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Analysts Task Operators on Human Capacity Development

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The insurance industry is fast becoming an investor-friendly one.  Facts on ground pointedly shows that it   has witnessed accelerated development in recent times. 
The capital bases of the 50 registered insurers have soared even above the minimum capital requirement. The operators have also continued to engage in measures that will significantly help to further strengthen the operators. Interestingly too, public perception is changing, albeit slowly. However while insurance stocks have led on the floors of the Nigeria Stock Exchange (NSE) and the sector competes to be the second most active sector of the economy, the question agitating the minds of stakeholders is “can this temple be sustained”?
Industry watchers believed that the gains of these giant strides can only be sustained if human capacity is aggressively addressed.
According to him, there is need for a comprehensive manpower development, not only to pilot the existing companies but also to strengthen branch expansion and the attendant volume of demand which the growth will herald.
He stated that increased capacity building remains the only viable weapon through which the industry’s growth can be sustained.  “This is the weapon needed to sustain the accompanying increased returns on investment, increased profit margin and strategic service delivery.”
He said he was optimistic that the issue was receiving attention especially as the issue of human capital development had already been identified by some operators as crucial to its growth. The training expert explained that “insurance is a top flight business all over the world and the current trend therefore, shows that Nigeria is set to operate in this market at the highest level” He emphasized that if operating at this highest level must be realized, human capacity must be given serious consideration. 
Akode acknowledged that never before has the issue of human capacity been given attention as this period, but wondered whether the various efforts being put in place are enough to meet the expected demands on the industry He called for regular training and retraining of personnel as well as going to the secondary schools to support the enrolment of insurance subjects. 
He praised the efforts of The Nigerian Insurance Association (NIA), the Chartered Insurance Institute of Nigeria (CIIN) and the regulator, the National Insurance Commission (NAICOM) which have also done much to sensitize the operators in this vital area of human capacity building.
“Unless human capital development is addressed, there lies the tendency of losing some grounds already gained through the efforts of present professionals” he warned, adding that “human capital demand is a challenge to meeting sustainable capital adequacy, return on investment, information communication technology (ICT) and innovative people – friendly products’ packaging..
Industry watchers believe that only an enhanced human capital structure can bring about the much expected leadership role which the sector is being projected to assume shortly. Akode said the remarkable feat which banks have attained in recent times was partly due to the great emphasis which it places on training and retraining.  Analysts also are of the opinion that an enhanced human capacity would lead to a substantial growth which will impact positively on capital base, service delivery and ultimately, the possibility of leading the banks rather than the other way round.
Over time, the issue of human capital development has engaged the attention of experts. Commenting on the issue, Mr. Adeyemo Adejumo, President of the Chartered Insurance Institute of Nigeria (CIIN) had elaborated on this when he stressed that the “increasing emphasis on professionalism in insurance business and practice underscores the vital role of the human factor in driving this vital sub-sector in the right direction”.


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World Bank Blocks Social Media Comments from Nigerians over Loan Backlash

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World Bank has restricted comments on its Instagram page after thousands of Nigerians flooded the platform begging them to stop lending money to Nigeria.

World Bank Blocks Social Media Comments from Nigerians over Loan Backlash

The protest erupted after reports that President Bola Ahmed Tinubu is seeking a fresh $1.25 billion dollar loan for approval on June 26.

Some Nigerians asked the World Bank to provide more details about the purpose of the loan and how the funds would be managed.

Others said the country should reduce dependence on foreign loans and focus on improving local revenue.

The federal government has continued to defend its borrowing plans.

Officials say the funds will support economic reforms, development projects and efforts to strengthen the economy.

Nigeria remains one of the major borrowers from the World Bank in Africa, with different administrations securing loans over the years for infrastructure, social programmes and economic support.


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Lagos Plans New Cybersecurity Centre

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The Lagos State Government plans to establish a Cybersecurity Operations Centre to strengthen protection of government systems, digital services and citizen data amid rising cyber threats linked to the city’s expanding digital economy.

Tunbosun Alake, Lagos commissioner for innovation, science and technology, said the centre would help secure the infrastructure supporting online payments, e-government services, cloud platforms and technology-driven business operations across the state.

According to Alake, the facility will monitor, detect and respond to cyber threats targeting government networks, digital transactions and sensitive public data.

The move comes as Lagos accelerates its smart city agenda through investments in broadband infrastructure, digital identity systems and automated public services.

Alake said Lagos had already deployed 109 Data Protection Officers across Ministries, Departments and Agencies, which he described as the highest number among Nigerian states, to strengthen compliance with data protection regulations.

Alongside the proposed cybersecurity centre, the state also launched the Lagos Campus Network Upgrade project aimed at improving digital infrastructure within the public sector.

The upgrade is expected to improve network performance, automate internal government processes and enhance digital engagement with residents. The cybersecurity initiative follows the release of Lagos State’s cybersecurity guidelines in April.

The framework recommends measures including multi-factor authentication, vulnerability testing, encrypted backups and tighter endpoint security controls.

The guidelines align with Nigeria’s Cybercrime Act 2024, the Nigeria Data Protection Act 2023 and the National Cybersecurity Policy and Strategy 2021.

 


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LG Electronics Strengthens Household Energy Efficiency in Nigeria with Advanced Inverter Refrigerator Solutions

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LG Electronics (LG) is reinforcing its commitment to smarter and more energy‑efficient living by spotlighting its range of inverter‑powered refrigerators designed to meet the evolving needs of Nigerian households.

As electricity costs continue to rise and inflationary pressures shape consumer spending, LG’s refrigerator portfolio is positioned as a practical solution that combines dependable performance with responsible energy consumption.

Refrigerators are among the most frequently used appliances in Nigerian homes, operating 24 hours a day and accounting for a significant share of household electricity usage. LG addresses this challenge through its proprietary Inverter Compressor technology, which intelligently adjusts cooling power based on actual usage conditions.

By reducing unnecessary energy draw, the system delivers stable temperature control while helping households lower energy consumption and manage monthly utility costs more effectively.

Beyond energy savings, LG refrigerators are designed to support food security and reduce waste, an increasingly important consideration for families navigating rising food prices. The inverter system enables faster cooling recovery after power interruptions and helps maintain consistent internal temperatures, preserving food freshness for longer periods. With fewer friction points in the compressor design, LG refrigerators also offer enhanced durability and long‑term reliability, minimizing maintenance costs over time.

LG’s energy‑saving refrigerator lineup includes Top Mount, Side‑by‑Side, and Door‑in‑Door models, each tailored to different household sizes, storage needs, and lifestyle preferences. The Top Mount refrigerators offer practical, space‑efficient designs ideal for everyday family use, delivering reliable cooling with optimized energy efficiency.

The LG GN-F452PFAQ model keeps food perfectly fresh with FRESH Converter+ that optimizes temperature as per food items and never runs out of ice with the Auto Ice Maker.

For households that require larger storage capacity and improved organization, Side‑by‑Side models provide generous interior space, improved visibility, and consistent cooling across compartments.

For more design‑conscious consumers, LG’s Door‑in‑Door refrigerators reduce cold air loss by allowing quick access to frequently used items, supporting both energy efficiency and long‑lasting freshness.

At the premium end, LG continues to innovate with advanced models such as the MoodUP™ refrigerator, which combines customizable aesthetics with functional energy‑saving features like the InstaView panel, allowing users to view contents without opening the door and reducing unnecessary cold air loss. This refrigerator comes with a washing machine as a bundle promotion.

According to LG, this range‑based approach reflects a deep understanding of how Nigerian households differ in size, consumption habits, and lifestyle needs.

“Nigerian consumers are becoming more intentional about how they use energy and manage household costs,” said Mr. Oktai Kim, General Manager, Home Appliance Solutions, LG Electronics Nigeria. “By offering a diverse range of inverter‑powered refrigerators, we are giving families the flexibility to choose solutions that suit their homes while delivering long‑term value through energy efficiency and dependable performance.”

Rather than focusing on technology alone, LG’s energy‑saving refrigerator portfolio emphasizes everyday benefits, efficient operation, reliable cooling, and designs that adapt to real living conditions. Available nationwide, LG refrigerators continue to support smarter living and economic resilience, reinforcing the company’s commitment to delivering durable, consumer‑focused home solutions for Nigerian households.


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