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Expert Tasks Nigerians On Insurance Policies

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11 years ago

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Nigerians have been advised to purchase insurance policies as is the practice in civilized climes of the world.
Speaking to The Tide in Port Harcourt recently a renowned insurance expert, Prof. Joseph Irukwu, said only between 10 to 15 percent of adults in Nigeria are insured whereas in Europe and the Americas between 90 and 95 per cent of their citizens are insured.
Irukwu said that there is a lot to be done by all the stakeholders in the insurance industry in Nigeria especially the Nigerian Council of Registered Insurance Brokers (NERIB) and the Nigerian Insurance Association (NIA) to improve on the marketing of insurance policies in order to remedy the trend.
He said that there is still a large space left for investors to invest in the insurance sector to ensure that there is increase in the volume insurance business.
The insurance guru said that with such increase investment in the insurance  industry there would be more funds and opportunities  of anyone who decides to invest in insurance.
He said the role of the insurance industry cannot be overemphasised in the nation’s economy, pointing out that the insurance industry has played a key role to sustain the nation’s economy.
Irukwu urged the generality of Nigerians to always ensure they patronize the services offered by the insurance policies against unforeseen risks in their lives and businesses.
Meanwhile, the Nigeria Insurers Association (NAI) has urged the Federal government to protect the huge investment made on the nation’s transportation, power, Ports terminals and energy subsectors.
The Director General of the Association, Mr. Sunday Thomas  stated this in Akwa Ibom State at the 25th Anniversary celebration of Anchor Insurance on Friday.
Thomas said billions of dollars are spent every year for improving transportation, power, ports and terminals and energy capabilities by the government, yet the insurance sector has been left with no significant roles in insuring such investments.
He said that the Nigerian Insurance Industry has a key role to play in contributing to the nation’s economic growth as a risk transfer and management mechanism.
Thomas said that the sector is a growth driver for other sectors of the economy and a huge potential for direct and indirect labour employment.
The DG said the insurance sector is a provider of long term capital investment needed for infrastructure projects to promote competitive, healthy and robust national economy.

 

Philip Okparaji

Former PHCCIMA President and FOSSCCIMA President, Prince Billy Gillis Harry, representing NACCIMA President, Alhaji Mohammed Baduru, (middle) cutting a tape for official opening of 2014 Trade Fair recently at Isaac Boro Park Port Harcourt. With him are President PHCCIMA, Engr. Emeka Unachukwu (right), former president PHCCIMA, Dr. Vincent Furo 2nd (left) and Chief Nabil Saleh (left). Photo: Egberi A. Sampson

Former PHCCIMA President and FOSSCCIMA President, Prince Billy Gillis Harry, representing NACCIMA President, Alhaji Mohammed Baduru, (middle) cutting a tape for official opening of 2014 Trade Fair recently at Isaac Boro Park Port Harcourt. With him are President PHCCIMA, Engr. Emeka Unachukwu (right), former president PHCCIMA, Dr. Vincent Furo 2nd (left) and Chief Nabil Saleh (left). Photo: Egberi A. Sampson

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Kenyan Runners Dominate Berlin Marathons

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5 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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5 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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5 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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