AIICO Insurance canvasses digital sales to boost insurance penetration
Cynthia Ezekwe
October 4, 2023
By Cynthia Ezekwe. AIICO Insurance Plc has advocated increased digital sales of insurance products and services to boost insurance penetration in Africa’s largest economy. The insurance, pensions management, and asset management group noted that Nigeria has an insurance penetration rate of 0.5 per cent, an abysmal performance, given the population of over 200 […]
UK authorities offer of Stansted, Gatwick offends Air Peace, insists on Heathrow
Sade WilliamsOctober 4, 2023
An offer by United Kingdom authorities of London Stansted and London Gatwick airports as slots access to Nigeria and West Africa leading carrier, Air Peace, has offended the Nigerian airline which insists that slots be made available to it at the ultra-busy London Heathrow for its much envisaged Lagos-London-Lagos operations. The routing arrangement, which […]
Reps move to investigate N15trn pension fund assets
Isaac JayeolaOctober 4, 2023
Business A.M The House of Representatives has resolved to initiate an inquiry into the state of pension funds, amounting to over N15.5 trillion and to recover the N10 trillion loaned to the federal government from the pension fund to avert a collapse of the pension scheme. The development is a result of an unanimous adoption […]
Nigeria PMI expands 0.9% to 51.1 as private business activities expand in September
Onome AmugeOctober 4, 2023
By Onome Amuge. Nigerian private sector business activity expanded slightly in September, a reversal from the contraction in August, reflecting a slight improvement in business activity but still showing price pressure strain on businesses, according to the Stanbic IBTC Purchasing Managers Index (PMI) report for September. The latest monthly PMI indicated a modest yet positive […]
MAN questions sustainability of FG’s 6-month VAT waiver on diesel
Cynthia EzekweOctober 3, 2023
By Cynthia Ezekwe. The Manufacturers Association of Nigeria (MAN) says the six months time frame set for the waiver of 7.5 percent Value Added Tax (VAT) on Automotive Gas Oil (AGO), commonly called diesel, by the federal government will not bring sustainable and effective solutions to the country’s economic challenges. Mohammed Idris, the […]
Mixed reactions trail Nigeria’s top 10 motor insurers’ N33.6bn premium in 2021
Cynthia EzekweOctober 2, 2023
By Cynthia Ezekwe. Despite playing a very significant role in mobilisation of investable resources, specifically in the insurance industry, the demand for and penetration of motor insurance in Nigeria has been found to be at a snail pace, but not surprising for a country where financial systems are not sufficiently robust. A 2022 report by […]
Again, insurance thought leaders examine issues in claims management
Business a.m.October 2, 2023
Business A.M The Nigerian insurance industry has witnessed a significant growth in recent years. However, claims management, which is considered the heartbeat of any insurance company, is fraught with challenges that has contributed to poor image of the industry and low penetration of the insurance services. Modern insurance infrastructure developer,AgentSync defines insurance claims management as […]
Reprieve for cement consumers as BUA Cement crashes ex-factory price 24.7% to N3,500
Onome AmugeOctober 2, 2023
By Onome Amuge BUA Cement PLC has led the charge towards making cement affordable for consumers, especially those in the building and construction industry, following a 24.7 per cent reduction of the price of its ex-factory cement product from N4,650 to N3,500 which takes effect from Monday, October 2, 2023. The second largest cement producer […]
AfDB issues climate finance guidelines for Nigeria,others
Business a.m.September 29, 2023
Business A.M The African Development Bank Group (AfDB) has released country-by-country economic reports to support Nigeria and other African policymakers in accessing the much needed climate finance for a green economy. The multilateral development finance institution made the disclosure in a report titled, “Mobilising Private Sector Finance for Climate and Green Growth in Africa”, launched […]
Google opens applications for N75 million Hustle Academy Fund to empower 15 Nigerian SMEs
Business a.m.September 28, 2023
Google opens applications for N75 million Hustle Academy Fund to empower 15 Nigerian SMEs Google has announced the opening of applications for the Hustle Academy SMB Fund, a N75 Million equity-free fund dedicated to amplifying the ambitions of Nigerian Small and Medium-sized Enterprises (SMEs). This initiative, offering N5 Million to 15 Nigerian small business owners, […]