NNPC,Indorama seal $7bn gas supply deal to unlock $18bn lifetime revenue
Onome Amuge
September 19, 2023
By Onome Amuge. The Nigerian National Petroleum Company (NNPC) Limited has signed a memorandum of understanding (MoU) with Indorama Eleme Petrochemicals Company Limited to promote the use of natural gas by large-scale gas utilisation industries. The deal, estimated at $7 billion, was signed by Mele Kyari, the group chief executive of the NNPCL, on behalf […]
Premium flight: Experts weigh in with capacity building, collaboration as panacea
Cynthia EzekweSeptember 18, 2023
By Cynthia Ezekwe. Insurance experts have called on insurers to build capacity, and collaborate to address the high rate of premium leaving their markets to foreign markets. Annually, huge capital leaves the shores of the regional and sub-regional insurance market in Africa, to overseas markets in Europe and America through reinsurance, brokerage business, and underwriting […]
Why insurance remains an ideal adaptation strategy to climate change
Cynthia EzekweSeptember 18, 2023
By Cynthia Ezekwe . Climate change is increasingly becoming an area of engagement by many developing countries, as a result of how it affects many sectors across the globe, which have resulted in the exploration of meaningful options for managing and transferring risks associated with climate change. A 2019 Insurance Banana skins report from […]
Dangote steps up efforts mitigate green house emission across subsidiaries
Business a.m.September 18, 2023
Pan-African Conglomerate, Dangote Group has, in line with global best practice,deployed cutting-edge technology and other measures to mitigate emission of Green House Gas (GHG), and its impacts in all its subsidiaries. This has driven the company’s investments in modern equipment such as analysers, opacimeters, and other continuous emissions monitoring systems used to measure greenhouse gas […]
Fidelity Bank boosts international portfolio with 100% acquisition of Union Bank UK
Business a.m.September 15, 2023
Fidelity Bank has strengthened its strategic initiative on international expansion following the completion of a 100 per cent acquisition of Union Bank UK, a subsidiary of Union Bank Plc. The full-fledged commercial bank said that the buyout is furtherance to its notice of acquisition made on August 2, 2022, which was approved by the Bank […]
UBA’s expanding market share lifts profit after tax 437.8% to N378bn in H1’23
Cynthia EzekweSeptember 15, 2023
By Cynthia Ezekwe. United Bank for Africa (UBA) Plc, recorded a 437.8 per cent surge in profit after tax to N404 billion, for the half year ended June 30, 2023, from N70.33 billion recorded in the same period of 2022, driven by growth across key income areas and substantial progress in expanding market share from […]
Schweppes New Bottles Spark Consumers Excitement
Isaac JayeolaSeptember 14, 2023
Schweppes, the premium and invigorating beverage renowned worldwide, has launched its elegant 40cl PET bottles into the Nigerian market. This sophisticated packaging aims to provide consumers with an elevated and gratifying refreshment experience. Now available at various retail outlets, the new 40cl Schweppes PET Bottle showcases three delectable variants: Mojito, Chapman, and Pineapple with malt […]
Leadway Assurance launches index-based livestock insurance to cushion climate risks
Cynthia EzekweSeptember 13, 2023
By Cynthia Ezekwe. Nigerian Insurance firm, Leadway Assurance has launched an index-based livestock insurance (IBLI) product to provide unprecedented climate-smart risk management support to Nigerian livestock farmers, cattle herders and pastoralists. Index-based livestock insurance is a unique insurance product that relies on real-time data and indices, such as weather patterns and livestock health indicators, to […]
AfDB unveils insurance facility to cushion against climate change impacts
Cynthia EzekweSeptember 12, 2023
By Cynthia Ezekwe In a concerted effort to scale up support to insure countries and households against extreme weather patterns, the African Development Bank (AfDB) has unveiled the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA). The facility expands the bank’s pioneering Africa disaster risk insurance programme into a facility that will develop insurance to […]
Mutual Trust MFBank unveils N10m solar financing for renewable energy
Business a.m.September 12, 2023
Business A.M Mutual Trust MFBank Limited, one of Nigeria’s leading microfinance banks has commenced the advancement of loans up to N10 million per head, to workers in public and private sectors towards the acquisition of solar panels, batteries, inverters, and clean and renewable energy equipment. The loan dubbed “solar loan” is designed to help […]