President Muhammadu Buhari has ordered chieftains in federal Ministries, Departments and Agencies (MDAs) to prioritize the engagement of Nigerian professionals for planning, design and execution of national projects, stressing that foreign professionals should only be engaged where there is no local expertise. Buhari gave the directive Thursday at the inauguration of the Presidential Monitoring and […]
The catastrophe bond and related insurance-linked securities (ILS) market has reached a new all-time-high as the amount of issuance recorded across a twelve-month period to end of September 2021 A news report by artemis.bm, a leading catastrophe bonds, insurance linked securities, reinsurance capital and investment, risk transfer intelligence firm, indicated that the catastrophe bond market […]
The Minister of Water Resources, Engr. Suleiman Adamu, has said that ongoing partial commercialisation of the nation’s 12 River Basin Development Authorities (RBDAs) is aimed at attracting private sector investments for their revitalization and ensuring efficient service delivery by them. Adamu described the RBDAs asstrategic to the actualization of national food security, jobs and wealth […]
The Federal Government has approved the deployment of the Fifth Generation Network, otherwise called 5G in Nigeria. The Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim (Pantami), had announced the approval after the Federal Executive Council (FEC) meeting on Wednesday during his post-meeting interactions with State House journalists in Abuja. Following the approval, […]
Bauchi State is to benefit from the World Bank’s Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project. The State Commissioner for Environment and Housing, Hon. Hamisu Muazu Shira, who gave this hint while speaking at a stakeholders’ meeting in Bauchi on Wednesday, said the state government would collaborate with all relevant stakeholders in order to successfully […]
The Executive Vice Chairman/Chief Executive Officer of the Nigerian Communications Commission (NCC) Professor Umar Danbatta has listed the benefits of NCC Strategic Vision (Implementation) Plan (SVP) 2021-2025, including the facilitation of broadband penetration, improvement in the quality of service, attracting ICT investments, promoting fair competition as well as strategic collaboration and partnerships Danbatta disclosed this […]
A risk and coverage research conducted by catastrophe risk modeler, Karen Clark & Company (KCC), has estimated that the insurance and reinsurance industry loss from Hurricane Ida will near $18 billion, the large majority of which is attributable to wind and storm surge losses in the U.S. According to the research firm, the estimated industry […]
Catastrophe risk modelling firm, RMS, has estimated that the insurance and reinsurance industry loss from July’s devastating flooding across Europe could be as high as €6.5 billion (US $7.7bn). Industry analysts believe, however, that RMS’s estimate may prove too low as its lower insured loss for Germany is lower than even the country’s own insurance […]
The Nigerian Maritime Administration and Safety Agency (NIMASA) has hinted of its plans to immediately flag-off of an intensive wreck removal exercise in Nigerian waters as part of its statutory responsibility of making the waterways business-friendly and environmentally clean. The agency’s Director General, Dr. Bashir Jamoh, made this disclosure during a ministerial retreat organised by […]
The African Development Bank (AfDB) on Tuesday announced the debarment of Sargittarius Nigeria Limited and its affiliates, including Sargittarius Henan Water Conservancy Engineering Limited, for 18-month effect from 28 July 2021 over contract tender sharp practices. The development finance institution hinged its decision on the Nigeria-registered entity and its subsidiaries on the findings from an […]