Nigerian loss adjusters have secured a long-awaited revision of their professional fees, marking the first major review since 1992 and a significant boost for the insurance industry. The new fee scale, confirmed by Ikechukwu Udobi, President of the Institute of Loss Adjusters of Nigeria (ILAN), is expected to improve earnings, support training, and strengthen capacity to handle increasingly complex insurance risks. Udobi said the Nigerian Insurers Association (NIA) has issued directives to its members on the agreed fees, with only administrative sign-off remaining. “While the outcome may not meet all our expectations, it represents meaningful progress after more than…
Author: Elvis Eromosele
Nigeria is ramping up one of the most ambitious electricity access programmes globally, with plans to connect over 17.5 million citizens nationwide, Abba Abubakar Aliyu, Managing Director of the Rural Electrification Agency (REA), has said. Speaking at the Nigeria International Energy Summit (NIES) during a panel on “Reliable, Sustainable & Inclusive Power for Africa’s Future,” Aliyu said Nigeria’s electrification push has moved decisively from policy design to large-scale implementation, positioning the country among global leaders in energy access expansion. According to him, the REA is currently driving the development of over 1,000 mini-grid projects across the country, making Nigeria’s…
Air cargo operators at Lagos airports are divided over the Federal Airports Authority of Nigeria’s (FAAN) new cargo handling tariff of N20 per kilogram, which took effect on January 30, ending a rate that had remained unchanged since 2008. While some operators support the increase as necessary to fund long-overdue infrastructure upgrades, others argue it is abrupt and excessive, triggering protests and partial industrial action at the Murtala Muhammed International Airport (MMIA) cargo terminals. Supporters, including Faisal Jarmakani, Aramex Nigeria’s Managing Director, say the revised tariff, still lower than charges in neighbouring countries, could improve efficiency if revenues are transparently…
The Nigerian stock market extended its bullish run on Thursday as the All-Share Index (ASI) surged past the 171,000 mark for the first time, driven by strong buying interest in large-cap stocks. The ASI gained 1,722.1 points, or 1.01 per cent, to close at 171,727.5, up from 170,005.4 in the previous session. Market activity improved significantly, with trading volume rising to 953 million shares from 712.9 million shares recorded a day earlier. Total market capitalisation climbed to ₦110.2 trillion, from ₦109.1 trillion, reflecting renewed investor confidence and broad-based demand. Presco Plc led the market by value, recording trades worth…
The Federal Airports Authority of Nigeria (FAAN) says it will make a Truck Call-Up System fully operational at the Murtala Muhammed International Airport (MMIA), Lagos, within 18 months, as part of sweeping reforms tied to its recently reviewed cargo tariff. FAAN disclosed this in an interview with Nairametrics, explaining how revenue from the new cargo charges will be reinvested to modernise cargo operations, reduce congestion, and improve efficiency at Nigeria’s busiest airport. The Truck Call-Up System, alongside a Cargo Community System (CCS), forms the backbone of FAAN’s planned digital overhaul of cargo handling in Lagos. Both projects are being…
The European Commission has ruled that TikTok’s design features, most notably its infinite scroll, encourage compulsive use and fail to adequately protect users, especially children and teenagers, putting the platform at risk of heavy financial penalties. In preliminary findings released Friday, the Commission said TikTok may be in breach of the EU Digital Services Act (DSA), warning that the company could face fines of up to 6 per cent of its parent company ByteDance’s global annual turnover if it fails to make significant changes to how its app operates. The ruling comes amid intensifying global scrutiny of social media…
By Elvis Eromosele Nigeria is bleeding. From the forests of Niger State to the savannahs of Kwara, from the far North-East to the North-Central belt, the country appears trapped in an endless carousel of violence that continues to claim innocent lives, shatter families, and weaken faith in the state’s ability to guarantee the most fundamental responsibility of governance, security. The recent massacre in Woro community, Kaiama Local Government Area of Kwara State, is yet another tragic reminder of how fragile life has become in many parts of the country. Reports indicate that over 170 and counting residents were brutally killed…
…demands restoration of mandatory e-transmission of results “Nigerians are angry, and they have every right to be. What played out in the Senate over the Electoral Act amendment is neither a misunderstanding nor a technical error but a direct assault on electoral integrity and public trust.” This was how the #FixPolitics initiative reacted to the Senate’s reported rejection of the bill on electronic transmission of election results before it passed the long-awaited constitution review. In a statement by Anthony Ubani, Executive Director, #FixPolitics Africa, at the weekend, the initiative demanded the restoration of mandatory electronic transmission of results as a…
By Elvis Eromosele In Nigeria’s capital market, not all IPOs are created equal. Some merely expand options; others fundamentally reset assumptions. The anticipated public listing of Dangote Fertilizer Limited falls firmly in the latter category. Long before a prospectus lands on investors’ desks, the sheer scale, strategic positioning, and macroeconomic implications of the company are already compelling institutional and retail investors alike to rethink their 2026 investment math. This is not just about another Dangote Group asset coming to market. It is about how capital allocation, sector weighting, risk appetite, and long-term growth expectations may be recalibrated in the years…
Globacom has donated ₦1 billion to the Lagos State Security Trust Fund (LSSTF), reinforcing its commitment to public safety and sustainable economic growth in Nigeria’s commercial capital. The donation, one of the largest private-sector contributions to the Fund in recent years, followed Globacom’s participation in the LSSTF Private Sector Breakfast Meeting with CEOs, hosted by Lagos State Governor Babajide Sanwo-Olu on January 30, 2026. The forum focused on strengthening collaboration between government and business to improve security, innovation, and economic resilience. Welcoming the donation, Dr Ayo Ogunsan, LSSTF Executive Secretary/CEO, described it as a strong show of corporate citizenship and a…