General News
N12trillion Premium Projection by 2020 – How feasible?
Can the Nigerian insurance industry achieve the projected N12trillion premium base by the year 2020? This is the million dollar question agitating the minds of stakeholders as industry performance indicators unfold.
Industry watchers believe that the very tall dream is realizable if the building blocks envisaged by experts are well positioned. The Nigerian Insurers Association (NIA) under the Finance Sector Strategies (FSS) Committee set an N12trillion premium target for itself by 2020. But a school of thought opined that the projection is a mere wishful thinking.
Optimists are of the view that given the nation’s population of over 140million and the full implementation of compulsory insurance, the task is easy. Official position of the Nigerian Insurance Association corroborated this. This report stressed that this can be achieve if “compulsory insurances are comprehensively implemented, as well as development of the mortgage market which is projected to be capable of generating about N1trillion by 2020”.
The projection is also anchored on the benefits derivable from the fast-growing credit market, Small and Medium Enterprises (SMEs) housing sector development etc,
Proponents of this target hinged their optimism on the support of allied industries such as banking, mortgage and credit markets, telecommunication and education.
Yet, others hold a contrary view. They believe that the projection may be a mirage going by penchant of Nigerian leaders to discard policies enunciated by successive government.
According to Alhaji Bala Zakariya, chairman, Finance Service Sector (FSS) Insurance Sector Reforms Implementation Committee, this project is realizable. But it is subject to meeting other challenges.
He explained that the industry must continue to subject itself to further structural reforms as well as adhering to the ideas that are enunciated in the sector reforms document.
Zakariya further based his optimism on the encouraging growth rate of the industry. For instance, the industry generated N70.32billion premium income in 2005. This placed it in the 65th position in the world insurance market and 6th out of 8 leading insurance markets in Africa.
Also, the premium base as at 2007 grew to N100.6billion, an increase of over 100 percent within three years. The estimation is that N1trillion could be generated within the next 12 years through compulsory insurance…Also N2 trillion could come from the compulsory group life insurance and annuity, motor vehicles and professional indemnity. It is estimated that about N0.5trillion would come from local retention of oil and gas, aviation, marine, hull and solid minerals.
The committee’s projection is also built around generating N2trillion through the compulsory pension, N3trilion from the Nation Health Insurance Scheme (NHIS). Yet, another N2trilion could come from property, casualty and liability from government both in terms of corporate and domestic.
What gives credence to this projection is that the industry has been having a rising profile in recent time.As a result of the injection of fresh funds during the recapitalization exercise, the sector capitalization increased from less than N200bilion in 2007 to over N670billion at the peak of 2008 and rose further through private placement to well over N20billion for some insurers.
According to reports released by the NIA, “it is estimated that the volume of business written by insurance companies which grew from N100.6billion in 2007 to about N164.5billion in 2008 may double within a short time frame especially going by the performance indicators of 2009.
This represents an estimated increase of 63.5percent. The reports added that there has been a steady increase in claims payment which stood at N53.3billion during the period under review.
General News
Leo Stan Ekeh Foundation to Open Portal for 1,000 University Tech Scholarships on Monday

The Leo Stan Ekeh Foundation (LSEF), in collaboration with TD Africa, Konga Group, Zinox Technologies, and Task Systems, is set to officially launch its highly anticipated scholarship programme aimed at empowering 1,000 exceptional Nigerian indigent whiz-kids in the field of technology.

Leo Stan Ekeh
The dedicated application portal, initially scheduled to go live on April 22, will now launch on Monday, April 27, 2026, following final technical enhancements to ensure a seamless, secure, and transparent application experience for prospective candidates nationwide.
This landmark initiative, first announced by Leo Stan Ekeh, Africa’s foremost tech icon and chairman of Zinox Group, forms part of his unwavering commitment to national development and youth empowerment.
The programme was unveiled on February 22, 2026, when Ekeh marked his 70th birthday. Rather than host an elaborate celebration befitting a man of his stature, he chose to channel resources into a cause that would create long-term impact for an economy, offering university scholarships to indigent but brilliant Nigerian youths to study Computer Science in federal institutions.
Building on a legacy of over 6709 beneficiaries trained over four decades by him and his companies, Mr. Ekeh at the time said the goal is to nurture a new generation of highly skilled technology professionals capable of supporting both the private and public sectors, while positioning Nigeria for greater competitiveness in the global digital economy.
This vision reflects his decades-long commitment to building sustainable positive disruptive capacity within Nigeria’s technology ecosystem that shall alter the nation’s GDP.
The scholarship programme is designed to transcend mere financial support, offering beneficiaries access to a comprehensive ecosystem powered by the initiative’s distinguished partners. Beneficiaries will receive technical support, mentorship by very successful members of Nigeria Compute Society, and industry exposure to ensure that recipients are equipped with practical, market-relevant skills.
This multi-faceted approach ensures that scholarship beneficiaries gain not only theoretical knowledge but also hands-on experience and professional networks that will propel their careers in technology.
By leveraging the combined expertise and infrastructure of these industry leaders, the initiative is poised to deliver a transformative learning experience that prepares young Nigerians to compete effectively on the global stage. Beneficiaries will emerge as future-ready innovators capable of driving digital transformation across sectors and contributing meaningfully to Nigeria’s economic growth.
The initiative builds on the longstanding legacy of Leo Stan Ekeh, whose contributions to Nigeria’s technology landscape and by extension Africa have spanned decades and fundamentally reshaped the nation’s digital infrastructure. From pioneering indigenous computer manufacturing through Zinox Technologies to driving digital transformation across public and private sectors, Ekeh has consistently demonstrated a commitment to building sustainable technological capacity within Nigeria.
His investments in digital infrastructure, talent development, and indigenous innovation have positioned Nigeria as a formidable player in the global technology landscape.
This scholarship programme represents the latest chapter in that transformative journey, directly addressing the critical need for skilled technology professionals in an increasingly digital global economy.
As anticipation builds ahead of the April 27 launch, interested applicants are advised to visit the Konga.com website and click the Foundation banner on 1000 Tech Scholarships Awards where the application link and detailed participation guidelines will be published on the launch date. The organisers have assured that the selection process will be merit-driven, inclusive, and transparent, with a focus on identifying truly outstanding young talents from across Nigeria’s diverse regions.
General News
US Library Blames Hackers for Viral Posts Urging Violence in Nigeria

Westerville Public Library, a public library that serves the community of Westerville, Ohio, a suburb of Columbus in United States is in the news after its social account urged violence against Nigerian politicians.

Library staff said the inflammatory messages were not written by any employees and moved quickly to purge the feed and regain control of the account, rattling regulars who are used to the library’s usually low-traffic presence in Uptown Westerville.
The Columbus Dispatch reported that the library’s X account first posted a message calling for the death of Nigerian politicians, starting with the country’s president.
According to the paper, most of those posts were wiped from the feed within about half an hour.
The Dispatch also noted that the account had been sitting dormant since 2024 before the violent statements suddenly went live, and its full report includes the timeline and language that circulated on the platform.
After the posts appeared, the library issued a short note on X that read, “Please disregard any recent posts you may have seen from the Westerville Library on this platform today. Thank you for your understanding.” As reported by The Columbus Dispatch, communications director Tamara Murray told the paper the account was hacked shortly before the messages were published and that staff were working to recover passwords.
The library did not immediately say whether law enforcement had been notified.
General News
IshowSpeed’s African Tour was ‘Spy Job,’ for Elon Musk- Seun Kuti

Oluseun Anikulapo Kuti, popularly known Seun Kuti, Nigerian musician, has claimed that IShowSpeed, American streamer’s African tour was was funded by Elon Musk, billionaire tech mogul.

Seun Kuti
According to the singer and the youngest son of Fela Kuti, Afrobeat pioneer, the tour aimed at testing the reach of Musk’s satellite across the African continent.
Seun Kuti also explained that the streamer’s tour was not just to see the beauty of Africa, but was a spy job for Elon Musk.
”They all have the agenda. All that was a spy job for Elon Musk. I hail him and we have our own people pursuing him with us“, he added.
IShowSpeed completed a landmark 28-day tour of Africa, visiting 20 countries between December 29, 2025, and January 27, 2026, aimed at experiencing local cultures and engaging with fans.
The trip, which featured live-streamed visits to nations including Nigeria, South Africa, and Ghana, saw him surpass 50 million subscribers. He described the experience as life-changing.
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