The Nigerian Railway Corporation (NRC) flagged off Thursday, its annual Capital procurement process for 2024 at the National Headquarters in Ebute Metta, Lagos.

The Maritime First learnt that the significance of this exercise was to ensure transparency in the selections of the most competent bidders among the 524 documents that bidder.

The Managing Director/ Chief Executive Officer, Engr. Fidet Okhitia was represented, by Dr. Monsurat Omotayo flagged off the exercise. 

In her remarks, she promised it would be a transparent exercise, even as she identified some of the challenges before they arrived at the present state of the exercise.

She however noted that placing two Adverts, on the nation’s national daily was not planned for initially.

According to the Director of Procurement, NRC, 524 companies bid across the three categories, as published in the National newspapers.

The Categories were: 

*Works, comprising renovations, growth, and repairs of locomotives, coaches and rolling storks.

*Services, covering business concerns bordering on insurance, and alternative revenue generation.

Goods, which touches on supplies of lubricants, diesel (AGO), spare parts, and track materials.

Amongst the audience were professional evaluators, and representatives of the Federal Ministry of Transport, Chartered Institute of Purchasing and Management Supplies. 

Others were Non-governmental organizations like the Civil liberty, Professional bodies, Outside observers, and the members of the Fourth Estate.

Participants were made to register their details at the entry point. While, the Health Safety and Environment (HSE) was also on ground to ensure adequate care, and to nip in the bud, any health challenges.

The Naira on Monday slightly depreciated at the official market, trading at N1,234.49 to the dollar.

Data from the official trading platform of the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N64.50.

This represents a 5.51 per cent loss when compared to the previous trading date on Friday, April 19, when it exchanged at N1,169.99 to a dollar.

However, the total daily turnover increased to 110.17 million dollars on Monday, up from 86.68 million dollars recorded on Friday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,295.00 and N1,051.00 against the dollar.

CBN Governor, Yemi Cardoso, on Saturday, April 20, 2024, said the apex bank was doing everything possible to achieve a stable exchange rate.

He said the apex bank was also working to ensure that the exchange rate found its adequate price discovery level.

Cardoso said that CBN’s foreign exchange reforms were paying off and had made the naira the best-performing currency globally.

He spoke at a press conference during the annual meeting of the International Monetary Fund (IMF) and World Bank Group.

He predicted ups and downs but assured the global economic community that the Naira would steadily gain against foreign currencies.

Nigerian business leaders are to benefit from the programme of United Kingdom-based leadership development organisation TEXEM UK on how to win despite the exodus of staff, very high inflation and turbulent operating landscape.

TEXEM’s Director of Special Projects, Caroline Lucas, said on the organisation’s website, www.texem.co.uk, that the programme with the theme “Strategies for Sustainable Organisational Success” is slated for April 24 and April 25 in Lagos.

According to Lucas, in today’s volatile and disruptive business landscape, organisations face numerous strategic challenges.

“TEXEM’s programme, “Strategies for Sustainable Organisational Success,” offers tailored solutions to address these pressing issues.

“Senior leaders grappling with skyrocketing costs, high currency risks, and disruptive technologies require practical insights and tools to navigate uncertainty effectively.

“This programme provides actionable strategies for sustainable success amidst turbulent times,” she said.

Lucas asserts that exceptional crisis management skills are essential in the face of staff exodus and geopolitical disruptions.

“TEXEM equips participants with the necessary leadership capabilities to lead through crises, ensuring organisational excellence even amidst adversity.

“Innovation becomes imperative in turbulent waters.

“TEXEM’s programme fosters a culture of innovation and provides guidance on harnessing adversity as a catalyst for profitable growth,” she said.

According to her, participants will learn to turn challenges into opportunities, driving sustained profitability.

Lucas said resilience and effective risk management are crucial in today’s volatile landscape.

She said through interactive sessions and case studies, TEXEM helps senior leaders develop unshakable qualities, enabling them to navigate uncertainty and confidently mitigate risks.

“Optimizing resource utilisation is paramount amidst soaring costs.

“TEXEM offers insights on managing resources efficiently, ensuring optimal impact even amidst cost pressures. Decisive problem-solving is paramount.

“TEXEM enhances participants’ decision-making capabilities through peer learning and observation practice, empowering them to make better decisions that drive organisational success,” Lucas said.

She said that beyond the curriculum, networking opportunities with industry peers enrich the learning experience, abound.

“Professional exchange provides valuable insights into different approaches to overcoming challenges, enhancing overall learning and impact.

“TEXEM’s programme aims to develop leadership strategies for optimum performance in an era of uncertainty.

“By helping participants understand how to manage and deploy resources more efficiently, it equips them with the skills needed to thrive in turbulent times,” Lucas said.

Saying that adversity is the mother of innovation, she added that TEXEM empowers individuals and organisations to thrive in volatile times, fostering innovation and sustained profitability.

“At the end of the programme, participants can expect to develop leadership skills for better decision-making and possess survival skills to navigate crises effectively.

“Through its comprehensive approach and proven methodology, TEXEM ensures participants unlock their potential, foster innovation, and drive sustained profitability in today’s challenging environment,” Lucas said.