Business
Expert Seeks More Micro Insurance Products
A financial expert, Dr Biodun Adedipe, last Thursday urged insurance practitioners to develop more micro insurance products to increase activities in the industry.
Adedipe told newsmen in Lagos that the local insurance industry should emphasise inclusive growth by reaching out to the grassroots.
He said that financial inclusion would be achieved by focusing more on new micro insurance products.
According to him, the enforcement of the “No premium, no cover” policy of the National Insurance Commission NAICOM would help to improve ethical standards in the insurance sector.
Adedipe, the Chief Consultant in Biodun Adedipe & Associates, said that enforcement of the policy would sanitise the industry and give insurance marketers more room to operate.
According to him, payment of claims will be less cumbersome under NAICOM’s new policy of “No premium, no cover”.
“Non payment for a loss suffered under a policy will now be a thing of the past, “ he said.
He said that insurance agents were not exploring the business potential in the grassroots for their financial gains.
Adedipe enjoined insurance practitioners to be up to date with the market dynamics and follow macroeconomic growth patterns as well as be attentive to public policy statements concerning the industry.
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Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
