The Nation Newspaper

Tag: productivity

  • Failure to inaugurate NSITF board stifles productivity, says NECA

    The Nigeria Employers’ Consultative Association (NECA) has criticised the Minister of Labour and Employment, Chris Ngige, over his insistence on not inaugurating the boards of the Nigeria Social Insurance Trust Fund (NSITF), and other Federal Government agencies under his ministry, saying the development was stifling their performance.

    According to NECA, which represents the interest of employers in Nigeria, the failure to inaugurate the board members, several months after they were appointed, contravened the law establishing such agencies. He noted that such action was inimical to the growth and performance of the agencies.

    NECA Director-General Timothy Olawale, who criticised the development in a statement, lamented that more than one year after President Muhammadu Buhari announced the membership of the boards, some recalcitrant Ministers have remained defiant to President’s directive without any repercussion.

    To avoid eroding the confidence  built over the years in the institutions by Nigerians, the NECA scribe said the implication of total absence of a governance framework, which is to regulate the activities of the agencies, three and half years down the line, after dissolution of previous boards, was grave.

    He said it was unfortunate, especially for a government that prides itself in the rule of law.

    He advised that government should ensure and encourage the practice of good corporate governance at all levels, saying the Acts establishing the various agencies had provided for the composition of the board members and in some instance ‘institutional representatives’ to the boards mentioned.

    It would be recalled that there were pressures on the Minister of Labour and Employment to inaugurate the boards. Till date, his promise has failed to come to pass.

    The minister, he said, also assured that the board would be inaugurated in order to assist the implementation of the audit committee he set up to study financial infractions in the Fund.

    Ngige had announced that the implementation committee of the audit report, which had since been established by him to effect the various policy recommendations  aimed at sanitising and strengthening the weak internal audit system of the Fund.

    The Federal Government had in August 2017 nominated former NUPENG General Secretary, Frank Kokori as the Chair of the board with Vice President of Nigeria Labour Congress (NLC), Peters Adeyemi, Treasurer of NLC, Khaleel Ibrahim, representatives of Nigeria Employers Consultative Association (NECA), Central Bank of Nigeria (CBN), NSITF  Managing Director and Federal Ministry of Labour and Employment Permanent Secretary,  who represents the Ministry on the board as members.

    Kokori had in a public forum, while commending President Muhammadu Buhari for recognising June 12 as the official democracy day in Nigeria, reported the matter to the presidency.

  • ‘Healthy lifestyle critical to productivity’

    Healthy lifestyle is critical to enhancing productivity at work places and promoting family ties, South Korea technology firm, LG Electronics has said.

    Its Managing Director for West Africa Operation, Mr Taeick Son, said the firm is therefore committed to innovative designs that will enable lifestyle convenience while creating seamless user experience of its products.

    Speaking in Lagos yesterday at the unveiling of the firm’s new products, Son said: “Today, families are paying more attention to healthy lifestyle and appreciating the importance of having a family meal. These have led to a rising interest in getting smarter in the kitchen. We want to make life better for everyone by providing affordable devices,”

    He said the firm is offering customers choices kitchen with LG’s fastest-growing feature for the kitchen — LG Instaview —adding that with the firm, there’s no compromise on quality.

     

     

  • Ngige decries low productivity, competitiveness

    The Minister of Labour and Employment, Chris Ngige, has said despite the country‘s huge  human and natural resources, it  lags behind smaller and less-endowed African countries in productivity and competitiveness.

    Ngige stated this at a briefing ahead of  the 17th National Productivity Day and National Productivity Order of Merit (NPOM) awards scheduled for  Abuja.

    The minister said for the country to achieve high productivity and competitiveness, there was the need to bridge the productivity and competitiveness gap.

    He said: “So, real competitiveness means the ability to produce goods and services that can compete in the domestic and international markets while promoting and maintaining a high living standard and quality of life for the people.

    “Therefore, only nations with organisations that have high levels of productivity will become domestically and globally competitive.

    “This has the capacity to exploit existing market opportunities to sustain and expand employment and real income growth in the long term,’’ he said.

    He said the government was conscious of the critical place of productivity in the realisation of the change agenda, saying it was against this backdrop that the Federal Government, through the National Policy on Productivity, declared that a day shall be observed as the National Productivity Day yearly.

    Ngige said the observance of the day and the conferment of the award was a positive step by the government to institutionalise productivity consciousness and excellence in service among workers and organisations in Nigeria.

    He said the award committee was an independent committee that conducted a screening, recommended 15 individuals and five organisations drawn from all sector of the economy.

    Ngige said the awardees include:  Mrs Winifred Oyo-Ita, Head of Civil Service of the Federation, Mr Sam Ohuabunwa, Dr Abdul Husseni, Farm Crowdy Nigeria Limited and Fresh Direct Nigeria.

    Also, National Productivity Centre (NPC) Director-General Kashim Akor said selection of the awardees was done by a committee set up for the purpose of the nomination.

  • Ambode praises Lagos workers on productivity

    Ambode praises Lagos workers on productivity

    lagos State Governor, Akinwunmi Ambode has praised the  state worforce  for a peaceful work environment leading to sustainable productivity for the Public Service,

    Ambode who was represented by the Commissioner, Lagos State Ministry Of Establishments, Training, And Pensions, Dr. Akintola Benson spoke at the just concluded Retreat for Trade Union Leaders on the topic, “”Industrial Harmony and Sustainable Productivity in Lagos State” in Lagos.

    He stated that industrial harmony refers to a friendly and cooperative agreement on working relationships between employers and employees for their mutual benefit.

    He said that human resources are rightly regarded as the bedrock of an organization since organizations are overwhelmingly dependent on human capacity for the supply of physical labour, technical and professional skills, which are germane for effective and efficient planning and implementation of development policies, programmes, projects, and daily activities.

    He stressed that  there is no disagreement on the proposition that human resource policies and practices are influenced by strategy and structure and, more importantly, by external factors such as trade unions, labour market situation and the legal system.

    He said: “In Lagos State, we are proud to note that there is in place, a well thought-out and sequential model on industrial relations practices. In Lagos State, instead of suppressing conflicts, specific channels are created to make these conflicts explicit and resolved. It is in furtherance of this approach to industrial relations that the Governor approved a retreat for the purpose of the government and the leadership of the trades unions in Lagos State to deliberate on industrial harmony and sustainable productivity in the state.

    “The approach by the State Government is not a ruse or gimmick. Rather, it is well-engrained in the fabric of the industrial relations policies of the government. We have a number of industrial relations platforms such as the Joint Negotiating Council (JNC). The prevailing harmonious relationship between the government of Lagos State and the various trade unions in the Lagos State Public Service is an eloquent testimony to the relevance, importance, competence and strategic philosophy of the Governor to governance. We urge all stakeholders in the human resource and industrial relations arm of the State Public Service not to rest on their oars. In order to sustain the existing atmosphere of industrial harmony in the state and in order to transform such harmony into even greater productivity, we must be proactive

    “Governor Ambode is committed to a perpetual regimen of training and re-training of skills. This is because, in today’s world in particular, high premium is placed on the possession of skills that are adaptable to the needs ever-dynamic needs of modern society. Many of these skills are soft skills. All stakeholders should also commit to the promotion of the indispensable value of team work in labour and government relations. The Public Service will become more effective and efficient if all stakeholders rededicate to the values of team work and collaboration.”

    Benson said that with firm focus on delivering value to the people of Lagos State, the administration has since recognised that one of the most effective ways to ensure that officers of the public service are positioned to deliver value is to invest in improving their skills and knowledge.

    To this end, a number of trainings have been approved and delivered to ensure that officers of the Public Service are positioned to favourably compete with officers from other states and able to meet the challenges of today’s world, he added.

  • Focus on productivity, experts tell CBN

    Focus on productivity, experts tell CBN

    The much-awaited 2018 is here with lots of promises and opportunities for the economy. Financial pundits want the Central Bank of Nigeria (CBN) to focus less on inflation control which is stifling growth, sustain foreign exchange interventions and lift productivity drivers like Small and Medium Enterprises (SMEs) and manufacturers, through improved credit access, writes COLLINS NWEZE.

    No one wishes to see the challenges that put the economy in jeopardy in the last year in this brand new 2018. But realising this wish would require proactive and intelligent decisions by the economy managers, especially the Central Bank of Nigeria’s (CBN’s) mandate to keep the inflation low, achieve stable exchange rate and ensure that interest rate is positive (above inflation rate) to encourage more people to save and enhance banks’ drive to grow the economy.

    The CBN’s role is to deliver price, financial system stability and sustainable economic development using effective, efficient and transparent implementation of monetary exchange rate policy and management of the financial sector.

    Financial pundits have advised the CBN to focus less on keeping inflation low, but lift productivity, drivers like Small and Medium Enterprises (SMEs), manufacturing, agriculture and other real sector operators have suggested.

    Impressed by the rate of the economy’s recovery, the CBN Governor, Godwin Emefiele, is confident that the country will return to single digit inflation rate.

    Former Executive Director, Keystone Bank, Richard Obire, said the CBN should stop selling treasury bills at attractive rates, which has made it easier for banks to invest and declare huge profits without contributing to economic growth.

    “Banks should in the New Year support productive sectors of the economy and not just invest in treasury bills. The CBN should also leave inflation to take care of itself. The Ease of Doing Business should be improved on while the foreign exchange interventions should be sustained,” he said.

    He commended the CBN’s efforts at stabilising the naira at both the official and parallel market. He said although the CBN has not fully succeeded restoring the local currency’s lost glory, but the regulator has won a major part of the battle.

    For the first time in nearly eight months, the local currency sustained its stability against the greenback. Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, explained that at the parallel market, the naira traded flat against the dollar at N364/$ on December 28.  The naira depreciated against the dollar to N365/$ before appreciating to N364/$ as the demand pressure from increased liquidity and foreign investors exiting their positions intensified.

    “Parallel market rate has appreciated 34.6 per cent year-to-date; the introduction of the Investors and Exporters’ Forex Window in the market, accretion in external reserves and improved stability in the forex market all contributed to a stable exchange rate in 2017. Depreciated against the pound by 0.2 per cent to close at N484/£ while it closed flat against the Euro to close at N426,” he said.

    At the interbank market, the naira appreciated marginally to close at N306.05/$ from N306.25/$ on December 14. The external reserves level increased by 2.9 per cent ($1.07 billion) during the period, to close at $37.92 billion on December 22. This was due to the proceeds from the Eurobond issuance. The import cover increased to 10.53 from 10.24 months on December 14. The gross external reserves have gained 46.75 per cent year-to-date.

    A top manager in one of the Tier-1 banks said the CBN has done very well in stablilising the local currency against the dollar and that currency speculation was no longer attractive. The source said the CBN can actually pump in more dollars and bring the exchange rate lower, but the challenge would be sustaining the rates below its present status.

    The source who spoke anonymously at the weekend, said the CBN has since January, spent over $7.7 billion to stablise the forex market. The Investors’ & Exporters’ FX Window currently records about $80 million daily turnover, with the CBN contributing about 15 per cent of the transactions.

    The source said with Nigeria importing almost everything, it will be difficult to further strengthen the naira as such could become disincentive to foreign investors. “We need the foreign investors and they always consider the right value for the local currency. Any rate lower than this might not be favourable to the investors who will always want to get value for their investments,” the source said.

    The Investors & Exporters Forex Window was introduced by the CBN on April 24. About $3.83 billion has been traded through the window since inception. The window has impacted positively on the naira. The window, where buyers and sellers are free to agree an exchange rate, was introduced to attract foreign investors and boost the supply of dollars.

    There has been continuous improvement in dollar inflow into the market from offshore investors, a trend that has also reflected in the volume of transactions at the equity market. Before the window came on board, the CBN was the main supplier of hard currency on the interbank forex market, after foreign investors fled naira assets in the wake of an oil price slump in 2014.

    Aside establishing the Investors’ & Exporters’ FX Window, the CBN also opened a special forex window for SMEs. The window, which allocates $20,000 per business per quarter, helps the SMEs import “eligible finished and semi-finished items” needed for their businesses. The CBN said the bank’s special intervention was necessitated by its findings that many SMEs were being crowded out of the forex space by large firms.

    CBN Governor  Godwin Emefiele, had earlier called for a change of lifestyles among Nigerians to sustain naira’s recovery against the dollar. He said in a campaign shared by the bank’s spokesman Isaac Okorafor: “The size of Nigeria’s reserves and the value of the naira critically depend on our lifestyles and on the value and types of imports we allow into the country.”

    Emefiele’s message implied that a change in consumption pattern from foreign to indigenous goods would impact positively on the value of the local currency.

    Association of Bureaux De Change Operators of Nigeria (ABCON) President Aminu Gwadabe said the CBN has succeeded in chasing away currency speculators. “There is stability in the parallel market, and we are happy that the foreign reserves have been climbing to new heights. The rising foreign reserve is a comfort for the CBN and I can assure you that currency speculators have to be careful,” he said.

    However, some stakeholders attributed the naira’s woes to CBN’s inability to fully liberarise the foreign exchange market and allow the naira to float.

     

    Sanction for forex abuses to continue

    As long as Nigeria’s economy remains import-driven, the demand for foreign exchange (forex) will continue to be substantial.

    Both manufacturers and other end-users always find one reason or the other to demand for forex including payment for production raw materials, schools fees or even medicals fees abroad. All these run into billions of dollars on weekly basis hence the need to ensure that only genuine forex demands are met.

    This prompted the CBN to issue operational guidelines for banks dealing on forex as well as sanction those violating set rules.

    That explains why commercial banks were last year hit with allegations of not keeping the rules guiding their forex transactions and these sanctions for forex violators are expected to continue this year.

    CBN Director, Banking Supervision, Ahmad Abdullahi threatened to sanction any Deposit Money Bank (DMB) in breach of its earlier directive of March 3, instructing them to, among other things, open teller points for retail forex transactions and to have electronic display boards in all their branches, showing rates of all trading currencies.

    While noting that the objective was aimed at creating awareness among members of the public regarding the availability of such facilities in branches of the banks at clearly disclosed prices, the CBN frowned at the banks for not fully complying with its directives.

    The  CBN had directed banks and authorised dealers to open a teller point for retail forex transactions involving Personal Travel Allowance/Business Travel Allowance and Small and Medium Enterprises (SMEs). Such facilities would make it easy for their customers and other forex users to buy and sell forex in all locations and ensure access to foreign exchange without any hindrance.

    The CBN had also directed commercial banks to have electronic display boards in all their branches, showing rates of all trading currencies, which it urged customers to insist on in processing their forex transactions for invisibles and the SMEs window.

    “The CBN has given the erring banks a four-week period, expiring on October 13, 2017, to fully comply with its directives or face regulatory sanctions, which it noted include but not limited to being barred from all future CBN foreign exchange interventions,” the bank said.

     

    Manufacturers, end users get forex

    Access to forex by manufacturers and other end-users has improved in recent months. There is currently enough forex for Personal Travel Allowances (PTAs) and Business Travel Allowances (BTAs), payment of school fees abroad, medical bills payment and other needs. That improvement has made positive impact on the economy and is expected to continue in 2018.

    The manufacturing sector, which for nearly two years recorded poor performance, has been upbeat in the last three months.

    Reacting to this development, Managing Director, Afrinvest West Africa Limited, Ike Chioke, said the recent improvements in the business environment coincide with the launch of the I&E FX window as well as higher oil prices and domestic crude oil production which have both culminated in increased FX supply.

    “As the economic recovery is still fragile, the business cycle going forward will remain anchored by stability in the Niger Delta, developments in the oil market and domestic forex policies,” he said in an emailed report to investors.

    Besides, the headline inflation rate has trended lower since peaking in January at 18.7 per cent and closed at 15.91 per cent in October while the exchange rate and the equities market have also stabilised rapidly.

     

    Investment climate

    Rewane said there will be investment shift from fixed income securities like Nigeria’s Treasury bill to equities market. Already, T-Bills rates have declined by an average of 5.68 per cent at the secondary market in the month of December. The yield on 91-day T/bills decreased to 10.98 per cent on December 28th, compared to 15.3 per cent on December 4th.

    Likewise 182-day bills dropped to 13.76 per cent from 17.10 per cent at the beginning of the month. The decline was driven by reduced appetite for government securities, as traders shift to the equities market. This trend also is also highlights the possibility of the CBN adopting an accommodative stance next year.

     

    IMF position

    The International Monetary Fund (IMF) revised its projections for Nigeria’s growth to 2.1 per cent from 1.9 per cent. Short-term growth will be supported by higher oil prices and domestic production, increased forex liquidity and market deregulation. These will boost investor confidence, foreign direct inflows (FDI) and foreign portfolio inflows (FPI).

    According to the fund, economic performance will be supported by improvements in the power sector and business environment. Short-term growth will be supported by higher oil prices and domestic production, increased foreign exchange (forex) liquidity and market deregulation. These will boost investor confidence, foreign direct inflows (FDI) and foreign portfolio inflows (FPI). Improvements in the power sector and business environment will also be positive for the private sector activity.

    To ensure sustainable and inclusive growth, the IMF recommended a comprehensive set of policy measures. These include tax reforms, social safety programmes, and investments in infrastructure.

    The fund said the second half of 2018 will be politically-driven. Thus, it said there will be increased government spending in the run-up to the elections which will be favourable for growth. On the other hand, investors may adopt the wait and see approach due to political uncertainties.

    “Nigeria’s economy remains largely vulnerable to commodity shocks. Thus, lower oil prices, or a dip in domestic production due to militant activities will weigh on economic activity, and could possibly reverse current progress. Any delay in policy responses will also prove detrimental,” it said.

    Oil prices touched $67.02 per barrel (pb) on December 26, before retreating to $66.44pb on December 27. The uptick in price was the aftermath of the pipeline explosion in Libya. The pipeline belonging to Waha Oil Company, supplies about 90,000bpd to the Es Sider Terminal, the largest depot in Libya.

     

    Restriction on 41 items

    The CBN restriction of 41 items from accessing forex  from official windows was one of such policies by the regulator to resuscitate domestic industries and improve employment generation.

    More than two years after the policy shift, its objectives such as encouraging local production of the affected items and boosting local industries suffocated by the importation of competing products are being realised.

    The policy implementation was part of the homegrown solution introduced by CBN Governor, Godwin Emefiele, to sustain forex market stability and ensure the efficient utilisation of available forex to grow critical segment of the economy.

    This policy implies that, those who import these items can no longer buy foreign currency from the official window to pay the overseas suppliers. Rather, they will have to source forex from the parallel market or BDCs  to pay for their imports.

    Emefiele said the bank has been developing home-grown policies to surmount challenges that confronted the economy in recent times.

    For instance, over the last 10 years, the CBN had invested over N2 trillion in funding agriculture, Small and Medium Enterprises (SMEs) and other manufacturers in the agriculture value-chain. The regulator said  the apex bank would continue to support operators in the agriculture, SMEs and manufacturing enterprises through its development finance initiatives, with a view to complementing the Federal Government’s efforts at diversifying the economy and ensuring that the nation is self-sufficient in food production.

     

    Demand from BDCs

    Gwadabe appealed to the CBN to help BDCs reduce rising bank charges associated with their transactions. “BDCs are charged N1,000 per N1 million transaction and with each operator paying as much as N67,000 for the N67 million monthly transactions. These charges are too high, and I urge the CBN to help reduce the charges which are becoming huge burden on BDC operators,” he said.

    Findings showed that each of the 3,500 BDCs carry out transactions worth N16.8 million weekly, which comes to N67 million turnover and N67,000 maintenance fee monthly.

    He disclosed that this fee has made it difficult for many BDCs stay profitable in the business because of the rising operating costs and including overhead. “I appeal to the CBN to address this challenge so that the market will continue to enjoy ongoing stability,” he said.

    The CBN had directed licensed BDCs to ensure that all their transactions have the BVN of the buying customers. The information must be included in the forex returns to the regulator. In the case of corporate customers, the BVN of a director of an authorised signatory of the entity must be provided to the BDC.

    Gwadabe explained that to ensure a hitch-free implementation of the directive, the CBN has continuously provided list of all licensed BDCs to the NIBSS to enable the firm make available the necessary hardware token that would be used by the BDC in accessing the NIBSS portal.

    The NIBSS has subsequently made the portal available on its website to facilitate access for the confirmation/validation of the BVN number of the BDCs’ customers.

    Gwadabe disclosed that all forex-buying customers’ BVNs must be validated by the CBN authorised forex dealer through the NIBSS portal before all transactions are consummated. He said that ABCON carried out the sensitisation to ensure that BDCs effectively comply with the directive.

    The ABCON boss, Gwadabe, praised the CBN’s drive to stabilise the forex market, stem the rampant cases of forex leakages and illicit money transfer from the country.

    He said that ABCON will continue to align with the CBN’s vision of providing a stable framework for the economic development of Nigeria through effective, efficient, and transparent implementation of monetary and exchange rate policy, and management of the financial sector.

    Gwadabe said the ABCON will continue to work closely with the CBN to ensure BDC operators abide by regulatory rules. The ABCON under Gwadabe has also pledged to ensure that forex purchased by BDCs are disbursed to end users and for eligible transactions only.

    The BDCs, he said, will continue to render returns on forex purchases from the CBN to Trade and Exchange Department of the apex bank. He further promised to ensure strict compliance to the provisions of the anti-money laundering laws observance of appropriate Know-Your-Customer (KYC) principles in the handling of forex transactions.

    The BVN, which captures customers’ biometric data, such as fingerprints, provides unique identification number for the customers and protects their accounts from unauthorised access, identity theft and fraud.

  • Accenture: Artificial Intelligence, others to boost productivity

    Accenture Nigeria said its investments in Artificial Intelligence (AI), Virtual Reality (VR), robotics and blockchain technology capabilities will help businesses across various sectors and boost their productivity and efficiency through innovations.

    The management consulting and professional services giant said technology will continue to evolve.

    Speaking with reporters after a demo at its Lagos office at the weekend, its Managing Director, Mr. Niyi Tayo, said earlier in the year, the firm had predicted that many consumers and enterprise clients will depend on AI to select products.

    He said: “Early this year, we predicted that in five years, more than half of consumers and enterprise clients will select products and services based on a company’s AI, instead of the company’s traditional brand. And in seven years, most interfaces will not have a screen and will be integrated into daily tasks. These two predictions alone strongly suggest that companies must act now on developing their AI Journey.

    “We want businesses in Nigeria – from banking to manufacturing, health, construction, education, retail, security and other sectors to take advantage of the innovations we have created to improve their businesses. We believe as one of the biggest economies in Africa, the time to seize the future is now.”

    He dismissed the fear that robots will lead to job loss, stressing that the reverse will be the case as people will get retrained.  “There is clear evidence that points towards robotic automation in many cases being a complement for human labour rather than a direct substitute. Human effort becomes more valuable as it is focuses on higher-level tasks, creativity, know-how, and thinking,” he said.

    Accenture early this year published a report, titled: 2017 Technology Vision, which studied how AI will affect banks going forward. Over 600  of the world’s  major bankers were asked about the new technology and how it ’ll change the way banks operate internally and how they handle their customers externally.

    According to the report, three quarter of the bankers surveyed, four out of five to be exact, believe that AI will become the primary way banks interact with their customers. This is in relation to customer service, and these bankers see AI technologies such as chatbots becoming increasingly essential for banks in the not-so-distant future.

  • Vodacom: technology’ll drive efficiency, productivity

    The Managing Director, Vodacom Business Nigeria, Lanre Kolade, has advised entrepreneurs in Nigeria to adopt new technologies such as Internet of Things (IoT) and Big Data Analytics currently disrupting the business world, to drive productivity, efficiency and remain competitive.

    Kolade who spoke at the Business Day CEO Forum Nigeria 2017, an annual thought leadership initiative in collaboration with McKinsey & Co, he said: “Technology such as IoT enables growth across business sectors. Today, many organisations are using this technology to cut costs, reduce risk, increase revenue and efficiency.”

    According to him African businesses are gradually adopting IoT, with Nigeria being one of the leading markets on the continent. This adoption is driven by the increasing availability of affordable smart devices, coupled with the need for enterprises to deliver shareholder value. According to the Vodafone’s Global IoT barometer report 2017, the adoption of IoT has grown significantly from 12 per cent in 2013 to 29 per cent in 2017 and 49 per cent of these adopters use IoT in conjunction with analytics to improve business decision-making.

    In Africa, disruptive technologies such as IoT holds significant potential and opportunities are found in different sectors ranging from finance, insurance to manufacturing and agriculture, including the education sector. Organisations of all sizes now use IoT to optimise processes, automate production and monitor the supply chain.

    Kolade said: “We can use technology to disrupt education, with broadband penetration, digitisation becomes possible and education contents will be more accessible to all in Nigeria.”

    Vodacom is using technology to address challenges in, education, healthcare and agriculture in Africa. Vodacom recently deployed IoT solution for education and healthcare in Kaduna State using a mobile school management solution which provides real-time visibility of all administrative activities at over 4000 schools. The healthcare solution monitors stock level and distribution of essential medicines in over 250 medicine dispensary facilities in the state.

  • Accenture: artificial intelligence, robotics, others’ll boost productivity

    Accenture Nigeria said its investments in Artificial Intelligence (AI), Virtual Reality (VR), robotics and blockchain technology capabilities will help businesses across various sectors  boost their productivity and efficiency through innovations.

    The management consulting and professional services giant said technology will continue to evolve.

    Speaking with reporters after a demo at its Lagos office at the weekend, its Managing Director Mr. Niyi Tayo, said earlier in the year, the firm had predicted that many consumers and enterprise clients will depend on AI to select products.

    He said: “Early this year, we predicted that in five years, more than half of consumers and enterprise clients will select products and services based on a company’s AI, instead of the company’s traditional brand. And in seven years, most interfaces will not have a screen and will be integrated into daily tasks. These two predictions alone strongly suggest that companies must act now on developing their AI Journey.

    “We want businesses in Nigeria – from banking to manufacturing, health, construction, education, retail, security, and other sectors to take advantage of the innovations we have created to improve their businesses. We believe as one of the biggest economies in Africa, the time to seize the future is now.”

    He dismissed the fear that robots will lead to job loss, stressing that the reverse will be the case as people will get retrained.  “There is clear evidence that points toward robotic automation in many cases being a complement for human labour rather than a direct substitute. Human effort becomes more valuable as it is focused on higher-level tasks, creativity, know-how, and thinking,” he said.

    Accenture early this year published a report, titled: 2017 Technology Vision, which studied how AI will affect banks going forward. Over 600 of the world’s  major bankers were were asked about the new technology and how it’ll change the way banks operate internally and how they handle their customers externally.

    According to the report, three quarters of the bankers surveyed, four out of five to be exact, believe that AI will become the primary way banks interact with their customers. This is in relation to customer service, and these bankers see AI technologies such as chatbots becoming increasingly essential for banks in the not-so-distant future.

     

     

     

     

  • Boosting agric productivity through partnership

    Boosting agric productivity through partnership

    Agriculture in Ogun State has enormous potential to strengthen the economy and improve the lives of farmers. Some challenges are obstructing the opportunities, but the government is collaborating with international organisations to bridge gaps in supply chains and alleviate the plight of farmers, reports DANIEL ESSIET.

    Ogun State government is striving to boost the agricultural sector and promote export growth.

    This is as rising demand for food in local and export markets has increased earnings’ prospect for farmers.

    Addressing the 2017 National Trade Promotion and Knowledge Fair in Abeokuta, last week, the Governor, Senator Ibikunle Amosun, said increasing the productivity of the state’s farm sector was essential in  meeting its economic growth targets and boosting food availability.

    Represented by the Commissioner for Agriculture, Mrs. Adepeju Adebajo, Amosun said by supporting agriculture, the state was helping to develop a more-diverse and competitive sector that can create jobs and promote economic growth.

    In a state that is highly agrarian, with agriculture accounting for over 70 per cent of the total number of the employed, the governor said it made economic sense for Ogun to develop the sector and encourage greater export.

    According to him, agriculture has a bright future and the government is doing all within its powers to tackle issues affecting the competitiveness of the sector, including the cost of doing business, regulation, access to capital and critical infrastructure improvements.

    In addition, he said the government was pushing investments in rural areas to increase smallholder productivity and farm incomes by strengthening capacity building, service delivery and market linkages.

    He said the theme of the fair “Market and Product Development for Competitive Rice and Cassava Value Chains” was in consonance with the state’s agenda of improved agricultural production.

    According to him, value chain is a topical issue in sustaining agriculture and the state will leave no stone unturned in promoting it.

    He added: “The issue of agricultural value chain has become topical in the promotion of sustainable agriculture in Nigeria. Agricultural activities should not stop at production level. Consideration should be given to processing and marketing as it prolongs the shelf life of products and guarantee good reward for farmers’ effort.”

    The overall efforts of the state, according to him, have been complemented by the International Fund for Agricultural Development (IFAD), which has stepped in  to  assist. One area, IFAD partnership is helping the state, according to him,  is rice and cassava production.

    Having fulfilled its counterpart funding for 2014 and 2015 of N124 million, he said the state was able to draw N420 million from the fund.

    The fund, he explained, facilitated the capacity building of over 4000 farmers on good agronomic practices, construction of 20km farm access roads in Obafemi-Owode, Ijebu North East and Yewa North Local Government Areas, and  building of cassava and rice processing centres.

    The fund, he added, enabled the state to provide agro-inputs such as fertiliser, cassava cuttings, rice seeds and herbicides for 3,044 farmers in five local  government areas, cassava and rice processing  equipment to  six farmer organisations in Yewa North, Ijebu North East and Ifo Local Government Areas. The fund, he added, faciliated the  development of 500 hectares (ha) of farmland for cassava and rice cultivation across the five local government areas.

    He informed the forum that payment of 2016 and 2017 counterpart funding has been approved and released.

    The National Programme Coordinator, IFAD-assisted Value Chain Development Programme (IFAD-VCDP), Dr. Ameh Onoja, said the agricultural value chain, included the set of actors and activities required to bring agricultural products from production to consumption, including processing, storage, transportation, marketing, and retail.

    Onoja underscored that food security remained a critical issue , given expected population rise.

    According to him, the programme presents an opportunity to reduce pockets of poverty and build the capacity of smallholder farmers to move from subsistence farming to commercial market-driven agriculture.

    The programme, he explained, seeks to address multiple problems faced by farmers and rural households through a set of integrated, consolidated, and area-specific interventions responding to local constraints and opportunities.

    Specific interventions, he maintained, included strengthening farmers’ groups and building their technical and business capacities; increasing the productivity of food and high-value crops through improved agri-inputs and technologies, and enhancing access to markets for farmers.

    He said the programme is ready to support the Ogun State government‘s strategic plan of improving food security and agriculture productivity.

    Minister of Agriculture and Rural Development, Chief Audu Ogbe, who was represented by his Special Assistant on Technical Quality Control, Mrs. HectarAkani praised  Ogun State government for keying into its agricultural policies especially in the areas of cassava and rice value chain development programme.

    The minister said the objective of the fair was in line with the Federal Government’s plan to boost agricultural market and increase waste to wealth through cassava value chain.

    Special Adviser to the Governor of Ogun State on agriculture, Mr. Akin Lawson  said IFAD and the state government are working topromote and make the state a leading destination in the national rice andcassava production.

    A long-term vision for  Ogun State agriculture, according to him,  is to move towards more value added, productive and competitive agriculture to ensure that farm incomes continue to grow .

  • Aregbesola pushes for productivity culture

    Aregbesola pushes for productivity culture

    Osun State Governor Rauf Aregbesola has urged the people to avoid violence, ethno-religious conflicts and any other behaviour capable of threatening the peace and unity of the country.

    He said though the country had witnessed challenges since independence, it had nevertheless made significant progress.

    Aregbesola enjoined Nigerians to continue to tow the path of peace and promote positive values.

    In a congratulatory message from his spokesman Sola Fasure, to mark the country’s 57thindependence anniversary, the Osun State governor urged Nigerians to wake up to their responsibilities and take their destinies in their hands.

    According to him, the era of over-dependency on rent economy foisted on the nation by oil is gradually winding down and, as such, Nigerians should imbibe the culture of hard work and gainful productive activities.

    Aregbesola urged federal, states and local governments to put 50 million Nigerians to work and where each earn at least N25,000 from real productive value, N1.25 trillion will be generated in the economy every month, a development capable of catapulting the country into a superpower within two decades.

    “I congratulate Nigerians and the people of Osun on this year’s independence anniversary and I call on us all to continue to work for the unity of this country.

    “Our strength lies in our unity.  We should therefore avoid anything that will destroy our unity and corporate existence.

    “I urge Nigerians to cultivate the habit of hard work and high productivity in order to create wealth, stimulate national prosperity and the growth of the economy.

    “We had experienced the best in crude oil dependency as we are currently living the worst of it. It is obvious now that a mono-economy based on crude oil can no longer sustain us and take us to where we should be as a country. Therefore, diversification and improved productivity should be the driving force to revamp our economy.