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Business

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ICT

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Capital Market

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Insurance

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

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Sovereign Trust Insurance Spreads Love with Fire Safety Drive

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Mutual Benefits Begins 2026 with ₦5.9bn January Claims Settlement

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Business

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Repton Group Wins 2025 Dangote Cement Largest Distributor Award

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ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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NCC Spotlights Renewable Energy on World Consumer Rights Day

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Insurance

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Facebook CEO Visits Nigeria to Witness Africa’s Tech Revolution

Facebook CEO, Mark Zuckerberg visited Nigeria this week on his first trip to Africa, using his time in the country to visit the Yaba technology hub in Lagos, meet with developers and partners, and explore Nollywood.
Zuckerberg is in Nigeria to listen and learn and take ideas back to California on how Facebook can better support tech development and entrepreneurship across Africa.
One of his first stops on the trip was to visit a ‘Summer of Code Camp’ at the Co-Creation Hub (CcHub) in Yaba, known as the Silicon Valley of Nigeria.
CcHub opened in 2011 and at the time didn’t even have an office. Five years later, they fill three floors and the roof of a building. At CcHub, people can learn how to code, developers can get help launching their first products and find mentors and funding.
At CcHub, Zuckerberg met with developers like Temi Giwa, who runs a platform called Life Bank that makes blood available when and where it is needed in Nigeria. Life Bank saves lives by mobilising blood donations, taking inventory of all blood available in the country, and delivering blood in the right condition to where it is needed.
After visiting CcHub Mark Zuckerberg, CEO of Facebook, said:
“This is my first trip to sub-Saharan Africa. I’ll be meeting with developers and entrepreneurs, and learning about the startup ecosystem in Nigeria. The energy here is amazing and I’m excited to learn as much as I can.
“The first place I got to visit was the Co-creation Hub Nigeria (CcHUB) in Yaba. I got to talk to kids at a summer coding camp and entrepreneurs who come to CcHub to build and launch their apps. I’m looking forward to meeting more people in Nigeria.”

Meeting Developers at Andela
Mark then went to Andela, an engineering organisation that is building the next generation of technical leaders in Africa.
Andela is a business that recruits the most talented technologists in Africa and shapes them into world-class developers through a four-year technical leadership program.

In the two years since it was founded, Andela has accepted just over 200 engineers from a pool of more than 40,000 applicants. Andela developers spend six months mastering a technical stack and contributing to open source projects before being placed with global technology companies as full-time, distributed teammates, working out of Andela headquarters in Lagos and Nairobi.
Earlier this year, the Chan Zuckerberg Initiative invested in Andela after being impressed by the company’s innovative model of learning and its drive to connect the global technology ecosystem with the most talented developers in Africa.
Seni Sulyman, Director, Andela Lagos, said: “We are excited and honored to welcome Mark Zuckerberg to Lagos. His visit reinforces not only his support of Andela’s mission, but his belief that indeed the next generation of great technology leaders will come out of Lagos, Nigeria and cities across Africa. Andela has created a platform for passionate, driven software developers and engineers to break into the global tech ecosystem, but the barriers to entry are still very high. Mark’s visit demonstrates to all Nigerian developers and entrepreneurs that they’ve caught the attention of the tech world, and they are capable of succeeding on a truly global level.”
At the end of the day, Zuckerberg stopped by an Express WiFi stand in Lagos owned by Rosemary Njoku.

Facebook’s Express WiFi lets entrepreneurs like Rosemary set up a hot spot to help their community access apps and services built by local developers.

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Topics

Independents to Account for 25% Oil Production by 2020

Independents are projected to account for about 500kbpd by the year 2020, representing 25% of crude oil production in Nigeria, from the current level of 10%. The development is seen as a reflection of the changing landscape of the oil and gas industry in Nigeria. Key Recommendations: • Integration of the upstream to other parts of the value chain may eventually be driven by the independents. • Challenges such as security, especially for independents operating in shallow waters. Local companies reiterated that security and community challenges have greatly altered their cost of production which cannot be fully ascertained. When coupled with Government take and interest from loans the cost per barrel increases. • Government is to ensure that an enabling environment is created - independents need to be able to deliver on capacity growth and funding.

Linkage Assurance EGM 2022

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U.S. Banks Plan $16.6bn Digital Transformation in 2015

Retail banks (including thrifts and credit unions) in the U.S. will spend nearly $16.6 billion on hardware, software, services, and internal IT staff in order to develop and implement digital transformation initiatives in 2015. And this spending on digital transformation will grow at an average CAGR of 10.4% into 2019, according to recent IDC Financial Insights spending models. This compares to an overall IT spend growth of 3.9% for U.S. banks. A new report from IDC Financial Insights, “The Cost of Digital Transformation in US Banking: The Critical Technology Investments in 2015 and Beyond,” outlines how much money is being invested by U.S. banks in digital transformation, where those investments are going, and where IDC Financial Insights believes the growth will be the strongest in digital transformation investment.

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