Politics
Insurers Nervous Over Prospect Of Romney’s Victory
You’d think health insurance CEOs would be chilling the bubbly with Republican Mitt Romney’s improved election prospects, but instead they’re in a quandary.
Although the industry hates parts of President Barack Obama’s health care law, major outfits such as UnitedHealth Group and BlueCross Blue Shield also stand to rake in billions of dollars from new customers who’ll get health insurance under the law. The companies already have invested tens of millions to carry it out.
Were Romney elected, insurers would be in for months of uncertainty as his administration gets used to Washington and tries to make good on his promise repeal Obama’s law. Simultaneously, federal and state bureaucrats and the health care industry would face a rush of legal deadlines for putting into place the major pieces of what Republicans deride as “Obamacare.”
“There are a lot of dollars and a lot of staff time that’s been put into place to make this thing operational,” G. William Hoagland, until recently a Cigna vice president, said of the health care law.
Insurers “are not going to be out there saying, ‘Repeal, repeal, repeal,’” said Hoagland, who oversaw public policy at the health insurance company. “They will probably try to find the particular provisions that cause them heartburn, but not throw the baby out with the bath water.”
Likewise, America’s Health Insurance Plans, the major industry trade group, isn’t talking about what its members are telling the Romney campaign, though informal discussions are under way through intermediaries. Insurers like Romney’s plan to privatize Medicare, and some point out that it looks a lot like Obama’s approach to covering the uninsured.
Robert Laszewski, an industry consultant and blogger, says the tension is becoming unbearable.
“I spend a lot of time in executive offices and board rooms, and they are good Republicans who would like to see Romney win,” said Laszewski. “But they are scared to death about what he’s going to do.”
There is no consensus among Republicans in Congress on how to replace Obama’s law, much less anything like a bipartisan middle ground on health care, a necessity if the House retains its GOP majority and the Senate remains in Democratic hands.
In contrast, Obama’s law is starting to look more and more like a tangible business opportunity. In a little over a year, some 30 million uninsured people will start getting coverage through a mix of subsidized private insurance for middle-class households and expanded Medicaid for low-income people. Many of the new Medicaid recipients would get signed up in commercial managed care companies.
A recent PricewaterhouseCoopers study estimated the new markets would be worth $50 billion to $60 billion in premiums in 2014, and as much as $230 billion annually within seven years.
“I think it’s limited what they’ll be able to accomplish in terms of repeal,” said Coffina. “We have to remember that Romney implemented very similar legislation” as governor of Massachusetts.
If Romney wins he’s more likely to reduce the scope and scale of the law, Coffina added. Possibilities include delaying all or parts of the new coverage, particularly a Medicaid expansion that GOP governors don’t like.
The industry has three items in particular it wants stripped out: cuts to Medicare Advantage private insurance plans; a requirement that insurers spend 80 percent of premiums on medical care or rebate the difference to their customers; and new taxes on insurance companies. But CEOs don’t share the visceral objection that many Republicans have to a bigger government role in health care.
Industry executives “are Republicans in the sense that they’re worried about the bottom line and they want to retain private sector involvement,” said Hoagland, the former Cigna vice president. “But some of their bottom line is now driven by Medicare and Medicaid. So it’s not like they’re red or blue. It’s more like purple.”
Politics
Tinubu Swears In New INEC Chairman
 
														President Bola Tinubu, yesterday in Abuja, swore in the sixth substantive chairman of the Independent National Electoral Commission (INEC), Prof. Joash Ojo Amupitan (SAN).
At the ceremony held at the State House Council Chamber, President Tinubu urged the new INEC Chairman to serve with integrity and beyond reproach.
“Your nomination and the subsequent confirmation by the Senate are a testament to your capacity and the confidence reposed in you by both the executive and the legislative arms of government.
“This significant achievement marks the beginning of a challenging, yet rewarding journey, and I trust that you will approach your responsibility with the highest level of integrity, dedication and patriotism,” the President said.
President Tinubu noted that the country had been on a path of democratic governance and learning since 1999, with notable achievements in the strengthening of various institutions.
“Our democracy has come a long way in 25 years. We have consolidated and strengthened our democratic institutions, particularly in electoral systems, through innovations and reforms.
“We have learned a great deal along the way and have improved significantly from where we were many years ago. We must now remain committed to the principles that underpin democracy in a complex and multifaceted society.
“The electoral process is a vital part of a democracy that grants the people the exclusive right to choose their leaders and shape their future. To ensure that our democracy continues to flourish, the integrity of our electoral process must be beyond reproach,” he added.
President Tinubu stated that the governorship election on November 8, 2025, in Anambra State will serve as a litmus test for the new leadership of the electoral commission.
“It is important that our elections are free, fair and credible. We must consistently improve our electoral process, addressing the challenges of yesterday and innovating for today and tomorrow.
“To maintain public trust in the election, electoral integrity must be protected. All aspects of the process – from registration to campaigning, the media access, voting and counting should be transparent, non–violent and credible.
“No electoral system is flawless, but since elections are vital to a nation’s future, it is essential to continually strengthen electoral institutions, ensuring that they are robust, resilient and safeguarded against artificial setback.
“I therefore charge you, Prof Amupitan, as you take on this important assignment to protect the integrity of our electoral process and strengthen the institutional capacity of INEC.
The swearing-in ceremony follows the Senate’s confirmation of the INEC Chairman’s nomination on October 16.
Amupitan succeeds Prof. Mahmood Yakubu, whose tenure as INEC Chairman ran from 2015 to 2025.
The 58-year-old academic outlined his plans to reform Nigeria’s electoral system, strengthen institutional independence, and rebuild public trust in the commission at the screening.
The new INEC Chairman will assume office immediately.
Politics
Reps Ask FG To Curb Arbitrary Rent Hike Nationwide
 
														The House of Representatives yesterday urged the Federal Government, through the Ministry of Housing and Urban Development, to take urgent and decisive measures to curb the growing trend of arbitrary rent increases across the country.
The House, which described incessant rent increment as exploitative and detrimental to citizens’ welfare, took the resolution following the adoption of a motion on notice at Thursday’s plenary, sponsored by the member representing Calabar Municipal/Odukpani Federal Constituency, Cross River State, Bassey Akiba.
Recall that in May 2024, the House passed a similar resolution sponsored by Emmanuel Udo (PDP, Akwa Ibom), calling for rent control and landlords’ regulation within the Federal Capital Territory.
Udo’s motion advocated monthly rent payments and directed the House Committee on the FCT to propose measures to address excessive, reckless increments in rent by landlords.
Across the country, there are reports of a hike in rents, particularly in areas witnessing new government infrastructural projects such as roads and markets.
In the FCT, rents in some neighbourhoods have jumped from ?800,000 to ?2.5 million annually, for a two-bedroom flat; a development that has plunged many Nigerians into economic distress.
Akiba, while drumming support for the bill, argued that “The rise in the cost of living has made it increasingly difficult for families and businesses to meet rental obligations,” warning that “Unregulated rent increments threaten stability in the housing sector.”
While acknowledging landlords’ rights, he noted that tenants’ welfare must be equally protected to ensure fairness and economic balance.
Referencing Section 14(2)(b) of the 1999 Constitution (as amended), the lawmaker reminded his colleagues that the welfare and security of citizens constitute the primary responsibility of government.
He also cited the United Nations Habitat Agenda, which emphasises access to adequate and affordable housing as a basic human right.
Lawmakers present at the plenary voted in support of the motion when it was put to a voice vote by the Deputy Speaker, Benjamin Kalu, who presided over the session.
Consequently, the House urged the Federal Government to “Intensify efforts toward providing affordable housing schemes to ease pressure on the rental market and expand access to low-cost homes.”
It also directed the Federal Ministry of Housing and Urban Development to “Collaborate with state governments in implementing effective rent control policies, ensuring that public infrastructure development does not trigger unjustified rent escalations.”
The House also recommended that any rent review should not exceed 20 per cent of the existing rate, regardless of improvements in facilities.
Furthermore, the House mandated its Committee on Housing and Habitat to ensure compliance and submit a report within four weeks for further legislative action.
News
New INEC Chair Pledges Free, Fair, Credible Polls
 
														The newly sworn-in Chairman of the Independent National Electoral Commission, Prof. Joash Amupitan, SAN, has vowed to restore credibility and public confidence in the country’s electoral system, declaring his appointment as a “divine” call to serve the nation.
Speaking shortly after his inauguration by the President at the State House yesterday, Amupitan declared that his mission was clear — to deliver free, fair, and credible elections while deepening democratic values across the nation.
During his first official meeting with the commission’s directors, he stressed that achieving INEC’s mandate would hinge on teamwork, discipline, and integrity within the institution.
“Our mandate is clear, and what is it? To deliver free, fair, and credible elections that reflect the will of the Nigerian people. To achieve this, we must work together as a team,” he stated.
Addressing INEC staff and directors, the don pledged to uphold the highest standards of transparency and accountability.
“As we mark the beginning of the new chapter, I want to assure you of my commitment to upholding the highest standard of integrity, transparency, and discipline in all our operations,” he said.
Turning his attention to the upcoming Anambra State governorship election, the INEC chairman described it as a defining moment for the commission.
“The upcoming Anambra state governorship election is not just another electoral exercise. It represents a pivot opportunity for us to demonstrate our commitment to free, fair, and credible elections,” he declared.
“The eyes of the nation are upon us, and it is our duty to rise to that occasion.
“Credibility in our election is paramount, and we must ensure that every voter feels confident that their vote will count. Because that is a constitutional task. And let’s restore back the confidence of every voter that whenever there is an election, their vote will count,” Amupitan added.
The don also made staff welfare a central part of his agenda, acknowledging that the commission’s workforce plays a vital role in ensuring credible elections.
“For me, staff welfare is going to be my priority. We are going to be expecting so much from you, so your welfare is going to be a priority.
“We’ll work assiduously and tirelessly to ensure that our working conditions are conducive and that our staff are equipped with the necessary resources to excel,” the INEC chairman assured.
The chairman, accompanied by his wife, children, and senior officials from the University of Jos, expressed gratitude to his academic colleagues who celebrated his appointment.
“I was told that the whole university got shut down out of excitement. One of theirs is now given this very heckling and important responsibility of heading this commission at this time,” he said.
Despite the weight of his new responsibilities, he said he was ready for the challenge.
“The places I’ve gone to, including some national commissioners, they were saying, I don’t envy you. But let me say that I am excited about the journey ahead.
“Together, let us uphold the values of democracy and work tirelessly for the credibility of our elections,” the don said.
He concluded his remarks on a reflective note, describing his appointment as part of a divine plan.
“Maybe if I had a choice, I would say I would not come here. But from all the indications, I could see that God is moving in this country, and my coming is divine.
“If God says go, who are you to say I’m not going? I’m here because I have a role to play to ensure that a new Nigeria is born. And of course, you know, INEC has a very, very important role to play in this quest.
“God bless you all, and God bless the Federal Republic of Nigeria,” he concluded.
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