NEWS AGENCY OF NIGERIA
NGO trains activists on human rights app
General News

NGO trains activists on human rights app

109 total views today

 

 

 

 

 

 

 

 

 

 

By Oluwatope Lawanson

A Non-Governmental Organisation (NGO), Devatop Centre for Africa Development, has trained 100 human rights activists on the effective usage of “TALKAM” app to strengthen grassroots responses to abuse and promote digital justice.

 

The News Agency of Nigeria (NAN) reports that the training was held on Friday in Lagos in partnership with the Intercultural Innovation Hub (IIH).

 

The Executive Director, Devatop, Mr Joseph Osuigwe, said the workshop was focused on advocacy and community engagement with the use of the app.

 

Osuigwe, represented by its Lagos Project Lead, Miss Janet Homo, said the workshop was organised to educate human rights activists on how to use TALKAM App, a mobile platform developed to enable citizens report human rights violations in real time.

He said the training under the Talkam Human Rights Initiative Project, held simultaneously in Lagos and Cross Rivers states, was facilitated by experts in human rights and digital advocacy.

 

According to him, the initiative reaffirmed Devatop’s commitment to building a network of digitally skilled and proactive human rights defenders across Nigeria.

He said the initiative would help Nigerians who were not only aware of their rights to take action wherever injustice occurs.

“The trainers led participants through engaging sessions on human rights fundamentals, community-based mobilisation, and how to navigate myths and misconceptions that often hinder advocacy efforts.

“It is a bold step toward equipping a new generation of human rights defenders with the tools, strategies, and digital platforms they need to challenge abuse and uphold justice at the community level.

“A major highlight of the workshop was the introduction and hands-on use of the TALKAM App.

“The participants were taught how to submit cases through the app, interact in the TALK Room, and provide feedback through the Google Play Store to help improve user experience,” he said.

 

He added that the aim of the of the training was for participants to develop customised community action plans, gain digital advocacy skills, and express increased confidence in their ability to identify human rights violations.

Mr Bemshima Abako, a facilitator, highlighted that a common myth was the belief that only governments were responsible for protecting human rights.

Abako stressed that individuals also had a vital role to play in protecting human rights.

During group discussions, Prudence Inana an advocate, emphasised the importance of giving children the space to participate in decision-making processes.

Another participant, Ayoola Gandonu, called for the training to be replicated in other states for wider reach and greater national impact.

Reflecting on the experience, Mr Anthony Oyigbeche, one of the newly trained advocates, expressed gratitude to Devatop for the knowledge shared and the smooth coordination of the programme.(NAN) (www.nannews.ng)

 

Edited by Chinyere Joel-Nwokeoma

Tour operators seek solutions to ease cross-border travel in West Africa
Culture & Tourism

Tour operators seek solutions to ease cross-border travel in West Africa

114 total views today

 

 

 

 

 

 

 

 

 

 

 

 

 

By Folasade Adeniran

 

 

 

Tour operators from across West Africa are calling for immediate reforms and practical solutions to tackle the persistent challenges faced during cross-border travel within the sub-region.

 

 

 

The operators made the call during a panel session at the ongoing eighth edition of West African Travel Expo (Accraweizo 2025), on Friday in Ghana.

 

 

 

The theme of the event is “Reimagining the ECOWAS Free Movement Protocol”.

 

 

 

Mrs Bolaji Mustapha, President, Nigerian Association of Tour Operators (NATOP), said that Public-Private Partnerships (PPPs) are vital for achieving seamless cross-border travel in West Africa.

 

 

 

“Tour operators need to move first while awaiting policy changes.

 

 

 

“The private sector must begin to push forward, just like in Kenya. The government followed the lead of the private tourism industry there,” she said.

 

 

 

She urged governments in the region to collaborate on infrastructure development, such as border facilities, roads, and transportation systems.

 

 

 

“There is a need for a good road network that will enhance seamless travel, and by so doing, airfare will reduce drastically.

 

 

 

“In many cases, it’s cheaper to fly to Europe than to a neighbouring West African country,” she said.

 

 

 

She also noted that creating bi-lingual content collaboration would bridge the region’s language divide.

 

 

 

“This will help in showcasing the region’s rich cultural heritage.”

 

 

 

Recounting a recent experience at the Kotoka International Airport in Accra, where immigration officials handled her documentation hiccup with professionalism, Mustapha stressed that such gestures could significantly alter perceptions about travelling in West Africa.

 

 

 

“These small acts of courtesy and efficiency build confidence in regional travel,” she said.

 

 

 

Also, Patience Okorie, Managing Director of God’s Own Travel Agency in Togo, said that a comprehensive tourism directory would give local operators better visibility to connect with regional players.

 

 

 

“A directory that covers multiple countries and inclusion of cultural festivals from across West Africa in cross-border travel itineraries will create value for both visitors and operators,” Okorie said.

 

 

 

On her part, Ayi Okoumassoun of Jessika Tours, Benin,reflected on the daily challenges operators face when traversing borders.

 

 

 

“Our fundamental need as tour operators is the ability to move freely from one country to another.

 

 

 

“Without that, we cannot work effectively,” she said.

 

 

 

Moderator of the session, Obama Ojukwu of Gota International, emphasised the role of the media in shaping positive narratives around West African tourism. (NAN) (www.nannews.g)

 

Edited by Olawunmi Ashafa

Agency trains 86 journalists on effective GBV  reportage
General News

Agency trains 86 journalists on effective GBV  reportage

83 total views today

 

 

 

By Joy Akinsanya

 

The Ogun State Economic Transformation Project (OGSTEP) has trained 86 journalists and media practitioners on effective reportage of Gender-Based Violence (GBV).

 

The News Agency of Nigeria (NAN) reports that the training was organised by the Gender unit of the Ogun State Economic Transformation Project (OGSTEP) on Thursday in Abeokuta.

 

The training had the theme: “Strengthen GBV Response Through Collaboration Learning and Safe Guarding Standard.”

 

Speaking at the training, the Project Coordinator of OGSTEP, Mrs Mosunmola Owo-Odusi, said it was organised to support the state’s efforts in addressing gender-based violence.

 

‘”As part of our programme intervention, we have gender mainstreaming across all our components and one of the areas we need support is to support the state in having a referral pathway for sexual assault incident.

 

“We have successfully done that, we have rehabilitated four sexual assault referral centres across the state.

 

“We have also equipped two of the centres to make sure survivors have a safe place to go to and where they can make their pains known.

 

“Also, we have staff that we have trained on how to handle survivors better and protect their dignity,” she said.

 

She, however, urged survivors to speak up and seek help, while emphasising that the state government has provided safe centres and trained personnel to protect their dignity.

 

Mrs Oluwatoyin Orelaja, a facilitator, who spoke on Understanding Trauma, Violence and Survivor interviewing, said that journalists need a solid understanding of what constitutes GBV, its various forms, and the impact on survivors.

 

Orelaja also emphasised the importance of putting the survivor’s needs first to avoid traumatisation.

 

She stressed the need for journalists to be sensitive in their choice of words and protection of survivors identity while reporting.

 

Another speaker, Mrs Ewajesus Fasina, a gender specialist for OGSTEP, said the media has the power to shape public opinion and influence outcomes through their reporting.

 

Fasina disclosed that 28 per cent of Nigerian women aged 25 to 29 had experienced some form of physical violence at age 15.

 

She noted that many survivors refused to speak out due to stigmatisation that comes from disclosure of identity by law enforcers.

 

“Journalists have the ability to cover various angles of a story, including health, security, and legal aspects, which is vital in the context of GBV.

 

“Without the journalists, it’s impossible to win the war against gender-based violence,” she said.

 

She said journalists should be more focused on the Violence Against Persons (Prohibition) Act and the Child Rights Act to back up their reports.

 

A legal practitioner, Mr Damola Lapite, who spoke on Legal Framework for GBV Response: Reporting, Persecution and Survivors’ Rights, emphasised the need for confidentiality and consent to avoid traumatising survivors.

Lapite noted that journalists must maintain confidentiality and obtain consent from survivors before reporting on GBV cases.

 

He enjoined journalists to always report accurate, fair and equity stories on Gender- Based Violence.

 

One of the participants, Mr Akeem Adegbenro, commended OGSTEP for the training, saying that it has given him a deep insight on how to report GBV effectively.(NAN)

Edited by Chinyere Joel-Nwokeoma

Experts underscore need for tourism development in West Africa
Culture & Tourism

Experts underscore need for tourism development in West Africa

97 total views today

 

 

 

 

By Folasade Adeniran

 

Tourism experts across West Africa have underscored the need to accelerate the development of the region’s tourism sector, highlighting its potential to drive economic growth, create jobs, and promote cultural exchange.

 

They made these remarks at the eighth edition of the West African Travel Expo (Accraweizo 2025), which began on Friday in Ghana.

 

The News Agency of Nigeria (NAN) reports that the event focuses on seamless travel in West Africa, exploring its opportunities and challenges, and features a summit for West African tour operators.

 

It has the theme: “Reimagining The ECOWAS Free Movement Protocol”.

 

Dr Tony Luka-Elumelu, Director, Private Sector, ECOWAS Commission, stated that tourism in Africa encompasses a wide range of experiences and benefits beyond mobility.

 

According to him, there is a growing demand for tourism in West Africa and the continent in general, driven by increasing disposable incomes and a desire for unique experiences.

 

He said, “Tourism is something that should flow within Africa.

 

“If we have all the sites that we talk about; hotels; whatever it is, if we protect them with the kind of passion that we ought to, we will find out that we will make Africa a destination continent.”

 

The director noted that ECOWAS had made significant contributions to tourism in West Africa through various initiatives.

 

He explained that some of these include a capacity-building programme, launched to equip stakeholders with essential tools to improve tourism standards, attract investment, and enhance cooperation across member states.

 

Luka-Elumelu added that ECOWAS also introduced the ECOTOUR Policy, a comprehensive framework aimed at making West Africa a competitive and preferred global tourism destination.

 

“This policy focuses on improving tourism standards, creating job opportunities, and ensuring smoother travel across the region,” he explained.

 

Luka-Elumelu further stated that ECOWAS is working to standardise tourism services, including hotel classification, to build trust and attract investment.

 

“This initiative aims to ensure that hotels across member states meet the same standards,” he said.

 

According to him, these initiatives demonstrate ECOWAS’ commitment to developing the tourism sector in West Africa, promoting economic integration, and improving the lives of its citizens.

 

Similarly, Prof. Kobby Mensah, Chief Executive Officer, Ghana Tourism Development Company (GTDC), noted that tourism is crucial for West Africa’s economic growth and development.

 

Mensah stressed the importance of delivering tailored tourism experiences that meet the needs of different visitor segments, leveraging technology and innovative processes to enhance the tourism experience.

 

He emphasised that digital transformation is key to unlocking Africa’s tourism potential, citing the need for seamless, tech-enabled interactions, from digital booking systems to immersive cultural experiences powered by technology.

 

“I have always thought that we haven’t really taken the big initiative that we have to, that could actually scale this sector.

 

“The continent has so much to give, but we haven’t been bold enough to let the continent give what it has to, and it looks like the tourism sector is just doing the same thing.

 

“This continent is absolutely tourism; the sector needs that kind of boldness to venture into spaces. And what will it take? It will take research,” he said.

 

In his presentation, Mr Gideon Asare, Managing Director, Adansi Travels, urged destination marketers to use Artificial Intelligence (AI) as a tool to enhance the visitor experience, increase tourism revenue, and promote sustainable practices within the sector.

 

He encouraged operators in the sector to tap into AI-enabled platforms to enhance their jobs.

 

In his remarks, Mr Ikechi Uko, organiser of the Accra Weizo Travel Expo, said the travel event is targeted at fostering seamless travel in West Africa.

 

According to him, the goal is to improve travel and tourism growth in West Africa through easy access to towns and cities within the region, improving and simplifying airport and border processes, among other things.

 

“West Africa is the biggest region in Africa, with over 400 million people rich in culture and tourist attractions.

 

“It receives the least number of tourists, yet West African countries generate the highest number of outbound travellers in Africa.

 

“There is a need to encourage West Africans to travel within the region, and this is the goal of Accra Weizo.

 

“To make this happen, there is a need to create a seamless travel environment.

 

“This will make West Africa an open domestic market, harnessing the market and opportunities within, which is the goal of Accra Weizo,” he added.

 

NAN reports that the event drew stakeholders from countries in the region including Nigeria,Ghana, The Gambia, Togo, Benin Republic, Senegal, and Ivory Coast among others. (NAN)

 

Edited by Olawunmi Ashafa

 

 

 

 

 

 

 

CSOs urge tech-driven inclusive governance
General News

CSOs urge tech-driven inclusive governance

125 total views today

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By Oluwatope Lawanson

 

Some Civil Society Organisations have urged the government to harness technology and innovation to create a more inclusive society where women play greater governance roles.

 

 

 

Mr Ibrahim Farouk, Programme Coordinator at Yiaga Africa, and Miss Ngozi Iyadi, Gender Equity Consultant at WILAN, made the call on Thursday at a Digital Democracy Exhibition in Lagos.

 

 

 

The event, held in Ikeja, was organised by Yiaga Africa in partnership with WILAN Global and Civic Hive, with support from BMZ through GIZ African Union.

 

 

 

Farouk said the project is a regional initiative implemented across Nigeria and Ghana, aiming to foster inclusive democratic participation.

 

 

 

He explained that the exhibition featured innovators showcasing tech solutions to address challenges facing women in politics, including stereotypes and misinformation.

 

 

 

Farouk added that the exhibition highlighted civic tech tools countering disinformation, boosting participation, and supporting women’s leadership, especially in upcoming local council elections.

 

 

 

He stressed the importance of technology in promoting good governance and expanding women’s inclusion in decision-making spaces.

 

 

 

“The exhibition unites innovators using digital tools to protect democracy, fight harmful narratives, especially against women, and improve citizen-government relations,” Farouk stated.

 

 

 

He advised the government to collaborate with civil society to support young tech innovators with solutions for inclusive governance.

 

 

 

“There must be synergy between government, civil groups, and tech innovators to promote inclusive leadership.

 

 

 

“Government can provide training and resources to help innovators scale and strengthen their impact,” he said.

 

 

 

Farouk also called for more women, especially young women, in party leadership, campaign roles, and elective positions.

 

 

 

He highlighted that women’s involvement is essential to strengthening democratic processes and outcomes.

 

 

 

Farouk observed that although women comprise more registered voters than men, they remain underrepresented in public offices.

 

 

 

He said, “We don’t have more than five female senators, despite women making up a majority of registered voters.”

 

 

 

He urged women to recognise and organise around their power to influence governance and decision-making processes.

 

 

 

“You can’t win elections without women’s votes. Politicians know this. Women must know it too,” he said.

 

 

 

Iyadi praised innovators for developing tech solutions that improve electoral processes and citizen engagement.

 

 

 

She urged the government to adopt these innovations to streamline elections and boost public participation.

 

 

 

Iyadi also highlighted the need to encourage young women’s participation in politics and leadership.

 

 

 

She said women’s involvement in politics is essential for building a more just and equitable society.

 

 

 

She echoed the importance of collaboration between government, civil society, and innovators to amplify women’s voices in governance.

 

 

 

Miss Ruhamah Ifere of Truly Verify Africa said her initiative empowers youth with digital literacy to fight disinformation through immersive education.

 

 

 

She described Truly Verify Africa as a social enterprise combating propaganda by promoting proactive digital education across the continent.

 

 

 

“The digital space in Africa is under threat from misinformation harming democracy, unity, and economic progress,” she said.

 

 

 

She explained that the solution lies not only in fact-checking but in teaching citizens how to discern digital content.

 

 

 

Another innovator, Luke Ikyaator, said Tech4Her is a four-month mentorship programme for young women in Lagos.

 

 

 

The initiative teaches essential tech skills while cultivating leadership to reduce the gender gap in tech and civic life.

 

 

 

“We can’t separate technology from daily life. It’s key to governance, especially in awareness creation,” Ikyaator stated.

 

 

 

NAN reports that seven innovators showcased tech solutions designed to boost political and civic participation.

 

 

 

The featured innovators included: Truly Verify Africa, Tech4Her, PromiseTrackerNG, The 51% AI Bot, PoliZ NG, FactsMatterNg, and Digital Lab. (NAN) (www.nannews.ng)

 

 

Edited by Kamal Tayo Oropo

CIoD Nigeria elects Oyebanji as 19th president 
General News

CIoD Nigeria elects Oyebanji as 19th president 

118 total views today

 

 

 

 

 

By Rukayat Moisemhe

 

The Chartered Institute of Directors Nigeria (CIoD), Nigeria’s premier corporate governance institute, has elected Mr Adetunji Oyebanji as its 19th president and chairman of governing council.

 

The election took place during the institute’s 41st Annual General Meeting (AGM) on Thursday in Lagos.

 

The News Agency of Nigeria (NAN) reports that Oyebanji’s election follows the successful completion of tenure by the institute’s 18th president, Alhaji Tijjani Borodo.

 

In his remarks, Mr Bamidele Alimi, Director General, CIoD Nigeria, said Oyebanji, a fellow of the institute and managing director/ Chief Executive of 11PLC emerged as president, following a duly conducted election.

 

Alimi described Oyebanji as an astute boardroom executive who had served the institute in several key capacities, including as first and second vice president.

 

According to the director general, Oyebanji also served as chairman, finance and general-purpose committee, and chairman of the membership and branch development committee.

 

“We are delighted to welcome Otunba Oyebanji into this new leadership role.

 

“His wealth of experience and longstanding commitment to CIoD Nigeria will no doubt, strengthen our mission to advance sound corporate governance and ethical business practices across the country.

 

“He brings over four decades of leadership experience in the oil and gas industry; he has held senior executive roles at Mobil Oil Nigeria Plc and currently serves as MD/CEO of 11plc,” he said.

 

Alimi added that Oyebanji, beyond corporate leadership, was a passionate community advocate and philanthropist.

 

He said his contributions to national development and grassroots empowerment earned him the traditional title of Otunba Olufi of Gbongan.

 

According to him, Oyebanji’s emergence as president would further elevate the institute’s influence in the corporate governance space and deepen its impact on ethical leadership development in the country and beyond.

 

NAN also reports that Mrs Amina’s Oyebola and Alhaji Lamis Dikko were elected first vice president and second vice president respectively.(NAN)(www.nannews.ng)

Edited by Yetunde Fatungase

Nigerian insurance industry written premium hits N1.5trn in 2024-NIA 
Economy/Business , General News

Nigerian insurance industry written premium hits N1.5trn in 2024-NIA 

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By Taiye Olayemi

 

 

 

Nigerian insurance industry has recorded a gross written premium of N1.562 trillion in the 2024 financial year.

 

 

 

Mr Kunle Ahmed, Chairman, Nigerian Insurers Association, disclosed this during the 54th Annual General Meeting of the Nigerian Insurers Association (NIA) on Thursday in Lagos.

 

 

 

Ahmed said that this represented a 56 per cent increase over the N1.003 trillion generated in 2023.

 

 

 

According to him, the industry’s total assets rose to N3.9 trillion, a 46.1 per cent increase from N2.67 trillion in 2023.

 

 

 

He said, “The Nigerian insurance industry in 2024 experienced notable developments, shaped by regulatory changes, economic conditions, and evolving market dynamics.

 

 

 

“Available data indicated robust growth in gross premiums. The industry reported a gross written premium of N1.562 trillion, a 56 per cent increase over the N1.003 trillion recorded in 2023.

 

 

 

“Non-life business accounted for N1.1 trillion, while life business generated N470 billion.

 

 

 

“The industry’s total assets expanded significantly to N3.9 trillion, a 46.1 per cent rise from N2.67 trillion in 2023.

 

 

 

“Market capitalisation also grew substantially, reaching N1.2 trillion, a 41 per cent increase from N850 billion in 2022.”

 

Ahmed further disclosed that the net claims paid by the industry stood at N622 billion, with the non-life segment accounting for N437 billion and the life segment for N185 billion.

 

 

 

He said within the non-life sector, fire, oil and gas insurance lines were key drivers of revenue growth, with all non-life products demonstrating strong quarter-on-quarter increases.

 

 

 

“The life insurance segment also saw substantial growth with group life insurance emerging as the largest premium generator.

 

 

 

“Despite this growth, insurance penetration remains low, with efforts to improve penetration tied to addressing the enforcement of compulsory insurance policies, improvement in claims payment process and the consolidation of the insurance enabling law.

 

 

 

“As we reflect on the achievements and challenges of the past year, we reaffirm our commitment to driving progress and innovation within the Nigerian insurance industry.

 

 

 

“The strides we have made through regulatory reforms, market expansion, and strengthened collaborations underscore our dedication to building a resilient, inclusive, and forward-looking sector.

 

 

 

“Our journey is one of continuous evolution, and with the unwavering support of our members and stakeholders, we will remain steadfast in our pursuit of excellence.

 

 

 

“Together, we will enhance industry standards, deepen financial inclusion, and foster a culture of integrity and professionalism that will shape the future of Nigerian insurance,” he said. (NAN) (www.nannews.ng)

Edited by Olawunmi Ashafa

NAICOM, FRC charge actuaries on product design innovation, risk management 
Economy/Business

NAICOM, FRC charge actuaries on product design innovation, risk management 

111 total views today

 

 

 

 

 

 

 

 

 

By Taiye Olayemi

 

 

 

The National Insurance Commission (NAICOM) has urged actuaries to design effective risk management strategies and develop products that meet society’s evolving needs.

 

Mr Olusegun Omosehin, Commissioner for Insurance and Chief Executive Officer of NAICOM, made the call at the 2025 Annual Conference of the Nigerian Actuarial Society (NAS) on Wednesday in Lagos.

 

The News Agency of Nigeria (NAN) reports that the conference, which brought together professional actuaries, insurers, academics, and students, has the theme: “Creating Value and Building Resilience in an Evolving Industry”.

 

Omosehin, represented by Dr Usman Jankara, Deputy Commissioner (Technical), NAICOM, stated that as the industry faces challenges such as climate risk, cyber threats, and health system vulnerabilities, the actuarial profession must continue to innovate and lead.

 

He noted that actuaries play a critical role, as their expertise in risk modeling, data analytics, and long-term financial planning is essential to ensuring that insurance products remain sustainable, inclusive, and responsive to major risks.

 

Omosehin said that the conference’s theme remained relevant as the Nigerian insurance sector continued to undergo significant transformation driven by technological innovation, shifting consumer expectations, and evolving regulatory frameworks.

 

He said, “It is reassuring to note that the industry has shown tremendous resilience and growth. As of Q1 2025, Nigeria’s insurance sector recorded a 63 per cent increase in gross premium income compared to Q1 2024, reaching N769.2 billion in just the first three months of 2025.

 

 

 

“This growth reflects market confidence and increasing relevance of insurance in the Nigerian economy. In the same period, the industry’s total asset stood at N4.12 trillion, underscoring a stronger financial foundation of the industry.

 

 

 

“These figures represent a positive improvement in the industry’s loss ratio when compared to Q1 2024, it also represents 89.1 per cent of total reported things, indicating improved responsiveness of the industry to stakeholders.”

 

 

 

According to him, NAICOM was committed to fostering a regulatory environment, supporting innovation, protecting policy makers, ensuring transparent processes, and promoting long-term industry sustainability.

 

 

 

He said that the commission was committed to strengthening supervisory framework, encouraging digital transformation and supporting inclusive insurance movement.

 

 

 

“Given Nigeria’s youthful tech savvy population, Nigeria is well positioned to lead in digital insurance.

 

 

 

“To seize this opportunity, we must invest in talent, or put global standards, and foster a culture of continuous learning and ethical leadership, while exploring new opportunities such as insurance,” he said.

 

 

 

The CFI said as part of NAICOM’s strategy, the guidance for insure -tech operations in Nigeria had been concluded and about to be issued.

 

 

 

He added that the commission had also launched the Actuarial Capacity Development Initiative, which is intended to build actuarial talent and efforts on going to India.

 

 

 

The commissioner, however, noted that there were a lot of challenges, including funding, but the commission was actively engaging development partners, such as the Afrikari Foundation, GIZ, UNDP, and other international donors to secure funding and support for the initiative.

 

 

 

Omosehin said, “While these efforts are ongoing, it has become imperative for the Nigerian insurance industry to fight this and commit to funding actuarial capacity development in Nigeria.

 

 

 

“I therefore call on all stakeholders, particularly insurers, actuaries, and educators, to continue to work together to build a resilient industry that is inclusive and value driven.

 

 

 

“We must continually champion policies that support actuarial development, encourage research, and ensure that our industry remains a pillar of economic stability and social protection.”

 

 

 

Also speaking, Dr Rabiu Olowo, the Executive Secretary and CEO of the Financial Reporting Council (FRC) of Nigeria, called for collaboration, purpose value creation and financial resilience in the industry.

 

 

 

Olowo said across the globe, people continue to witness profound shifts in how value is measured, risk is assessed and how systems respond to the rapid changes.

 

 

 

He said this also included the rise of artificial intelligence to climate uncertainty, sustainability reporting, graphical realignment to the evolving nature of managerial products in markets.

 

 

 

Olowo emphasised the role of actuaries in navigating uncertainty, guiding long-term decisions, and building sustainable systems through its deep foundations in mathematics, risk modeling, and financial foresight.

 

 

 

He said that stakeholders must fully leverage expertise of actuarial professionals to create value and resilience for the society, especially in Nigeria and in Africa.

 

 

 

“We recognised that for Nigeria to build a resilient and competitive economy, we need a robust pipeline of Actuarial experts.

 

 

 

“Nigeria currently has fewer than 30.5 actuaries while an economy which is similar to ours, South Africa, has about 2,000.

 

 

 

“This is a capacity gap that directly affects our ability to manage pension funds, price risks, value liabilities, and our ability to attract and retain investment.

 

 

 

“We are committed to building Nigeria’s Actuarial capacity and aligning with global standards.

 

 

 

“As a regulator, we depend on artuaries to help answer difficult questions. How do we value assets in an increasingly intangible economy?

 

 

 

“How do we protect public interest with fostering innovation? How do we integrate risks, sustainability, and resilience into the long-term economic planning of our nation and our organisation?

 

 

 

“These are the frontiers where Artuarial science must operate, and these are the challenges we must tackle together,” he added.

 

 

 

In his address, the President, Nigerian Actuarial Society (NAS), Mr Jolaolu Fakoya, who noted the critical role actuaries played in shifting a strong future for the economy, emphasised need for resilience in the industry.

 

 

 

“As we navigate an economy marked by uncertainty, disruption and transformation, the core to create value and view resilience is more than just a thing. It’s a professional imperative.

 

 

 

“As actuaries, our role goes beyond analysis. It extends to leadership, stewardship and innovation.

 

 

 

“Our profession is a calling to view resilience, to equip businesses and institutions to thrive and maintain integrity and change.

 

 

 

“Over the next two days, we’ll explore big ideas and practical tools through sessions such as VisualTech, AI Workshop, and a lot of other engaging topics that we are blind of,” Fakoya said.

 

 

 

In his remark, Mr Babatunde Fajemirokun, Managing Director, AIICO Insurance Plc, who spoke on how Insurtech impact value creation, called for strategic partnership in driving innovation and leveraging digital platforms.

 

 

 

Other speakers at the conference reiterated the need for resilience and collaboration to meet needs within the industry and also provide a lot of cover for customers. (NAN) (www.nannews.ng)

 

Edited by Olawunmi Ashafa

Experts chart roadmap for corporate longevity
General News

Experts chart roadmap for corporate longevity

116 total views today

 

 

 

 

 

 

By Rukayat Moisemhe

 

Economic experts have urged corporate Nigeria to adopt deliberate corporate governance and sustainability strategies to drive long-term business growth and ensure continued survival.

 

 

 

They made the call on Tuesday at the PEARL Awards Nigeria 30th Anniversary Corporate Summit with the theme: ‘Built to Last: A Roadmap for Corporate Nigeria.

 

 

 

Dr Biodun Adedipe, Chief Consultant at B. A. Adedipe Associates Ltd., said Nigerian firms must build resilience and evolve into sustainable, multi-generational entities with global economic impact.

 

 

 

He noted that organisations lasting beyond 100 years, whether by design or chance, generally earn the respect of stakeholders, analysts, and the wider public.

 

 

 

Adedipe cited that in 2020, the average lifespan of a company on the S&P 500 Index was slightly over 21 years, down from 32 years in 1965.

 

 

 

This, he said, reflects a long-term trend of declining corporate longevity, which is expected to worsen further across the 2020s.

 

 

 

He added that only a few Nigerian companies have survived for 100 years or more.

 

 

 

He blamed this on poor business planning, weak capital structures, financial mismanagement, inconsistent policies, and ineffective corporate governance.

 

 

 

Adedipe stressed that Nigerian companies can endure if they make informed choices and implement them effectively.

 

 

 

He highlighted Japan as a global example, with 14 firms over 1,000 years old and 33,000 above 100 years still operating or migrated abroad.

 

 

 

He outlined seven pillars in the “built to last” sustainability framework, including visionary leadership, good governance, and access to long-term capital.

 

 

 

Others are operational resilience, digital innovation, succession planning, human capital development, and alignment with Environmental, Social and Governance (ESG) principles.

 

 

 

He maintained that by following these principles, many Nigerian companies can be built to last for decades or even centuries.

 

 

 

Mr James Faleke, Chairman, Finance Committee, House of Representatives, said Nigeria’s economic future also hinges on corporate strength and resilience.

 

 

 

Represented by Ben Faleke, Managing Director of Takol Ltd., he stressed the importance of governance, innovation, and long-term strategies in institutions.

 

 

 

He said lasting businesses go beyond founders, short-term profits, or market cycles, marking true success in today’s competitive world.

 

 

 

The lawmaker assured that the National Assembly is committed to fostering a stable, predictable, and enabling fiscal environment for businesses.

 

 

 

He noted the House is driving reforms for fiscal transparency, simplified tax systems, and incentives supporting long-term investment.

 

 

 

Faleke said they are working to improve ease of doing business and enhance corporate governance through updated regulatory frameworks.

 

 

 

He stressed that thriving companies require strong legislative, judicial, and regulatory institutions that are themselves built to last.

 

 

 

The lawmaker commended PEARL Awards Nigeria for its three-decade dedication to corporate transparency and recognising performance in the capital market.

 

 

 

He said the public presentation of PEARL’s publication, “Winning Strategies of Nigeria’s Corporate Giants,” would benefit entrepreneurs, policymakers, and researchers.

 

 

 

Mr Tayo Orekoya, President of PEARL Awards, said the event aims to objectively recognise excellence in Nigeria’s capital market through data-driven assessments.

 

 

 

He emphasised that integrity, fairness, and objectivity have remained the PEARL Awards’ foundation, guided by a board of highly credible professionals.

 

 

 

Orekoya explained that the awards have evolved beyond three original categories, adding initiatives to further support Nigeria’s capital market.

 

 

 

He said: “Only by God’s grace, with bold vision, tenacity and resilience, have we endured economic challenges to reach this milestone.”

 

 

 

He described the summit as a gathering of top business leaders exploring strategies for corporate longevity in Nigeria.

 

 

 

Orekoya reaffirmed PEARL Awards’ commitment to expanding its influence across Africa, saying the vision remains strong and will be fulfilled. (NAN) (www.nannews.ng)

 

Edited by Kamal Tayo Oropo

Bi-Courtney commends NAN’s professional excellence
General News

Bi-Courtney commends NAN’s professional excellence

111 total views today

 

 

 

 

 

By Itohan Abara-Laserian

 

 

Bi-Courtney Aviation Services Ltd. has commended the News Agency of Nigeria (NAN) for its professional excellence and leadership in news dissemination across Africa.

 

NAN reports that the firm operates the Murtala Muhammed Airport Terminal Two (MMA2) in Lagos.

 

It is also a leader in transforming Nigerian aviation infrastructure, pioneering a high-standard PPP model, modernising airport services, and expanding into regional cargo and flight services

 

The Chief Operating Officer of Bi-Courtney, Mr Remi Jibodu, gave the commendation on Wednesday during the presentation of four air conditioning units to the agency to support its multimedia operations at the Lagos office.

 

 

Jibodu, who led his management team to NAN, said Bi-Courtney identified with excellence and resilience, values the agency embodies—hence the collaboration.

 

“‘I just want to say that we are very happy to donate these items to the News Agency of Nigeria, in recognition of the excellence and resilience you demonstrate, which align with our own core values,’’ he said.

 

 

 

 

 

“We believe very strongly that this will help in developing the news, particularly to improve the studio and the quality of news from the studio.

 

“We believe this will really encourage the people that are using it; I am talking about the journalists, to also bring comfort to everyone,” he said.

 

Jibodu expressed belief that the donation would propagate the growth of journalism in Nigeria.

 

A Deputy Editor-in-Chief at NAN, Mr Kevin Okunzuwa, on behalf of the Managing Director, Mr. Ali M. Ali, expressed appreciation to Bi-Courtney for the generous gesture.

 

Okunzuwa noted that the donation would not be taken for granted, especially as it would provide comfort for reporters and support the agency’s efforts in projecting Nigeria’s image positively to the global community.

 

‘They say no one can blow your trumpet better than yourself, and no agency can tell the Nigerian story to the world better than NAN.

 

“Working in a comfortable environment, which your donation has helped to enhance, makes a real difference.

 

“So, I sincerely thank the Bi-Courtney management for this thoughtful contribution.

 

“I also want to assure you that this partnership will be sustained and deeply valued for a long time to come,” he said (NAN)www.nannews.ng)

 

Edited by Kevin Okunzuwa

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