Allianz Nigeria has introduced a Covid-19 travel protection cover to the Nigerian market as an extension of its international travel insurance. The company said that the introduction of the product followed the announcement of the Allianz Risk Barometer 2021 results, which was dominated by the Covid-19 risks of business interruption, Covid-19 pandemic and cyber incidents. Speaking on the product, Managing Director of Allianz Nigeria, Adeolu Adewumi-Zer, said that the Covid-19 travel protection cover offers travelling customers protection against emergency medical expenses associated with a Covid-19 diagnosis while on a trip. The travel plan also covers accommodation costs related to Covid-19…
Author: Temitope N.
Nigerians, and by extension, their businesses, expend about N7 trillion annually on power generation, a Renewable Energy expert, Mr Stephen Ogboko, has said. Ogboko, also the Executive Director and Chief Operating Officer, Off Grid Tech Solutions Ltd., made this known at a virtual news conference in Lagos. He spoke on the theme: “Analysing the Benefits of Technological Innovation.” According to him, this is inefficient, expensive, noisy, polluting and of poor quality. He said that inadequate power supply had been a major challenge facing businesses in the country, forcing them to source for alternative power supply for their operations. The executive…
Cholera cases have continued to be recorded in some states in Nigeria. The Nigeria Centre for Disease Control Director-General, Dr. Chikwe Ihekweazu, listed Bauchi, Plateau, Kano, Niger, Zamfara and Kaduna as some of the affected states. The Federal Capital Territory Minister of State, Dr. Ramatu Aliyu, said 60 persons died of suspected cholera in six area councils, adding that suspected cases had risen to 698. In Plateau State, the disease has killed 21 people and infected 1,144 in two months as of Wednesday. The World Health Organisation described cholera as an acute diarrhoeal infection caused by ingestion of…
A public health expert, Dr. Taiwo Obembe ha cautioned against excessive consumption of alcohol, noting that it increases the threshold of alcohol tolerance and risk of long-term health complications. According to Obembe, alcohol tolerance is the ability of persons to consume larger amounts of alcohol before feeling its effects. Obembe, who is a public health specialist at the College of Medicine, University of Ibadan, explained that regular consumption of huge volumes of alcohol usually increases tolerance level thus making the individual less tipsy or drunk. He explained further that drinking alcohol regularly makes the body get accustomed to it while…
After the two–day holiday to mark the Eid-el Kabir celebration, investors’ renewed appetite in some blue-chip firms, especially in Total and Cutix buoyed transactions on the Nigerian Exchange Limited (NGX) yesterday, causing market capitalisation to increase by N330 billion. Specifically, at the close of trading yesterday, the All-Share Index (ASI) increased by 632.87 points, representing an increase of 1.67 per cent, to close at 38,585.52 points. Similarly, the overall market capitalisation value rose by N330 billion, to close at N20.104 trillion. The improved performance was driven by price appreciation in large and medium capitalised stocks amongst which are, Total Nigeria,…
IMF extends zero-interest loans to low income countries The World Bank Group, yesterday, announced its new Climate Change Action Plan that seeks to deliver record levels of climate finance to developing countries through a series of activities. Apart from funding, the Group will help affected countries to firm up incentives and taxes to support de-carbonisation efforts. The new plan is a follow-up to its first Climate Change Action Plan, which delivered over $83 billion in financing over five years, including a record $21.4 billion in 2020. The new move aims to reduce emissions, strengthen adaptation and align financial flows in…
Organisers of the 2021Propak West Africa conference are hoping that businesses and individuals scheduled to attend the conference will use it to tackle climate challenges. The conference, which holds from September 14 to 21, is the region’s largest packaging, printing, plastics and food processing exhibition. With the theme: “Propak Sustainability Conference: Being Responsible,” organisers note that with the much needed global effort to tackle climate change, the responsibility to promote opportunities and educate on ways to limit the industries impact on the environment is more prevalent than ever, especially as companies navigate their way out of the pandemic. The organiser…
The African telecommunications industry has recommended stepping up regional collaboration on radio spectrum management to make room for the expected growth in terrestrial and space services, and to ensure communities are connected across the continent. Regulators, industry experts and academia met virtually to discuss Africa’s future radio-frequency spectrum requirements in the context of revisions made to the Radio Regulations by the last World Radiocommunication Conference WRC-19 held in Sharm-el-Sheikh. Participants at the ITU Regional Radiocommunication Seminar for Africa (RRS-21-Africa) organised in collaboration with the African Telecommunications Union (ATU), reviewed updates to the Radio Regulations, the key international treaty governing radio…
To achieve stock market stability, investors have urged the government to promote national savings culture through incentives that would ensure improved patronage in the retail segment and increase investment in the market. Besides, they stressed the need for Federal Government to continue to moderate the rate it offers its debt instruments – Treasury bills and FGN bonds, so that portfolio investors will be compelled to look for alternative instruments with better returns such as the equities market. The Nigerian Exchange Limited (NGX) foreign portfolio report confirms the growing apathy to local investment in the capital market. Despite investment opportunities in the…
Government’s failure to revive steel companies and equally develop indigenous petrochemical plants have stalled the local automotive development agenda, leading to loss of $10 billion yearly to large scale importation of fully-built motor vehicles and allied components used for local assembling. For instance, steel accounts for about 60 per cent of raw materials used in automobiles, while petrochemicals are used for plastics and foam used in vehicle interiors. Despite being an oil-producing nation, non-existent refining capacity continues to undermine the country’s capacity to provide feedstock for allied industries. In the alternative, local manufacturers are heavily dependent on imported spare parts,…