Manufacturers deepen local raw materials sourcing, up 11% in 3yrs
By Yinka Kolawole Nigeria’s manufacturing sector recorded a steady increase in the use of locally sourced raw materials between 2021 and 2024, with the share rising from 51.5 per cent in 2021 to 57.1 per cent in 2024, as foreign exchange pressures, naira depreciation and rising import costs pushed manufacturers towards domestic alternatives. Data from […]
Steel imports bleed Nigeria’s economy
Nigeria spent over N1 trillion on steel importation in 2025, according to available data from the National Bureau of Statistics, NBS.
FTSE Russell reclassification, opportunity to deepen Nigeria’s market — NGX Group CEO
The confirmation of Nigeria’s return to FTSE Russell’s Frontier Market universe creates an opportunity to deepen the country’s capital market, broaden international participation and mobilise more long-term capital for Nigerian businesses, Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, has said. FTSE Russell has confirmed that Nigeria’s reclassification from Unclassified to Frontier Market […]
AXA Mansard int’l health plan covers cancer, other chronic conditions
By Rosemary Iwunze AXA Mansard Health’s International Healthcare Plan, iMED, offers Nigerians access to comprehensive medical coverage for cancer, as well as critical medical procedures such as organ and bone marrow transplants, and international emergency medical assistance at leading healthcare facilities in Nigeria, the United States, the United Kingdom and Dubai. According to estimates by […]
We have settled over N2bn in outstanding claims – Fortis Global
By Rosemary Iwunze The Acting Group Chief Executive Officer, CEO, of Fortis Global Group, Mr. Bode Akinboye has said that the company has paid out over N2 billion to retail customers as claims backlog. Akinboye who disclosed this during a chat with insurance journalists, stated that the company is stable to offset all outstanding claims. […]
Five PFAs control pension market, account for 54% of new RSAs
•States still foot-dragging on CPS implementation By Rosemary Iwunze Five Pension Fund Administrators, PFAs, out of 18 licensed operators accounted for 54.41 per cent of new Retirement Savings Account, RSA, registrations in the first quarter of 2026, Q1’26, indicating continued concentration in Nigeria’s pension market. According to the Q1’26 industry report released by the National […]
