Stakeholders at Inspenonline Retirement Summit Advise Workers on Strategic Retirement Plan

22/05/2026

L-R: Idu Okwuosa-Okeahialam, Group Managing Director/CEO, Royal Exchange Plc; Ibrahim Buwai, Head of Corporate Communications/representative of the Director General, National Pension Commission; Tom Ogboi, Chairman, STI Leasing Ltd/Chairman of occasion; Julius Odidi, Head, NAICOM Lagos Control Office, and Chuks Udo Okonta, Publisher, Inspenonline/Promoter Retirement Summit during the Inspenonline Retirement Summit 2026 in Lagos on Wednesday.

Stakeholders at the 2026 Inspenonline Retirement Summit have advised workers across both the formal and informal sectors of the economy to strategically plan their retirement utilising multiple available windows.

While advocating an increased subscription to insurance and pension products, experts at the event in Lagos, urged Nigerians to initiate retirement planning early in their career paths to ensure a comfortable life after active service.

The Chairman of STI Leasing Limited Mr. Tom Ogboi, applauded the organisers of the summit, calling for heightened sensitisation on how workers can enjoy life post-retirement.

Sharing his personal experience, Ogboi disclosed that he retired as far back as 2002 and has been able to enjoy his retirement doing what he loves due to strategic planning.

He emphasised that preparing for this phase of life must be intentional for every worker.

In the same vein, the Chief Executive Officer (CEO) of the Centre for the Promotion of Private Enterprise (CPPE) Dr. Muda Yusuf, lamented the current plight of retirees in Nigeria.

He noted that many ex-workers who dedicated their active years to service are now suffering due to systemic collapse and low retirement awareness.

To mitigate this, Yusuf advocated for the creation of a specialised government agency saddled with the responsibility of: Increasing public awareness and advocacy. Driving enlightenment and education on retirement matters. Ensuring workers actively structure their retirement plans while still in active service.

Addressing the gathering, the Media, Branding, and Communications Lead at the Pension Fund Operators Association of Nigeria (PenOp), Olajumoke Akinwunmi, stated that the pension industry has evolved significantly to ensure retirees receive their benefits as and when due.

She added that pension fund assets have grown consistently, yielding strong investment returns to deliver value to contributors.

Akinwunmi highlighted the Personal Pension Plan (PPP) as a tool designed to bring flexibility to pension onboarding, particularly for players in the informal sector.

She disclosed that individuals from the age of 18 are eligible to onboard, noting that the plan offers numerous benefits aimed at supporting businesses and livelihoods both during working years and in retirement.

The Publisher of Inspenonline and Convener of the Summit, Mr. Chuks Udo Okonta, explained that the initiative was established three years ago to bridge the critical knowledge gap clouding retirement matters in Nigeria.

“When you search online for localised information on retirement matters, you hardly find comprehensive data. There is a lack of serious advocacy locally, and as a media platform, we felt this is one of the ways we can deepen retirement education. We will continue this drive until every worker is fully enlightened,” Okonta said.s

Also speaking at the event, the Commissioner for Insurance, Mr. Olusegun Omosehin, who was represented, urged workers to utilise the instrumentality of insurance products to secure a stable retirement.

Concurrently, the Director-General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran—represented by the Head of Corporate Communications at PenCom, Mr. Ibrahim Buwai, noted that the commission has enhanced and revolutionised pension administration in Nigeria through its Pension Revolution 2.0 initiative.

He disclosed that the recently rebranded Micro Pension Plan (MPP) has been strategically repositioned to offer more robust, accessible, and secure long-term financial safety nets for self-employed Nigerians and informal sector workers.

NGX Group Advances Investor Education Drive with Digital Retail Engagement Initiative

Business Journal

22/05/2026

Nigerian Exchange Group has intensified its investor education drive through a digital engagement initiative aimed at improving financial literacy and deepening retail participation in the Nigerian capital market.

The Group recently hosted an X Space session themed “Follow the Fundamentals: A Beginner’s Guide to the Stock Market,” reaching over 5,000 users, largely young Nigerians, first-time investors, and retail market participants seeking to better understand investment opportunities in the capital market.

Featuring social media investment influencer, Omiete Inko-Tariah, alongside representatives from Nigerian Exchange Limited and NGX Regulation Limited, the session demystified key concepts around market operations, investor protection, and safe participation. Beyond education, it served as an open forum where retail investors engaged directly with market stakeholders on issues of confidence, transparency, and accessibility.

Speaking on the initiative, Clifford Akpolo, Head, Group Communications and Partnerships at NGX Group, said: “Deepening retail participation is critical to building a more resilient, inclusive, and sustainable capital market. At NGX Group, we believe financial literacy is not just an educational responsibility, it is a strategic imperative for strengthening investor confidence, improving market accessibility, and expanding long-term wealth creation opportunities for Nigerians. Through digital platforms like this, we are leveraging innovation to connect with the next generation of investors and democratize access to market knowledge.”

The initiative forms part of NGX Group’s broader sustainability agenda under its Community pillar, which focuses on advancing financial literacy, inclusion, and economic empowerment through education-driven and stakeholder-focused programmes.

Following the success of this edition, NGX Group plans to sustain similar engagements as part of its ongoing commitment to strengthening investor confidence, deepening retail participation, and building a more resilient and inclusive investment ecosystem.

NLNG Train 7: A Catalyst for Nigerian Content, Industrial Growth

Business Journal

22/05/2026

Nigeria LNG Limited (NLNG) says its Train 7 project is a catalyst for Nigerian Content development and industrial growth.

Managing Director and Chief Executive Officer, Adeleye Falade made the remark during a panel on Nigerian Content support, lessons, experiences and success stories at the Nigerian Oil & Gas Midstream & Downstream Summit (NOGMDS) 2026 in Lagos. Falade was represented on the panel by Train 7 Project Manager, Ali Uwais.

Falade described Train 7 as more than an LNG expansion; he called it “a practical model for intentional localisation of expertise,” and a compelling example of how Nigerian Content can drive industrial capability and deliver projects at global scale.

He also commended the Nigerian Content Development and Monitoring Board (NCDMB) for organising the summit and sustaining efforts to advance growth across Nigeria’s oil and gas sector.

Speaking further at the panel session, Uwais outlined the project’s achievements, saying Train 7 has recorded over 120 million man-hours and achieved roughly 92 percent Nigerian Content participation—evidence, he said, of NLNG’s deliberate strategy to strengthen local capability and broaden participation across the project value chain. He attributed the success to extensive industry engagement, structured Nigerian Content plans, and targeted investments to build local capacity.

Drawing on lessons from earlier trains, he said the Train 7 team used a strategic, data-driven approach to assess local capabilities and identify meaningful participation opportunities that meet international standards. That structured approach, Uwais said, enabled higher local involvement and ensured Nigerian companies were integrated into project execution from the outset.

“Several fabrication activities typically carried out abroad were successfully executed in-country. Nigerian firms fabricated pressure vessels, structural steel components, valves, blocks, pipes, lighting systems, cables, and painting materials for the project. NLNG deliberately identified local manufacturers with growth potential and provided targeted support to help them reach international quality-assurance standards, rather than relying solely on conventional quality-control checks” he said.

Uwais also recalled collaboration with foreign technical partners to help Nigerian firms transition from asbestos-based gaskets to safer carbon-graphite alternatives. The initiative included equipment support and international testing certification to strengthen local manufacturing capability.

“These interventions reflect NLNG’s broader philosophy of treating Nigerian Content not merely as a compliance obligation but as a long-term development opportunity capable of delivering sustainable value beyond project execution,” Uwais said. “Our focus has been on building lasting value. We have seen Nigerian companies participate in fabrication and manufacturing activities, while universities and institutions increasingly contribute through research, innovation, and technical development. These are critical foundations for sustainable industrial growth.”

Train 7 remains one of Nigeria’s largest ongoing energy investments. When completed, it is expected to raise NLNG’s production capacity from 22 million tonnes per annum to 30 million tonnes per annum—a 35 percent increase in Nigeria’s LNG export capacity.

Summit discussions reinforced broader industry conversations on sustaining capability gains from major projects and ensuring continued investment in skills development, manufacturing capacity, and infrastructure.

A recurring message at the event was that Train 7’s enduring legacy may be defined not only by production milestones but by the industrial capability, technical expertise, and national capacity it helps leave behind.

Nnamdi Azikiwe University

NAICOM Leadership Pays Condolence Visit to the Family of Late Rotimi Edu

Business Journal

22/05/2026

L-R: Mr. Ola Gam-Ikon, Deputy Commissioner, Finance and Administration, NAICOM; Mr. Olusegun Ayo Omosehin, Commissioner for Insurance, NAICOM; Mrs. Edu, the Widow; Dr. Usman Jankara, Deputy Commissioner, Technical, NAICOM and other visitors.

The National Insurance Commission (NAICOM), led by Commissioner for Insurance Mr. Olusegun Ayo Omosehin, visited the family of the late Barrister Rotimi Edu. The leadership came to commiserate with the family and honor his remarkable legacy.

Barr. Edu’s life was a true celebration of service and impact, marked by his invaluable contributions to the growth and development of the insurance sector. His dedication, leadership, and vision will continue to inspire generations within the industry.

NAICOM stands in solidarity with his loved ones during this period of grief, while cherishing the enduring memory of his achievements and the indelible mark he left on the profession.

NDIC, NILE University Host Immersion Challenge for Business School Students

Business Journal

22/05/2026

L – R: NDIC’s Executive Director (Operations), Dr. Kabiru S. Katata; Team Lead, Nile University Business School, Engr. Bamidele Kayode; NDIC’s MD/CE, Mr. Thompson Oludare Sunday; and Nile University Business School Team Member, Ogo Akabogu during the closing ceremony of the NDIC/Nile University Business School Executive Industry Immersion Challenge.

The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to talent development and stronger industry-academia collaboration, through the platform of the Executive Industry Immersion Challenge (EIIC) programme that was conducted in partnership with the Nile Business School, Nile University of Nigeria, Abuja.

Speaking at the opening ceremony of the 4-day programme at the Corporation’s Head Office in Abuja, the Managing Director/Chief Executive of the NDIC, Mr. Thompson Oludare Sunday, described the initiative as strategic in addressing the widening gap between the academia and the business community.

According to the NDIC Chief Executive, the rapidly evolving global work environment requires professionals who possess both theoretical knowledge and practical insight into the realities of the corporate world. In his words, “the Executive Industry Immersion Challenge has provided the NDIC with the opportunity of a practical platform to expose participants to real-world experience in policy formulation, institutional governance, and public sector management.”

The Managing Director reiterated the commitment of the NDIC as a critical financial safety-net institution, to the promotion of financial system stability and enhancement of depositor confidence in the financial system. He urged participants, who are students of the executive NBA programme of the University, to embrace the positive values that will be learnt during the programme and adopt them as guiding principles for leadership and national development.

He stressed that institutions can only command public confidence when their actions consistently reflect honesty, sound ethical conduct, good governance and transparency.

The Project Coordinator of the programme for the NDIC and Director, Research, Policy & International Relations Department, Mr. Ibrahim Aliyu, explained that the EIIC had been consciously designed as an experiential learning initiative aimed at bridging the gap between theory and industry practice.

In his remarks, the Dean of the Nile Business School, Prof. Hauwa Lamido, represented by a senior faculty member, Dr. Festus Ekechi stated that, the choice of the Corporation for the Industry Immersion Programme was informed by its footprint of sound corporate governance, professionalism and integrity in the nation’s financial landscape.

He assured that the School would take conscious steps toward integrating all the learning points from the exercise into its curriculum with a view to ensuring practical application the knowledge by the participants in their places of work.

BUA Foods: Financial Times Recognition Highlights the Scale, Resilience, Global Relevance of Nigerian Manufacturing

Business Journal

22/05/2026

BUA Foods Plc has been recognised in the 2026 edition of the Financial Times’ Africa’s Fastest Growing Companies ranking, reinforcing the company’s emergence as one of Africa’s leading industrial growth stories and underscoring the increasing global relevance of large-scale manufacturing businesses driving economic transformation across the continent.

Published annually since 2021 by the Financial Times in collaboration with Statista, the ranking recognises companies across Africa that recorded the highest compound annual growth rates (CAGR) in revenue between 2021 and 2024, spotlighting businesses contributing significantly to economic expansion, industrial development, market growth, and long-term value creation.

BUA Foods’ inclusion in the ranking reflects the Company’s strong growth trajectory and operational resilience within one of Africa’s most challenging business environments. Between 2021 and 2024, the company recorded a CAGR of 66.13% in revenue, driven by sustained expansion across its core food categories, rising consumer demand, and continued market penetration across Nigeria and the broader African market.

Over the same period, BUA Foods also recorded a CAGR of 118% in market valuation, with its valuation increasing from approximately N720 billion in 2021 to about N7.47 trillion by the end of 2024. This growth reflects strong investor confidence in the company’s long-term strategy, operational scale, and ability to deliver sustained value despite macro-economic volatility across Nigeria and broader African markets.

The company’s valuation has continued to strengthen beyond the review period, with BUA Foods currently valued at approximately N17.41 trillion, reinforcing its position as one of Africa’s most valuable and profitable consumer goods and manufacturing companies.

The sustained increase in market value further reflects investor confidence in the Company’s earnings capacity, long-term growth trajectory, and strategic importance within Nigeria’s industrial and food production landscape.

The company’s strong performance and sustained growth trajectory have also continued to receive continental recognition. Recently, the Chairman of BUA Foods, Alhaji Abdul Samad Rabiu, was awarded CEO of the Year at the 2026 Africa CEO Forum held on May 14, 2026, in Kigali.

The recognition was bolstered by the stellar performance of BUA Foods and the Chairman’s exceptional business achievements across industrial sectors in Nigeria and beyond, further underscoring the growing influence of Nigerian industrial and manufacturing businesses on the African economic landscape.

The Financial Times recognition comes amid a period of significant global economic headwinds. Despite these challenges, BUA Foods continued to strengthen its market position through sustained investments in production capacity, operational efficiency, supply chain optimisation, and expanded distribution across its sugar, flour, pasta, and rice businesses.

As one of Africa’s leading food businesses, BUA Foods continues to play a strategic role in advancing food security, industrialisation, and economic growth through large-scale local manufacturing and long-term investments across its operations.

The Financial Times ranking further reinforces the Company’s position as one of the continent’s most significant industrial growth stories and highlights the growing contribution of African manufacturing businesses to global economic discourse.

About BUA Foods Plc

BUA Foods Plc is a leading Nigerian food manufacturing and processing company listed on the Nigerian Exchange Limited. The company is engaged in the processing, manufacturing, and distribution of essential food products, including sugar, flour, pasta, rice, and edible oils.

Incorporated in 2021 following the consolidation of key businesses under BUA Group, BUA Foods operates multiple production facilities across Nigeria and serves millions of consumers across Nigeria and West Africa.

The company is committed to advancing food security, delivering high-quality and affordable food products, and creating sustainable value for stakeholders through innovation, operational excellence, and responsible business practices.

Nnamdi Azikiwe University Students Clinch ₦5m Top Prize at Heirs Insurance Hackathon Competition

Business Journal

20/05/2026

Winners of the 2026 Heirs Insurance Hackathon from Nnamdi Azikiwe University – John Trust, Unah Chinweotuto, John Justice; with leaders of Heirs Insurance Group: Peace O. Philips, Chief Digital Officer, Niyi Onifade, MD/CEO, Heirs Life Assurance; Callista Azogu, Independent Non-Executive Director, Heirs Life Assurance, and Wole Fayemi, MD/CEO, Heirs General Insurance.

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has announced the winners of the 2026 Heirs Insurance Hackathon; a competition empowering university students to shape the future of digital insurance.

Following a rigorous judging process by industry professionals, the top winners emerged: Team Omnivoice from Nnamdi Azikiwe University emerged as the overall winner, taking home the grand prize of ₦5 million; Team Alafia from Ahmadu Bello University Zaria secured second place with a ₦3 million prize; while Team Von Mises from Lagos State University came third and received ₦1 million. The winning team comprised Unah Chinweotuto, John Justice, and John Trust.

The grand finale, which was held at Heirs Towers, Lagos, brought together brilliant young tech talent, industry experts, and mentors to celebrate innovation in the insurance sector. The maiden edition attracted a significant number of entries from students at higher learning institutions across the country, all presenting fresh, practical ideas aimed at transforming insurance in Nigeria.

Themed “The Future of Insurance: Streamlining Insurance with AI”, the Hackathon reflects Heirs Insurance Group’s strong commitment to youth empowerment, digital skills development, and inclusive innovation. It gave students a real platform to apply emerging technologies to actual challenges in the insurance industry while receiving mentorship and industry exposure.

Speaking at the grand finale, Peace O. Philips, Chief Digital Officer of Heirs Insurance Group, said: “We are truly impressed by the outstanding creativity, technical depth, and practical solutions showcased by these young talents today. This maiden hackathon has exceeded our expectations and clearly demonstrates the immense potential of Nigerian youth to solve real insurance challenges using Artificial Intelligence and digital innovation,” he said.

The Heirs Insurance Hackathon was delivered in partnership with Redtech, the digital payment solutions arm of Heirs Holdings.

Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.

With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group, comprising Heirs General Insurance Limited, Heirs Life Assurance Limited, and Heirs Insurance Brokers, serves both corporate and individual customers across Nigeria.

Heirs Insurance Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.

Leadway Assurance Claims Payout of N137bn in 2025 Reinforces Market Leadership, Customer Trust

Business Journal

20/05/2026

Against the backdrop of a challenging yet progressively stabilising macroeconomic environment, Leadway Assurance, Nigeria’s leading insurance services provider and a member of the Leadway Group, has once again demonstrated its position as the nation’s most dependable insurer, delivering a robust financial performance for the 2025 financial year.

Central to the company’s 2025 performance was its commitment to standing by policyholders through prompt and consistent claims settlement. Consequently, claims expenses rose by 17%, from N117 billion in 2024 to N137 billion in 2025, affirming Leadway’s formidable capacity to honour obligations across its life, annuity, and non-life portfolios, and its continued role as a dependable financial safety net for millions of customers navigating losses in these uncertain times.

The non-life portfolio accounted for N55.4 billion of total claims expenses, while annuity payouts reached N57.9 billion, and life business claims accounted for N23.7 billion. These figures validate the scale of Leadway’s operations and its sustained leadership across multiple insurance segments.

This is evident in the financial performance datasets with insurance revenue growing by 30% from N173.2 billion in 2024 to N225.3 billion in the year under review, driven by broad based growth across all business classes and resilient customer demand for insurance solutions aligned with the realities of an evolving market.

Total assets grew to N1.155 trillion from N1,024 trillion, further reinforcing the company’s strong balance sheet, liquidity position, and capacity to meet policyholder obligations while pursuing sustainable long-term growth.

Commenting on the results, Gboyega Lesi, MD/CEO of Leadway Assurance, stated: “Our 2025 performance reflects the resilience of our business model, the trust our customers continue to place in the Leadway brand, and our unwavering commitment to honouring obligations when customers need us most. Paying N137 billion in claims across our annuity, life, and non-life portfolios demonstrates the strength of our balance sheet and our customer first commitment” he said.

“As the industry evolves under the Nigerian Insurance Industry Reform Act 2025, we remain well positioned to drive innovation, deepen insurance penetration, strengthen digital capabilities, and deliver sustainable long-term value to our customers and stakeholders.”

Lesi added: “Leadway would continue to prioritise technology-driven innovation, enhanced customer experience, operational efficiency, and product development initiatives aimed at expanding access to insurance solutions across Nigeria.”

With increasing insurance awareness, growing adoption of digital distribution channels, and ongoing regulatory reforms within the Nigerian insurance sector, the company remains optimistic about the industry’s long-term growth prospects and its ability to maintain market leadership.

About Leadway Assurance

Leadway Assurance is one of Nigeria’s leading insurance companies, providing a wide range of financial protection services including life insurance, general insurance, among other financial solutions.

With 55 years of experience, Leadway is dedicated to delivering innovative solutions and superior service to its customers.

AIICO Deepens Commitment to Education, Capacity Development with Upgrade of CIFM Learning Hall

Business Journal

20/05/2026

AIICO Insurance Plc, one of Nigeria’s leading insurance and financial services providers, has reaffirmed its long-standing commitment to education, capacity development, and people empowerment.

The company believes that meaningful progress; for individuals, for industries, and for nations — begins with deliberate investment in learning and human potential, and continues to channel its resources towards initiatives that nurture talent and equip people for the future.

Over the years, AIICO has consistently invested in programmes and partnerships that strengthen knowledge, build professional competence, and create opportunities for individuals to thrive.

From workforce development to other broader social impact initiatives, the company’s philosophy remains clear: people are the most enduring asset of any organisation, and empowering them is the surest path to sustainable growth.

It is in this spirit that the company has completed the upgrade of the AIICO Hall at The College of Insurance and Financial Management (CIFM) — a hall that has long borne the AIICO name. The renovation is the latest expression of the company’s belief that the spaces in which people learn must evolve alongside the demands of a changing world.

The newly upgraded hall has been outfitted with state-of-the-art multimedia infrastructure, modern audio-visual systems, and other contemporary facilities designed to deliver an optimum learning experience. The improvements are intended to support immersive teaching, interactive learning, and hands-on training for students and professionals progressing through the College.

Beyond the four walls of the upgraded hall, the impact of this initiative extends to the broader society. Every learner who passes through the facility — whether an aspiring insurance professional, a finance specialist, or an industry executive seeking advanced training — benefits from an environment built to support meaningful, future-ready learning.

By investing in such infrastructure, AIICO is contributing to the long-term strengthening of Nigeria’s insurance and financial services ecosystem and to the development of a skilled workforce capable of driving sustainable economic growth.

Speaking on the initiative, Mr. Babatunde Fajemirokun, the Managing Director/Chief Executive Officer of AIICO Insurance Plc said:

“At AIICO, we have always believed that the most enduring investment any organisation can make is in people. Education, capacity development, and empowerment are the threads that run through everything we do — and they are how we choose to give back to the society that has supported our growth. The upgrade of this hall is a tangible expression of that commitment. Learning needs evolve, technology evolves, and the experiences our learners deserve must evolve with them. We are proud to play a part in shaping an environment where the next generation of insurance and financial professionals can be properly equipped to lead the industries of tomorrow.”

The upgrade of the AIICO Hall is part of the company’s broader and ongoing commitment to corporate social responsibility, education, and human capital development across Nigeria.

AIICO Insurance pledges to continue supporting initiatives that build capacity, empower people, and strengthen the foundations of the insurance and financial services industry for generations to come.s

About AIICO Insurance Plc

AIICO Insurance is a leading composite insurer in Nigeria, with a 63-year record of accomplishment in delivering quality service to its clients. Founded in 1963, AIICO provides life and general insurance, health insurance, and investment management services to create and protect wealth for individuals, families, and corporate customers.

Repton GMD Underlines Diligence, Determination in Goal Realisation

Business Journal

20/05/2026

L-R: Otunba Odeyeyiwa Kazeem Olayemi, GMD/CEO Repton Group, Keynote Speaker; Chief Adebayo Salami (aka Oga Bello) and a Female Guest at the Emiralty Connect 1.0 Conference 2026 held in Lagos recently.

By Goke Ilesanmi

Otunba Odeyeyiwa Kazeem Olayemi, GMD/CEO of Repton Group has said achievement of life goals requires diligence, strong determination, clarity of vision, positive mental attitude, constant self-development, embrace of excellence and effective networking.

The CEO of Repton Group, a conglomerate with subsidiaries such as Kazab Heritage Limited (for distribution); Defrost Ventures Limited (for haulage and logistics); Kazab Oil and Gas; Heritage Engineering Services Limited, and Kazab Homes and Properties, gave the tips as the Keynote Speaker at the Emiralty Connect 1.0 Conference 2026 held in Lagos recently.

Odeyeyiwa who spoke on the theme, “From Scar to Shine: Reflections on Struggles, Breakthrough and Impacts”, said ability to actualise your life goals naturally begins with setting those goals in the areas of passion and natural capacity.

In his words: “You also need clarity of vision, strong determination, positive mental attitude, tenacity, steady embrace of diligence and excellence, continuous self-development, effective networking, adaptability and massive investment of efforts until success is attained.”

Using his life experience for illustration of the thematic focus, Odeyeyiwa said: “All these requirements are obligatory because the road to success is naturally long, narrow, bumpy, dangerously-curved, terrifying and demanding. Successful passage along this turbulent road requires a large dose of the mixture of these prescribed attitudinal tonics” noted the Repton CEO.

While emphasising the importance of self-development to achievement of life goals, particularly career advancement, Odeyeyiwa said: “At Lafarge, I developed strong interest in self-development. In fact, I had a strategic plan that within ten years, I would ensure that every year, I would sit for professional examinations to enhance my knowledge and enrich my CV. At Lafarge, I worked at the very senior level in different capacities. For instance, I worked as the Audit and Internal Control Manager, Plant Controller/Head of Finance and Control, Expansion Senior Finance Manager, Sales and Administrative Manager, etc.

“Eventually, I decided to resign so that I could start my own business. To underline my strong determination to quit paid employment, I did not tell my wife about the resignation until after two months because she might not approve of my weird decision of leaving the comfort of a well-remunerated job in a multinational to embark on the voyage of uncertainty of managing my own business, especially without sufficient working capital. I have every reason to thank God Almighty for my career success there.”

Odeyeyiwa said there is similarity between the human life journey and running a business or managing an economy.

According to him, “the human life journey can be likened to running a business and managing an economy because all of them involve a gradual yet demanding process that must be followed before success can be achieved. It is noteworthy that almost all successful individuals have unpleasant but inspiring stories of a very tough beginning and bumpy path to eventual success to tell.”

The Repton CEO added that just as the physical human growth or development involves a definite sequence, beginning with prenatal development and continuing through infancy, childhood, adolescence and finally to adulthood, and characterised by

different challenges, so also does running a business or managing an economy involve a sequential process. According to him, “It is rare for a legitimate and standard business to just start operations and immediately begin to record impressive profit from the first day just as it is difficult for an economy to just make a sudden development leap from the developing stage to the fully-developed stage almost instantly.”

Odeyeyiwa said managing a business is full of ups and downs even at the best of times. He added that there is for preparedness for business eventualities while also hoping for the best. According to the Repton CEO, “To be successful in your business, you must have entrepreneurial mentality which involves resilience, patience and the discipline of sacrificing current comfort for future success. You must equally be adaptable and innovative.

“In the same vein, managing a national economy too is not a bed of roses. It often requires visionary and resolute leadership that can take radical, unpopular but necessary decisions and actions in some difficult situations for economic survival and/or long-term benefits of the citizenry. Managing a national economy equally involves having patriotic, well-enlightened, patient and reasonable followership that places national interest above personal or partisan interest.”

Odeyeyiwa said based on his personal experience, he would like to conclude that making successful transition from the scar of uncertainty and challenges to the shine of success destination and even becoming a shining example, is extremely exhausting.

“As I have said earlier, it requires strong determination, self-discipline, clarity of vision, total focus, positive mental attitude and resilience because winners never quit and quitters never win,” the Repton CEO concluded.

CIG Motors: Pay ₦3m For a Brand New Car in May Splash Promo on Electric, Petrol Vehicles

Business Journal

15/05/2026

New campaign introduces EasyPay auto-financing, major discounts and nationwide dealership expansion opportunities

CIG Motors has officially launched its nationwide “May Splash” promo campaign, introducing aggressive vehicle price reductions, flexible auto-financing access through CIG EasyPay and new dealership opportunities across Nigeria as the company accelerates efforts to expand mobility access and vehicle ownership nationwide.

The campaign, which runs from May to June 2026 or while stock lasts, gives customers access to discounted promo and pre-order pricing across selected Wuling, GAC and JMC vehicle models through the dedicated May Splash portal at CIG Motors Deals Page.

As part of the campaign, CIG Motors is also introducing a stronger auto-financing conversation through the CIG EasyPay platform in partnership with leading financial institutions, allowing qualified customers to begin vehicle ownership with down payments starting from as low as ₦3 million depending on the selected vehicle category and financing structure.s

The EasyPay initiative is designed to make vehicle ownership significantly more accessible for salary earners, entrepreneurs, SMEs, transport operators, ride-hailing drivers and growing businesses seeking flexible repayment options instead of one-time full payment purchases.

According to the company, the integration of financing into the May Splash campaign represents a major shift in how Nigerians can approach vehicle ownership.

“For many Nigerians, vehicle ownership has traditionally required full upfront payment, which limits access for millions of hardworking individuals and businesses. Through CIG EasyPay, we are changing that conversation by creating more practical and flexible pathways to own brand new vehicles,” the company stated.

Under the May Splash promo, the GAC Aion Y EV is available at a special pre-order price of ₦36 million, reduced from ₦40 million, offering customers access to a spacious, technology-driven fully electric SUV built for modern professionals, families and forward-thinking drivers.

The Wuling Bingo EV is now available at ₦23 million, providing stylish and efficient electric mobility for urban users seeking comfort, practicality and low running costs. The Wuling Yep EV is available at ₦25.5 million, bringing compact SUV styling, youthful character and electric performance to Nigeria’s growing EV market.

The Wuling XC250 is available at ₦22 million, delivering an affordable and dependable petrol-powered option for customers seeking efficient daily mobility. The Wuling N111 Cargo and Mini Shuttle variants start from ₦13 million, creating strong opportunities for logistics companies, SMEs, commercial transport operators and growing businesses.

For customers seeking rugged commercial performance, the JMC Vigus 1 pickup truck is available at a promo price of ₦36 million, combining durability, strong payload capability and work-ready performance for Nigerian roads and operational environments.

According to CIG Motors, the May Splash campaign was strategically developed to support increasing demand for affordable mobility, electric vehicles, commercial transportation and flexible financing solutions while also strengthening the company’s expanding national dealership and aftersales ecosystem.

“This campaign reflects the future direction of mobility in Nigeria. Customers want stronger value, better financing access, smarter technology and trusted aftersales support. May Splash creates opportunities not only for buyers, but also for dealers, fleet operators, entrepreneurs and mobility-focused businesses across the country,” the company added.

The company also confirmed that interested dealership partners nationwide can engage directly with the CIG Motors team to explore opportunities within its expanding distribution network as the company continues to deepen its national footprint across passenger vehicles, commercial transportation, electric mobility and financing partnerships.

Over the past decade, CIG Motors has evolved into one of Nigeria’s leading automotive companies with operations spanning vehicle sales, assembly, aftersales, financing partnerships and mobility innovation. The company currently represents multiple global automotive brands and continues to expand its investment in accessible and future-focused mobility solutions across Nigeria.

The May Splash campaign is currently active nationwide through authorised CIG Motors channels and dealerships.

Understanding Why Corporates Need Credit Rating

Business Journal

15/05/2026

In today’s dynamic financial landscape, silence leaves room for speculation. If your institution is not proactively communicating its financial resilience, the market is left to draw its own conclusions.

Taking control of your financial narrative is your most powerful competitive advantage.

A Credit Rating from DataPro eliminates the guesswork for your investors, stakeholders, and partners. We have built a reputation on delivering solutions grounded in expert knowledge and robust judgment. As the fastest-growing Credit Rating Agency in Africa licensed by the Securities and Exchange Commission (SEC), we provide an end-to-end scientific and electronic rating process that eliminates extraneous factors.

Why partner with DataPro for your next rating?

Agility: We do not believe in drawn-out processes. Your comprehensive Corporate, Bond, or Fund Rating is delivered in exactly 4 weeks.
Global Best Practices: Our methodology is enriched by our international exposure backed by domestic knowledge, experience, and expertise.
Unmatched Track Record: We are the trusted rating partner for industry leaders in Banking, Manufacturing, Oil and Gas, Insurance, Fund Management, Logistics and Haulage, Agro Exports, Real Estate, Mining, Hospitality, ICT, Construction, Health, Education, among many other sectors.

Whether you are preparing for expansion, issuing debt, or simply solidifying your market authority, an official rating ensures you dictate the conversation around your financial health.

Are you ready to communicate your corporate soundness to the market with confidence?

Distinguished Industry Veteran, Olusola Teniola, to Chair NDSF 2026

Business Journal

15/05/2026

The organising committee of the 2026 Nigeria DigitalSENSE Forum (NDSF) on Internet Governance for Development (IG4D) is proud to announce Dr. Olusola Teniola as the Chairman for this year’s landmark event.

A seasoned leader with over 32 years of global experience in the telecommunications and technology sectors, Dr. Teniola brings a wealth of strategic expertise to the forum.

The Convener of NDSF and Group Executive Editor, ITREALMS Media group, Ogbuefi Remmy Nweke, welcomed the appointment, noting that Dr. Teniola’s leadership comes at a pivotal time for Nigeria’s digital economy.

Dr. Teniola currently serves as the Director of Strategic Business Initiatives at ipNX Nigeria, where he leads market expansion across West and Central Africa.

His recent contributions as a Digital Development Consultant to the World Bank Group for the May 2025 Country Private Sector Diagnostic report further underscore the high-level expertise he brings to the 2026 forum.

Dr. Teniola’s career is defined by high-impact leadership and infrastructure development:

He previously served as COO for Oodua Infraco Resource Limited, overseeing the deployment of 870km of digital infrastructure in Southwest Nigeria.
He is the past President of the Association of Telecommunications Companies of Nigeria (ATCON) and succeeded Dr. Ernest Ndukwe as the National Co-ordinator for the Alliance for Affordable Internet (A4ai).
His background includes executive roles at global giants such as British Telecom, Vodafone, Cisco Inc, and Alcatel-Lucent Technologies.
He has been a vital contributor to the Nigerian Broadband Plan (2012-2013 and 2020-2025) and currently serves on the IPv6 Council.
Teniola holds a B.Eng (Hons) in Computer & Information Engineering from South Bank University, an MBA from the University of Bath School of Management, and an Honorary Doctorate (DBA) from Prowess University.
He is a Fellow of the MSME Institute of Management & Professional Studies and a member of the Chartered Institute of Directors (IoD) Nigeria.

About NDSF 2026

The Nigeria DigitalSENSE Forum on Internet Governance for Development (IG4D) is a premier gathering for stakeholders in the ICT and digital services sectors, focused on fostering innovation, internet governance, and sustainable growth across the continent.

The Nigeria Prize for Science & Innovation Hits New Peak as 2026 Edition Attracts 237 Entries

Business Journal

15/05/2026

The 2026 edition of The Nigeria Prize for Science and Innovation has recorded an historic milestone, attracting a record-breaking 237 entries, the highest number of submissions since the Prize was established n in 2004. The submissions were formally handed over to the Prize’s Advisory Board at a press conference in Lagos on Thursday, marking the start of the adjudication process.

The handover marks the beginning of the search for Nigeria’s most innovative scientific mind, under the theme “Innovations in ICT, Artificial Intelligence (AI), and Digital Technologies for Development.” The theme was a deliberate retention from the 2025 edition, which concluded without a winner after no entry met the required standard for selection.

Speaking at the press conference, Sophia Horsfall, NLNG’s General Manager, External Relations and Sustainable Development, said the continued focus on digital technologies reflects both global trends and Nigeria’s development priorities. She noted that the Prize remains a platform for identifying solutions with real-world relevance.

“In this fourth revolution, digital infrastructure is as foundational to our survival as electricity or water. For Nigeria, our economic sustainability depends on our ability to move beyond promising research and into undeniable innovation that delivers,” she said.

She added that global recognition for Nigerian innovation must be earned through stringent standards. “We believe that if a Nigerian discovery is to command global respect, it must withstand the highest levels of scrutiny. It is this conviction that guided the difficult decision seven months ago”.

While acknowledging the level of interest the theme continues to attract, Horsfall maintained that expectations remain uncompromising, noting that only solutions demonstrating real impact and scalability will be considered. She added that the decision not to award a winner in 2025 reflects this commitment and sets the benchmark for the current adjudication process.

Receiving the entries, Chairman of the Advisory Board, Barth Nnaji, described the handover as a decisive stage in the Prize’s selection process, emphasising that its credibility is anchored on strict standards of excellence. He reaffirmed that the Prize remains focused on identifying innovations that translate scientific insight into tangible socio-economic outcomes.

“Our refusal to award the prize in 2025 was not a dismissal of the hard work of Nigerian innovators; rather, it reinforces that The Nigeria Prize for Science and Innovation holds a gold standard of excellence,” he stated.

He further clarified that the outcome of the 2025 edition, in which no winner was declared, should be viewed within the context of the Prize’s rigorous evaluation framework, which demands novelty, depth, relevance, and demonstrable impact. He emphasisied that all entries will continue to be subjected to the same high level of intellectual and technical scrutiny.

Professor Nnaji added that the Prize seeks solutions that directly address Nigeria’s real-world challenges. “Our broader objective is to identify work that brings tangible impact to the challenges Nigeria faces, whether through digital health technologies that serve rural populations or the use of AI in preserving our cultural heritage and languages.”

Other members of the Board are Chief Dr. Nike Akande, a two-time former Minister of Industry, and Professor Baba Yusuf Abubakar, a Professor of Quantitative Genetics and Animal Breeding.

The Nigeria Prize for Science and Innovation, now in its 22nd year, is valued at $100,000 and remains arguably Africa’s most prestigious science award.

The winning entry for the 2026 edition will be unveiled at a world press conference scheduled for September.

Heirs Insurance Group Named among Africa’s Fastest-Growing Companies in Financial Times Ranking

Business Journal

15/05/2026

Heirs Insurance Group has achieved a landmark double recognition, with member companies, Heirs Life Assurance and Heirs General Insurance, both earning coveted spots on the 2026 Financial Times ranking of Africa’s Fastest-Growing Companies, one of the continent’s most authoritative benchmarks for business performance and expansion.

Of the 130 companies featured across all sectors, Heirs Life Assurance ranked 7th and Heirs General Insurance ranked 41st, placing both companies firmly among Africa’s elite growth stories and cementing the Group’s status as a dominant force in the continent’s insurance landscape.

The dual ranking reflects exceptional growth recorded across the assessment period, a testament to the Group’s deliberate and disciplined approach to expansion. This performance was driven by consistent financial strength, customer-centric innovation, a broadened product portfolio, and operational excellence.

For Heirs Insurance Group, the recognition is a validation of its long-term vision to redefine insurance in Africa.

Commenting on the achievement, Niyi Onifade, Sector Head of Heirs Insurance Group, said: “We are immensely proud that both Heirs Life Assurance and Heirs General Insurance have been recognised among Africa’s fastest-growing companies. This ranking is a validation of our unwavering commitment to delivering exceptional value to our customers and our focus on sustainable, technology-driven growth. As proud pioneers of digital transformation in the Nigerian insurance sector, we continue to reflect the spirit of excellence defined by our parent company, Heirs Holdings. We are committed to building financial resilience, not just in Nigeria, but across the entire African continent.”

This recognition arrives on the heels of another significant milestone, the Group’s recent launch of PrinceAI, a revolutionary multi-language generative AI assistant purpose-built to transform how Africans access and engage with insurance services.

Beyond resolving enquiries, PrinceAI enables real-time customer engagement, dramatically reducing the friction that has historically stood between consumers and insurance coverage. Through Prince AI, Heirs Insurance Group further deepens its commitment to making insurance truly accessible to all.

Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.

Heirs Insurance Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.

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