Connect with us

National News

FSD Africa, NAICOM Partner on BimaLab

Published

on

FSD Africa, NAICOM Partner on BimaLab

FSD Africa, NAICOM Partner on BimaLab

By: Michael Mike

Financial Sector Deepening (FSD) Africa and Nigeria’s National Insurance Commission (NAICOM) have partnered to launch BimaLab, an accelerator programme designed to boost the development and adoption of digital solutions for the insurance sector.

BimaLab Nigeria aims to address gaps in the insurance market by educating, nurturing and promoting innovators and Insurtech start-ups. The programme will borrow from Kenya’s BimaLab I, BimaLab II and global best practices with a focus on local experience to provide Nigeria with the most competitive and attractive start-up accelerator programme.

Ten companies will be selected to participate in the ten-week programme that will provide them with the expertise, resources, and support to develop and scale market-ready solutions that bring social and/or commercial value to Nigeria’s insurance sector.

Across the continent, little knowledge of the insurance industry coupled with low income has affected the rate of insurance penetration in the mass market. Yet, a recent report by Deloitte indicates that affordable insurance products play a crucial role in mitigating the effects of negative financial shocks and in doing so reducing financial vulnerability.

Also Read: 2023 Politics: How Senator Kashim Shettima is winning PDP…

To widen insurance coverage, FSD Africa has recently rolled out a similar accelerator programme in Ghana (InnoLab). The solutions being supported through the accelerator programmes will be expected to also speak to the needs of populations beyond their borders of origination.

Among the success stories from previous BimaLab Accelerator programmes include Bismart, a Kenyan insurance agency that has partnered with Britam to launch a short-term school fees insurance cover called Elimu Smart. The cover protects school-going children from dropping out of school in the event their parent or guardian becomes critically ill or dies, safeguarding the future of the children even in cases of incidents.

Commenting on the launch of the BimaLab Accelerator Programme, Kelvin Massingham, Director – Risk and Resilience, FSD Africa said: “We believe that this programme will enhance the development of a vibrant ecosystem of start-ups; through collaboration with corporate partners, investors and research institutions to accelerate and scale innovation in the insurance industry in Nigeria. We have successfully implemented the programme in Kenya, and are commencing the same in Ghana.”

On his part, Commissioner For Insurance/CEO National Insurance Commission (NAICOM), Mr. Thomas Olorundare Sunday, said: “As a key driver of change in the financial sector, innovation has led to immeasurable efficiency and gains. Even though these changes can sometimes be accompanied by uncertainty and hesitation, there is evidence of great success. I have no doubt that with such collaborations, Nigeria is set to be a successful case study on insurance innovation across the continent.”

UK’s Deputy High Commissioner in Lagos, Ben Llewellyn-Jones, in his comment, said: “As a result of COVID-19’s negative impact and the resulting need for improved resilience against economic shocks, innovative insurance becomes increasingly important in addressing emerging vulnerabilities among businesses and households. The UK government has long been enthusiastic about leveraging technology and innovation as major vehicles for making impact and supporting the Nigerian government so the partnership between UK Aid funded FSD Africa and the National Insurance Commission (NAICOM) is crucial in fostering the development of an Insurtech ecosystem that focuses on growth, inclusion, and strategic alliances.”

Meanwhile applications for BimaLab Nigeria are now open on https://bimalab-nigeria.azurewebsites.net/. The deadline for submission is 23 February 2022

FSD Africa, NAICOM Partner on BimaLab

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National News

ECOWAS @50: Media Remains Partner, Pillar of Democracy, Peace, Security-Touray

Published

on

ECOWAS @50: Media Remains Partner, Pillar of Democracy, Peace, Security-Touray
…Unveils 7-member jury for media award

By: Michael Mike

The Economic Community of West African States has emphasized the important role the media has played in shaping the regional body in the last 50 years as it institutes a media excellence award to honour journalists.

This is as the regional body has unveiled a seven member jury for its maiden ECOWAS Journalistic Excellence Award.

ECOWAS was set up in May 1975 as an economic bloc to foster trade and free movement amongst member states, with the aim of improving the lives of its citizens.

It has lined up various activities to mark the Golden Jubilee Celebration and the media award, is one of such.

Speaking at the unveiling of the jury, Dr. Omar Touray said that the media remained a strong partner and pillar in the regional body’s journey towards promoting democracy and good governance, peace and security, regional integration, and overall development and welfare of the community citizens.

Touray who was represented by his Special Advisor, Economic & financial integration and partnerships, Mr. Mambury Njie, stressed that Journalists in West Africa are not merely chroniclers of events but educators, mentors, nation leaders.

He said: “Over the last 50 years, the media has remained a strong partner and pillar in our journey towards promoting democracy and good governance, peace and security, regional integration, and overall development and welfare of our community citizens.

“As we mark 50 years of ECOWAS, it is imperative for us to recognise and celebrate the journalists who have shaped our collective memory and those who have supported our challenges, championed our successes, and given voices to our aspirations.”

He added that: “The ECOWAS Media Excellence Award launched as part of our Golden Jubilee Celebration is more than a commission of journalistic achievement. It is a reaffirmation of our commitment to fostering a free, dynamic, and responsible media landscape, one that promotes regional integration, democratic governance, peace, and development.

“Journalists in West Africa are not merely chroniclers of events, they are educators, mentors, and nation leaders.”
He noted that in this digital age, where apps often copy misinformation, “it is imperative that we recognise and celebrate those who report with integrity, accuracy, and courage.”

Touray also tasked members of the jury to uphold the highest standards of evaluation, guided by the principles of objectivity and impartiality.

He added that merit should be upheld while applying a rigorous assessment approach to each entry with fairness and consistency.
“These hours are not just accolades, they are part of a legacy we are building for the next 50 years in our community. And that legacy begins with your dedication to identifying and honouring the best of West African journalism,” he added.

The award, according to the Director of Communication, ECOWAS Commission, Joel Ahofodji is instituted as part of the regional body’s 50 anniversary programme.

The categories are print, television, radio, online and photography.

Ahofodji said it aimed at celebrating the media who have been reporting the affairs of the commission.

The jury is headed by Prof. Abdoulie Gassama, a Gambia veteran journalist and academia, is expected to review entries by the journalists and pick the eventual winners.

Other members of the jury are Dr. Adrienne Diop- Senegal; Paul Douakoutche- Benin Republic; Ms Filomena Silva- Cape Verde; Bamba Mafoumgbe- Cote d’Ivoire; Dr. Ibrahim Mohammed Awal- Ghana; Mrs. Yemi Kolapo -Nigeria.

Ahofodji outlined the principles that should be followed in the selection process to include, the impact of the write ups, originality and quality.

He added that: “Our ambition is to make this event an annual activity that ECOWAS launches to build loyalty among the African media, but also and above all to encourage journalists to take an interest in its major achievements and its development programmes, which have a positive impact on the lives of the people of our member states.”

The Chairman of the jury, Prof. Gassama assured the commission that the team will do its utmost best to carry out its assignment.

He said: “We are tasked with recognising and celebrating those who have demonstrated exceptional skill, creativity and commitment to their craft.

“We, as a seven-member jury, represent a diverse range of expertise and perspectives within the media landscape. This diversity is our strength, ensuring a comprehensive and fair assessment of the entries before us.”

ECOWAS @50: Media Remains Partner, Pillar of Democracy, Peace, Security-Touray

Continue Reading

National News

VP Shettima Flags Off Construction Of Special Agro-Industrial Processing Zone In Kaduna

Published

on

VP Shettima Flags Off Construction Of Special Agro-Industrial Processing Zone In Kaduna

** Says project a presidential priority to industrialise agriculture, create jobs across Nigeria

By: Our Reporter

Vice President Kashim Shettima on Tuesday in Kaduna State performed the groundbreaking ceremony for the construction of Phase 1 of the Special Agro-Industrial Processing Zone (SAPZ), declaring it a strategic milestone in President Bola Ahmed Tinubu’s plan to industrialise Nigeria’s agriculture sector and create sustainable jobs across the country.

The SAPZ is part of a larger national programme, with Kaduna, Kano, Kwara, Cross River, Imo, Ogun, Oyo, and the Federal Capital Territory (FCT) among states in the first phase of the project.

Aimed at transforming Nigeria’s agriculture through innovation, private-sector investment, and strategic public partnerships, the zones are designed to create agro-industrial hubs that integrate farmers with processors, reduce post-harvest losses, and expand rural economic opportunities.

Addressing dignitaries and stakeholders at the vast expanse of land designated for the facility in Daki-Takwas, along Kaduna -Abuja, Expressway, Chikun Local Government Area of Kaduna State, VP Shettima described the SAPZ as a “presidential priority project” and a direct response to the longstanding challenges facing Nigeria’s agricultural value chain, including poor infrastructure, limited access to markets, and low value addition.

He expressed confidence that the initiative would catalyze economic growth by creating thousands of jobs and empowering Nigerian youths.

“We are not just breaking ground. We are building the infrastructure to feed our people, empower our youth, and fulfil the economic promise of our nation.

“This is not just about bricks and mortar. It is about people. t is about the resilience of our farmers, the ingenuity of our entrepreneurs, and the commitment of our government to build a future that works for everyone,” the Vice President said.

The VP noted that while the nation cannot afford to be chained to outdated systems while the world moves with urgency towards innovation, the SAPZ initiative is a strategy that “lays the foundation for real economic transformation.”

Senator Shettima praised the Kaduna State government for its leadership in agriculture, describing the state as a key driver of Nigeria’s agro-industrial future due to its abundant arable land and historical role in agricultural production.

“Kaduna is not a stranger to agricultural leadership. What we are starting here today will become a model for other states to follow,” he said.

The Vice President also stressed the importance of involving young Nigerians in the agricultural revolution, noting that the SAPZ would generate thousands of jobs and equip the youth with the skills to become active players in the economy.

“The youth of Nigeria must not be spectators. They must be stakeholders and shapers of their own futures,” he said.

The SAPZ programme is being implemented with support from international development partners, including the African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the International Fund for Agricultural Development (IFAD).

Earlier, Kaduna State Governor, Senator Uba Sani, described the SAPZ as a strategic investment designed to accelerate industrial development across Nigeria.

He said, “The SAPZ is a huge investment designed to position Kaduna State as a major player in Nigeria’s industrial development. The administration of President Bola Ahmed Tinubu has demonstrated an unwavering commitment to Nigeria’s economic development.”

Governor Sani emphasised agriculture’s central role in Kaduna’s economy, saying it contributes 42% to the state’s GDP and employs 60% of the state workforce.

“In the 2023 budget we inherited, agriculture received just ₦1.4 billion. However, in 2024, we increased it to ₦23.4 billion, and in 2025, we have approved ₦74.2 billion,” he said.

Also, President of AfDB, Dr. Akinwumi Adesina, applauded Kaduna’s commitment to the actualisation of SAPZ, highlighting the significance of agricultural industrialisation in the state’s economic growth.

He said, “Your passion for agriculture is impressive, and agricultural industrialisation remains the fastest way to develop the vast areas of Kaduna State. It has taken us eleven years to get here, and I am delighted that we are finally here.”

Dr. Adesina revealed that the AfDB has committed over $934 million towards the SAPZ programme across Africa, with an additional $938 million mobilised from partners.

He said the initiative is currently being implemented in 27 sites across 11 countries, including Côte d’Ivoire, Ethiopia, Senegal, and Madagascar.

Also, Minister of Agriculture and Food Security, Senator Abubakar Kyari, described the initiative as a turning point in Nigeria’s agricultural history.

“This programme will be a game changer. It is designed to attract private sector investment in agro-industrial processing, drive value addition, and enhance rural development. It will strengthen Nigeria’s agricultural ecosystem to respond favourably to the challenges of our time,” the Minister said.

For his part, the Emir of Zazzau, Ambassador Ahmed Nuhu Bamalli, expressed deep appreciation for the project on behalf of the people of Kaduna State.

“We are indeed very grateful for this project. On behalf of the people and government of Kaduna State, we express our profound gratitude,” the royal father stated.

Dignitaries who attended the event included former Vice President Namadi Sambo; Deputy Governor of Kaduna State, Dr Hadiza Sabuwa Balarabe; Minister of Environment, Balarabe Lawal; Minister of State for Industry, Trade, and Investment, Sen. John Enoh; members of the National Assembly, Deputy Chief of Staff to the President (Office of the Vice President), Sen. Ibrahim Hassan Hadejia; representative of the Minister of Finance; members of Kaduna State Executive Council and State Assembly, and National Project Coordinator of SAPZ, Dr Kabir Yusuf, among others.

VP Shettima Flags Off Construction Of Special Agro-Industrial Processing Zone In Kaduna

Continue Reading

National News

ActionAid Demands Immediate Release of Arrested Protesters and an End to Brutal Crackdown on Peaceful Citizens

Published

on

ActionAid Demands Immediate Release of Arrested Protesters and an End to Brutal Crackdown on Peaceful Citizens

By: Michael Mike

ActionAid Nigeria (AAN) has urged President Bola Ahmed Tinubu to immediately direct the Nigerian Police Force to end its reign of repression and ensure the unconditional release of all arrested citizens during the protest in parts of the country.

The organisation, through its Country Director, Andrew Mamedu said it is outraged by the shocking and violent crackdown on peaceful protesters in Abuja, Port Harcourt and other parts of Nigeria on Monday, April 7, and Tuesday, April 8, 2025.

Mamedu said the protests, led by the Take-It-Back Movement, were driven by rising anger over the unlawful declaration of a state of emergency in Rivers State; the misuse of the Cybercrime Act to silence dissent; and unbearable economic hardship plaguing Nigerians, insisting that these are legitimate grievances, not crimes. Yet, the government has responded with force, and arrests.

Mamedu added that “the directive issued by the Nigerian Police to stop the protest on the grounds of ‘National Police Day’ is outrageous, unconstitutional, and entirely unacceptable. The Nigerian Constitution guarantees every citizen the right to peaceful assembly and expression and no police memo can override that. This attempt to suppress dissent is not only unlawful but also deeply cowardly.”

Mamedu noted that: ‘‘Rather than addressing the nation and engaging with young people, the Nigerian Police responded with tear gas and unlawful arrests of peaceful demonstrators. The President and the Nigerian Police must understand that citizens will not tolerate this abuse of power. It is a direct assault on democracy. How many more people does this government plan to arrest if millions take to the streets? Do they plan to crush every voice demanding a better future. The heavy-handed response to these protests dangerously mirrors the brutality of the now-defunct SARS unit.

“The Nigerian government must remember the events of the #EndSARS protests, when young Nigerians rose in unity to reject police violence and impunity. The citizenry will not allow the nation to take that path again. Now is the time for the President to engage in meaningful, public dialogue with protest leaders and civil societyorganisations to address the real issues behind these protests’’

ActionAid Nigeria demanded the: Immediate and unconditional release of all arrested protesters; An end to the use of force, intimidation, and tear gas against peaceful citizens; Full respect for the constitutional right to protest, speak, and assemble; and Immediate investigation and accountability for all acts of violence or abuse by security forces.”

ActionAid Demands Immediate Release of Arrested Protesters and an End to Brutal Crackdown on Peaceful Citizens

Continue Reading

Trending

Verified by MonsterInsights