Heirs Life Assurance Wins ‘Agency Company of the Year’ Award by CIFM

L-R: Yetunde Ayeni, Group Head, Resources, Heirs Insurance Group, and Mrs. Yetunde Ilori, President, Chartered Insurance Institute of Nigeria at the award presentation of the Agency Company of the Year to Heirs Life Assurance by the College of Insurance and Financial Management (CIFM), last week in Ogun State.

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US Oil Import from Nigeria Down 67%

The United States decreased its oil import from Nigeria by 67 per cent in 2014, signaling growing economic pain and sustained pressure on foreign reserves, already down to $29.3 billion as at April 15, 2015, its lowest point since 2010. Figures from the US Department of Commerce suggest that U.S. total trade in 2014 (exports plus imports) with sub-Saharan Africa (SSA) also went down by 18 per cent to $52.1 billion compared to 2013. “In 2014, U.S. imports from SSA decreased by 32 percent, falling to $26.7 billion and representing only 1.1 percent of total U.S. imports from the world. This decrease was mostly due to a 51 percent decrease in U.S. mineral fuel and oil imports from SSA. U.S. imports from SSA originated, for the most part, from South Africa Nigeria, Angola, Côte d’Ivoire, and Chad,” the report says.