Business
Expert Lists Insurance Penetration Hiccups
An insurance expert, Mr Paul Ibe, has said that the factors that hindered insurance penetration in the country are poverty and ignorance on the benefits of the scheme.
Ibe, the Head of Technical, Unity Kapital Insurance, told newsmen in Abuja recently that many Nigerians were ignorant of the benefits of taking up insurance policies.
According to him, the prevalent level of poverty in the country also makes people prioritise their needs, hence striking insurance first whenever there is shortage.
He said when there was prosperity and people had the basic necessities of life, they would consider buying insurance policies.
Ibe stated that insurance was very key and people needed to be educated on its importance both to an individual and to the country’s economic growth.
He said, “regulators and insurance operators needed to do more awareness on insurance education by letting people know through communications, through electronic and print media about insurance.
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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.”
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