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NAICOM Pledges Support for Lagos State Building Insurance Scheme

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Keynote Address by Mr. Olusegun Ayo Omosehin, Commissioner for Insurance/Chief Executive, National Insurance Commission (NAICOM) at the Official Launch of the Lagos State Building Insurance Scheme. 

I bring you warm greetings from the National Insurance Commission. It is my singular honour and privilege to stand before you today, and I thank the Government of Lagos State for the kind invitation to deliver this keynote address on this landmark official launch of the Lagos State Building Insurance Scheme, an initiative that represents a major milestone in the evolution of risk management, urban resilience, consumer protection, and insurance growth and development in Nigeria.

As described by the Lagos State Government, the Scheme combines digital innovation, geospatial intelligence, and systematic enforcement to ensure that buildings across Lagos are protected against the devastating consequences of fire, flood, and building collapse.

I want to congratulate His Excellency, Governor Babajide Sanwo-Olu, the Lagos State Government, and all stakeholders whose vision, commitment, and leadership have culminated in this historic achievement.

Today is not a ceremonial occasion. It is a day to launch a scheme that will change the relationship between the people of Lagos and the buildings in which they live, work, trade and worship.

We meet, however, against a sober backdrop. In recent weeks this State and others have again counted the cost of building collapse in human lives. These are not statistics. They are families. Behind every collapse and every fire is a household that loses a home, a trader who loses a livelihood, and too often, a life that cannot be recovered. The question that must trouble any responsible government and any serious regulator is simple: when disaster strikes, who bears the loss?

For too long in this country, the answer has been skewed in sad reflections of the victims. The Lagos State Building Insurance Scheme is designed to change that answer. That is why it matters.

This launch is a demonstration of what can be achieved when government institutions, regulators, technology partners, professional bodies, and the insurance industry work together with a shared purpose. The long-existing partnership between Lagos State Government and the National Insurance Commission is a model of cooperative governance. It reflects a common commitment to protecting citizens, strengthening economic resilience, deepening insurance penetration, and ensuring that insurance fulfils its proper role as a social and economic stabilizer.

It is on record, and has always been the tradition, that Lagos State has once again demonstrated leadership by embracing insurance not merely as a legal requirement, but as a critical public policy tool for safeguarding lives, properties, investments, livelihoods, businesses, communities, and public assets against the devastating consequences of fire outbreaks, floods, and building collapse.

As Nigeria’s commercial capital, Lagos carries enormous strategic significance. The concentration of residential, commercial, industrial, and public infrastructure assets within the State makes risk mitigation an imperative rather than an option. The successful implementation of this Scheme will not only protect Lagosians but also provide a replicable model for other states across the federation.

Insurance is often misunderstood as merely a financial product. In reality, insurance is an instrument of social protection and economic recovery. When a building collapses, insurance helps families recover. When fire destroys commercial premises, insurance enables businesses to restart operations. When floods damage homes and public facilities, insurance provides financial support that reduces suffering and accelerates recovery.

Without insurance, disasters push individuals, businesses, and governments into severe financial distress and trigger economic waste. With insurance, shocks become manageable and recovery becomes possible. This is why compulsory building insurance is not simply a regulatory requirement; it is a public safety intervention.

The Lagos State Building Insurance Scheme therefore advances a broader national objective of ensuring that no Nigerian is left completely vulnerable when disaster strikes.

This Scheme does not stand on goodwill alone. It stands on law.

In 2025, His Excellency, President Bola Ahmed Tinubu, signed into law the Nigerian Insurance Industry Reform Act NIIRA 2025 the most far-reaching insurance legislation this country has seen in more than two decades. That Act repealed and consolidated our fragmented insurance laws into a single, modern framework.

It strengthened the capital base of our underwriters. It sharpened consumer protection. And, of direct relevance to today, it renewed the force of compulsory insurance and gave the Commission clearer authority to see it enforced.

The Act makes plain what the law now requires. Public buildings and buildings under construction above a prescribed height must carry insurance cover that protects not only the owner, but the occupier, the visitor and the passer by. The purpose of the law is not to burden the citizen. It is to ensure that where negligence, fire, flood or collapse causes loss, there is a fund from which that citizen can be made whole.

What Lagos State has done is to take this national law and give it practical, enforceable life at the level where buildings actually stand. That is precisely the partnership the Act envisaged between the federal regulator and the state governments.

Nigeria does not suffer from a shortage of laws. Our challenge, honestly stated, has always been enforcement. We have carried compulsory insurance provisions on our books for years while compliance remained weak, awareness remained low, and forged certificates circulated freely.

What distinguishes the Lagos initiative is that it confronts the enforcement gap directly. By marrying geospatial building intelligence to a digital delivery platform and to systematic enforcement at State scale, Lagos is not merely restating an obligation. It is building machinery to make the obligation real.

This is also fully aligned with the direction of NIIRA 2025, which deliberately promotes digital distribution, electronic policies and data driven supervision. Lagos has read the reform correctly and has moved first.

Let me speak plainly to the citizen, because ultimately this Scheme is for the citizen, not for the industry.

If your building is covered and a fire sweeps through it, you will not begin again from nothing. If a structure collapses and an innocent person is injured, there will be a means of compensation rather than a funeral and a fight. If flood damages the premises in which you earn your living, recovery becomes a claim to be paid rather than a ruin to be endured. Insurance, properly enforced, converts catastrophe into something a family and a community can survive. That is the whole of the matter.

For our industry, this is a moment of both opportunity and obligation.

The opportunity is historic. Bringing the buildings of Lagos into cover introduces a vast new class of insured risk, deepens penetration in a market that has long underperformed its potential, and expands the base on which underwriters can build. It advances the national ambition of drawing tens of millions of uninsured Nigerians into the formal financial safety net, and it supports the Federal Government’s vision of a one trillion-dollar economy in which insurance plays its proper role as a mobiliser of long-term capital.

But let me be equally clear about the obligation, and let this be heard by every underwriter in this room. The confidence we build today will be won or lost at the point of claim. A scheme that collects premiums promptly but pays claims slowly will fail and it will deserve to fail. The Commission will hold operators to the standards the law demands: fair terms, honest pricing, and prompt, full settlement of legitimate claims. Public confidence in insurance is not a slogan. It is earned one honoured claim at a time.

The foundation upon which this initiative stands is the ongoing transformation of the Nigerian insurance sector. The Lagos State Government itself has acknowledged the role of the Nigerian Insurance Industry Reform Act 2025 in enabling initiatives such as this.

At NAICOM, our reform agenda is focused on one central objective, building a stronger, more inclusive, more trusted, and more resilient insurance industry.

The Lagos State Building Insurance Scheme presents a valuable opportunity to showcase insurance as a practical solution to real-world challenges.

I wish to use this occasion to call upon all stakeholders to support this initiative.

To property owners: view insurance as an investment in resilience rather than a regulatory obligation.

To developers and construction professionals: integrate insurance considerations into project planning and risk management frameworks.

To insurance companies: provide excellent service, fair pricing, and prompt claims settlement.

To brokers and agents: continue educating the public and facilitating informed decisions.

To government agencies: maintain collaboration and enforcement consistency.

Together, we can create a culture where protection becomes standard practice rather than an afterthought.

 

The Commission’s Commitment

On behalf of the National Insurance Commission, I make three commitments today.

First, we will provide the regulatory backing that this Scheme requires, ensuring that every policy issued under it is underwritten by companies licensed and supervised by the Commission, and by no one else.

Second, we will support Lagos State in the fight against fake certificates and unlicensed operators, because a compulsory scheme is only as strong as the integrity of the cover behind it.

Third, and let me state this very clearly, the Commission will support and insist upon a scheme architecture that is open, transparent, competitive, and accessible to all insurance operators duly licensed by the National Insurance Commission, Nigeria.

No compulsory insurance framework of this significance should be structured in a manner that excludes qualified licensed operators, creates undue monopoly, restricts fair market participation, or denies the insuring public the benefit of choice, capacity, innovation, and service competition.

The role of the regulator is to protect the policyholder, preserve market integrity, and ensure that every eligible operator who meets the Commission’s licensing, solvency, conduct, and claims-payment standards is given a fair opportunity to participate.

Fourth, we will treat this Scheme as a national reference point. If it succeeds here, and it must, it becomes the template by which other States across the Federation can protect their own citizens. Lagos, as so often, is lighting the path.

 

Conclusion

Let me close where I began. This is about people. It is about the market trader in Alakija, the family in Lekki, the worshipper, the tenant, the child asleep in a building that its owner did not think to insure. The measure of this Scheme will not be the size of the ceremony we hold today.

It will be the number of Lagosians who, on the worst day of their lives, discover that they are not alone and that there is cover, and there is recovery.

I commend the vision and the courage of His Excellency, Governor Babajide Sanwo-Olu, and the diligence of the Office of the Special Adviser on e-GIS and Urban Development in bringing us to this day. The Commission stands firmly with the Government and people of Lagos State in this historic step for the safety of our people.

It is now my honour to lend the voice of the nation’s insurance regulator to this occasion, and to affirm, without reservation, the Commission’s full support for the Lagos State Building Insurance Scheme.

Thank you for your attention.

 

Olusegun Ayo Omosehin

Commissioner for Insurance/CEO

Nigeria’s $2bn Renewable Energy Investment Yields Only 76,000 Jobs, REA Flags Local Capacity Gap

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Dr. Abba Aliyu, Managing Director of the Rural Electrification Agency (REA), has disclosed that Nigeria’s renewable energy workforce participation remains significantly low, with the sector generating only about 70,000 jobs despite attracting over $2 billion in cumulative investment, compared to the 16.2 million jobs supported by the global solar industry.

The gap, according to the REA MD, underscores the urgent need for a deliberate shift toward local capacity development, warning that Nigeria cannot build a sustainable energy transition on permanent import dependence.

The REA MD made this known in his keynote address at the 2026 Oriental News Conference held in Lagos, on Thursday.

Aliyu who was represented by Gboyega Ayoade, Executive Director, Corporate Services, stressed that energy policy must double as industrial policy—driven by local participation rather than expatriate dominance.

He said: “As renewable energy deployment grows, we must also grow local capacity for assembly, manufacturing, installation, operation, maintenance, recycling and skills development.

“This is where the Nigeria First policy becomes important. Clean energy must become a platform for local content, job creation and industrial value capture.

“Every major renewable energy programme should ask a simple question: beyond supplying electricity, what domestic capacity does this project build?

“Does it create jobs for Nigerian engineers and technicians? Does it use local installers? Does it create demand for local assembly? Does it support Nigerian firms? Does it strengthen the supply chain? Does it improve skills and technology transfer?

“This is how clean energy becomes an industrial policy tool,” he stated.

He further noted that REA’s programmes are being repositioned to align with this approach, leveraging clean energy as a strategic industrial policy tool.

“REA’s programmes are increasingly being positioned within this logic. Large-scale deployment creates predictable demand. Predictable demand gives confidence to manufacturers. Manufacturing creates jobs. Jobs expand incomes. And stronger local supply chains reduce costs over time.”

Aliyu revealed that key segments, including public sector solarisation, mini-grids, agricultural energy hubs, and institutional electrification, can serve as anchor markets for domestic renewable manufacturing rather than merely energy access projects.

The REA boss further emphasised that despite strong potential, many solar projects fail to advance due to weak bankability structures rather than technical limitations.

He explained that capital will only flow where projects are well-prepared, risks clearly allocated, revenue streams credible, and institutions trusted.

For him, the core constraint is not potential—but bankability.

“Projects often require stronger feasibility studies, clearer demand assessment, improved payment structures, robust technical preparation, environmental and social safeguards, deeper community engagement, and effective risk mitigation instruments.

“To address this, REA is working with development partners, financial institutions, and private developers to strengthen project preparation and financing frameworks.

“Through performance-based grants, minimum subsidy frameworks, blended finance, demand aggregation, public-private partnerships, and green finance platforms, the agency aims to improve investability across the sector,” he said.

Aliyu disclosed that Nigeria’s decarbonisation strategy must extend beyond emissions targets to a broader economic framework linking energy, finance, industry, and investment.

Speaking on Driving Nigeria’s Decarbonisation through Strategic Promotion of Clean Energy — The REA Experience, he said:

“For Nigeria, decarbonisation cannot be reduced to a narrow conversation about emissions alone.

“It must be a conversation about competitiveness, industrial renewal, energy security, climate resilience, financing, technology, and inclusive growth.

“It must recognise the structure of our economy, the role of oil and gas, the urgency of expanding electricity access, and the need to position clean energy as a catalyst for national development,” he said.

He stressed that achieving this requires coordinated, system-wide reforms.

“Decarbonisation cannot be achieved through isolated rules. It requires an integrated regulatory architecture that connects energy, finance, environment, industry and investment.”

He added: “Regulation must therefore enable innovation while protecting consumers and ensuring market discipline. This is where broad regulatory reform becomes essential.”

“For the extractive industry, regulations around emissions management, carbon capture, gas flaring reduction, clean energy adoption, environmental reporting and sustainable finance must be clear and coordinated.

For the power sector, regulations around mini-grids, embedded generation, net metering, wheeling, storage and distributed energy resources must continue to evolve.”

Aliyu cautioned that Nigeria’s decarbonisation pathway must reflect its development realities.

“We are a developing country with a growing population, expanding energy demand and significant infrastructure deficits.

“Millions of Nigerians still require access to reliable electricity. Businesses still face high energy costs. Public institutions still depend heavily on diesel. Industrial clusters still struggle with unreliable supply. Rural communities still need power for productive use.

“Therefore, the challenge before us is not simply to reduce emissions.

“The real challenge is to expand energy access, grow the economy, industrialise, and reduce emissions at the same time,” he said.

The REA MD said decentralised renewable energy solutions remain critical to achieving this balance.

“For many years, the energy transition was sometimes presented as a trade-off between development and climate responsibility.

“But the evidence from Nigeria’s renewable energy access experience shows the opposite.

“Clean energy can reduce emissions while improving livelihoods. It can lower the cost of production while improving reliability.

“It can serve communities that the conventional grid may not reach quickly. It can power hospitals, schools, markets and farms.

“It can also create new industries around solar, storage, metering, digital monitoring, installation, maintenance and local manufacturing.

“In this sense, clean energy is not only an environmental solution. It is an economic development strategy,” he stated.

Aliyu revealed that thee REA’s interventions are helping transition Nigeria from fragmented electrification efforts to a more structured renewable energy market.

“Key programmes include the Nigeria Electrification Project, the Distributed Access through Renewable Energy Scale-up programme, the Energizing Education Programme, the National Public Sector Solarisation Initiative, and various mini-grid and agricultural energy projects.

According to him, those initiatives demonstrate that renewable energy can be deployed at scale through practical, private-sector-driven models.

The REA MD emphasised that decarbonisation cannot be achieved through isolated rules, adding that it requires an integrated regulatory architecture that connects energy, finance, environment, industry and investment.

“Government must provide clear policy direction, while the regulators must create confidence, the private sector must invest, financial institutions must innovate and development partners must de-risk priority markets,” Aliyu noted.

He also disclosed that the extractive industry must reduce emissions and support cleaner development models, while the media must continue to create informed platforms for accountability and public understanding.

The REA MD therefore commended Oriental News Nigeria for convening the conference, noting that the media plays a critical role not only in reporting events but in shaping informed national dialogue.

 

 

 

Ecobank Nigeria Launches Scaling Up Podcast to Champion African Entrepreneurship, Business Growth

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Ecobank Nigeria has launched Scaling Up!!!, its flagship business storytelling podcast designed to inspire, educate and empower entrepreneurs, founders, business leaders and the next generation of African innovators through authentic conversations with some of the continent’s most accomplished business personalities.

The podcast, which will be available on Ecobank Nigeria’s official YouTube channel and other major digital streaming platforms, reinforces the Bank’s commitment to supporting businesses beyond banking by creating a platform where entrepreneurs can learn from the experiences of successful founders, creatives and industry leaders who have built thriving enterprises across diverse sectors.

Featuring compelling conversations on entrepreneurship, leadership, innovation, resilience and business growth, Scaling Up!!! offers practical lessons and real-life insights that aspiring and established entrepreneurs can apply in building sustainable businesses.

The inaugural season features an impressive lineup of distinguished guests, including beauty entrepreneur and Founder/CEO of Beauty by AD, Adeola Adeyemi (Diiadem); renowned filmmaker and Founder of Golden Effects Pictures, Kunle Afolayan; veteran music producer and Founder of Coded Tunes, ID Cabasa; luxury fashion entrepreneur Ejiro Amos Tafiri; celebrated commercial photographer Emmanuel Oyeleke; Co-founder and Lead Interior Designer of Siriano Limited, Adewunmi Adegbola; and Founder of Windsor Gallery and Nahous Creative Hub, Richard Vedelago.

Each episode explores the guests’ entrepreneurial journeys, highlighting the opportunities they embraced, the challenges they overcame and the strategies that enabled them to build enduring brands and successful businesses.

Speaking on the launch, Head, Marketing & Corporate Communications, Ecobank Nigeria, Austen Osokpor, said: “Scaling Up!!! reflects Ecobank’s belief that empowering entrepreneurs goes beyond providing financial solutions. Through authentic storytelling and insightful conversations, we are creating a platform where business owners can learn directly from people who have successfully navigated the realities of building sustainable enterprises. It is another way we are reinforcing our commitment to driving entrepreneurship, innovation and economic growth across Africa.”

Also speaking, Head, SMEs, Partnerships & Collaborations, Ecobank Nigeria, Omoboye Odu, said: “Entrepreneurs learn best from the experiences of those who have walked the journey before them. Scaling Up!!! provides practical insights, inspiration and valuable lessons that will help founders make better business decisions, overcome challenges and unlock new opportunities for growth. The podcast further strengthens Ecobank’s role as a trusted partner supporting SMEs at every stage of their entrepreneurial journey.”

Sharing the creative vision behind the initiative, the Producer of Scaling Up !!!, Jemimah Ugiagbe said: “Our goal was to create more than just another business podcast. We wanted honest, engaging and relatable conversations that reveal the realities behind success, the setbacks, the resilience, the bold decisions, and the lessons that every entrepreneur can learn from. Every episode is designed to leave listeners informed, inspired and motivated to build businesses that create lasting impact.”

The podcast further strengthens Ecobank Nigeria’s position as a trusted partner for entrepreneurs by providing a knowledge-sharing platform that extends beyond traditional banking services. Through meaningful conversations with accomplished founders and innovators, the Bank continues to demonstrate its commitment to fostering enterprise development, encouraging innovation and promoting sustainable economic growth across Africa.

Scaling Up!!! is targeted at SMEs, entrepreneurs, founders, startups, business executives, creatives, students and young professionals seeking practical business insights from some of Africa’s most respected industry leaders.

New episodes will be released regularly across Ecobank Nigeria’s YouTube channel and other major podcast streaming platforms, offering audiences thought-provoking conversations on entrepreneurship, leadership, innovation and business growth.

 

About Ecobank Nigeria
Ecobank Nigeria is a member of the Ecobank Group, the leading pan-African banking institution with operations in 33 African countries and international offices in London, Paris, Beijing, and Dubai.

With over 220 branches, more than 36,000 agency banking locations, and robust digital platforms, Ecobank delivers accessible, affordable, and instant banking services.

The Bank is strategically positioned to support pan-African trade, particularly under the African Continental Free Trade Area (AfCFTA).

 

DataPro Unveils Date, Registration for 6th International Rating Webinar

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The anticipation is already building for the 6th Edition of the International Rating Webinar.

A statement by DataPro over the weekend says they wanted to send a quick reminder to stakeholders to mark their calendars for this pivotal event.

According to the firm, this year’s strategic deliberations will be centered on “Sovereign Credit Rating: Africa’s Roadmap to Investment-Grade Status.”

While Nigeria’s recent sovereign credit rating upgrade from B- to B is widely regarded as a positive signal to global investors and a reflection of growing confidence in ongoing economic reforms.

However, for African nations, the journey toward full investment-grade status requires deliberate adherence to qualitative and quantitative economic disciplines capable of strengthening investor confidence and enhancing sovereign credibility in the international financial market.

“We are bringing together policymakers, development institutions, financial market operators, and corporate stakeholders to unpack these critical next steps.”

Event Details:

Date: 8th October 2026

Time: 14:00 – 16:00 WAT

Keynote: “Achieving Investment-Grade Rating by 2030: The Roadmap for Nigeria.”

“If you have not already done so, please save the date in your calendar and stay tuned for the unveiling of our speaker lineup very soon.

This year’s program is expected to provide the needed road map to build on by all stakeholders. We are delighted to have you on board for this essential conversation regarding the future of our economic landscape.”

 

 

DataPro: Capital Follows Confidence: The Rating Intersection

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Economic development is often discussed in terms of infrastructure, industrialisation, innovation, and public policy. Yet behind each of these lies a common requirement: capital. Businesses need financing to expand production, governments require funding to build infrastructure, and entrepreneurs depend on investment to transform ideas into enterprises.

The availability of capital, however, is only part of the equation. More important is investors’ and lenders’ willingness to commit to it. In financial markets, capital does not simply follow opportunity; it follows confidence.

This is where credit ratings intersect with economic development.

While credit ratings are commonly viewed as opinions on the creditworthiness of issuers, their broader significance lies in the confidence they bring to financial markets. By providing an independent assessment of credit risk, they help bridge the information gap between those seeking capital and those willing to provide it. In doing so, they support one of the most fundamental drivers of economic development—the efficient allocation of financial resources.

Confidence as an Economic Asset

Investment is inherently forward-looking. Every lending or investment decision reflects an expectation about the future: Will the borrower meet its obligations? Will the project generate sufficient returns? Will the risks remain manageable over time?

Without credible information, these questions become difficult to answer. Uncertainty increases, and investors demand higher returns to compensate for perceived risk or avoid committing capital altogether.

Credit ratings reduce this uncertainty by offering an informed and independent assessment of credit risk. Although they do not eliminate risk, they provide a common reference point that enables market participants to make better-informed decisions. In this sense, credit ratings contribute not only to market transparency but also to the confidence that underpins investment.

From Confidence to Capital Formation

When investors have greater confidence in the quality of available information, capital can be allocated more efficiently.

For businesses, this may translate into broader access to funding and, in many cases, more favourable borrowing terms. For investors, it facilitates the comparison of credit risk across different issuers, sectors, and instruments. For financial markets, it improves liquidity and supports the development of a more diverse investor base.

These outcomes extend beyond individual transactions. As businesses secure financing to expand operations, invest in productive assets, and create employment, the effects are transmitted through the wider economy. In this way, credit ratings contribute indirectly to economic growth by supporting the movement of capital towards productive activities.

The Broader Development Impact

The influence of credit ratings extends beyond individual issuers.

Governments seeking to finance infrastructure, financial institutions raising capital, and corporations funding expansion all operate within a financial ecosystem where investor confidence matters.

Reliable credit assessments help strengthen that ecosystem by supporting more efficient capital allocation and reducing informational barriers between borrowers and investors.

Their contribution, therefore, extends beyond credit analysis itself. By facilitating investment and enhancing the efficiency of financial markets, credit ratings help create an environment where capital can be mobilised and directed towards productive economic activities.

Ultimately, economic development depends not only on the availability of capital but also on the confidence that enables it to flow. By strengthening transparency, reducing information asymmetry and supporting informed investment decisions, credit ratings help create the conditions under which capital is deployed more efficiently, reinforcing their role as an important enabler of sustainable economic development.

11 Poets Chase $100,000 Prize as The Nigeria Prize for Literature Unveils 2026 Poetry Longlist

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Eleven outstanding poetry collections have emerged on the longlist of The Nigeria Prize for Literature, selected from 223 received for the competition.

The announcement by the Chairman of the Advisory Board for the Prize, Prof. Akachi Adimora-Ezeigbo marks a significant milestone in this year’s competition and reflects the exceptional quality, creativity and diversity of contemporary poetry.

The longlisted titles, arranged alphabetically are:

  • Adult Love by Tanure Ojaide
  • Bakandimiya by Saddiq Dzukogi
  • Black Passport by Paul Akpomuje
  • 2000 Blacks by Ajibola Tolase
  • Ceremony for The Nameless by Theresa Lola
  • Corpus: Animistic Verses by Ayo Oyeku
  • Floral’s Love Colony by Tares Oburumu
  • The Origin of Wounds by Malik Gbolahan
  • The Years of Blood by Adebayo Agarau
  • Unbind Me Now by James Ugwu Eze 
  • Why Does God Need a Gun by Ogaga Ifowodo

Professor Adimora-Ezeigbo described the announcement as an important stage in the 2026 edition of the arguably African biggest and most prestigious literary Prize.

She noted that the collections demonstrate the remarkable capacity of poetry to illuminate human experience through thoughtful reflection, cultural memory and artistic expression.

Prof. Adimora-Ezeigbo added that the works revisit history while interrogating dominant historical narratives and exposing the forces that shape collective identities and social relations.

She stated that despite their varied emphases, the books share a commitment to exploring the endurance of individuals and communities in the face of violence, oppression, and social fragmentation.

Commenting on style and language, Prof. Adimora-Ezeigbo said the books display an impressive diversity of poetic techniques marked by lyrical intensity, symbolic depth, and artistic innovation.

“Many employ densely poetic, allegorical, and elegiac modes that invite multiple layers of interpretation, while others draw extensively on folklore, oral traditions, and contemporary realities to create a compelling fusion of past and present. Their language is generally fluid, evocative, and aesthetically refined, relying on vivid imagery, emotional resonance, and intellectual sophistication to communicate complex ideas. These works demonstrate how poetic language can illuminate social realities; challenge established perspectives and give voice to both individual and collective experiences.

“The next stage will demand a closer reading of each work, with attention to language, form, originality and lasting literary value,” she stated.

She also commended the judges for their work and reaffirmed the Advisory Board’s commitment to a credible process, literary excellence, and the promotion of a strong reading culture.

The announcement of the 11-title longlist formally opens the next phase of the shortlist of three in August and possible announcement of the winner in October.

The Nigeria Prize for Literature, sponsored by NLNG, carries a cash award of $100,000 for the author of the winning book. In its 22nd year, the prize rotates annually across four genres – prose fiction, poetry, drama and children’s literature – with the 2026 edition devoted to poetry.

CBN Gov, Yemi Cardoso, to Speak at Business Journal Fintech & Financial Inclusion Roundtable 2026

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Mr. Olayemi Cardoso, Governor, Central Bank of Nigeria (CBN) will speak as Special Guest of Honour at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 scheduled for Friday, July 31, 2026 at Oriental Hotel, Lekki Road, Victoria Island, Lagos.

The CBN confirmed the participation of Yemi Cardoso at the Roundtable over the weekend.

The theme of the Roundtable is: Fintech: Driving the Future of Digital Financial Ecosystem in Nigeria.

Other Special Guests of Honour include Dr. Aminu Maida, Executive Vice-Chairman/CEO, Nigerian Communications Commission (NCC) and Mr. Olusegun Omosehin, Commissioner for Insurance/CEO, National Insurance Commission (NAICOM) while Dr. Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX) will Chair the event.

The Keynote Speakers include Mr. Emmanuel Ovaga, CEO, PufferPay Limited and Dr. Chinyere Almona, Director-General/CEO, Lagos Chamber of Commerce & Industry (LCCI).

The Guests of Honour are Mr. Jide Orimolade, President/Chairman of Council, Chartered Insurance Institute of Nigeria (CIIN) and Mrs. Ekeoma Ezeibe, President/Chairman of Council, NCRIB.

Distinguished members of the Panel include:

  • Dr. Muda Yusuf, CEO, Centre for the Promotion of Private Enterprise (CPPE)
  • Mrs. Idu Okeahialam, Group Managing Director/CEO, Royal Exchange Plc
  • Dr. Obioha Oti, President, Association of Mobile Money and Bank Agents in Nigeria (AMMBAN)
  • Mr. Sarafadeen Fasasi, President, Association of Financial Inclusion Agents of Nigeria (AFIAN)
  • Chidubem Emelumadu, Ecosystem Lead (Africa), Lisk
  • Sola Longe-Okenimkpe, Chief Operating Officer of Vuvu Africa

The revolutionary success story of Moniepoint, Opay, PalmPay, Flutterwave and others in the digital payment system in Nigeria represents a positive expansion of the financial services sector in the country.

With millions of Nigerians and businesses lacking access to basic financial services, the importance of Fintechs remain sacrosanct in achieving substantial level of Financial Inclusion and expanding the frontiers of the industry.

According to AI Overview, Fintechs in Nigeria have revolutionised the financial landscape by dramatically increasing access to banking services, driving, for example, a 20% increase in financial inclusion and helping to bring the banked population to roughly 63%. These firms have introduced faster, affordable digital payments, lending, and investment services, forcing traditional banks to adopt digital transformation.

The 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 aims to underscore the positive contribution of Fintechs in deepening Financial Inclusion, expanding access to financial services and contributing to economic growth in the country.

Expected participants at the Roundtable include regulators, operators from key sectors of the economy, media and members of the general public.

 

 

 

Leadway Assurance Champions Insurance Adoption in Nigeria’s Creative Sector

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Leadway Assurance, Nigeria’s leading insurance services provider and a subsidiary of Leadway Group, a foremost non-banking financial services and wellbeing conglomerate, has partnered with Insurtainment, a platform dedicated to advancing insurance adoption across the entertainment and creative sectors, to accelerate insurance penetration within Nigeria’s creative economy.

The partnership officially commenced with Leadway’s participation in the Insurtainment Policy & Industry Forum 2026, a high-level roundtable held on Tuesday, 14 July 2026. The forum provided a platform for stakeholders to explore practical insurance solutions tailored to the unique needs of the entertainment industry.

The engagement brought together representatives from the film, music, television, gig economy, and broader entertainment sectors, alongside insurers, policymakers, regulators, and other key stakeholders, to drive conversations about strengthening risk protection, fostering innovation, and supporting the sector’s long-term sustainability.

Beyond the inaugural forum, the collaboration establishes a platform for sustained engagement between Leadway and Insurtainment to deepen insurance awareness, encourage product innovation, and support the adoption of insurance solutions that enhance resilience across Nigeria’s fast growing creative economy.

Commenting on the partnership, Gboyega Lesi, the Managing Director of Leadway Assurance, described it as a strategic investment in one of Nigeria’s most vibrant economic sectors.

He said: “With Nigeria’s entertainment and media sector expected to generate nearly US$4.9 billion in revenue in 2026, the country’s creative industry has become a powerful driver of economic growth, employment, investment, and global cultural influence. As the industry continues to evolve, insurance must be positioned as a strategic enabler of growth and innovation by protecting the people, productions, and businesses that matter.”

“Our partnership with Insurtainment reflects Leadway’s belief that meaningful progress happens when industries collaborate to solve shared challenges. By bringing together insurers, policymakers and creative professionals, we can develop practical solutions that respond to the realities of the entertainment industry, giving creators, investors and businesses the confidence to pursue bigger opportunities while safeguarding the value they create.”

Delivering the keynote address at the forum, Olawale Alao, Head of Commercial (B2B), Leadway Assurance, highlighted the critical role of insurance in unlocking the full potential of Nigeria’s entertainment industry.

“Nigeria’s creative economy is one of our strongest levers for diversification, job creation, and global competitiveness, but ambition alone doesn’t build an industry. For too long, insurance has been treated as a formality, a box ticked or a claim filed after the damage is done. At Leadway, we take a different view. Insurance is what gives the creative economy the confidence to scale, and where value is protected, capital follows.

” Leadway’s partnership with Insurtainment reinforces the company’s strategic efforts to drive insurance inclusion across critical sectors by developing innovative, fit-for-purpose solutions that protect individuals, talent, and businesses, empower entrepreneurs, and contribute to Nigeria’s long-term economic development.

 

About Leadway Assurance

Leadway Assurance is one of Nigeria’s foremost non-banking financial services groups, offering diversified solutions across insurance, pensions, health, and asset management.

Founded in 1970, the company has built a legacy of trust and innovation, serving millions of individuals and businesses across Nigeria and West Africa.

 

Dangote Refinery Completes Landmark $2.5bn Private Equity Placement

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Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has successfully completed a landmark Private Equity Placement that raised approximately US$2.5 billion in new equity, following a highly successful offering.

The transaction, which is believed to be Africa’s largest publicly disclosed primary equity private placement, marks a significant milestone in the history of the company and demonstrates strong investor confidence in the refinery’s long-term growth strategy and operational excellence.

The capital raise is the first equity funding round involving external investors beyond the company’s legacy shareholder base, underscoring the growing attractiveness of DPRP as a world-class energy and industrial enterprise.

The proceeds from the placement will be deployed to support the continued expansion of the refinery and petrochemical complex, strengthen the company’s capital structure, and enhance financial flexibility to pursue future growth opportunities.

The offering attracted broad participation from international and African institutional investors, sovereign-related investment vehicles, development finance institutions, strategic partners, and individual investors.

Notable participants included the Africa Finance Corporation (AFC) and India Infra Buildco, an investment vehicle facilitated by the African Export-Import Bank (Afreximbank), reflecting deep and diversified confidence in DPRP’s long-term prospects.

Commenting on the successful transaction, Aliko Dangote, President and Chief Executive of Dangote Industries Limited and Chairman of DPRP, described the placement as a strategic milestone in the company’s evolution.

“This transaction represents a strategic step to deepen and further institutionalise the Enterprise’s shareholder base, while raising capital to complement our internal cash flows and external funding as DPRP advances its expansion agenda.

It also demonstrates our unwavering commitment to developing Africa’s refining and petrochemical capacity, reducing dependence on imported petroleum products and strengthening the continent’s energy security.”

Also speaking on the development, David Bird, Managing Director and Chief Executive Officer of Dangote Petroleum Refinery & Petrochemicals, said the overwhelming investor response validates the company’s operational performance and growth outlook.

“The exceptional demand we witnessed is a testament to our operational excellence, execution capability and the confidence investors have in DPRP’s leadership and future potential.”

With the successful completion of the placement, DPRP is well-positioned to accelerate its long-term growth strategy while strengthening Africa’s energy security through world-scale refining and petrochemical capacity. The strong investor response further reinforces confidence in the company’s vision and its ability to deliver sustainable value over the long term.

The company also acknowledged the contributions of its professional advisers and partners whose expertise and support were instrumental in delivering the successful transaction.

 

NGX Chair: Africa Has a Unique Opportunity to Participate, Shape Global Financial System

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The talking points by Dr. Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX) at the Royal African Society’s 125th Anniversary Flagship Business Event in London, UK.

Talking Points

As we reflect on the next 125 years of global capital markets, I believe Africa has a unique opportunity, not simply to participate in the global financial system, but to help shape its future.

For too long, conversations about Africa have focused on what the continent lacks. I think the conversation should now shift to what Africa possesses: a young population, abundant natural resources, growing entrepreneurial talent, and increasingly sophisticated financial institutions.

The real question is this: how do we convert that potential into sustainable economic prosperity?

My answer is straightforward, through strong, trusted and innovative capital markets.

Capital markets do much more than facilitate trading. They connect savings with productive investment. They provide businesses with long-term capital to grow. They create opportunities for wealth creation, improve transparency and governance, and ultimately contribute to national development.

In Nigeria, we have seen this firsthand. Our market has played an important role in mobilising capital for businesses and supporting major economic reforms. We are also investing in technology to make our markets more accessible, efficient and inclusive, ensuring that more people can participate in wealth creation.

But no African market can achieve its full potential in isolation.

The future lies in greater collaboration across our exchanges. We should be working towards deeper market integration, easier cross-border investment, greater regulatory cooperation and shared market infrastructure. When African markets become more connected, they become more attractive to both domestic and international investors.

We must also recognise that the next generation of investors expects something different. They want markets that are digital, transparent and sustainable. Technology, artificial intelligence and better data will define the competitiveness of exchanges over the coming decades.

Perhaps most importantly, Africa must increasingly finance its own growth.

Our pension funds, insurance assets and institutional investors represent enormous pools of long-term capital. We should create the right environment for more of that capital to be invested in African businesses and infrastructure. External investment will always be welcome, but domestic capital provides resilience and long-term stability.

If I were to leave one thought with this audience, it would be this:

Africa’s greatest resource is not beneath the ground; it is the ingenuity of its people. Our responsibility is to build capital markets that unlock that ingenuity, finance innovation and create opportunities for generations to come.

If we get that right, I believe the next 125 years will see Africa move from being viewed as a frontier of opportunity to becoming a recognised centre of global investment and economic leadership.

 

 

Linkage Assurance Plc Raises N16.2bn from Rights Issue Towards Recapitalisation

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Linkage Assurance Plc announces the successful completion of its N16.2 billion Rights Issue, which opened on March 11, 2026 and closed on April 23, 2026.

Following the approval of the Securities and Exchange Commission (SEC) all the shares have been allotted to the subscribers of the issue and the shares have been listed on the Nigerian Exchange Limited (NGX.)

The rights issue was undertaken in response to the NAICOM’s directive on the recapitalisation of insurance companies in Nigeria.

The conclusion of the capital-raising which was fully subscribed reflects the continued confidence of stakeholders in the company’s Board and Management, governance, financial performance and strategic direction.

The company remains committed to full regulatory compliance and prudent risk management. With its strengthened capital base, the company is well positioned to provide more robust service to its teeming customers and deliver sustainable value to stakeholders.

The proceeds from the issue will be used to meet the minimum capital requirement, in compliance with the new regulatory capital requirements, and to implement business expansion in line with the long-term strategic focus of the company.

 

Joke Silva, Audu Maikori, Steve Babaeko to Speak at QEDNG Creative Powerhouse Summit 2.0

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Veteran actress, Joke Silva, creative economy strategist, Audu Maikori and advertising executive, Steve Babaeko are among eight accomplished professionals confirmed as panellists for the second edition of the QEDNG Creative Powerhouse Summit.

Also billed to speak at the summit are technology and finance content creator, Fisayo Fosudo, talent manager and music executive, Efe Omorogbe, media and intellectual property, lawyer Omotayo Inakoju, theatre practitioner and culture administrator, Yibo Koko, and publisher, Anwuli Ojogwu.

The announcement was made by Mighty Media Plus Network Limited, publishers of the online newspaper QEDNG.

QEDNG Creative Powerhouse Summit 2.0 is themed Creativity, Culture and Nigeria’s Next Chapter. It will examine how stronger partnerships among government, investors and the creative community can unlock opportunities for growth, job creation and sustainable development.

The summit, scheduled for Tuesday, August 11, 2026, at Radisson Blu Hotel, Ikeja GRA, Lagos, will bring together leaders from the creative industries, business, government and technology for conversations on the future of Nigeria’s creative economy. Discussions will explore the role of culture, innovation, investment and public policy in shaping the sector’s next phase of growth.

Joke Silva, a Member of the Order of the Federal Republic (MFR), has spent more than four decades building a distinguished career on stage, television and film. Beyond acting, she is co-founder of the Lufodo Group, president of Women in Film and TV Nigeria and chair of the board of trustees of the Centre for Contemporary Arts, Lagos.

Joining her is Audu Maikori, co-founder and chairman of Chocolate City Group. A lawyer, entrepreneur and creative economy strategist, he has helped shape Africa’s music and entertainment industry while contributing to policy, intellectual property and creative infrastructure initiatives in Nigeria and other parts of the continent.

Steve Babaeko, founder and chief executive officer of X3M Ideas, is one of Africa’s leading advertising and branding professionals. Through his agency, he has led award-winning campaigns for major brands while mentoring young creatives and promoting African creativity on the global stage.

Efe Omorogbe has worked across music, media, film and live entertainment for more than two decades. As founder of Now Muzik and Buckwyld Media Network, he has managed leading artistes, produced major entertainment events and contributed to the growth of Nigeria’s music industry. He is also a faculty member of the Music Business Academy for Africa.

Omotayo Inakoju is head of legal at EbonyLife Group, where she leads legal strategy for film, television and streaming projects. A media and intellectual property lawyer, she has advised international studios, production companies and content creators on content licensing, rights management and digital distribution.

Yibo Koko is director general and chief executive officer of the Rivers State Tourism Development Agency. A theatre practitioner, filmmaker and cultural administrator, he has led major cultural and tourism initiatives while building a career across stage, screen and the creative industries.

Anwuli Ojogwu is co-founder of Narrative Landscape Press, one of Nigeria’s leading independent publishing houses. She has spent two decades working across publishing, media and development while championing African writing and editorial excellence. She is also co-founder of the Society for Book and Magazine Editors of Nigeria.

Fisayo Fosudo is one of Nigeria’s leading technology and finance content creators. Through his videos on technology, personal finance and the Nigerian economy, he has built an audience of more than 1.5 million followers across digital platforms. His work has earned recognition for making complex subjects easier to understand.

Commenting on the panel, QEDNG publisher and convener of the summit, Olumide Iyanda, said the speakers were chosen because they represent key pillars of Nigeria’s creative ecosystem.

Former NBA President, Olisa Agbakoba, to Chair GOCOP 2026 Confab in Lagos Oct 8

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Former President of the Nigerian Bar Association (NBA), Dr. Olisa Agbakoba, SAN, has accepted to chair the 10th Annual Conference of the Guild of Corporate Online Publishers (GOCOP), scheduled for Thursday, October 8, 2026 in Lagos.

Chairman of the 2026 Conference Planning Committee, Olumide Iyanda, announced this in a statement by the Guild’s Publicity Secretary, Kemi Yesufu.

According to Iyanda, this year’s conference, themed “2027 Elections: Trust, Transparency and Shared Responsibilities,” comes at a defining moment for Nigeria as political activities begin to gather momentum ahead of the next general elections.

He said the theme reflects the importance of credible institutions, responsible political leadership, an informed electorate and a vigilant media in strengthening public confidence in the democratic process.

“The conference will provide a platform for thoughtful engagement on how government, political actors, the media and civil society can work together to promote transparency and protect the integrity of Nigeria’s electoral process,” he said.

Iyanda described Agbakoba as an outstanding choice to preside over the conference, noting that few Nigerians have contributed as consistently to the country’s democratic development and the advancement of the rule of law.

He said the Senior Advocate of Nigeria has, over several decades, earned national and international respect through his work as a lawyer, public intellectual and advocate of institutional reforms, making him well suited to lead discussions on the responsibilities that accompany democratic governance.

Iyanda added that the 2026 conference is particularly significant as it marks the 10th edition of GOCOP’s annual gathering, which has become one of the country’s leading platforms for serious conversations on governance, public policy, the media and national development.

Established to promote ethical standards, professionalism and credibility in online journalism, GOCOP is an association of 127 leading online publishing organisations. Its membership comprises editors and senior journalists who distinguished themselves in print and broadcast journalism before establishing independent online news platforms.

Over the years, the Guild has championed responsible journalism, media self-regulation and professional excellence while contributing meaningfully to public discourse and democratic development in Nigeria.

Mutual Benefits Assurance Leads with Employee Wellness Initiative

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Mr. Femi Asenuga

Managing Director/CEO

Mutual Benefits Assurance Plc

Mutual Benefits Assurance Plc in partnership with Hallmark Health Services Limited (Hallmark HMO), a subsidiary of Consolidated Hallmark Holdings Plc has reaffirmed its commitment to employee wellbeing by hosting the Retail Aerobic Dance & Wellness Day 2026, a vibrant initiative designed to promote healthy living, preventive healthcare and workplace wellness among its Retail Team.

Held under the theme “Sweat It Out!”, the event brought together Retail Managers across Mutual Benefits for an engaging day of fitness, health education and preventive medical screening.

The programme featured an enlightening health talk on Cardiovascular Health delivered by medical professionals from Hallmark HMO, alongside complimentary health screenings, including blood pressure and other vital health checks. Participants also took part in an energetic aerobic dance session aimed at encouraging active lifestyles while fostering teamwork, camaraderie, and employee engagement.

Speaking at the event, Alexander Lawal, Chief Retail Officer, Mutual Benefits Assurance Plc emphasised that employee wellbeing remains fundamental to the company’s long-term success.

“Our people are our greatest asset. As an organisation that exists to provide security and peace of mind to millions of Nigerians, we recognise that this responsibility begins with caring for our own employees. The Retail Aerobic Dance & Wellness Day reflects our commitment to creating a workplace where our people are healthy, motivated, resilient and equipped to deliver exceptional service to our customers.”

Lawal added that promoting healthy lifestyles among employees contributes to higher productivity, stronger collaboration and a culture of excellence across the organisation.

Also speaking on the significance of the event, Dr. (Mrs.) Dotun Adeogun, Chief Executive Officer of Hallmark HMO, highlighted the importance of preventive healthcare in today’s workplace.

“Wellness should never be viewed as an occasional activity but as an essential part of everyday life. Many lifestyle-related illnesses, particularly cardiovascular conditions, can be prevented through regular health checks, physical activity and healthier daily habits. We commend Mutual Benefits for prioritising the wellbeing of its workforce and demonstrating leadership in creating a healthier workplace culture.”

The event concluded with an exciting aerobic fitness session, interactive wellness activities and prize presentations, reinforcing the message that healthy employees are happier, more engaged and better positioned to drive organisational success.

The Retail Aerobic Dance & Wellness Day forms part of Mutual Benefits’ broader employee engagement and wellness initiatives aimed at fostering a high-performing workforce, while encouraging healthier lifestyles across the organisation.

Mutual Benefits Assurance Plc is one of Nigeria’s leading insurance companies, with over 30 years of experience in providing reliable and innovative Life and General Insurance solutions to individuals, families and businesses.

With a customer-centric approach built on trust, reliability and service excellence, the company remains committed to protecting lives, preserving assets and creating lasting value for its stakeholders through accessible insurance solutions and responsible corporate citizenship.

Hallmark Health Services Limited (Hallmark HMO) is a leading Health Maintenance Organisation in Nigeria, committed to delivering quality, accessible, and affordable healthcare solutions to individuals and corporate organisations.

Through an extensive provider network and a strong focus on preventive healthcare, wellness promotion and customer satisfaction, Hallmark HMO continues to improve health outcomes and support healthier communities across Nigeria.

 

Heirs MD, Wole Fayemi: Nigeria Cannot Solve Housing Challenge Without Insurance Protection

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At the recently concluded 20th Africa International Housing Show 2026, Wole Fayemi, MD/CEO, Heirs General Insurance, a member of Heirs Insurance Group, challenged policymakers, developers, financiers, and homeowners to rethink the country’s housing agenda by placing risk protection at the centre of national conversations.

Participating in a panel session on advancing affordable housing and strengthening collaboration across the housing value chain, Fayemi argued that increasing the supply of homes, while essential, will never be sufficient if the homes themselves remain vulnerable to preventable risks.

He said: “A housing policy that focuses solely on construction is incomplete. The true measure of success is not only the number of homes we build, but how effectively we protect the people, investments and communities those homes represent.”

As Nigeria intensifies efforts to bridge its housing deficit, one critical question continues to receive far less attention than it deserves: what happens after the keys are handed over?

Fayemi’s remarks come against the backdrop of recurring building collapses across Nigeria, incidents that have resulted in the tragic loss of lives in thousands, significant economic waste, and declining public confidence in the built environment. While regulatory reforms continue to evolve, Fayemi stressed that insurance must move from being viewed as a compliance requirement to becoming an integral pillar of responsible housing development.

Referencing the recently introduced NIIRA Act, 2025, he noted that both developers and occupiers have a critical responsibility to insure properties, not merely to satisfy legal obligations, but to strengthen resilience across the housing ecosystem.

“Every building represents years of investment, aspiration and sacrifice,” he said. “When those assets are left uninsured, the consequences extend far beyond individual property owners. Families are displaced, businesses are disrupted, financial institutions are exposed and national development suffers.”

Fayemi further observed that achieving affordable housing requires stronger collaboration across government, regulators, developers, insurers, financial institutions, and ultimate beneficiaries – the homeowners. According to him, integrating insurance into housing finance and development from the outset will improve investors’ confidence, encourage more sustainable developments, and help create communities that can better withstand unforeseen events.

He also called for greater public awareness of the role insurance plays in wealth preservation and economic stability, noting that many Nigerians continue to view insurance as an afterthought rather than a strategic safeguard.

“Insurance should not begin when disaster strikes; it should begin when plans are being drawn,” he said. “If we are serious about creating sustainable cities and protecting the wealth of future generations, then insurance must become part of every housing conversation.”

As Nigeria continues to pursue ambitious housing initiatives, Fayemi believes the conversation must evolve beyond the number of housing units delivered to the long-term resilience of the assets being created.

The question, he suggested, is no longer whether Nigeria can build more homes. It is whether the nation is equally committed to protecting them.

 

About Heirs Insurance Group

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.