News
PwC Report Reveals Brain Exports Presents New Optimal Development Path for Nigeria

Exporting Brain Capital to the global market will put Nigeria on the path to become a developed nation in record time. This is according to a new report by leading professional services firm, PwC Nigeria which analyses the best development path for the country.
After significantly evaluating relevant trends impacting today’s global business landscape and Nigeria’s unique circumstances as well as her position in the world today, the report titled Nigerian Brain Exports: The Optimal Path to Growing the Nigerian Economy’ recommends placing Nigerians in high-end Global Value Chains (GVCs) as the best path forward.
Brain export occurs when a Nigerian physically in Nigeria is inserted into global value chains and exchanges their brain capital for foreign currency which is then remitted to the country where the talent is physically located.
With such a large population that has an average age of 19 years, Nigeria according to PwC has significant Brain Capital advantage, especially considering the ageing population in countries such as Germany, Japan, Italy and the United States. It is estimated that the worldwide working-age population will see a 10% decline by 2060.
Japan in particular tops this list with 28% of its population above 65 and Italy comes second with 23%. In contrast, only 2.7% of the Nigerian population is above 65 which means Nigeria is strategically positioned to supply labour to the global market, thus presenting a strong comparative advantage.
Andrew S. Nevin(PhD), Partner & Chief Economist, PwC Nigeria, said: “Nigeria can transition from a developing to a developed nation within 10 to 20 years. To achieve this however, the country must seek and follow a path different from the traditional development path.
“We believe that the traditional strategy for development is not the most efficient path to improve the quality of life for Nigerians. It takes too long to deliver the expected benefits and Nigeria has not been successful in following this path. Most developed countries adopted the traditional path, but it required significant financial investments spread over a long period. Unlike these countries, Nigeria lacks the finances and cannot afford to waste time.
Given the times we live in, with advancements in research with technology and changes in the ways of working, there is a new optimal development path, one that is strengthened by changing circumstances and Nigeria’s unique assets and attributes. That path is one where Nigeria exports Brain Capital into higher value-added global services markets.”
With case studies of India and Kenya and a few local examples of companies already exporting Brain Capital from Nigeria and actively participating in the GVC’s, the report created a plausible scenario in which Nigeria captures 17% of the global programming and software development jobs. The earnings that will accrue to Nigerians performing these jobs is about $50 billion.
Based on the market size and the growth potential, Nigeria should have a target of two million remote workers inserted into GVCs within ten years. This number the report reckons would drive growth in other sectors of the economy through the increased purchasing power of the people inserted into the GVC.
According to the report, it is essential that the talent plugged into GVCs are not in a few selected locations but adequately distributed across the country to ensure prosperity for the nation.
Importantly, the report opines that Nigeria needs to start treating education as an infrastructure for development, not a social service, especially digital education, as screen-based interactions have become as fundamental as reading and writing.
The report acknowledged that it might be complex for the government to tax Brain Export workers at the moment. But it noted that the advantages outweigh that concern. With increased Brain Exports, burdens such as extreme poverty and high unemployment would lessen, and the government would also gain indirect tax benefits, like Value Added Tax.
News
Lasaco Assurance to Invest in Technologies, Systems to Deliver Value to Clients

Lasaco Assurance Plc, has said it would continue to invest in technologies and systems that delivers tangible value to clients and drive industry innovation.
Mr Abiodun Razzaq, Managing Director of Lasaco Assurance, who stated this at the 2025 customer forum organised by the company for its northern region customers in Abuja, said the forum’s interactive session offered an invaluable platform for open and constructive dialogue.
He said the forum brought together a distinguished assembly of customers, including policyholders, brokers, corporate clients, and industry partners, to engage in a robust dialogue aimed at enhancing service delivery and aligning offerings with the evolving expectations of the Northern market.
In his opening remarks, Regional Manager (Northern Region), Lasaco Assurance, Mr. Kunle Hamza underscored the company’s unwavering dedication to stakeholder engagement as a foundational pillar of its growth strategy. He emphazised that customer insights remain integral to shaping policies, refining service processes, and reinforcing the company’s brand promise.
He provided a compelling overview of Lasaco assurance’s recent performance and strategic priorities. He highlighted the company’s consistent premium income growth, bold digital transformation agenda, and ongoing operational restructuring designed to ensure responsiveness and resilience in a dynamic insurance landscape.
Addressing the customers, Mr. Adedayo Adetokun, Head of Strategy, affirmed that Lasaco assurance was actively developing multiple digital platforms to cater forvarious customer segments—part of a broader digital innovation roadmap that positions the company for future growth. He noted that human capital development was also being prioritised with targeted investments in talent acquisition and training to enhance operational capacity.
In his closing remarks, Mr. Muyiwa Anwoju, General Manager, Sales, expressed the management’s deep appreciation for the feedback received.
He assured participants that all contributions would be meticulously reviewed, categorised, and integrated into the company’s improvement plans. According to Anwoju, this forum marks the beginning of a renewed customer engagement framework, one that would be expanded across other regions in due course.
News
CAC Announces Upward Review of Service Fees

Corporate Affairs Commission (CAC) has announced an upward review of its service fees, which will take effect from August 1, 2025.
The announcement was made through the commission’s official social media page on Tuesday, June 17, 2025.
According to the CAC, the fee adjustment was necessary due to the current economic conditions, rising operational costs, and input from key stakeholders.
The statement read, “The Commission wishes to inform the General Public, Esteemed Customers, and all Stakeholders that in the continued efforts to improve its service quality and delivery, it has become necessary to review certain service fees effective the 1st day of August 2025.”
The commission explained that the fee changes are part of efforts to deliver better and more digitalised services while maintaining the integrity of Nigeria’s corporate registry.
The revised fee structure will affect services related to companies, business names, limited partnerships, and incorporated trustees.
Key fee changes announced by the Corporate Affairs Commission (CAC) include adjustments across various service categories.
For voluntary striking-off, the fee is now ₦50,000 for small companies and ₦100,000 for public companies, up from the previous ₦25,000.
Relisting a company will cost ₦50,000 for LTD/GTE and ₦100,000 for public companies.
Due diligence through self-service is set at ₦50,000. Requests for extension of time to hold an annual general meeting will now cost ₦100,000 for public companies and ₦50,000 for others.
Historical search reports will range from ₦20,000 to ₦30,000 per request. A restriction of a director’s residential address now attracts a ₦25,000 fee, while obtaining a certified true copy of documents or extracts will cost ₦5,000 per copy.
For limited partnerships, both voluntary striking-off and relisting will cost ₦25,000. A letter of good standing will be ₦10,000, registration and certified copies of documents will be ₦30,000, and a change of name will attract a ₦10,000 fee.
Regarding business names, voluntary striking-off is now ₦10,000, relisting ₦25,000, and an application for cessation ₦10,000. The certified true copy of documents will cost ₦5,000 each, and restriction of a proprietor’s address will also be ₦25,000.
Name reservations remain at ₦1,000, while reserved names with restricted words still cost ₦5,000.
The new fee structure is expected to impact business owners, lawyers, compliance officers, and others who interact with the corporate registry.
News
Global Travel Made Simple with Kaspersky eSIM Store

Kaspersky eSIM Store is a new connectivity solution for international travel. Designed to make it easier for leisure and business travellers to stay online globally, it empowers users with easy Internet access across 150+ countries and regions, with a choice of over 2,000 affordable data plans.
The production of eSIM-compatible devices has increased tenfold in the last five years according to the GSMA. By 2028, it is expected that half of all mobile connections worldwide will use eSIM technology.
This rise in popularity is driven by eSIM’s convenience and ease of use – eliminating the need for physical SIM cards and enabling a hassle-free experience wherever you go.
To meet this growing trend, Kaspersky eSIM Store provides access to eSIM plans from local telecom operators all over the world – with an easy interface and simple management.
A new way to always stay connected
Kaspersky eSIM Store lets users to enjoy affordable and easily accessible Internet connections around the globe without the hassle of physical SIM cards. Users can seamlessly access eSIM plans from local telecom providers in 150+ countries and regions worldwide, providing favourable rates and transparent conditions without any roaming fees.
While travelling, an eSIM can help users avoid high roaming costs on a primary SIM, remove the need to search for a local SIM kiosk and share personal data with them, as well as avoiding the use of unsecured public Wi-Fi networks.
Instead, eSIM ensures that leisure travellers can focus on the joyful moments of their trip and instantly share them with friends and relatives, while business travellers have continuous access to important messages, working documents and video calls.
Seamless connection in a few taps
Kaspersky eSIM Store features a user-friendly interface for plan selection, purchase, top-ups, and data usage management. Travellers can choose their preferred activation date, allowing them to set up their eSIM in advance and be connected the moment their trip begins — all in just a few taps.
To match the needs of any traveller, there are many flexible ways to choose and manage data plans.
Options are available based on destination, including plans for specific countries, global plan 122 destinations, or mini-global plans tailored to specific regions.
For trip duration, travellers can select between expiring plans valid for a fixed period or non-expiring plans that remain active until the data is fully used. This ensures convenience whether the trip is short or long.
Additionally, users have control over when their plan starts. They can either schedule activation for a specific date or begin using the data immediately, providing flexibility to align with their travel schedule.
To ensure users never run out of GB unexpectedly, Kaspersky eSIM Store provides real-time data usage monitoring and alerts when a balance is near zero. The user profile (on the webpage or in the app) allows quick top-ups and supports multiple countries on a single eSIM – install once and use for a lifetime.
Kaspersky eSIM Store is launched in partnership with award-winning provider BNESIM Limited, which has been delivering global eSIM services since 2017.
“At Kaspersky we are constantly keeping up with latest trends shaping our digital habits, and eSIM is definitely one of them. eSIM technology greatly simplifies travelling abroad, allowing people to stay connected and not worry about issues like roaming charges.
“We know from our own experience how important it is to stay in touch with your family or colleagues when you are on a trip, so we designed Kaspersky eSIM Store for all types of travellers to ensure instant access to eSIM data plans wherever they go, as well as to provide a safe and positive digital experience,” – Mikhail Gerber, Executive Vice President, Consumer Business, Kaspersky.
Kaspersky eSIM Store complements Kaspersky’s wide range of industry-recognised solutions, such as Kaspersky VPN Secure Connection and Kaspersky Premium. Together they cover all modern connectivity needs and enhance digital freedom – ensuring safe, worry-free connectivity across the world.
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