General News
Operators Have Risen to Domesticate Insurance Practice -Experts
The Nigerian insurance market has witnessed the launch of new products in recent times. This may not be unconnected with the special attention which the industry has earned following the recapitalization of the industry. In the last two years in particular, the operators have deplored greater strength to fashioning out innovative products in line with societal expectation. This creative effort is expected to substantially lead to an increase in premium volume. This has included launching new products for specialized risks. According to industry watchers, industry development in the past one year have shown that the insurance companies appear set to discard the old garment for a more enduring one. This is indicative of the type of new products being churned out from the operators many of which are tailor –made to suit the hostile Nigerian environment. At first glance, it would appear some companies have gone the traditional route with their products such as wedding and special events, construction, sudden disasters like fire outbreak or flood e insurance agents errors and omissions (E&O) coverage, or kidnap and ransom which is receiving increased attention due to the rampant cases of kidnap for ransom in the Niger Delta areas of Nigeria. A closer look at some of these products these products show that they actually target very specialized risks or provide options that are not available from other markets. Looking at the type of product that been coming out of insurers drawing board, it could be said that operators have started to master the peculiar environment in which they are doing business. Industry watchers advised insurance companies to deploy effective energy in designing products along the line of events. This is hinged on the fact Nigerians like parties and by that culture therefore, prospective customers would be willing to take short term insurance to guarantee the success of their events. Operators have also been enjoined to do deep research studies into how Nigerian farmers can be talked into taking agricultural insurance to safeguard their farm produce. This is more so as Nigerians are predominantly farmers and any insurance policy that could win their confidence is bound to witness resounding success.
In the area of health insurance, industry watchers have also suggested the need for Dental insurance. This is based on studies which showed that many of those who take health insurance never worry about specific segments like dental insurance. If you want a healthy mouth, then dental insurance is your sure bargain. Though dental care is expensive, it is a necessity for those who chose to invest in their dental health. Medicare doesn’t include a dental insurance plan, and many employers either do not provide dental insurance or they are scaling back their offerings, leaving consumers to pay for dental care on their own. As a result, many consumers are going without the expected insurances which they normally should take.
Dental insurance plans also often come with a coverage cap, meaning consumers are only insured for a particular amount per year. Once the dental patient exceeds that amount, he or she pays out of pocket. Consumers who go the insurance route also get the benefit of oversight from their relevant authourity which could prove helpful if they have insurance complaints.When it comes to selecting an insurance plan or a discount dental plan, some of the same rules apply. A 2009 poll by Harris Interactive and HealthDay found that 30 percent of adults with health insurance did not visit a dentist because of the prohibitive costs. Of those who were uninsured, more than half required dental care, but costs kept them away. If your employer doesn’t offer dental insurance, experts advised that people could buy an individual policy. However, another alternative is the discount dental plan, a membership-based network which offers discounted dental services from select providers. Dental insurance is not popular in Nigeria where people seems to be more concerned with meeting basic needs of life. With dental insurance, consumers typically pay a monthly premium and a deductible before insurance kicks in, but even after the deductible, policies vary widely on co-pay requirements. Some policies have no co-pay while others require the consumer to pay a substantial portion.
Young girls aspiring to delve into ICT careers have been advised to take advantage of the current versatility in the industry to create a niche for themselves. This was the view of participants at the just-concluded International Girls in ICT Day celebration organised by eBusinessLife Communication Limited, in Lagos.
The event, an initiative of the International Telecommunications Union (ITU), seeks to encourage young girls to take up tech careers that will see them balance the gender disparity in the industry.
In a panel session moderated by Tech Life Media CEO and organiser of Women Entrepreneurs & Executives in Technology Summit (WEETS), Ugochi Emmanuel, top female tech executives narrated their foray into technology careers and advised the young girls on requirements and need to start early in the quest to make global impact in ICT.
Narrating her experience into a tech career, Chief Administrative Officer, Digital Realty, Nigeria, Dr. Nkechi Newton Denila noted that the difficulties of the past have been lightened up and more women have opportunities to excel in the field.
“Today, the landscape is vastly different. Governments, international organizations and private institutions across the globe are intentionally creating opportunities for girls in Science, Technology, Engineering and Mathematics (STEM). The reason we are gathered here is part of that global commitment to ensuring that more women participate in ICT and related fields.
This presents a unique advantage for young girls. Many organizations now deliberately promote gender inclusion and equal opportunities in technology. Therefore, if you discover an area within ICT that excites you, pursue it wholeheartedly. This window of opportunity may not remain open forever. Do not wait for others to decide your future for you. Identify your passion, chart your course, and remain committed to achieving your goals.”
Associate Consultant and Information Security Analyst, Digital Encode, Itunuola Aderemi, advised the young girls to begin researching various technology disciplines, including Cybersecurity, Data Analytics and Data Science for areas that align fully with their interests and strengths. And to explore and discover any field that perfectly matched my aspirations.
While admitting the existence of such challenges as persistent stereotype against the female gender, Team Lead, Retails, New Horizons Nigeria, Glory Omole, noted that fortunately, organisations such as New Horizons are actively working to change that narrative. “Our leadership recognizes the urgent need to increase female participation in ICT. Considering that women still constitute a relatively small percentage of the global technology workforce, there is a deliberate effort to encourage more girls and women to enter the field.”
She however cautioned the young girls not to see this campaign as a competition between men and women, rather, it should be seen as a partnership where everyone is given equal opportunities to contribute and excel. “We want to see more women leading innovations, conducting research, developing applications and creating solutions that address societal challenges,” she enthused.
Speaking on the need for mentorship, Asst. Manager, Product & Services, Zoracom, Mistura Salaudeen, noted that stereotypes and confidence-related challenges still exist, but one effective way to overcome them is by drawing inspiration from women who have succeeded. She observed that across government, technology, finance, healthcare and other sectors, women are increasingly occupying leadership positions, serving as Chief Technology Officers, board members and executives.
“While challenges persist, I believe our focus should shift towards opportunities rather than obstacles. Artificial Intelligence, for example, has significantly lowered barriers to entry. AI enables individuals to develop business proposals, prepare presentations and execute ideas much faster than before. Therefore, instead of being discouraged by challenges, girls should leverage available technologies and communities to accelerate their growth and maximize emerging opportunities,” she advised.
Glory Omole also noted that technology is broad and offers diverse opportunities.
“There are numerous digital skills available today, but the choice of skill should depend largely on individual interests and career aspirations.
Fields such as Data Analytics, Data Science, Cybersecurity, Web Development and User Interface/User Experience (UI/UX) Design are among the high-demand skills available today. Each serves a distinct purpose.”
Corroborating this claim, Dr. Newton-Denila said: “It is important to understand that ICT now permeates virtually every profession. Whether in medicine, law, engineering, agriculture or business, technology has become an indispensable component of professional practice.
In medicine, for example, Artificial Intelligence is increasingly being used in diagnostics, telemedicine and robotic surgery. Similarly, in law, digital applications now support legal research, documentation and case management.”
The event has its theme as “AI for Development: Girls Shaping the Digital Future”.
General News
Franklyn Ginger-Eke CEO The Rainbow Strategy Honoured with PR Power List 2026 Rising Voices Award
Dr Franklyn Ginger-Eke, Founder and Chief Strategist of The Rainbow Strategy, has been honoured with the PR Power List 2026 Award in recognition of his contributions to strategic communications and public relations in Nigeria.
Franklyn Ginger-Eke, CEO The Rainbow Strategy
Ginger-Eke received the award in the Rising Voices category during the fifth edition of the PR Power List organised by GLG Communications as part of activities marking the 2026 World Public Relations Day.
The award ceremony, held at the Mike Adenuga Centre in Ikoyi, Lagos, attracted leading professionals and stakeholders in Nigeria’s public relations industry.
Among those in attendance were the President and Chairman of Council of the Nigerian Institute of Public Relations (NIPR), Dr Ike Neliaku; the Chief Executive Officer of the Public Relations Consultants Association of Nigeria (PRCAN), Dr Nkechi Ali-Balogun; former President of the African Public Relations Association (APRA) and Chief Executive Officer of CMC Connect LLP, Chief Yomi Badejo-Okusanya; and Executive Director of THOP and Adviser, Edelman Africa, Mr Kwame Senou.
According to the organisers, the PR Power List recognises public relations and communications professionals whose work has made significant contributions to organisations, influenced public discourse and advanced the communications profession over the past year.
Reacting to the recognition, Ginger-Eke described the award as both humbling and motivating.
“I am deeply honoured to receive this recognition for the modest contribution we are making in shaping the public relations and communications ecosystem.
“I see it as a testament to the dedication, creativity and excellence of our team at The Rainbow Strategy.
“This is a call to do more in delivering strategic communication solutions that create impact, build trust and contribute to the continued growth of the public relations profession in Nigeria,” he said.
He dedicated the award to young and aspiring communication professionals, encouraging them to embrace innovation, professionalism and ethical practice in their careers.
Ginger-Eke also reaffirmed The Rainbow Strategy’s commitment to promoting excellence in strategic communications, reputation management, stakeholder engagement, data protection compliance and value-driven public relations campaigns across the public and private sectors.
A Fellow of the Nigerian Institute of Public Relations (NIPR), Ginger-Eke is recognised for his work in public affairs, strategic communication and data protection compliance through his Abuja-based consultancy, The Rainbow Strategy.
Dangote Petroleum Refinery is reportedly nearing completion of a $2.5 billion private placement that values the company at about $40 billion ahead of its planned public listing.
Private placement is the direct sale of company shares or bonds to pre-selected investors instead of the general public and it is used to raise money quickly while avoiding strict public reporting rules.
People familiar with the transaction said investors acquired as much as 6 per cent of the refinery, according to a BusinessDay report.
The reported terms would value the business at approximately $40 billion.
Neither Dangote Group nor the refinery has publicly announced the final amount raised, the identities of most subscribers or the precise percentage sold.
The figures should therefore be treated as transaction details supplied by unnamed sources rather than confirmed company disclosures.
The reported $2.5 billion total is nevertheless significant as it indicates strong demand for exposure to a privately controlled refinery that has rapidly become central to Nigeria’s fuel supply and an increasingly important exporter of petroleum products.
The placement was said to have attracted more demand than the available shares, allowing the company to secure substantially more than the amount initially associated with the fundraising exercise.
Femi Otedola, chairman, First HoldCo, is the only major participant publicly identified in the report.
He reportedly committed $100 million to the transaction and sold his investment in Geregu Power Plc to finance the acquisition.
Nigeria’s pension industry was also reportedly cleared to participate.
Access to more than $17 billion in retirement assets would broaden the refinery’s potential investor base beyond wealthy individuals and conventional institutional buyers.
Participation by Pension Fund Administrators would, however, require careful attention to valuation, liquidity and portfolio-concentration limits.
Retirement funds must balance the attraction of a large Nigerian industrial asset against their responsibility to protect contributors’ savings.
The implied $40 billion valuation represents investor expectations about the refinery’s future earnings rather than only the physical cost of constructing the facility.
Its ability to process 650,000 barrels of crude daily gives it a central role in supplying Nigeria and other markets, but its commercial performance remains connected to crude availability, product prices, exchange rates and regulation.
The refinery has struggled to obtain all the Nigerian crude it requires under the government’s naira-for-crude arrangement.
It has consequently purchased some feedstock internationally and recently moved local petroleum-product pricing into dollars to align sales revenue more closely with its foreign-currency expenses.
Those constraints will be important during any public offering.
Prospective shareholders will want greater clarity on crude-supply contracts, debt, operating margins, export revenue and the company’s relationship with Nigerian regulators.
It is also unclear whether the private placement involved newly issued shares, a sale by existing owners or a combination of both.
That distinction determines whether the reported $2.5 billion becomes fresh capital for the refinery or proceeds received by selling shareholders.
The transaction could provide a useful price reference for the planned initial public offering.
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