General News
The Scramble for Africa Insurance Market. How beneficial?
That there is a vast market in the Nigeria’s insurance market is an understatement. While it could also be said that the big insurance companies have offices across selected states in Nigeria, it is difficult to find any of the insurance companies having offices in all the 36 states of the federation. Also, the large areas of unexplored businesses are enough to sustain any operator who chose to so dare. Yet, while these large business opportunities are waiting to be explored, Nigerian insurance companies have not relented in their scramble for Africa insurance market. Industry watchers have expressed concern over the fast rate at which these firms compete to deliver quality services to the detriment of local market is being pursued. Analysts say that the present level at which Nigeria insurers are rushing to the West Coast is alarming. At the last count, twelve insurance companies have opened subsidiaries in some African countries. Many more are on the verge of doing so.
Ordinarily, it is a thing of celebration for Nigerian insurance companies to be exporting insurance services to other countries. If for anything else, it would attract the much-needed foreign exchange to the country. However notwithstanding the beauty of this exercise, concerned industry watchers opined that it may not be healthy for the needed local penetration in Nigeria.
Their argument is hinged on the fact that some of these companies’ who are making waves in these African markets have not really established their foothold on the vast markets available in Nigeria.
Some see this as a mere ego trip while others tag it the scramble for the partition of African insurance market named after the historic partition of Africa.
Industry watchers believe that if the present scramble is not checked, Nigeria insurance companies may neglect the local market which needs full attention to rise to the level of the developed markets and accelerated development of foreign markets at the expense of the local one.
The question one may ask is, are some of the companies embarking on this scramble for African market well positioned for it? Of what benefit is a local insurer who has less than ten branches nationwide setting up subsidiaries in the West Coast?
According to concerned analysts, one of the main reasons why these companies are going abroad is because they want to meet the shareholders expectations.
They stated that some of these investors are so eager for a quick return on investments that waiting on the local market alone may not be enough to meet their demands.
Anther school of though believes that insurance is about risk taking so to some of these companies, there is need to explore any available opening anywhere whether for pure or speculative reasons.
At the moment, not less than 12 insurance companies have set up offices in the West Coast. Some have even gone as far as to the Far East and North African countries while more are exploring opportunities to join the band wagon train.
Out of the recapitalized insurance companies in Nigeria, a sizeable number have opened subsidiaries in Ghana, Liberia, Gambia, Uganda, Sierra Leone, Algeria, Tunisia, Egypt, Tanzania, Sao Tome & Principe, Conakry, among others..
Analysts are of the opinion that the actions of these companies are merely borrowing a leaf from similar moves by banks soon after the consolidation of Nigerian banks. However, some hold the opinion that the banks on such ego trips have good reasons to do so, having already consolidated their branch networks before embarking on it.
Industrial and General Insurance (IGI) is one of Nigeria’s biggest insurers. While acknowledging the fact that it has done so well on the local scene, the insurance giant is reputed to now have so much presence on the global scene that it has almost become a household name. In 2005, IGI successfully acquired 60per cent government of Uganda’s stake in National Insurance Corporation, thus becoming the first insurance company in Nigeria to achieve continental outreach.
IGI also has 60per cent controlling shares in Network Assurance Limited, Ghana, 60per cent holding in Gamstar Insurance in Gambia.
In like manner, IGI became the largest shareholder with 35percetn equity holding in SONARWA S.A., Rwanda. It also has significant presence in Sierra Leone and Tanzania.
Mr. Anthony Aletor, group managing director of Capital Express Insurance, had said at a forum that insurance companies should strive towards a good mix of their revenue base. One of the approaches to this, he said, is found in subsidiary operations which off-shore investments provide.
Supporting the adventure, he had said that what it portends is similar to the action of European Countries in the past to scramble for the African market because of the obvious advantages they stood to gain.
His support for off-shore investment also found anchor in the pattern of such investments which are spread across the difficult regions. The argument therefore is that it would be difficult for the investments to be uniformly plagued by adverse effects especially against the backdrop of the different socio-political and economic factors.
Another company that has also shown significant presence off-shore is Continental Reinsurance. According to Mr. Adeyemo Adejumo, managing director of the Company, Continental Re which is based in Nairobi, Kenya, is positioned to serve as a reinsure to many other countries outside Kenya. These countries, he said are Ethiopia, Uganda, Rwanda, Mozambique, Zimbabwe and Sudan.
As earlier said, the need to meet the companies obligations to shareholders inform some of these actions Staco Insurance Companies is among the young and dynamic ones venturing into the West Coast with a significance presence in Sierra Leone.
Mr. Fidelis Ako, managing director of Trinity Consulting Group , in a reaction challenged the local insurers to research not ways of breaking the insurance poor penetration leveling Nigeria, rather than opening subsidiaries abroad. He argued that if the insurance culture in those countries providing gat traction to Nigeria is weak, no reasonable company would invest in them.
He particularly frowned at the situation where some of these countries are not as large as one stake in Nigeria. “The size of some of these countries are smaller than one state in Nigeria which goes to show that it is the culture put in place by the people, the operators and the government at large” he said. Rather than embarking on ego tripping. Ako advised stakeholders to individually and collectively research into how to raise the aware level such that it becomes a necessity for every Nigerian to have insurance policy.
Recently, NICON Insurance opened a subsidiary in Sao Tome and Principe. According to Barrister Jimoh Ibrahim, group chairman, the venture into the tiny Island Country was born out of business boost .Industry watchers believe that one thing that seems to give added strength to this scramble is the poor exchange rate of the naira and the sliding economy. What do we stand to gain if our local insurers are becoming household names in other countries while they are not even known in many of the local government even in the major states of Nigeria. As the Nigerian insurance companies take us back to the legendary scramble for partition of Africa insurance markets, stakeholders are watching with keen interest to know how the action will benefit the nation’s fragile market.
General News
NCDC Says Lagos, FCT, Others on High Ebola Alert

Nigeria Centre for Disease Control and Prevention (NCDC) has placed Lagos, the Federal Capital Territory and several other states on high Ebola alert following the outbreak of the deadly Bundibugyo strain of Ebola Virus Disease in parts of East and Central Africa.

In a national public health advisory issued to Commissioners for Health across the country, the agency warned that Nigeria faces a high risk of importing the virus due to increasing regional transmission, international travel, porous borders, and population movement.
The advisory, dated May 27, 2026, comes amid growing concerns over the spread of the Bundibugyo variant of Ebola, a rare strain for which there is currently no approved vaccine or specific treatment.
States classified by the NCDC as high-risk include Lagos, the FCT, Rivers, Kano, Enugu, Borno, Akwa Ibom, Cross River, Taraba, and Adamawa because of their international airports, seaports, border routes and high human traffic.
“The immediate objective of our national preparedness and readiness efforts is to ensure that every State and the FCT can reasonably detect, contain, and respond swiftly to any suspected case while protecting health workers and sustaining essential health services,” the NCDC stated.
The agency disclosed that although Nigeria has not recorded any confirmed case, a dynamic risk assessment conducted after the outbreak was declared a Public Health Emergency of International Concern showed that the danger of importation into Nigeria remains high.
According to the NCDC, 1,077 suspected cases and 247 deaths have already been reported in Uganda and the Democratic Republic of Congo, with a fatality rate of 24.6 per cent.
It added that the outbreak has also triggered international concern, with suspected cases reportedly identified in India, while Canada announced temporary restrictions on travel applications involving residents of Uganda, DRC and South Sudan.
Uganda has also reportedly introduced border closure measures to contain the spread.
The NCDC stressed that the Bundibugyo strain differs from the Zaire Ebola strain, which existing vaccines and antibody treatments primarily target.
“The current Bundibugyo virus outbreak has no licensed vaccines or approved targeted therapeutics,” the advisory warned.
Health officials also cautioned that Ebola symptoms could initially resemble malaria, Lassa fever, or other common illnesses, making early detection more difficult.
“Health workers must not wait for bleeding before suspecting Ebola in any patient with compatible symptoms and relevant travel or exposure history,” the agency said.
The NCDC noted that Ebola is not airborne and spreads mainly through direct contact with infected blood, body fluids, contaminated materials, or infected animals.
As part of emergency preparedness measures, the agency said its National Emergency Operations Centre has already been activated in alert mode to coordinate nationwide response efforts.
State governments were directed to immediately activate Ebola preparedness structures, identify isolation centres, intensify surveillance at entry points, equip frontline health workers with personal protective equipment and begin public sensitisation campaigns to counter panic and misinformation.
The agency also asked states to submit readiness reports within 72 hours.
Nigeria’s renewed Ebola alert has revived memories of the country’s successful containment of the virus during the 2014 outbreak, when an infected Liberian-American traveller, Patrick Sawyer, arrived in Lagos and exposed dozens of people before authorities intervened.
At the time, public health experts feared a catastrophic outbreak in Lagos due to its dense population and status as one of Africa’s busiest commercial hubs.
However, rapid contact tracing, aggressive isolation measures, emergency coordination and public awareness campaigns helped Nigeria stop the spread within months.
The World Health Organisation (WHO) later praised Nigeria’s response as one of the most effective Ebola containment efforts in Africa.
The latest alert is considered particularly serious because the Bundibugyo variant remains less understood than the more common Zaire strain.
Unlike the Zaire strain, which has approved vaccines and treatments developed after previous West African outbreaks, the Bundibugyo strain currently lacks licensed countermeasures.
Public health experts have long warned that Nigeria’s heavy air traffic, extensive land borders, crowded urban centres and overstretched healthcare system leave the country vulnerable during regional disease outbreaks.
The warning also comes as Nigeria continues to battle multiple infectious disease outbreaks, including Lassa fever, cholera, and meningitis in several states, increasing pressure on the healthcare system.
Health authorities are now urging Nigerians to remain calm, avoid rumours and fake cures, maintain proper hygiene and report suspected symptoms early as surveillance and preparedness measures intensify nationwide.
General News
How Enugu State is using GovTech to Fix its Housing and Land Administration

The ongoing transformation at Enugu State Housing Development Corporation (ESHDC) is gradually positioning the corporation as one of the strongest examples of institutional reform and modern public service delivery in Enugu State.

With the recent launch of its digitized land transaction and documentation system, ESHDC has taken a major step toward improving transparency, operational efficiency, accountability, and investor confidence within the housing and land administration sector.
The reform initiative, introduced as part of Governor Peter Mbah’s broader governance modernization agenda, is expected to significantly improve land documentation processes, digital payments, workflow coordination, property verification, and the issuance of Certificates of Occupancy (C-of-O), while reducing delays and inefficiencies previously associated with manual systems.
Beyond technology, however, the transformation reflects a deeper institutional shift focused on building systems that work more efficiently for the people while strengthening public trust in government operations.
One of the personalities increasingly associated with this evolving reform culture is Adenike Okebu, whose involvement in key accountability, audit, and operational restructuring processes within the corporation continues to attract attention.
Her professional background spans EY Nigeria, Deloitte, BUA Group, Platform Capital, and Pinnacle Oil and Gas, giving her a rare combination of Big Four audit rigour, corporate financial governance experience, and frontline public sector reform capability.
Her growing public profile is increasingly associated with helping governments and organizations improve revenue governance systems, strengthen financial transparency, optimize revenue collection structures, detect and remediate revenue leakages, and produce credible financial reporting capable of supporting both domestic accountability and international investor engagement.
Industry observers note that her contribution to audit-driven reforms and operational restructuring within ESHDC helped create a more organized and transparent institutional framework capable of supporting the corporation’s digital migration and modernization goals.
The impact of the reforms is already becoming visible through improved workflow systems, better records management, increased operational coordination, and stronger confidence in the corporation’s administrative structure.
For many stakeholders, ESHDC is now becoming more than a housing institution. It is emerging as a model of institutional modernization; a platform demonstrating results; a reflection of transparent governance, and a symbol of operational reform and accountability.
At the same time, Adenike Okebu’s increasing visibility within the transformation narrative is positioning her as a modern governance advocate and a public-sector personality associated with institutional reform, measurable impact, and people-centered leadership.
As Enugu State continues to push its broader reform agenda, the ESHDC transformation story is gradually reinforcing a growing perception that sustainable governance is built not only on policies, but on accountability, transparency, operational efficiency, and institutions capable of delivering measurable results.
General News
How MTN and SMEDAN are Closing Nigeria’s $158 Billion Funding Gap for 40 Million Small Businesses

Nigeria’s mySMEville platform is becoming a key driver for Africa’s digital economy by closing the financial and skills gaps holding back the country’s nearly 40 million MSMEs. This was highlighted on Tuesday, May 12, 2026, during a visit hosted by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to the MTN head office by Angola’s INAPEM, the National Institute of Support for Micro, Small and Medium Enterprises. The delegation was led by its Chairman, Mr. Bráulio Augusto.

L-R: Njideka Jack, General Manager Enterprise Marketing, MTN Nigeria; Dr. Charles Odii, Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); Lynda Saint-Nwafor, Chief Enterprise Business Officer, MTN Nigeria; Bráulio Augusto, Chairman of The Board of Directors for National Institute for the Support of Micro, Small, and Medium Enterprises (INAPEM) and Omowunmi Olatunbosun, Head, SME Segment, MTN Nigeria, at the mySMEville Angola INAPEM visit to MTN and SMEDAN, at MTN Plaza, Ikoyi, Lagos on Tuesday, May 12, 2026.
The delegation was focused on studying the success of the MTN and SMEDAN mySMEville partnership. The initiative targets four core areas: information, funding, infrastructure, and markets, to support a sector that contributes 48% of Nigeria’s GDP but remains largely underserved.
mySMEville moved quickly from a strategic idea (the MOU was signed in November 2025) to a continental success. After a pilot in Lagos onboarded 200 businesses in December, the platform rapidly grew to include over 2,600 businesses nationwide by May 2026.
This rapid expansion is essential given that 80% of Nigerian SMEs are currently informal and only 3.9% access formal credit, leaving a staggering $158 billion annual financing gap.
Emphasising the strategic necessity of this collaboration, Lynda Saint-Nwafor, Chief Enterprise Business Officer at MTN Nigeria, stated: “At MTN Business, our ambition is clear: to serve as the leading technology partner enabling Africa’s enterprises to scale, compete, and create sustainable impact. We are intentionally building platforms that matter, solutions that scale, and ecosystems that accelerate inclusive economic growth across the continent.
“This is why initiatives such as mySMEVille are strategically important to us. SMEs remain the backbone of our economy, driving innovation, creating jobs, and strengthening national competitiveness. Through our partnership with SMEDAN, we are focused on unlocking the full potential of these businesses by providing access to guidance, digital tools, market opportunities, financing ecosystems, and workforce support.” Supporting this view, Dr Charles Odii, Director-General of SMEDAN, said that the initiative represents the future of business on the continent, asserting that “What we are witnessing here is a formidable force for economic progress. Through this deliberate Public-Private Partnership, Nigeria is aligning its public and private sectors to lead the way for Africa.”
Olatunbosun Agosu, Senior Specialist, ICT Segment Management, MTN Business demonstrated with a live demo, how the mySMEville platform, a joint effort by MTN and SMEDAN, is the “one-stop orchestrator” for Nigeria’s 40 million small businesses.
The platform is an intuitive, centralised platform that bridges the $158 billion funding gap and digital divide. By aggregating diverse partners, it gives entrepreneurs direct access to funding, infrastructure (like solar power), e-commerce tools, and essential growth information.
INAPEM’s Chairman, Mr. Bráulio Augusto, confirmed that Angola intends to adapt the framework to its own economic reality. Reflecting on the visit, the Chairman stated during his remarks, “The key thing I learned here is the strength of the public and private sector partnership. mySMEville clearly shows what’s possible, and we will absolutely use these insights as we adapt this model back home in Angola.”
Looking ahead, the partnership aims to reach a monumental target of 5 million MSMEs through the mySMEville Academy, e-commerce integrations, and national policy advocacy. As the platform continues to grow into a “one-stop shop” for resources, it’s clear that Africa’s future depends not on luck, but on the smart, collaborative work of partners like MTN and SMEDAN.
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