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NAICOM Unveils 10-Year Transformation Plan via 7 Strategic Agenda

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The National Insurance Commission (NAICOM) has unveiled a 10-year transformation plan for the insurance industry with emphasis on seven (7) core strategic agenda to drive sustainable growth of the sector going forward.

Mr. Olorundare Sunday Thomas, the Commissioner for Insurance/CEO of NAICOM said at the 2023 National Insurance Conference in Abuja that the insurance sector 10-Year Strategic Roadmap and the Guidance Note for the Insurances of Government Assets and Liabilities will engender rapid growth of the industry into the foreseeable future.

Thomas mentioned that over the next decade (2024-2033), the insurance industry will seek to continue its transformation journey along the following Seven (7) strategic thrusts with the objective of achieving the corresponding goals. The seven goals include:

  • Transform the regulatory environment to sustain the industry growth
  • Transition to risk-based capital model
  • Promote insurance awareness and adoption
  • Broaden insurance product offerings and improve effectiveness of distribution channels
  • Enhance digitalisation of the insurance industry
  • Deepen the industry’s talent pool and capabilities
  • Support Nigeria’s economic transformation and sustainability agenda

Giving account of his stewardship of the sector so far, the NAICOM CFI said:

“The Commission under my leadership has remained resilient and focused on implementing initiatives that will foster development of the Nigerian insurance industry and align its fortune with that of the nation as the Africa largest economy. Your Excellencies, permit me to briefly highlight the following flagship projects being implemented by the Commission as part of the its medium term NAICOM Strategic Plan 2021–2023:

  • Ensuring improved safety and soundness of the Nigerian insurance sector to continue to de-risk economic activities of Nigerians through the enhancement of our prudential regulatory tools and good corporate governance practices
  • Migration of the Commission’s supervisory regime to align with global best practices. This initiative has enhanced the Commission’s distress management and market restructuring.
  • Implementation of Project E-Regulation through operationalised business process management solution and NAICOM Portal. The BPMS is currently being used to process applications from insurance institutions while the Portal remains the focal point for generation of unique policy identification numbers for all policies as well as repository for statistical data including verification of insurance policies issued in Nigeria.
  • Implementation of an actuarial capacity development programme for the Nigerian insurance industry. The programme has helped to develop some Certified Actuarial Analysts in Nigeria. The Commission will continue to engage relevant stakeholders with a view to developing additional Actuarial professionals for the industry.
  • Opening up the insurance supply-side through licensing of twelve (12) additional new entrants and expansion of insurance distribution channels, etc. The licensing of these companies has enhanced availability of insurance products as well as increase local insurance capacity in Nigeria. This was historic considering that the last time an insurance company was licensed by the Commission before those recently licenced, was 10 years ago while that of any Reinsurance company was 32 years
  • The Commission as part of its support to government initiatives mobilised the insurance industry to contribute the sum of N500 million and free Life Insurance cover for front line workers in the management of the COVID-19 Pandemic
  • The Commission has continued to reach out to State governments and relevant security agencies in the enforcement of compulsory insurances.
  • The Commission also provided financial assistance to tertiary institutions in Nigeria to facilitate education of professionals required by the insurance sector. Projects in five (5) tertiary institutions have been concluded and some Commissioned while seven (7) others are at various stages of completion.

“Notwithstanding the growth that had been sustained, the roadmap enumerated some of the challenges affecting the desired growth of the insurance industry which had persisted, such as: Talent gap, comparatively low public awareness, insurance affordability, lack of trust and confidence in insurers, cultural and religious bias, Inadequate distribution channels, low enforcement of insurance, and others.

In terms of its performance, the industry premium income between 2014 and 2022 grew at an average of 13.6%; from a premium income of N282 Billion to N726.2 billion. The total assets of the sector also grew at an average of 12% for the same period; from an asset base of N827.5 billion in 2014 to N2.33 trillion in 2022.”

He described the National Insurance Conference as one of the initiatives of the Commission to achieve the objective of incentivizing the law enforcement agencies, State Governments, relevant professional bodies and all other stakeholders. The conference will also sensitise the general public and create the needed awareness of the place of insurance in redefining safety in Nigeria.

“The Conference with the theme “Redefining Safety – Insurance Solutions for Public Buildings and Buildings under Construction” is only one out of numerous efforts of the Commission at creating the needed awareness of the general public of compulsory insurances. It has also created the platform to strengthen collaboration with relevant government and non-government agencies and other stakeholders.  This is being done to ensure that enforcement of all classes of compulsory insurances across the country are carried effectively.”

Sovereign Trust Insurance Sponsors Art & Jazz Night in Lagos

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Sovereign Trust Insurance Plc in conjunction with Sovereign Finance Limited recently sponsored an art and jazz night at the Lagos Motor Boat Club, Ikoyi Lagos, from October 18-20, 2023.

The three- day event had in attendance captains of industry and dignitaries from all walks of life.

The Chairman of Sovereign Trust Insurance Plc, Mr Oluseun O. Ajayi and the Managing Director/CEO of the Underwriting Firm were among the personalities who graced the event.

According to the Head of Corporate Communications & Investor Relations for Sovereign Trust Insurance Plc, Segun Bankole, “the event which was powered by LASGIDI ARTS EXHIBITION and sponsored by Sovereign Trust Insurance Plc, in association with Sovereign Finance Limited was designed to create a platform for budding visual artists in the country to display and get patronage for their works in good commercial value.”

He said the event was also meant to create a convivial atmosphere for both customers of the Underwriting Firm and that of Sovereign Finance Limited as a way of showing appreciation for their patronage and support for both organisations over the years.

The Managing Director of Lasgidi Art Exhibition, Abebi Akerele expressed her appreciation to both sponsors for believing in Nigerian Artists and promoting their works in such a noble manner over the three days that the event lasted.

She said more of such collaboration with corporate organisations will go a long way in encouraging the artists to up their game and become more commercially competitive in the visual arts space.

HP Unveils New High-Performance HP Z6 G5 A

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HP has unveiled the newest addition to the Z by HP workstation lineup, the HP Z6 G5 A, a cutting-edge desktop workstation designed to meet the demanding needs of virtual production, 3D rendering, AI, and machine learning professionals.

With the highest number of cores ever in a Z by HP workstation and the ability to configure up to three high-performance graphics cards, the Z6 G5 A is set to revolutionise productivity and performance.

Powered by the AMD Ryzen™ Threadripper™ PRO CPU, the Z6 G5 A features up to 96 cores in a single workstation CPU, allowing users to create and render simultaneously on intensive projects. With space for up to three high-end NVIDIA RTX™ 6000 Ada Generation GPUs or AMD GPUs and eight memory channels, the Z6 G5 A is perfect for tearing through virtual production, 3D modeling tasks, or complex, advanced data sets.

“The HP Z6 G5 A is a groundbreaking workstation that embodies the perfect fusion of maximised cores and powerful graphics,” said Jim Nottingham, Senior Vice President and Division President, Advanced Compute and Solutions, HP Inc. “Our team at HP is dedicated to empowering professionals across the fields of virtual production, 3D rendering, and data science with a robust and reliable solution that not only meets, but exceeds, performance expectations. The Z6 G5 A is a testament to our commitment to innovation, sustainability, and customer satisfaction as we continue to push the boundaries of what’s possible in workstation technology.”

“At AMD, we are proud to have our Ryzen Threadripper PRO 7000 Series processors power the new HP Z6 G5 A workstation, a cutting-edge solution that caters to the diverse and demanding requirements of today’s complex workflows,” said Jason Banta, corporate vice president and GM, OEM PCs. “Our collaboration with HP exemplifies our shared vision of pushing the boundaries of innovation and customer satisfaction, delivering a robust and reliable solution that exceed expectations in the ever-evolving field of high-performance compute.”

The Z6 G5 A can tear through virtual production or 3D modeling tasks as well as data science workflows like AI and machine learning. With an innovative system design and the new AMD Ryzen Threadripper Pro 7000 WX-Series CPU, the Z6 G5 A packs a staggering number of cores into a single workstation for higher productivity.

The Z6 G5 A also offers plenty of room to expand as demands change, with space for up to three high-end GPUs and flexible storage options with front-accessible, hot-swappable NVMe drives for quick and easy access to large files. The redesigned layout of this generation Z by HP desktop workstation increases airflow, ensuring the system remains cool even at peak performance, while intelligent fan control tunes the fan speeds in real-time using over 20 temperature sensors to maintain whisper-quiet operation. With 360,000 hours of rigorous testing, MIL-STD testing, and certification for professional applications, the HP Z6 G5 A is built to endure. As part of the World’s Most Sustainable PC Portfolio, HP’s commitment to sustainability is reinforced in the design, built with 40% recycled plastics, and is planned to be EPEAT® Gold-certified, reflecting the company’s dedication to helping the environmental impact of its products.

In today’s hybrid work environment, being able to tap into exceptional remote performance is a top priority. The HP Anyware solution allows for a colour-accurate, low-latency experience for 3D VFX, AI, and machine learning workflows under varying network connections, and the HP Anyware Remote System Controller enables IT managers to monitor and manage workstation fleets without compromising control. Additionally, the Z by HP Data Science Stack Manager streamlines access to the best open-source software solutions in a user-friendly platform for data scientists and AI creators. The HP Z6 G5 A supports WSL2, bringing the ability to run Linux within the Windows ecosystem and offering easy access to tools from the Z by HP Data Science Stack Manager and the new Z by HP AI Studio.


HP Z6 G5 A Features 

Create, render, process—all at once. 

  • Do it all—with efficient performance per watt—on the Z6 G5 A. The system design packs up to 96 cores in a single workstation CPU with room for up to three high-end GPUs.

Expandable. Flexible. Whisper Quiet. 

  • Designed to pack all the power and components you need now with room to grow—without throttling. Get maximum expandability with up to 6 PCIe slots (up to gen 5) and 12 NVMe SSDs.

Comprehensive Security. Trusted Reliability. 

  • The Z6 G5 A has undergone 360K hours of rigorous testing, MIL-STD testing, and is certified for pro apps. With HP Wolf Security for Business, it’s protected below, in, and above the OS.

Discover the power of the HP Z6 G5 A workstation and revolutionize your workflow, unleashing new data-driven insights and unparalleled performance for your most demanding projects. Create, render, and process all at once with the new HP Z6 G5 A and unlock the full potential of your most demanding projects.

 

9mobile Celebrates 15 Years of Innovation, Excellence, 9ja Spirit of Resilience

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Emerging Markets Telecommunications Services (EMTS) trading as 9mobile has announced its 15th anniversary in Nigeria, marking a significant milestone in its journey of providing exceptional services to customers across the country. The brand which commenced its journey into the Nigeran market on October 23, 2008, with the disruptive ‘0809ja’ campaign, has been at the forefront of innovation, delivering cutting-edge telecommunications solutions to meet the evolving needs of businesses and individuals.

Over the past 15 years, 9mobile has affirmed its heritage as a truly Nigerian company renowned for youthfulness, innovation, reliability, and outstanding customer service. Throughout its journey, the company has continuously embraced technological advancements, ensuring that its services remain at the forefront of the industry. From the early days of voice services to today’s high-speed internet connectivity, cloud solutions, and digital communications, 9mobile has consistently adapted and evolved to meet the demands of the digital age.

“We are thrilled to celebrate our 15th anniversary, a significant milestone that showcases our dedication to providing top-notch telecommunications solutions,” said Juergen Peschel, CEO of 9mobile. “We owe our success to our loyal customers, partners, investors, regulators, and the hard work of our talented team. Some of our staff have been with the business since inception and this anniversary is a testament to their unwavering support and commitment.”

As we retrospect, we take great joy in our heritage as a truly Nigerian company that has revolutionized Nigeria’s telecommunications industry with an array of innovative products, services, and solutions that empower the youth, entrepreneurs, and indeed all segments across the country.”

Peschel emphasised that a strong and resilient Nigerian spirit resides in the brand, which is a testament to the company’s dynamism, responsiveness, and agility as a business while leveraging the power of technology to deliver innovative products and services to meet customers’ needs.

Over the past 15 years, 9mobile has achieved numerous milestones, including expanding its network coverage, launching innovative products and services, and forging strategic partnerships with industry leaders. The company’s commitment to excellence has earned it several prestigious awards and recognition within the telecoms sector.

“We are proud of all our achievements – the firsts we have recorded in this industry.  We are poised to do more even with the challenging business environment. We have had our ups and downs, but we will continue to consolidate on our successes and milestones in the coming years”. he continued.

The brand has recorded many firsts in the industry including its most daring Masterbrand campaign ‘0809UChoose’ which put the power in the hands of subscribers to determine their mobile numbers.

The brand also deployed Moreblaze, its revolutionary data bundle that offers the fastest data, and Cloud 9, a music platform that offers the best of unique end-to-end experiential music performances. It recently launched The Hack, an SME initiative that serves as a growth enabler for small businesses, which has seen it traverse cities and campuses. It has also left significant footprints on education, arts, and culture with the 9mobile Telecommunications Engineering Postgraduate Program (9TEPP), its flagship pan-Africa 9mobile Prize for Literature which promotes literacy and encourages writers to hone their craft across Africa and Photography Competition.

“Looking towards the future, 9mobile is on a transformation journey and is committed to continuing its legacy of excellence, innovation, and exceptional customer service. With a dedicated team and a clear vision, we are poised to explore new horizons, push boundaries, and redefine the telecommunications landscape. We remain focused on our mission to connect people, empower businesses, and drive digital transformation in Nigeria” Peschel concluded.

Nigeria’s Decade of Gas Will Support Global Energy Security – NLNG MD

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(L-R) Nnamdi Anowi, GM, Production; Ms. Kadri Simson, EU in Nigeria Commissioner for Energy; Dr. Philip Mshelbila, NLNG’s MD/CEO; and Andy Odeh, GM, External Relations and Sustainable Development during an EU in Nigeria delegation visit to NLNG’s plant on Bonny Island…recently.

The Decade of Gas plan is the most comprehensive plan to restore efforts to fully harness Nigeria’s vast gas resources and ensure a reliable global supply of gas as a clean energy source and a major fuel in the energy transition mix, the Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Dr. Philip Mshelbila, has said.

He said this during the visit of a delegation from the European Union (E.U.) in Nigeria to NLNG’s plant on Bonny Island, Rivers State over the weekend. The delegation, led by the E.U. in Nigeria Commissioner for Energy, Ms. Kadri Simson, was received by Dr. Mshelbila; Nnamdi Anowi, General Manager, Production; Andy Odeh, General Manager, External Relations and Sustainable Development and other management staff.

Briefing the delegation on NLNG’s operations and business, Dr. Mshelbila pointed out that there were plans to address the root causes of issues in the gas sector, adding that what is needed to complete the plan is the firm will of all stakeholders and urgent action. He stated that the remedy to industry challenges lies in a concentrated effort on making the gas sector work as the country has huge potentials as the 6th nation with the largest natural gas reserves.

“Our commitment to harnessing the immense potential of natural gas will not only restore Nigeria’s reputation as a major energy powerhouse but also propel us towards a cleaner, greener future. With innovation, collaboration by stakeholders, including the government and investors, especially from Europe, and unwavering determination, we can shape the energy landscape of tomorrow, create more opportunities for gas supply globally, drive economic prosperity, create jobs, and mitigate environmental challenges through gas,” he said.

Dr. Mshelbila further highlighted that investment in Nigeria’s gas sector would wield a far-reaching influence on the global gas and LNG supply landscape, ensuring the world has continuous access to reliable and environmentally sound energy throughout the ongoing energy transition.

He stated that the Train 7 project was about 50% complete and will bolster NLNG’s production capacity to 30 million Tonnes Per Annum (MTPA) upon completion. He added that NLNG is working on a plan to decarbonise and stated that NLNG was also looking to the future for further expansion with more trains, which would act as catalysts for the continued advancement of the gas sector.

Responding to the presentation, the E.U. Commissioner for Energy in Nigeria, Ms. Kadri Simson, commended NLNG’s business model.

“The E.U. is accelerating its energy transition, but we also have a need to reinforce our ties with reliable LNG partners like Nigeria in the short-term horizon. This helps us to bridge part of the gap left by former Russian imports while we gradually transition away from fossil fuels. Nigeria has proven to be a reliable partner, and last year, 9.4 bcm of LNG was exported from Nigeria to the E.U. But there is potential to do more – in particular between now and 2027,” she stated.

During the visit, the delegation took a tour of the Central Control Room (CCR), the plant complex and the Train 7 construction site.

NLNG is owned by four Shareholders, namely, the Nigerian National Petroleum Company Limited (49%), Shell Gas B.V.  (25.6%), TotalEnergies Gaz & Electricite Holdings (15%), and Eni International N.A. N. V. S.àr.l (10.4%).

 

Polaris Bank Supports Girl-Child Education in Nigeria’s Public Schools

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L-R: Chairman, Pacegate Limited (Owners of Evolve Charity), Manoj Kirpalani; MD/CEO, Polaris Bank Limited, Adekunle Sonola, and Managing Director, Pecegate Limited, Umesh Amarnani at the presentation of school bags, sandals, books, pens and school uniforms to Opebi Junior Grammar School Students in the ongoing CSR Partner in the Girl-Child Education Project in Lagos.

In another display of its commitment to supporting the ‘Girl-Child Education Project’, a critical pillar of its Corporate Social Responsibility (CSR) framework, Polaris Bank, in partnership with Evolve Charity, a non-profit organisation, has presented educational materials to more than 400 students in Ikeja and Surulere areas of Lagos State.

The donated materials which include; school uniforms, school bags, pens, sandals, and various books, were presented to the students of both Opebi Junior Secondary School, Opebi, Ikeja Lagos, on Wednesday, October 18, 2023 and Gbaja Junior Girls High School and Gbaja Senior Girls High School, at their school premises in Surulere, on Thursday, October 12, 2023.

The initiatives to the three Schools were part of activities marking the United Nations Children’s Fund (UNICEF) International Day of the Girl (IDG). The International Day of the Girl is observed annually on 11 October, as a global platform to advocate for the full spectrum of girls’ rights. Fittingly, Polaris Bank’s support for the ‘Girl-Child Education Project’, seeks to promote empowerment of the girl-child through education.

Speaking at the presentation of the educational materials, at Opebi Ikeja, the Managing Director/CEO of Polaris Bank, Adekunle Sonola, spoke of the Bank’s commitment to quality education of the girl-child. “At Polaris Bank, we are of the firm belief that every investment on education, especially on empowerment of the girl-child, leaves a lasting impact, not only on the child, but on the society. This is why we partnered with Evolve Charity to launch the Support for the Girl Child Education Project.”

He reaffirmed the Bank’s confidence in education, saying, “We believe in education as an organisation, and more importantly, we believe in identifying with the pupils in these school. We have done this over the past few years, and it is something we’re committed to doing, and will continue to do”.

According to the CEO, the intervention is aimed at keeping the girl child in school and educated, thereby reducing the growing cases of early marriages in society. “The objective is to empower these underprivileged girls through education by providing them with school supplies and personal development tools they need”.

Also, speaking at the presentation of the educational supplies, the Managing Director, Pacegate Limited, owners of Evolve Charity, Umesh Amarnani, acknowledged the essence of sustainable education intervention, noting that the select schools are now our responsibility by adoption, and we will continue to provide the students with school supplies, whilst focusing especially on the girls and teaching their teachers value-based education that impact good manners on the students.

He commended the partnership with Polaris Bank, saying, “we’re happy to partner Polaris Bank and other institutions that have supported us in our cause. And what is most interesting is that all the work is being done voluntarily by all Nigerians working in the company. And we are covering 36 schools across 6 states. We started this initiative four years ago, and we are planning to go on every year and do more and more”.

Earlier the Principals of the beneficiary schools expressed their profound appreciation on behalf of the managements and students of their respective schools.

Mrs. Omolara Awosan, the Principal at Opebi Junior Secondary School, expressed her delight at the good gesture saying: “I’m so excited, on top of the world. I think this is my third time since I became the principal of the school, that they have been here, giving our children school bags, uniform, sandals, and some other writing materials. I’m so happy.”

Like their teachers, the students at all the beneficiary schools could not also hide their excitement as they were full of appreciation and prayers for the kind gesture towards their academic development.

“I have gained from the writing materials I was given and got a bag and school uniform, and I don’t have to buy another uniform to sow aside this…and this presentation, has been being helpful”, Ogunsanya Kemisola, a JSS 2 Student of Opebi Junior Secondary School remarked.

Evolve Charity, a non-profit organisation, is the CSR arm of Pacegate Limited, one of the leading manufacturers of UN Certified Steel Drums and distributor of Adipro Lubricant Additives and chemical solutions to various sectors of the Nigerian Economy. Its partnership with Polaris Bank, Nigeria’s leading Digital Retail Bank was consummated in 2021.

The Girl-Child Education in Nigeria project is one of Polaris Bank’s CSR strategic footprints in education. In addition to girl-child education, the Bank also has other initiatives aimed at improving the lives of women. In 2021, the Bank took its Feminine Hygiene Campaign, an advocacy and capacity building initiative on menstrual hygiene for girls, to nine secondary schools in three states across North-Central & North-East geo-political zones of the country.

Similarly, the Bank embarked on a value-based initiative designed to raise consciousness for women-focused and other societal interventions in the country comprising implementation of tailored interventions like the provision of free breast cancer screening to over 20,000 women in Nigeria in partnerships with Care. Organisation. Public Enlightenment (COPE), Nigeria’s leading breast cancer-focused NGO.

Polaris Bank, adjudged digital bank of the year 2021 and 2022, is a future-determining Bank committed to delivering industry-defining products and services across all sectors of the Nigerian economy.

BRI: NASENI, Chinese Firms Sign MoU, Receives Letters of Intent for $2bn Investments 

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At a ceremony attended by Vice President Kashim Shettima on Thursday, October 19, 2023, on the sidelines of the third Belt and Road Initiative (BRI) Forum in Beijing, China, the National Agency for Science and Engineering Infrastructure (NASENI) and new Chinese partners signed three (3) Memorandum of Understanding (MoU) for new projects valued at $2 billion.

The three Chinese companies that signed MoU to partner with NASENI and invest in Nigeria include Shanghai Launch Automotive Technical Co Limited – an MoU to establish a new energy automobile facility for the production of new energy electric vehicles.

Others are: China Great Wall Industry Corporation- an MoU for the turnkey delivery of Unmanned Aerial Vehicles (UAV) assembly line projects; and Newway Power Technology Company Limited – an MOU for the transfer of technology on lithium batteries, electric vehicles and allied technologies.

In addition to the MoU, 10 Chinese firms also presented Letters of Intent to the Vice President, indicating strong interest in partnering with NASENI to invest in and develop various technology and industrial innovation projects, collectively valued at $4 billion, covering energy (solar, natural gas, microgrids), vehicle production, training and technology transfer, drone technology, and the development of a new industrial park.

Speaking at the ceremony, Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of NASENI, Mr. Khalil Halilu, who signed the agreements on behalf of NASENI, said: “This is a very important day for us at the National Agency for Science and Engineering Infrastructure, because it is a day to show the results of some of the work that we have been doing in the last six weeks since I assumed the leadership of NASENI.”

He added: “Collectively, these three MoU will, upon implementation, deliver $2 billion worth of new investments in Nigeria; that will translate into jobs, skills development and technology transfer, potential exports and foreign exchange earnings, and a boost to local economies.”

The NASENI EVC/CEO described the MoU and the Letters of Intent as “early fruits of the diligent work of the new NASENI, an institution that we are reforming and building around the core principles of Collaboration, Creation and Commercialisation.

He added that “we see this as a chain: we forge partnerships with willing and committed partners, at home and abroad; on the basis of these partnerships, we create and co-create new products and innovation; and then we ensure that these products are taken to market in a commercially viable and profitable manner.”

He stressed that the Agency will “work very hard to transform them into commercially viable products, that will drive the industrialisation, development, and prosperity of Nigeria”, adding that “Innovation is not meant for the shelves, or the archives. It should translate into usable products. This is our belief, and one of our driving principles at NASENI.”

Halilu expressed gratitude to His Excellency, President Bola Ahmed Tinubu, who is the Chairman of the Governing Board of NASENI, as well as Vice President Kashim Shettima, for the immense support and encouragement that they have provided to him and to the Agency, pledging that the confidence they have reposed in him will not be misplaced.

The Chinese companies that submitted Letters of Intent to Vice President Shettima are TBEA (solar products); DongFeng Vehicles Co. (vehicle design and production), HiLong Energy (CNG, LNG, methanol); China State Construction Company (building technology and materials); CIMC (natural gas infrastructure delivery).

Others are: Value Platform International Services Limited (vocational training); Acadia Technologies (Shenzhen) Co. Limited. (smart grids and microgrids); Space Star Technology (Drone technology transfer); ENRIC (clean energy utilisation technology); and Hidier Group (development of new industrial park).

 

GOCOP Congratulates Soneye, NNPCL’s New Spokesman, Enugu Commissioner Agbo, Others on Appointments

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The Guild of Corporate Online Publishers (GOCOP) has congratulated Mr. Olufemi Oladapo Soneye over his appointment as Chief Corporate Communications Officer (CCCO) of the Nigerian National Petroleum Company Limited (NNPCL).

The Association also congratulates its pioneer president, Dr. Malachy Agbo, who was recently sworn in by the Governor of Enugu State, Mr. Peter Mbah as Commissioner for Human Development and Poverty Eradication.

Reacting to the developments, the President of GOCOP and Publisher of Realnews online magazine, Maureen Chigbo, applauded the appointments and enjoined them to remain good ambassadors of GOCOP while counting on the Guild for maximum support.

A press statement by GOCOP Publicity Secretary, Mr. Remmy Nweke, quoted Chigbo as recalling that another high-ranking GOCOP member, Malam Rasheed Olawale of Sahel Standard, was recently appointed as the spokesperson to the Osun State Governor, while Mr. Ajagbe Adeyemi Teslim of August24news was also appointed Special Adviser on Digital Communications to the Lagos Island Council Chairman.

The GOCOP President noted that Mr. Soneye, until his appointment, was of the Per Second News while Dr. Agbo was Founding Publisher of The Citizens.

She wished all the political appointees success in their new roles, reiterating that the Guild is ever ready to support and partner with them to ensure they delivered on their mandates.

GOCOP, a registered non-governmental, non-partisan, non-profit organisation, comprises owners of online publications. It recently held its annual national conference in Abuja.

The conference was chaired by Prof. Ishaq Oloyede, the Registrar and Chief Executive Officer of the Joint Admissions and Matriculation Board (JAMB), while the first Nigerian Professor of Capital Market, Prof. Uche Joseph Uwaleke of Nasarawa State University Keffi, delivered the keynote.

Almond Insurance Industry Award: 1,600 Votes Recorded as Voting Ends Today

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Nominees in the various categories in the 2023 Almond Insurance Industry Awards are in last minute race as voting ends on Friday, October, 20, 2023 by midnight.

The industry players have responded overwhelmingly to the entire process as over 1, 600 people have voted and still counting.

According to the Chairman of the Award Panel of Judges, Ms Prisca Soares, the Panel is now warming up to the task of selecting and cross-checking with collated data from the NIA and NAICOM that will help in choosing eventual winners in the various categories.

The Panel of Judges have also made do their promise of releasing the identity of nominees in the two Special Categories: Insurance Life Achievers Awards and Insurance Broker Life Achievers Award.

These two categories have thrown up heavyweights in the insurance industry such as Valentine Ojumah, Fatai Kayode Lawal, Wole Oshin, Tope Smart and Eddie Efekoha in the insurance.  While for Brokers, the likes of Shola Tinubu, Amos Adeyeye, Prosper Okpue, Chief Babajide Agbeja and Prof. Ahmed O. Salawudeen are in the race.

All Winners will be announced at the Awards Nite on Friday, November 3, 2023 at the Queens Park Events Center, Victoria Island, Lagos.

NCDMB Chief: Local Content is Africa’s Route to Economic Development

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African nations seeking to achieve economic prosperity must develop local capabilities to process, utilise, and export their resources as a means of powering their growth and development, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote said on Tuesday.

The Executive Secretary made the submission in his presentation at the on-going 2023 Africa Energy Week in Cape Town, South Africa. He regretted that most African nations lacked requisite local capacities in key areas of the oil and industry such as Engineering, Procurement, Construction and Fabrication, Installation, Commissioning, and Operation, and that resulted in the loss of job creation opportunities, revenues, skills acquisition, and other aspects of national development.

A further negative impact is that those broad categories take a significant proportion of the oil and gas industry expenditure, hence it is expedient for oil-producing nations to develop local capabilities that would ensure that those financial outlays are retained in-country, he said.

Advising on the strategy for enhancing local content capacity in African nations, Wabote stated that one important plan is to make local content a national agenda and back it with the appropriate legislation or legal framework in their respective jurisdictions. This would “make it clear to all and sundry that local procurement, fabrication, and manufacturing is a national priority such that all institutions, businesses, decision-makers, investors, and citizens will buy into the vision.”

Using Nigeria as an example, Wabote recalled that Nigeria started with policy directives to deepen local content practice in the oil and gas sector before enacting the Nigerian Oil and Gas Industry Content Development (NOGICD) Act in 2010, thereby eliminating the possibility of companies complying with local content requirements in the oil and gas sector on ‘best endeavour’ basis.’

He listed other strategies for enhancing local content capacity as establishing factual data on current capacities in-country and carrying out gap analysis between current realities and the national vision. He noted that “periodic gap analyses are essential to determine gaps that need to be closed and the progress being made in the target areas of interest.

He insisted that local content is not ‘copy and paste’, hence local peculiarities must be factored into programs aimed at enhancing local capabilities.”

The NCDMB boss identified other enhancement tools to include Structured Capacity Building interventions to close identified gaps and funding and incentives, describing them as essentials to implement local content programs, develop infrastructure, attract new investments, and keep existing businesses afloat.

Speaking further, Wabote highlighted the importance of patronizing in-country capacities and capabilities, clarifying that all policies, capacities, and individuals will become frustrated if there is no outlet to engage them and receive rewards for sustainability and growth.

He explained that the Board ensures patronage of local goods and services by using the ‘right of first refusal’ principle contained in the Nigerian Content Act and various project certification and compliance monitoring tools.

Giving an update on the Board’s activities, the Executive Secretary informed that NCDMB commenced the implementation of a 10-year Strategic Roadmap in 2018, with the goal of raising the level of Nigerian Content in the Nigerian Oil and Gas industry to 70% by the year 2027. He indicated that various initiatives were put in place under five strategic pillars and four vision enablers. He noted that “as at end of year 2022, and five years into the 10-year journey, we have achieved 54% Nigerian Content level against the target of 42%.”

 

 

 

NCDMB/ NLNG Working Group Reaffirms Commitment to Local Content Performance

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The Nigerian Content Development and Monitoring Board (NCDMB) and foremost gas firm, the Nigeria Liquefied Natural Gas Company (NLNG) Limited are strengthening self-appraisal mechanisms instituted to advance objectives of local content compliance and development.

At a one-day meeting of the NCDMB/NLNG Technical Working Group held at the Nigerian Content Tower (NCT), corporate headquarters of the NCDMB, on Tuesday, key personnel of the two organisations led by Engr. Paul Zuhumben, General Manager, Project Certification and AuthorisationDivision (PCAD), NCDMB, and Mr. Andy Odeh, General Manager, External Relations, NLNG, expressed satisfaction with the grounds covered in the implementation of action plans.

Deliberations centred around measures to secure approval of in-house operational blueprint, Energy Transition, Advanced Training, Executive Summary Report on NLNG Train-7, and update on capacity building. It was noted that “most activities are on-going.”

Related subjects dealt at the meeting include Development of NCDMB’s Nigeria Oil and Gas Industry Content Joint Qualification System E-Marketplace Module, NLNG Asset Human Capacity Development Implementation, NLNG Train-7 HCD and R&D Execution Update, Monitoring of LNG Contracts below US$1 million, NLNG-NCDMB Service Level Agreements Performance Review, Factors Affecting Commercial Evaluation Delays, Energy Transition Workshop, and Expatriate Quota.

The TWG emphasised the critical importance of stakeholder surveys and committed to ensuring prompt attention to matters raised for consideration. A Stakeholders Retreat was agreed upon to facilitate knowledge-sharing interactions. Scheduled to hold within the last quarter of 2023 on Bonny Island, the Retreat would include community and plant tour, sessions on Nigerian Content practices, and a golf competition.

The Technical Working Group, conceived by the Managements of both companies to facilitate “in-person discussion and resolution of strategic, tactical and operational issues, aims to “cut out bureaucracy and improve efficiency of decision-making, approvals, and Nigerian Content Development for NLNG. It acts as first level discussion and escalation group to review and unblock thorny issues or delays arising from Nigerian Content compliance on contracts and projects that have been unable to reach satisfactory resolution at the operational/officer level, among other things.

Earlier in his opening remarks, the Chairman of the Group, Engr. Paul Zuhumben, commended NLNG for clinching the Nigerian Content Contribution Award and its invaluable contribution toward the E-marketplace initiative.

At the end of the Meeting, NLNG’s External Relations General Manager, Andy Odeh declared that deliberations were very successful. According to him, the Group meets “to look at issues that border around enabling the business where there are challenges, so that those issues don’t become crises that begin to distort the business we do in NLNG: It could be NLNG is not giving enough information as it should or it could be that NCDMB is not moving as fast as they should, either with approvals or proposals that we have.”

Explaining further, he said, “We see ourselves as one because we are looking at a common goal, and the TWG Meeting helps us to be proactive in managing the things we manage either as a company, NLNG, or as an operator.”

The next meeting of the TWG is scheduled tentatively for February 2024 in Port Harcourt.

NAICOM Visits Housing Minister for National Insurance Conference 2023

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As part of the National Insurance Commission’s drive to ensure optimal participation in the 2023 National Insurance Conference, the Commissioner for Insurance, Olorundare Sunday Thomas and a delegation from NAICOM has paid a courtesy visit on the Honourable Minister for Housing and Urban Development, Arc. Ahmed Musa Dangiwa.

The visit afforded the Commissioner the opportunity to apprise the Minister of activities of the Commission. Mr.  Thomas also formally requested the physical attendance of the Minister at the National Insurance Conference being organised by the Commission.

In his response, the Minister accepted the Commission’s extended hands of collaboration in the area of compliance with the laws on public buildings and buildings under construction. He also confirmed his active participation and the Ministry of Housing in the conference scheduled to hold from 22-24 October 2023.

GIABA DG, Edwin Harris Jr, to Deliver Realnews 11th Anniversary Lecture

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Edwin W. Harris Jr.

Director General

ECOWAS Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), Senegal.

The Management of Realnews Magazine and Publications Limited, publishers of Realnews Magazine Online, has announced that Edwin W. Harris Jr, Director General of the ECOWAS Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), Senegal will deliver the Realnews 11th Anniversary Lecture.

The lecture on “Threats of Illict Funds Flow to the African Economy” will hold at the Sheraton Hotel, Lagos, on Tuesday, November 7, 2023.

The director general’s acceptance to deliver the lecture was communicated to Realnews in a letter dated September 25, 2023, that he personally signed. “With the immense interest I have generated in illicit financial flow from Africa and its negative impact on the governance, economies and other social facets of the African people, I am pleased to confirm my participation and graciously accept your invitation,” Harris Jr. wrote.

Harris Jr. has over 16 years of progressive experience in the public sector and in non-profit structures with in-depth knowledge and skills in governance, transparency and financial crimes. He has relevant skills on issues relating to governance, in the fight against money laundering, in the formulation of policies and the implementation of anti-corruption strategies.

From November 2019 to July 2022, he was director of the Financial Intelligence Unit (FIU) of Liberia. Under his tenure and to his credit, he, among other things, successfully coordinated the validation and publication of Liberia’s National Risk Assessment (NRA) report. Until his assumption of duty at GIABA, Harris Jr. was a Lecturer at the University of Liberia.

The lecture will be chaired by Mohammed Bello-Koko, Managing Director of Nigerian Ports Authority, NPA, who will also moderate the panel session.

Realnews, a general interest magazine, is an online publication that thrives on investigative journalism. We have expertise in reporting the oil and gas sector with its attendant environmental challenges. We aim to unearth exclusive stories about real people and the challenges they are facing in their day-to-day activities.

We do this bearing in mind that government can only act to influence the lives of people positively if they are aware of their true situation. Hence, our objective is to use our investigative skills to ferret out information in the sectors we focus on and produce an unbiased report which will actually influence the government and decision-makers to take actions that will make society better.
Realnews is populated by seasoned journalists who believe strongly in the tenets and ethics of the profession. The online publication believes that journalism as the fourth Estate of the Realm can contribute its quota towards building a fair and just society where fundamental human rights are respected and citizens have the freedom to pursue their interests anywhere in the world without hindrance. Its editors have a combined experience of several decades in active journalism practice and are highly dedicated to serving humanity. Hence its motto: “For God and Humanity.”
Realnews Anniversary Lecture Series was established to commemorate the best minds in our society and to tap from them to enrich the discourse in our national development.
The 10th Anniversary lecture in 2022 on “Drug Abuse among Youths in Africa: Implication for Nigerian Economy and 2023 Elections” was delivered by Brig General Buba Marwa, Chairman and Chief Executive Officer of the National Drug Law Enforcement Agency, NDLEA;  9th Anniversary Lecture of Realnews in 2021 was delivered by Engr. Simbi Kesiye Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board on “Nigeria in the Unfolding Integration of the African Market: The Oil and Gas Perspective”; 2020 Eighth Anniversary Lecture of Realnews was delivered by Boss Mustapha, Secretary to the Government of the Federation and Chairman of the Presidential Taskforce on COVID-19 on Managing COVID-19 Pandemic in Africa: The Nigeria Experience; Former President John Dramani Mahama of Ghana gave the 2019 Lecture on Beyond Politics: An Economic Narrative for West Africa while Prof. Mahmood Yakubu spoke on Political Transitions and Africa’s Economic Development: Preparations for Nigeria’s 2019 General Elections at the 2018 Lecture.

The 2017 Fifth Anniversary Lecture on African Leadership in a Turbulent Era was delivered by Dr. Oby Ezekwesili, former minister of Education and former World Bank Vice President. The 2016 Fourth Anniversary Lecture on Security and National Development in Plural Democratic Society was delivered by Dr. Mohamed Ibn Chambas, former United Nations Secretary General’s Special Representative to West Africa and Sahel; the 2015 Realnews Third Anniversary Lecture was delivered by Professor Chukwuma Charles Soludo, former Governor of the Central Bank of Nigeria (CBN) on November 19, 2015, under the theme: It’s The Nigerian Economy, Stupid? 

The Second Realnews Anniversary Lecture on Nigerian Democracy: Getting it Right in 2014 was delivered by Professor Maurice Iwu, former Chairman of the Independent National Electoral Commission (INEC).

 

Smile Communications Unveils CSR Initiative to Support Nigerian Schools

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L-R: Loyola College School Principal, Mr. Akinlayo and Smile representative, Mrs. Abodunde

Smile Communications, a leading telecommunications company with a strong presence in 9 States in Nigeria, is proud to announce the launch of a comprehensive Corporate Social Responsibility (CSR) initiative aimed at primary and secondary schools within its service areas across Nigeria.

With a deep commitment to making a positive impact in the communities it serves, Smile Communications has initiated this program to support schools as they resume new terms, particularly in these challenging times. As part of this CSR effort, Smile Communications will be distributing hundreds of exercise books to each of these schools, benefiting students and educators alike.

The primary objectives of this CSR initiative are to:

Support Education: Provide essential learning materials to students in underserved communities to enhance their educational experience.

Promote Community Engagement: Strengthen the bond between Smile Communications and the communities it serves by actively contributing to their development.

Encourage Learning: Encourage a culture of learning and academic excellence among Nigerian youth, helping them realise their full potential.

Speaking about this initiative, ‘Goke Olaleye], Head of Marketing Operations at Smile Communications, stated:

“At Smile Communications, we believe in giving back to the society that has supported us over the years. We recognise the challenges faced by parents, students and schools alike, during these times, and our CSR initiative is our way of providing meaningful support. Directly to schools and indirectly to the government in the alleviation of the hardships associated with new term / session resumptions.”

Smile Communications is dedicated to fostering sustainable growth and development in regions where it provides its services. This initiative is a testament to the company’s on-going commitment to corporate social responsibility.

New NCC Boss, Aminu Maida, Commits to Tinubu’s Vision on Digital Economy

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The new Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has said he would align the Commission’s regulatory focus to achieve the promises of President Bola Ahmed Tinubu’s Renewed Hope agenda to advance the nation’s digital transformation agenda.

Maida, who spoke to the Senior Management team of the Commission at the Commission’s Head Office in Abuja Tuesday, said there is a need to ensure that the NCC strategically focuses on ensuring all Nigerians have access to affordable and reliable broadband services. Part of this is to ensure “effective broadband infrastructure diffusion across the length and breadth of Nigeria.

The new telecom regulator paid tributes to former chief executives of the Commission for their laudable role in building a resilient telecoms industry. Dr. Maida said the pursuit of improved quality of service on the networks will be one of his priorities, as well as supporting the vision of the Federal Government and the Ministry of Communications, Innovations and Digital Economy.

“Considering the fact that many people are going more digital and virtual in everything they do, the telecom infrastructure is now under much stress. President Tinubu’s vision emphasises the need to build more robust broadband connectivity that will not only facilitate seamless digital transactions but also serve as the bedrock for e-governance and other socio-economic initiatives,” he said.

“As such, we would align with this aspiration to increase broadband penetration to 70 per cent and to cover 90 per cent of the population by 2025. Therefore, we need to build a reliable telecom industry with impressive quality of service (QoS) indicators with quality of experience (QoE) as our watchword and ultimate goal. This also requires us to address a number of issues such as the Right of Way (RoW) challenge, ensuring security of our telecom infrastructure, among others. Efforts must be made to significantly improve service delivery by ensuring the NCC is performance-driven,” he said.

“Mr President has a very clear agenda from which all of us are going to take our direction. The two major areas are job creation and enabling the digital economy. Where we are going in a nutshell is; everything that we do in this Commission has to align directly with the Strategic Plan of the Hon. Minister of Communications, Innovations and Digital Economy, Dr. Bosun Tijani and ultimately to the Renewed Hope agenda of His Excellency, President Bola Ahmed Tinubu. We would not deviate from that.

“We would not entertain anything that deviates from this direction because my key performance indicators (KPIs) are fed into the Minister’s KPIs and the President KPIs come from the electorate that put him into power. The Hon.Minister has said clearly that he is ready to build a robust digital infrastructure and empower three million Nigerians digitally and we have to do our best to support him in this regard,” Maida said.

He stated further that, in the Strategic Plan of the Minister, there was a plan to empower three million Nigerians in digital skills and entrepreneurship, adding that this will require the Commission to support Digital Bridge Institute (DBI) as a digital training institution, to be well positioned in driving the government’s agenda on youth empowerment.

The EVC also emphasised the importance of effective spectrum management and utilisation in supporting the envisioned digital connectivity agenda, which is critical to service deployment to the generality of Nigerians and businesses in the country.

Maida, while appreciating his predecessors and the entire staff of the Commission for the laudable role being played in digital transformation of all sectors by stimulating the deployment of baseline telecom infrastructure, however, called on the staff of the Commission to join his leadership with a sense of purpose as a team towards advancing the actualisation of the President’s Renewed Hope agenda, which, he said, recognises a thriving digital economy in achieving sustainable development and quality of life for all citizens.