreign minister, Mohammed Javad Zarif, said on Saturday that U.N. sanctions would be lifted immediately after a deal, but the United States released a fact sheet on Thursday saying that sanctions would be lifted as Iran demonstrates compliance with the terms of a deal.

    “Both sides will describe the deal differently,” said Olivier Jakob of Swiss-based consultancy Petromatrix.