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Pathway to Taking Insurance to Greater Heights

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Insurance business in Nigeria is almost a century old, yet, its level of growth and acceptability among the insuring public is still unbelievably low.  Why?  Expert’s opinion is unanimous in condemning the practice of operators in sticking to their familiar old pattern without minding the culture and operational environment. wilson itsisor takes a look at the industry and the probability of exploring new grounds in order to take the industry to the next level.

Why does the insuring public have unexplainable apathy towards insurance practice?  Reason: the operators have failed to be proactive by exploring new areas and breaking barriers.
First, in the mode of practice over the years, a lot appears to be unclear to the insuring public around whom the business itself is woven.  Among these are the technical languages with which most insurance businesses are transacted. This has been further worsened by the activities of a few operators who repudiate from paying claims when the need arises.
Interestingly, however, among all existing businesses, insurance is one that has the greatest potential for growth.  This is traceable to the many untapped areas which operators have not looked into.  From the operational viewpoint of operators, their greatest undoing is keeping to their old traditional methods some of which the public have lost confidence in.
Industry watchers are of the opinion that the operators are not doing enough in new products development.  For instance, Nigeria ’s population is over 150 million people.  Yet, over the years, operators have struck to the traditional Life Insurance Policy which accounts for less than 5 percent of the population.  Also, operators ought to work on government to enforce the law that any employer who employs up to five percent ought to take insurance cover.
According to an analyst, Ambrose Umosor, a dynamic sector as insurance should be able to brainstorm and work out policies that will accommodate at least 60percent of the population.  “But, can the industry grow if operators fail to explore every conceivable opportunity to raise Life Assurance beyond its present low level?”
However, some keen observers have blamed poverty and ignorance on the part of the people for the slow pace of development.  But to what extent can the operators contribute in alleviating this poverty and ignorance?  Here lies some of the problems confronting the insurance.  If identified problems are not frontally addressed, the likelihood is that the status quo will remain.
Umosor posits that insurance practitioners should do extensive enlightenment, spread over every facet of life in order to break the barrier of ignorance to the growth of the industry.
Still on exploring new grounds, analysts say that that less than 10 percent of existing properties belonging to the various tiers of government are insured.  Every where you go, there are various government properties belonging to federal, states and local governments which are not covered with insurance policies. Yet, operators seem to be satisfied with the low level of such properties that are presently covered by insurance.
Analysts suggest that insurance operators should liaise with relevant government agencies to identify all such government properties up to the ward levels at the local government.  They opined that when concerted efforts are made by them, the dividends of such efforts will not only enhance the scope of business but also contribute to raising industry standard.
In addition, research findings show that in Nigeria , household items are usually not insurable as it is done in the developed nations.  Mr. Shola Olafimiyan explained that a sector like insurance with a greater potential for growth, should be active in evolving ways out of the doldrums.”  What does it take to get all Nigerians, for instance, who own household items to insure them against theft and fire?”
Olafimiyan said: “It takes a proactive insurance sector working with relevant government agencies to formulate, amend and change policies towards the enhancement of the insurance business”.
Another area which has remained largely untapped is motor vehicle insurance.  According to sources at the National Insurance Commission (NAICOM), over 70percent of vehicles on our roads are not insured.  Out of these less than 30percent of vehicles that are insured, majority of them carry third class insurance instead of comprehensive policies.
Besides, a large percentage of these vehicles carry fake insurance certificates.  Mr. Ambrose Umosor explained that everyday in Nigeria ; thousands of new vehicles are bought, noting that if an existing law says that all vehicles must be compulsorily insured, what stops the operators from deploying all their resources to ensure that this is fully complied with.
He blamed this slow pace of development on the winner-takes-all syndrome among operators which forbade them from working as a united front to raise the standard.  For instance, analysts believe that if the operators, individually and collectively, through the Nigerian Insurance Association and other professional groups, work hand-in-hand with NAICOM, the Federal Ministry of Finance and the National Assembly, the insurance coast will be further enlarged.
Industry watchers believe that vehicle insurance alone, if properly harnessed, is enough to cater for the greater needs of operators.  But because of the several leakages arising from the lukewarm stand of operators, the industry is still shrouded in myth and mystery.
Apart form public buildings and the unexplored vehicle insurance cover; the uninsured private buildings in Nigeria , especially story buildings are other areas which operators have not looked into.
Recently, the Lagos State House of Assembly proposed a bill which will see to the compulsory insurance of story buildings.  This was proposed to nip the cases of collapsed buildings in the bud.
Concerned watchers opined again that a proactive and innovative industry should have tapped into this area in order to enhance its growth.  Unfortunately, insurance operators have struck to their old grounds, many of which have failed to develop beyond their status even after several decades.
Notwithstanding stakeholders have been challenged to rise to their responsibility and raise the standard of the industry. This becomes critical, especially now that the consolidation wind is still blowing across the industry.  The good performance of insurance stocks on the floor of the Nigerian Stock Exchange (NSE) now is an indication of the positive effects of the reforms.
Therefore, if other factors militating against enhanced standard are addressed, the insurance industry may be the most vibrant in our economy.
 

 


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NCDC Says Lagos, FCT, Others on High Ebola Alert

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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.

NCDC Says Lagos, FCT, Others on High Ebola Alert

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.

 


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How Enugu State is using GovTech to Fix its Housing and Land Administration

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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.

How Enugu State is using GovTech to Fix its Housing and Land Administration

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.


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How MTN and SMEDAN are Closing Nigeria’s $158 Billion Funding Gap for 40 Million Small Businesses

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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.

How MTN and SMEDAN are Closing Nigeria’s $158 Billion Funding Gap for 40 Million Small Businesses

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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