Yemisi Izuora The Great Nigeria Insurance Plc has said that its Insurance portfolio has grown steadily by over 14,845 per cent and as such do not require any partnership to sustain it’s business. The Insurance firm therefore expressed shock over a publication making the rounds that its Annuity Insurance business has been acquired by a rival insurance company. The said publication is to the effect that GNI Plc and Tangerine Africa Annuity businesses have been acquired by this particular Insurance Company. The firm said development is a crude attempt by an unscrupulous competitor to demarket it’s brand and shrink its…
Author: orientalnewsng
…Confirms Possible Minimal Price Adjustment Yemisi Izuora The Independent Petroleum Marketers Association of Nigeria, IPMAN, as well as the Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Marketers Association of Nigeria (DAPPMAN) have applauded and endorsed the pronouncement by President Bola Ahmed Tinubu, on the phase-out of the petrol subsidy regime. In a statement in Lagos, the Marketers, appreciated the clarity of policy from the Tinubu administration, a direction that signals a courageous and pragmatic shift in the nation’s economic trajectory. “In light of the assurances given by the Nigerian National Petroleum Company Limited (NNPCL) and the…
A cross section of members of the Host Community Development Trusts, with leadership of The Shell Petroleum Development Company Limited, NNPC Upstream Investment Management Services (NUIMS) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) at the unveiling of eight HCDTs in Port Harcourt, Rivers State… recently. Yemisi Izuora Eight Host Community Development Trusts (HCDTs) have been unveiled in Rivers State as NNPC/SPDC/TotalEnergies/NAOC Joint Venture consolidates the gains of the Petroleum Industry Act (PIA) in the region. The same number of HCDTs have already been unveiled in Yenagoa, and the latest ceremony brings to 16 the Trusts which have been presented to the public out of…
Yemisi Izuora The National Petroleum Company Limited NNPCL has thrown its weight behind the decision by the Federal Government to exit petrol subsidy. In the first policy directive of his administration, President Bola Tinubu on Monday announced the removal of fuel subsidy. He disclosed this in his inaugural speech as the new President of Nigeria. According to him, subsidy can no longer justify its ever increasing costs in the wake of drying resources. Rising from a crucial meeting, the Group Chief Executive Officer, GCEO, of the Company Mallam Mele Kyari noted that the removal of subsidy on Premium Motor Spirit,…
First inaugural address by President Bola Ahmed Tinubu, 29 MAY 2023 THE NIGERIAN IDEAL My Fellow Citizens, I stand before you honoured to assume the sacred mandate you have given me. My love for this nation is abiding. My confidence in its people, unwavering. And my faith in God Almighty, absolute. I know that His hand shall provide the needed moral strength and clarity of purpose in those instances when we seem to have reached the limits of our human capacity. This day is bold and majestic yet bright and full of spirit, as is our precious nation. As a…
From left: Stevens Olusola, Founder, Vine Heritage Home Foundation; Ene Obi’:Country Director, ActionAid Nigeria and Oladele Akanni, Head, Northern Region – AIICO Insurance Plc at the event in Abuja. Yemisi Izuora There is no better way to celebrate God’s kindness to mankind and obedience to His demand to remember the poor in our midst, other than what AIICO Insurance Plc, did as the world celebrated the 2023 Children’s Day. AIICO Insurance Plc, overtly used the occasion to spread love, hope and inspire the less privileged children to look beyond their circumstances whilst pursuing their dreams. To demonstrate that love and…
Yemisi Izuora The Consolidated Hallmark Insurance, CHI, Plc, has revealed that its profit grew from N1 , 915 , 312 , 119 in 2021 to N2,367,109,763 in 2022. The underwriting firm also disclosed that the total assets of the company was not left out in the impressive performance, at the total assets is now N18,540,741,526 when compared with the N15,674,166,226 of 2021. The Chairman of CHI Plc, Obinna Ekezie at the firm’s 28th Annual General Meeting (AGM) on Wednesday in Lagos, said during the 2022 financial year, the company once again braved all odds in the operating environment and posted improved…
Yemisi Izuora Linkage Assurance Plc, has disclosed Profit After Tax of N2.567 billion fir the year 2022. Also , its Profit Before Tax (PBT) within same period stood at N2.696 billion. The firm also in the 2022 full-year financial results published on NGX Limited, recorded a gross written premium (GWP) of N12.98 billion, as against N11.16 billion in 2021, a 16 percent increase. The underwriting firm also recorded N506.162 million underwriting profit, a growth of 120 per cent when compared with the figure in 2021. With full maximisation of its investment returns, Linkage Assurance saw income from investment boosting bottom-line stronger…
Yemisi Izuora Seplat Energy Plc, has extended agreement to acquire Mobil Producing Nigeria Inc amid pending the resolution of legal proceedings and receipt of regulatory approvals. However, the firm said it remains committed’ to completing the acquisition, adding that the agreement has been revised so that in the event the transaction closes, Exxon Mobil Corp will share in a portion of the value of Mobil Producing Nigeria during the period of delay. The exact amount of this value will depend on ‘a number of factors’, including the amount of oil produced and oil prices. Back in February 2022, Seplat…
Yemisi Izuora Experts have reacted to the hike in interest rate just announced by the Central Bank of Nigeria, CBN. The CBN on Wednesday raised the interest rate from 18 per cent to 18.5 per cent. Reacting to the announcement, Dr. Uju Ogubunka, Chairman Bankers Customers Association, BCA, said with the decision business operators would have challenges accessing funds from banks. Ogubunka told Oriental News Nigeria, that cost of fund would now go up and profit recovery would be challenging and the implication would be retrenchment and low production. However, he said if there is corresponding increase in savings interest…
