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Poor Data Hinders Nigeria’s Growth- Tinubu
President Bola Ahmed Tinubu has hinted at plans by his administration to address what he termed historical inadequacies of policy making hitherto thwarted by a lack of comprehensive data in Nigeria.
He regretted the lack of comprehensive data, saying it had been “a technological affliction” that has hindered the growth trajectory of Nigeria and the entire Africa, impeding the ability to make informed governance decisions.
President Tinubu disclosed this during the 2023 Comptroller-General of Customs Annual Conference at Lagos Continental Hotel, Victoria Island, Lagos, saying because data is the guiding light in the ever-evolving landscape of the modern world, Nigeria can no longer afford to function in the dark.
The President who was represented at the conference by Vice President Kashim Shettima, noted that the grand vision of his administration is to deploy data to make sound government decisions.
Shettima in a statement by Stanley Nwocha, his spokesman, described Tinubu as an “accounting virtuoso” with an unparalleled understanding of data and its significance to piloting the affairs of the country, noting that it is due to his knowledge of data as the invaluable gold of the 21st century that the President strategically appointed “tech-savvy Nigerians” into critical government positions in order to ensure strategic planning.
He stated: “Even before we were given this mandate, we knew that every facet of our lives is woven with data. We must not only commit to deploying data to make decisions within the government but also address the historical inadequacies of Nigerian policymaking, often impeded by a lack of comprehensive data. Our current governance landscape demands a transformative intervention, and the solution is what has brought us together today.
“There’s no doubt that the chiming of this clock of modernity is inviting us to take action. It’s inviting us to adopt evidence-based processes and innovative strategies to align policies with the objectives of this administration, to streamline decision-making, and to resolve conflict arising from misinformation and inconsistent policies within the government.”
President Tinubu also underscored the need for the integration of complex data to interpret the patterns of transactions and interactions in international trade, just as he disclosed plans by his administration to turn Nigeria into a hub of export and import activities.
Observing that the benefits of comprehensive data go beyond determining revenue generation, he said, “Data provides the sharpest lens for us to connect the dots, even in establishing the security of our borders. We can easily determine the traffic of people and goods around a specific border and share indisputable information with other nations with just a punch on our computers.
“I assure you that we remain resolute in our belief that Nigeria is unequivocally on track not only to accumulate terabytes of factual surveys but also to establish a robust public service system that upholds data integrity at its core.
“Our ambition extends beyond accumulation; it extends to transformation. We aspire to position Nigeria as the preferred destination for all stakeholders involved in export and import activities overseen by the Customs.”
Expressing delight with efforts by the Nigerian Customs Service to accumulate large amount of data to shape a public service system that upholds data integrity at its core, the President noted that the first step is to invest in the training and capacity-building of “Customs officers to stand shoulder to shoulder, terabyte by terabyte, with the best minds in the world.”
Declaring the conference open, he expressed hope that discussions at the annual event would “set the trajectory for a new era in the Nigeria Customs Service”.
Earlier, BA Adeniyi, Customs CG, while welcoming participants at the event, said the significance of technology in global Customs operation cannot be overemphasised and hence the Nigeria Customs’ adaptation to global requisitions.
He expressed optimism that the Theme of this year’s conference would provide guiding standards and principles in helping the Nigerian government open the frontiers, as it is requisite that the Customs streamline and integrate its services in its bid for global service delivery.
In his goodwill message, Dr Kunio Mikuriya, director general of the World Customs Organisation (WCO), praised the Nigerian Customs for upscaling global service delivery in maritime service delivery.
He said he was optimistic that given the dedication and commitment of the Nigeria Custom in adopting technology as a major leeway in global trade, it was just a matter of time before Nigeria became the reference point in Africa’s Customs revolution.
Also speaking, Babajide Sanwo-Olu, Lagos State Governor, promised that Lagos would continue to adapt to innovations and changing times in global trade.
He promised to ensure seamless infrastructure and a conducive environment to enable the Nigeria Customs Services to not only match global standards and yearnings but to also make the organisation the best in the world.
He praised Customs for adopting technology, stressing that thinking out of the box remains critical to Nigeria’s sustainability and growth, hence the belief that CGC’s theme for 2023 is not only commendable but indeed poignant in Nigeria’s quest for world growth and development.
On his part, the Ooni of Ife, HRH, Oba Adeye Enitan Ogunwusi, praised the commitment of the leadership of the Nigeria Customs to aiding the Tinubu administration in achieving its set eight-point agenda.
He advocated a special economic status for Lagos State, given its contributions to the nation’s economy in terms of revenue generation and developmental impact.
Also in attendance were Chairman, Senate Committee on Customs, Sen. Isa Jibrin; Chairman, House Committee on Customs, Hon. Leke Abejide; Secretary, World Customs Service, Dr. Kunio Mikuriya, and Deputy Governor of Gombe State, Manasseh Daniel Jatau.
Others are His Royal Highness, Oba of Ilaro, Oba Olugbenle Olu; former Minister of Information Alhaji Lai Mohammed, and former Comptrollers of the Nigeria Customs Service, among others.
News
PalmPay, Jumia Reward Users in Festive Campaign
This holiday season just got a whole lot more exciting! PalmPay, one of Africa’s leading fintech platforms, operates Nigeria’s most used mobile wallet and has teamed up with Jumia, the continent’s e-commerce giant, to launch a festive campaign that’s all about convenience, rewards, and enhancing your shopping experience.
Running from December 11th to 28th, 2024, this holiday campaign is set to reward shoppers who use the new “Pay with PalmPay” feature on Jumia with cash prizes. Every purchase made using the direct payment method automatically enters participants into a draw, giving them a chance to win exciting cash rewards while enjoying the seamless shopping and payment process.
A Strategic Partnership To Enhance Digital Payments
The integration of the “Pay with PalmPay Wallet” feature on Jumia marks a major milestone in the partnership between the two industry leaders.
Speaking at the media announcement, Mr. Chika Nwosu, Managing Director of PalmPay, highlighted the broader mission driving this collaboration: “We are thrilled to join forces with Jumia to redefine convenience for shoppers. At PalmPay, our mission has always been to drive economic empowerment through accessible and user-friendly financial services. This partnership is a natural step forward in achieving that goal.”
Beyond the holidays, this partnership with Jumia m,k is a signal of bigger things to come. Mr. Chika added: “This is more than just about payments—it’s about creating value for our customers. We are excited about the opportunities this partnership will unlock in 2025, including campaigns and innovative initiatives that will further transform the online shopping landscape.”
Sunil Natraj, CEO of Jumia Nigeria, highlighted the shared vision between both companies, stating: “At Jumia, we are dedicated to creating value for our customers by ensuring a convenient, reliable, and secure shopping experience. This partnership with PalmPay strengthens our commitment to enhancing the digital payments within our platform. By integrating PalmPay, we are providing more options for customers to access affordable and quality goods with the convenience of cashless transactions.”
How to Join the Holiday Fun
Participating in the campaign is simple. When shopping on Jumia, select the “Pay with PalmPay” option at checkout, and your entry into the draw is automatic. It’s that easy!
Bonus Entry: Share a screenshot of your purchase on X (formerly Twitter) using the hashtag #PalmPayXJumia to increase your chances of winning. Additional winners will be selected from participants engaging with the campaign on Twitter.
Whether you are shopping for gifts, or gadgets this festive season, PalmPay and Jumia are making sure your experience is not only seamless but also rewarding.
To learn more about the campaign, stay tuned to the official X accounts (formerly Twitter) of @palmpay_ng and @JumiaNigeria. for updates, announcements, and more chances to win.
News
Corruption: ICPC Threatens Sanctions as 330 MDAs Fail Financial, Governance Tests
Independent Corrupt Practices and Other Related Offenses Commission (ICPC), has revealed that none of the Ministries, Departments, and Agencies (MDAs), in the country complied fully with ethical standards, policies, and anti-corruption measures in the passing year.
This was following the findings from the Commission’s Ethics and Integrity Compliance Scorecard (EICS) for the MDAs.
The Commission warned that henceforth, non-compliant MDAs will face necessary actions, including enforcement, to ensure adherence to government directives.
According to the EICS scorecard released on Thursday in Abuja by Demola Bakare, ICPC spokesperson, no MDA out of 330 MDAs that were assessed through physical deployment by ICPC teams achieved full compliance.
The EICS serves as a preventive tool used to assess and enhance the compliance of MDAs with ethical standards, policies, and anti-corruption measures.
Findings from the report indicated that no MDA achieved full compliance, while 29.55 per cent of MDAs captured attained substantial compliance, and 51.62 per cent had partial compliance.
The report also observed that 15.91 per cent showed poor compliance, while 292 per cent were non-compliant.
According to the report, common gaps included a lack of whistle-blower policies, strategic plans, and effective stock verification units, adding that many MDAs failed to conduct any forms of system studies or render financial and audit reports.
Commenting on the report, Bakare noted: “This year, 2024, the tool covered 323 responsive MDAs, with 15 MDAs non-responsive and categorised as high corruption risk.
“It is imperative to inform you that this initiative has yielded some positive and value-driven impacts, and these are, but not limited to, increased awareness and compliance with anti-corruption measures, enhanced competition among MDAs to meet criteria, and improved procurement processes and data reliability.
“The Commission recognises the MDAs with substantial compliance and will continue deploying these tools to promote integrity and accountability.
“Non-compliant MDAs will face necessary actions, including enforcement, to ensure adherence to government directives. We are certain that these efforts will continue to underline ICPC’s dedication to enhancing good governance and preventing corruption.”
News
Dangote Refinery Denies Liquidity Challenges, Dismisses NNPCL’s $1Bn Loan Claim
Dangote Petroleum Refinery and Petrochemicals (DPRP) has dismissed claims that the Nigerian National Petroleum Company Limited (NNPCL) used a $1 billion loan secured through a crude forward sale agreement to support the refinery during a liquidity crisis.
In a statement on Wednesday, Anthony Chiejina, company’s chief branding and communications officer, said the NNPCL’s stance was a distortion of the facts.
“We would like to clarify that this is a misrepresentation of the situation as $1bn is just about 5% of the investment that went into building the Dangote Refinery,” Chiejina said.
Chiejina stated that the refinery’s decision to enter into a partnership with the NNPCL was based on the recognition of “their strategic position in the industry as the largest offtaker of Nigerian crude” and at the time, the sole supplier of petrol into Nigeria.
“We agreed on the sale of a 20% stake at a value of $2.76 billion. Of this, we agreed that they will only pay $1 billion while the balance will be recovered over a period of 5 years through deductions on crude oil that they supply to us and from dividends due to them,” Chiejina said.
“If we were struggling with liquidity challenges we wouldn’t have given them such generous payment terms. As at 2021 when the agreement was signed, the refinery was at the pre-commission stage.”
According to the statement, the agreement would have been cash-based rather than credit-driven if the refinery struggled with liquidity issues.
The refinery’s spokesman said the NNPCL was subsequently unable to supply the agreed 300,000 barrels a day of crude (bpd).
He stated that the shortfall was because the NNPPC “had committed a greater part of their crude cargoes to financiers with the expectation of higher production which they were unable to achieve”.
“We subsequently gave them a 12-month period for them to pay cash for the balance of their equity given their inability to supply the agreed crude oil volume,” he said.
“NNPCL failed to meet this deadline which expired on June 30th 2024. As a result, their equity share was revised down to 7.24%. These events have been widely reported by both parties,” he said.
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