Business
Operators in Agric value chain must embrace insurance to reduce risk – Universal Insurance boss
Stakeholders in the agricultural value chain have been advised to embrace insurance to reduce retained risk and remain sustainable.
Universal Insurance Plc has tasked stakeholders in the agricultural value chain to embrace insurance to reduce retained risk, remain sustainable, and achieve long-term growth expectations.
This was disclosed by the Managing Director, Universal Insurance Plc, Benedict Ujoatuonu, on Tuesday when the National Insurance Commission (NAICOM) gave the company approval to underwrite agric insurance.
READ: Bus drivers adopt insurance for passengers on inter-state trips
He said, “Agricultural insurance protects against loss of or damage to crops or livestock and it has great potential to provide value to low-income farmers and their communities, both by protecting farmers when shocks occur and by encouraging greater investment in crops.”
According to him, the ‘no objection’ nod (approval) would enable the company to support farmers and service providers in the agricultural value chain for greater sustainability and economic growth.
READ: Nigeria loses N3.5 trillion to post harvest loss annually – Farmcrowdy boss
READ: Yam remains a priority of over 28 crops being promoted in the ministry – Minister
Some of the products NAICOM approved are Fishery Agricultural Insurance Plan and Poultry Agricultural insurance plan.
“The agribusiness sector in Nigeria needs insurance to remain sustainable and achieve long term growth expectation. The policy covers death of the poultry animals resulting from accident or disease while the Fishery policy covers loss of fish caused by death and cost of reconstruction of fish pond in the event of collapse,” he added.
READ: Agrorite leading the fight against food insecurity using Agtech
What it means
The company has joined leagues of insurance firms that have extended their investment tentacles to the agricultural sector—a move that industry watchers believe would aid insurance penetration and boost investors’ confidence in the sector.
READ: CBN launches Private Sector-led Accelerated Agriculture Development Scheme
Business
JAMB: How to register for the 2021 UTME examinations
JAMB stated that the registration for the examinations has now commenced in full swing as all the issues have been resolved.
The Joint Admissions and Matriculation Board (JAMB) had about 3 weeks ago announced the commencement of the 2021 Unified Tertiary Matriculation Examination and Direct Entry registration exercise on April 8, 2021, to May 15, 2021, with National Identification Number (NIN) made mandatory at the point of registration.
This was put on hold due to the exam body’s effort to ensure that candidates have access to its registration app for the 2021 UTME/DE and also finalise work on its pin vending process before the take-off of the exercise.
However, in a new statement, the spokesperson for JAMB, Dr Fabian Benjamin, said the registration for the examinations has now commenced in full swings as all the issues have been resolved.
JAMB in its public communications gave a guide on how to register for the UTME.
READ: How to link your National Identity Number with your phone number
How to register for the 2021 UTME
- VALID, FUNCTIONAL E-MAIL, PHONE NUMBER: The applicants must have a valid and functional e-mail account in addition to an active phone number. This is relevant for registration and sending and receipt of information from JAMB.
- NATIONAL IDENTIFICATION NUMBER (NIN): JAMB has made it mandatory for applicants or potential candidates to provide their NIN at the point of registration or enrolment.
- VISIT JAMB WEBSITE: After having your email address and NIN, the applicant can proceed to the examination body’s website, where he/she can create a JAMB profile, preferably before buying the form.
- CHECK JAMB iBass: After creating a profile, you are advised to check JAMB iBass to be sure of your eligibility to take this year’s examination. The information is provided on the official website of the exam body.
- JAMB e-pin: After confirming your eligibility, you can go ahead to buy your 2021 JAMB e-pin registration from banks and other accredited outlets.
- CBT CENTRE: Then, proceed to any accredited 700 computer-based test (CBT) centre with your personal details and your profile code.
READ: JAMB sets date for 2021 UTME registration and examination, makes NIN mandatory
What you should know
JAMB a few days ago confirmed the commencement of registration for the 2021 UTME/DE examinations after the initial hiccup.
It stated that applicants must provide NIN at the point of registration with the registration by Direct Entry candidates to run concurrently with that of UTME candidates.
JAMB also said that the mock examination is expected to hold on Friday, April 30, 2021, for those who indicate interest and are registered before April 24, 2021, with the registration fee for the application still N3,500 and N500 for recommended Reading Text.
Business
Customs Apapa Command generates N159.58 billion revenue in Q1 2021
Most revenues came through customs duty and charges.
The Nigeria Customs Service (NCS) Apapa Command stated that it has generated a revenue of N159.58 billion in the first quarter of 2021.
This was disclosed by Ibrahim Yusuf, the Area Controller at Apapa Customs Command, in an interview with newsmen on Monday.
He added that most revenues came through customs duty and charges, citing a 44.8% revenue increase on duty collection compared to the N110 billion generated in the same period in 2020.
READ: Vitafoam declares N1.11 billion as profit in the first quarter of its financial year 2020/21
“The difference recorded was made possible because of robust stakeholders engagement, officers’ resolve in discharging their duties and increased level of compliance in the trade zone,” he said.
He added that the total seizure for the first quarter stood at 28 containers of goods with DPV (Duty Paid value) of N1.87 billion.
“The containers had rice, wheat declared as supermarket items, medical soap declared as baking powder, tramadol and others.
“These are all importations in breach of sections 46, 47 and 161 of the Customs and Excise Management Act CAP C45 LFN 2004 and Schedules 4 and 6 of the Common External Tariff (CET).
READ: Customs revenue rises by N200 billion to hit N1.5 trillion in 2020
“These cases are at various stages of investigation and in due time will be revealed,” he disclosed.
The Customs boss also revealed that exported goods from Apapa were valued at N41.55 billion in Q1 2021, including manufactured goods such as soaps, textiles, noodles, and agricultural products such as cashew nuts, hibiscus, sesame seeds and other mineral resources.
