Business
Insurance Firms Move To Promote Local Content
The Federal Com
missioner for Insurance, Mr. Fola Daniel, has inaugurated new body for the insurance industry technical management board of the Energy and Allied Risks Insurance Pool of Nigeria(EAIPN) to promote local content in oil and gas businesses.
Speaking to newsmen in Abuja on Friday after the inauguration, Mr. Fola Daniel said the insurance pool will address some of the challenges faced by insurance companies in oil and gas underwriting in the country.
He said the pool was an effort by the Nigerian Insurance Industry to retain capacity in oil and gas underwriting, curb capital flight and grow the local market in energy and allied risks underwriting.
Also speaking, Chairman of the pool Board, Mr. Woke Oshin said the pool currently has 14 subscribers who have contributed 40 percent of their subscribed lines amounting to $4 million.
Oshin expressed optimism that other insurance companies that have expressed their interest in the pool will subscribe to join the EAIPN.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
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.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
-
Nation23 hours agoHYPREP Probes Overhead Tank Collapse …Plans To Supply Water In 65 Ogoni Communities
-
Sports18 hours ago50th Anniversary: Over 150 Golfers, 11 Countries Set For Ikoyi Ladies Golf Tourney
-
News1 day agoRSG CHARGES JOURNALISTS TO SHOWCASE GOVT PROGRAMMES
-
Editorial23 hours agoCertificate Forgery, Loss Of Public Trust
-
Business24 hours agoNCDMB Council, Mgt Seek Improvements In Corporate Governance, Performance
-
News19 hours agoHYPREP Probes Overhead Tank Collapse
-
Opinion23 hours agoTradition or idolatry? The Debate Over Nhe-Ajoku
-
Sports18 hours agoNPFL : Finidi Praises Players Over Draw Against Insurance
