By Yemis Izuora-Lagos The Standards Organisation of Nigeria (SON) is exerting energy to improve standardisation with the view to attracting about N20 billion worth of investment into the cable and wire industry to help actualise the country’s dream of diversifying the economy. The standardisation policy, which centres on continual improvement and implementation of specifications for products, has seen the regulatory body successfully reshaping the ceramics, cement, steel and iron industry in recent times. The new N20 billion investment is spearheaded by Coleman Technical Industries, which has pumped N10 billion into the industry, as well as others that have…
Author: orientalnewsng
By Yemisi Izuora-Lagos The Federal Airports Authority of Nigeria (FAAN) has said its new “Passenger Service Portal’’ has the capacity to handle 15 million passengers at the nation’s airports before the end of 2014. FAAN’s General Manager, Corporate Communications, Mr. Yakubu Dati in a statement in Lagos said that with the use of the portal, the authority had so far recorded 12 million passengers. Dati said the introduction of the portal would further bring a turning point to the country’s passenger’s statistics to increase by three million before the end of the year. He said the aviation sector had braced…
By Ijeoma Agudosi-Lagos Professor Pat Utomi has dismissed the austerity measure of the federal government which it put in place in response to the dwindling oil prices describing it as a “Panic Reaction”. He said the response purely demonstrated lack of leadership in the management of public resources by the present adminitration. Also former CommonWealth secretary general, Chief Emeka Anyaoku lack of character and integrity as the bane of Nigeria’s development. Both men spoke on thursday in Lagos at the 18th Center for Values and Leadership (CVL) colloquim in honour of Dr. Michael Omolayole and Chief Chris Ogunbanjo. Utomi said…
By Yemisi Izuora-Lagos The annual Christmas Carol Service of the Chartered Insurance Institute of Nigeria (CIIN) is now a tradition within the Insurance Industry. The 2014 edition of the Carol Service was held at All Saints’ Church, Montgomery Road, Yaba, Lagos. Goldlink Insurance, in its resolve to add more colour to the carol service hosted this year’s edition. The CIIN President, Mr. Bola Temowo described the concept of the Carol Service as a unique platform for celebrating the yuletide, and an opportunity to glorify the Creator for a rewarding Insurance year. The Carol of Nine Lessons was graced by chieftain…
By Yemisi Izuora-Lagos The African Airlines Association has named Ethiopian Airlines as the African Airline of the year. The airline was crowned Airline of the Year at the AFRAA’s 46th Annual General Assembly held in Algiers early this month. A statement from Ethiopian airline said the company was chosen for its exceptional results in 2013, consistent profitability and sound strategy, which had enabled it to forge win-win partnerships with fellow African airlines. It added that this was the third year in a roll that Ethiopian has continued to receive the award from AFRAA. The Chief Executive Officer, Ethiopian Group, Mr.…
By Yemisi Izuora-Lagos The finance minister Ngozi Okonjo-Iweala has said that investment in training and skill development will boost capacity of the insurance sector to create jobs for 100,000 people in the next three years, and to more than 300,000 people in the next decade. Okonjo-Iweala giving this charge while delivering her keynote address at the 2014 Insurance summit with the theme: Transforming the Nigerian Insurance Sector – A three Year Agenda said investment in training and skills development for the sector will prepare the young men and women for careers in the insurance sector. She noted that despite the…
By Yemis Izuora-Lagos The management of FBN Insurance Limited has counselled that insurance is only key instrument to reposition individuals and businesses should any unfortunate situation arose. The company said insurance should be embraced by high net-worth individuals, the political class, schools, religious organisations, professional bodies to sustain themselves when the unexpected occur. Speaking on the benefits of insurance, the company’s Managing Director, Valentine Ojumah, said the FBN Insurance’s strategy is hinged on deepening its footprints in the retail insurance space and expansion into the non-life insurance segment. He said the company is particularly concerned about what happens after death…
By Yemis Izuora-Lagos The Group Managing Director, Royal Exchange Assurance Plc, Mr. Allan Walmsley has asked insurance operators to take advantage of huge potentials presented by the industry to develop strategies to boost their businesses. Presenting a paper in Lagos he said that,with a penetration rate of less that 1 per cent, the industry boosts of a huge untapped market for the insurance industry and a massive opportunity for insurance companies of the likes of Royal Exchange and others. The huge untapped market is fortuitous especially in the context of the recent consolidation in the insurance industry, he said. Speaking…
By Yemis Izuora-Lagos The Managing Director/Chief Executive Officer (CEO) of Avon Healthcare Limited, Adesimbo Ukiri has tasked stakeholders in the health insurance industry to be more customer focused, develop consumer insights and introduce health plans that speak to the different needs of Nigerians’ teeming population. Ukiri who made the call while speaking at the recent Roundtable on Healthcare Financing in Lagos acknowledged that whilst this legislation remained key to achieving Universal Health Coverage (UHC) for Nigeria still a lot need to be achieved in terms of improving penetration levels even ahead of the promulgation of the NHIS bill into law.…
By Yemisi Izuora-Lagos Management of Mansard Insurance has said its building afected by fire outbreak on Aboyade Cole Street, Victoria Island, Lagos caused no casualty or serious injuries to anyone. The company also made it clear that the building is insured by a consortium of some of the leading insurance companies in Nigeria. Broll Properties Limited is the facility manager of the building. The management said in a statement that “On Tuesday, December 9, 2014, there was a fire incident at our commercial property, Mansard Place located at Plot 927/928, Bishop Aboyade Cole Street, Victoria Island, Lagos. “Eyewitness accounts suggest…