General News
Analysts Call for Mergers and Acquisition Among Insurers
With the recent Central Bank of Nigeria (CBN) directive that universal banking would be phased out soon, reprieve appears to be on the way of insurance companies who have been apprehensive about their capacity to excel. However while this may be good omen for the stand alone insurance companies, industry watchers opined that the best weapon available to insures is for further recapitalization and more mergers and acquisition. This, according to them, will reposition the industry for greater strength and ability to absorb the post consolidation challenges.
Mr. Wole Olajide, veteran insurance practitioner opined that the increasing foray of banks into insurance, though an indication of public confidence on the industry, an indication of the industry’s viability, the unfolding situation is a clarion call on the insurers to put their house in order.
According to him, the capital base of banks which brought the number of banks to 25, from its weedy and shaky number was what earned it the vast advantage while calling for a forceful merger by operators as a way of consolidating on on-going reforms in the industry.
Olajide warned that if this is not done, the little gains that the consolidation has achieved would be rubbished, adding that the insurance firms profile may not only dwindle but may even be swallowed by the banks which will emerge stronger in their strict adherence to core banking services.
He suggested that rather than having as many as fifty insurance companies, mmany of which are only maintaining big presence in selected cities, insurers should merge to a maximum of ten mega insurers of world ranking.
In pulling resources together, analyst believes that capacity building should be given accelerated boost. This would reposition them to compete effectively.
However, analysts believe that one corresponding area which operators need to focus on is capacity building. Their position is that given the rapid development which the industry has witnessed, enhanced capacity building, may be one of the greatest challenges facing its development.
Joseph Ako, insurance consultant and trainer stated that the rapid growth in the sector needs to be complemented by tools for improved fortunes. He therefore, tasked operators to embark on capacity building through sponsorship of seminar, conferences and other areas that would grow the industry further. He called for an All stakeholders summit with a view to fashioning out sustainable policies for the overall interest of the industry. He stated that there was a greater strength in pooling resources together than having insurance companies who cannot be among the top insurers in the world.
He commended the organizers of the Insurance Future Summit held in Abuja but cautioned that while it may be expedient to sponsor such for a, it was also desirable to evolve increased “home grown” conferences which will put the local operators on their toes.. Ako also called on operators to be more involved in relevant community sponsorship as part of their corporate social responsibility. He explained that the insurance sector has not been very prominent in this regard, a situation which as placed insurance business as superficial before the public who correspondingly view their services as undesirable.
According to industry watchers, the new financial strength of operators makes it mandatory for more branches to be established. If new branches are thus set up to match the growth, they content that the situation calls for customized training and development program which will not only make operators to be attuned to current market trends but also make their services to meet the growing demands of the insuring public.
He advised operators to aggressively pursue capacity building as it remains the only weapon needed to sustain the accompanying increased returns on investment, enhanced profit margins and strategic service delivery.
Corroborating, The insurance consultant challenged operators to embrace the dynamic innovations and service delivery platform of the banks. Unless this is done, he said, banks may swallow up 50percent of insurance core services, especially against the background of rising acquisition of insurance firms by banks and the existing incursion of banks into some traditional insurance businesses.
To be able to manage the huge demands, which the post-consolidation will herald in the sector; emphasizing that capacity building poses a big challenge in meeting sustainable capital adequacy, human resources development and upgrading of information Communication Technology (ICT).
Still on strategic alliances, this analyst explained that such would allow for uniform services such as the one being rendered by banks presently through various services such as e-banking.
General News
Nigeria First Policy: FG Reaffirms Galaxy Backbone as ICT Provider

Federal government , through the Office of the Secretary to the Government of the Federation (OSGF), has issued a circular reaffirming its commitment to leveraging the substantial investment in the National Information Communications Technology Infrastructure Backbone (NICTIB), for the benefit of Ministries, Departments and Agencies (MDAs).
Chidi Okpala, spokesperson for Galaxy Backbone Ltd, disclosed this in a statement on Monday.
The directive, issued in line with the Nigeria First Policy, endorsed Galaxy Backbone Limited, as the designated provider of ICT infrastructure for federal government institutions.
Commenting, Professor Ibrahim Adeyanju, managing director, Galaxy Backbone Ltd, reiterated that the agency is well positioned to actualise the Nigeria First Policy in the country’s ICT sector.
“We have repositioned our organisation in such a way that the MDAs experience the quality, reliability, and innovation of our services, and they can see us as a partner in their digital transformation journey.
“Our pledge is to listen, collaborate, and provide tailored digital infrastructure solutions that meet the unique needs of each agency, while ensuring Nigeria’s data remains safe within our borders,” he said.
According to him, federal government MDAs are expected to accelerate Nigeria’s digital transformation and contribute directly to national economic growth through the implementation of the Nigeria First Policy.
Galaxy Backbone Ltd was established by the Federal Government with the core mandate of ensuring data sovereignty through a centralised e-government platform that offers secure connectivity and related ICT services.
General News
FG Reaffirms Galaxy Backbone as Its ICT Infrastructure Provider Under Nigeria First Policy

The Federal Government, through the Office of the Secretary to the Government of the Federation (OSGF), has issued a circular reinforcing its commitment to leveraging the substantial investment in the National Information Communications Technology Infrastructure Backbone (NICTIB) for the benefit of Ministries, Departments, and Agencies (MDAs).
This directive, in line with the Nigeria First Policy, endorses the use of Galaxy Backbone Limited (GBB) as the designated provider of ICT infrastructure for Federal Government Institutions, covering IP-network services, data centre hosting, and related infrastructure solutions.
GBB was established by the Federal Government with the core responsibility of ensuring data sovereignty through a centralized e-government platform that offers secure connectivity and related ICT services. Over the years, the organization has consistently invested in upgrading its capacity, achieving multiple international certifications and recertifications that position it as a provider of world-class, secure, and reliable technology services.
With this renewed endorsement, GBB is also officially positioned as the Government Data Exchange Platform and the interoperability layer for the nation’s Digital Public Infrastructure implementation, reinforcing its role as the body that coordinates, manages, and integrates all federal digital infrastructure and services, ensuring they comply with Nigeria’s data sovereignty goals and work harmoniously as part of the nation’s digital public Infrastructure.
While this directive ensures compliance with the Nigeria First Policy, GBB emphasizes that its mission is to deliver excellence through building trust and collaboration with Ministries, Departments and Agencies (MDA). Federal Government Institutions currently hosting data abroad are encouraged to migrate to GBB’s secure platforms, confident in the assurance of improved service delivery, enhanced security, and alignment with global best practices.
“We have repositioned our organisation in such a way that the MDAs experience the quality, reliability, and innovation of our services and they can see in us as a partner in their digital transformation journey,” said Professor Ibrahim Adeyanju, Managing Director/CEO, GBB.
He further reiterated; “Our pledge is to listen, collaborate, and provide tailored digital infrastructure solutions that meet the unique needs of each agency, while ensuring Nigeria’s data remains safe within our borders.”
GBB’s commitment is rooted in service excellence, security, and innovation; principles backed by its ISO certifications and global standard operating frameworks. This renewed collaboration between GBB and MDAs is expected to accelerate Nigeria’s digital transformation and contribute directly to national economic growth.
General News
Virtual Reality in Healthcare: Nigeria’s Untapped Opportunity for Training, Patient Care, and Medical Innovation

Across the world, Virtual Reality (VR) is proving to be far more than a gaming technology. In healthcare, it is emerging as a practical solution to train professionals, improve patient care, and speed up medical innovation. For Nigeria — where health facilities face workforce shortages, infrastructure gaps, and tight budgets — VR offers a unique chance to leapfrog into modern practices without the prohibitive cost of traditional methods.
Training Without Risk, Learning Without Limits
One of the biggest hurdles in healthcare is preparing professionals for real-life emergencies. Nursing students can read about procedures in textbooks, but they need hands-on experience to master them. VR bridges this gap by simulating real hospital scenarios: inserting an IV line, performing CPR, or managing a trauma patient — all in a safe, repeatable virtual environment.
Emergency response teams can also rehearse disaster situations, from mass-casualty events to fire outbreaks, without risking lives or resources. Instead of waiting for rare live drills, responders can practice repeatedly in lifelike VR settings until every step becomes second nature.
Across Nigeria, a new wave of innovators, like Insightful3d Studio, is developing these immersive training programs locally. By building high-quality VR modules tailored for Nigerian hospitals, universities, and teaching centers, they reduce dependence on expensive foreign programs and make advanced training more affordable.
Improving Patient Understanding and Confidence
VR isn’t just for training staff. Patients can also benefit. For example, a woman preparing for childbirth can take a guided virtual tour of a delivery room to reduce anxiety. A family deciding on surgery can visualize what the procedure involves and better understand the risks and benefits. When people clearly see what to expect, trust in medical care increases — and so do positive outcomes.
A Platform for Local Innovation
VR also allows medical teams in Lagos or Abuja to collaborate seamlessly with specialists abroad. They can jointly review virtual models of medical cases, discuss treatment options, and learn new techniques in real time. For research institutions and pharmaceutical companies, VR provides an interactive environment to test ideas faster and with fewer physical resources.
Nigeria’s Window of Opportunity
Globally, VR in healthcare is growing rapidly — projected to become a multi-billion-dollar industry this decade. Nigeria does not need to be a latecomer. With forward-thinking hospitals, training schools, and government support, the country can develop home-grown solutions instead of importing them at high cost.
Companies like Insightful3d Studio are proving that this is not futuristic wishful thinking — it is already happening. The real question is not whether VR belongs in Nigerian healthcare, but how quickly hospitals, regulators, and investors will adopt it. Early movers will improve patient outcomes, cut training costs, and set a new standard for African healthcare.
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