News
NAICOM Reinforces Policy to Insure All Public Buildings
The National Insurance Commission (NAICOM) has reinforced the need to embark on measures to enforce government’s policy on insurance of public building in the country.
Alhaji Sabiu Bello Abubakar, Deputy Commissioner for Insurance, Technical, said the provision of Section 65 of the Insurance Act 2003, specifically stipulates that all public building shall be adequately insured.
Speaking at the sensitisation workshop for Federal and State Fire Service on the insurance of public buildings and buildings under construction, he added that Section 64 of the Act also provided that all buildings under construction above two floors be adequately insured.
He explained that the essence of insurance of public buildings and buildings under construction was to cushion the impact and reduce the burden and liabilities that the owner/government would have to bear in likely occurrences of catastrophic events including natural disasters, fire, accidents, building collapse, injuries or death to third parties, among others.
This, he said, would thereby saving the government money which could be channeled towards augmenting the needs of the citizenry, providing infrastructure, and creating employment, among others.
Hence, Abubakar pointed out that the workshop was aimed at sensitising fire service officers on the importance of insurance of public buildings and buildings under construction.
He added that the workshop was being convened as part of ongoing efforts to apprise participants of their roles in enforcing the insurance of public building and building under construction above two floors.
He said the commission could better achieve compliance with with the full cooperation of the federal and state fire service.
He said: ”It is the desire of NAICOM to change this narrative for good…As follow-up to the success of previous nationwide awareness campaigns for compulsory insurance, NAICOM is moving the bar a notch higher.
“Therefore, this sensitisation workshop is aimed at equipping Fire Service Officers with the necessary knowledge to properly enforce the insurance of public buildings and buildings under construction above two floors.
“At the end of this Workshop, it is expected that Federal and State Fire Service officers will now have the knowledge of insurance of public buildings.”
He said, “NAICOM is elated at this turnout notwithstanding the prevailing circumstances in the country.
“We are quite sure of a much better participation in the next batches lined up to educate Officers of Fire Services of their responsibilities and the benefits inherent if public buildings are adequately insured.”
Bosun Tijani, minister for Communication, Innovation and Digital Economy, has stated that the federal government is geared towards creating about one million technology jobs for teeming Nigerian youth.
Tijani stated this at the official opening of a solar-powered community ICT center built by the National Information Technology Development Agency (NITDA) in Abeokuta, as part of activities marking the 38th Lisabi festival.
The minister emphasised the commitment of President Bola Tinubu’s administration to invest in the digital economy, driving inclusive growth and empowering the country’s teeming youth population.
“The president made it very clear when I came into office, that he will spend efforts and resources in creating one million technology jobs. So, for anybody that is following the development in the world today you will see that there’s no world without technology.
“There is a strong shortage of technology workforce all over the world, and while a lot of the developed countries have ageing population, and not giving birth to kids, in Nigeria, the average age is 16.9, so our young people are being projected to be the workforce of the future, not only for Nigeria.
“This center here is one of many. In the next two months, we are launching about 30 of them all over the country. This center will be properly animated and we will put resources into ensuring that there are courses for young people to come and take here.
“We are also going to ensure that there are job opportunities that we can connect them to and if anyone wants to follow, follow the three million Technical Talent Program which we have started already in the country”, he said.
He therefore charged the youth to remain focus, and not be discouraged, adding that there is massive employment opportunities in technology as there is no enough people to work in technology all over the world.
“If you ask anyone that works in technology, the entry salary is between N350,000 to N500,000. Technology pays really well, so instead of worrying about things being hard, they should take advantage of centers like this, empower themselves and go for the opportunities the world has to offer them”, he added.
Speaking earlier, Oba Adedotun Are, Alake and Paramount ruler of Egbaland, lauded President Tinubu for approving the centre in Abeokuta, saying that this has no doubt marked another new dawn for the people of Egbaland, given rapid growth, development, and economic empowerment of the people.
National Institute for Policy and Strategic Studies (NIPSS) has predicted that the price of Premium Motor Spirit (petrol) will decline as Dangote Refinery and other local refineries commence full operations.
Speaking on Channels Television on Tuesday, April 1, NIPSS Director-General Ayo Omotayo expressed optimism that fuel prices would fall once more refineries become operational.
He projected that petrol prices could drop to around N750 per litre before the end of the year with a more stable exchange rate.
“We’re looking at it coming down as low as N750 before the end of the year. And of course, foreign exchange will still drop to about 1.3 before the end of the year, and it is going to continue like that as more of our refineries come into place.
Omotayo acknowledged the current economic hardships but insisted that the policy would benefit Nigerians in the long run.Traditional Nigerian cuisine
“The gains at this time are very little, but in the long run, we will make up for whatever sacrifices we have made today as Nigerians” he stated
U.S. President Donald Trump has stated that a deal for the sale of TikTok’s U.S. operations is expected to be finalized before the April 5 deadline.
U.S. President Donald Trump
The deadline, set by legislation passed in January, mandates TikTok’s Chinese parent company, ByteDance, to divest its U.S. assets or face a nationwide ban due to national security concerns.
Multiple non-Chinese firms have expressed interest in acquiring TikTok’s U.S. operations.
Private equity firm Blackstone is considering a minority investment, potentially joining existing non-Chinese shareholders such as Susquehanna International Group and General Atlantic.
In a strategic move to facilitate the sale, Trump suggested that he might consider a reduction in tariffs on China, acknowledging that Chinese regulatory approval may be required for the deal to proceed.
The White House has been actively involved in negotiations to ensure that TikTok remains operational in the U.S. while addressing national security risks.
With TikTok’s 170 million American users watching closely, the outcome of the sale is expected to have a major impact on the social media landscape and the broader tech industry.
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