News
Old Mutual to Invest $600m in Nigeria, Others

Old Mutual Group, a leading insurance firm in world on Thursday said it has concluded plans to invest about $600 million on expansion program in East and West Africa.
Offong Ambah, group chief executive office, Old Mutual West Africa, disclosed this during a media briefing in Lagos, saying Nigeria is a critical part of that expansion strategy.
He said that the company was commitment to replicate in Nigeria the successes the group were known for worldwide.
He said: “The Nigerian economy is developing at a fast pace and offers significant growth opportunities. Old Mutual is seizing the opportunity to be part of this development and we are excited by its prospects.
“Old Mutual is in Nigeria as part of the group’s overall strategy to build a franchise in the West African region.
“The prospects for growth in Africa are strong due to the growing political stability and improved governance, a growing population with strong consumer demand, more workers entering the formal economy for the first time and an emerging middle class keen to protect their wealth and assets. There is also a strong domestic GDP growth in a number of countries and an underpenetrated financial services sector.”
He added that the roll out of Old Mutual Nigeria forms part of the strategic priorities of the Old Mutual group in its expansion drive in West Africa.
Ambah said the company intended to roll out a full range of products in the near future.
“We are in the final stages of acquiring a short-term insurance company (Oceanic General insurance business) which will enable us to provide a broad range of short term and life insurance products to the Nigerian market,” he said.
He noted that the objective is to work with existing insurance companies and the regulator to broaden and deepen the insurance market in Nigeria.
“This we plan to do through the introduction of innovative products, financial education and reaching out to the underserved and un-served segment of the market. A critical part of this, is tackling the scepticism of many Nigerians regarding insurance which we are addressing through the prompt settlement of claims and excellent service delivery amongst others,” said Ambah
He affirmed that Old Mutual Nigeria’s commitment to its group value, stating that it is “committed to being a customer centric company which operates responsibly, provides solutions to address the savings, protection and investment needs of its customers and is supportive of the community in which it operates by contributing positively to its development.”
With more than 168 years’ experience in Africa, Old Mutual, a leading international long-term savings, protection, banking and investment group, prides itself in its rich heritage, industry defining milestones and success in all its businesses. In line with its overall expansion strategy in East and West Africa, Old Mutual achieved another milestone with the roll out of Old Mutual Nigeria Assurance Company, following its full acquisition of majority stake in Oceanic Life from Ecobank
Old Mutual provides life assurance, asset management, banking and general insurance to more than 14 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.
In the year ended 31 December 2012, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £262 billion of funds under management from core operations.
Old Mutual Nigeria Assurance Company (Old Mutual Nigeria), a subsidiary of the Old Mutual group provides a range of insurance solutions tailored to meet our customers’ needs and its product offering are Group Life Assurance & Credit Life Assurance.
On distribution network, the Old Mutual boss said that the company will be establishing more branch network and would use Ecobank branches and other banks as its major channel of distribution to sell insurance.
News
LG Launches “Radio Optimism” Campaign to Spread “Life’s Good” Through Music

LG Electronics has launched a new brand campaign, “Radio Optimism,” designed to help strengthen meaningful human connections and spread optimism through shared musical experiences.
This initiative aligns with LG’s brand promise, “Life’s Good,” and addresses the growing challenge of forming genuine relationships in a technology-driven world.
The Radio Optimism campaign seeks to counteract the disconnection often felt in an era dominated by superficial interactions, such as likes and comments on social media. By harnessing the power of music, LG aims to foster deeper bonds among individuals, promoting a more fulfilling life.
“As technology advances, meaningful human connections become increasingly vital to enrich our lives. LG continues its commitment to bringing optimism into customers’ daily lives, staying true to our enduring brand promise of ‘Life’s Good,’” said Kim Hyo-eun, head of LG’s Brand Management Division.
This campaign reinforces LG’s commitment to creating enriching experiences in digital spaces where today’s consumers spend significant time. Building on this mission, LG has continuously engaged with younger audiences through participatory campaigns that bring the Life’s Good philosophy to life.
Last year’s “Optimism your feed” campaign leveraged social algorithms to foster positivity on social media. This new initiative specifically seeks to address the paradoxical disconnection in an era of hyper-connectivity.
“One of the most reliable predictors of happiness is having deep and meaningful relationships,” said Jean M. Twenge, Professor of Psychology at San Diego State University. “Yet today, many people are spending more time online and less time connecting in person. Social media in particular tends to create shallow relationships rather than the deep connections people need.
“It’s common for people to have hundreds of followers but no one to talk to in real life if they need support. We need to build more meaningful connections with those around us. That might turn around the pronounced decline in happiness that’s occurred over the last decade.”
A new global study* from LG on social connection reveals that 68 percent of people find it harder to make real friends, and a third reported having one or fewer meaningful connections in the past month, with 8 percent experiencing none at all.
Inspired by traditional radio’s unique way of connecting people through music and storytelling, the Radio Optimism campaign transforms this concept into an interactive platform where participants can create and send personalized songs to their loved ones.
Users can easily create new songs using AI-powered tools, which are thoroughly trained on a curated music dataset. These tools interpret user prompts to produce unique musical pieces and generate matching album art, providing an engaging and personalized experience. Once generated, these songs can be sent to recipients to deepen their connection and made available for others to discover worldwide.
According to the survey, nearly 9 in 10 respondents believe that meaningful connections lead to a more optimistic outlook on life. By providing a platform for individuals to express their feelings, this campaign aims to foster deeper connections and help individuals enrich their lives while spreading optimism in their own ways.
The campaign website is available in English and Spanish, with plans to support additional languages in the coming months to enable broader participation. The official website can be found at RadioOptimism.lg.com.
News
Nigeria’s Electricity Output Climbs 10.92% in Q1 2025, Boosted by Thermal Plants

Nigeria’s electricity generation rose by 10.92% in the first quarter of 2025, driven by improved operational capacity and better availability of thermal and hydropower plants supplying the national grid.
This is according to the latest report from the Nigerian Electricity Regulatory Commission (NERC) for Q1 2025.
Total energy generated stood at 10,304.47 gigawatt-hours (GWh), up from 9,289.95 GWh recorded in the previous quarter. The increase highlights stronger performance across multiple power plants, supported by improved grid dispatch conditions.
NERC noted that average hourly generation on the grid also grew by 13.39%, rising to 4,770.59 megawatt-hours per hour (MWh/h) from 4,207.41 MWh/h in Q4 2024—an increase of 563.18 MWh/h.
“The hourly generation and the total generation increased by 13.39% and 10.92% respectively in Q1 2025 compared to Q4 2024. This rise is linked to an increase in the cumulative available generation capacity of grid-connected plants,” the report stated.
A total of 19 power plants boosted their output during the quarter, contributing significantly to the overall rise in generation.
Thermal power plants were the main drivers of growth. Out of the 23 thermal plants connected to the grid, 16 recorded higher average hourly output compared to the previous quarter.
Top contributors included Delta_1, which added 157.58 MWh/h, followed by Geregu_2 (71.95 MWh/h), Egbin_1 (68.20 MWh/h), and Afam_2 (68.03 MWh/h).
Hydropower plants also supported the growth, though at a smaller scale. The five grid-connected hydro stations posted a combined increase of 54.93 MWh/h, marking a 4% improvement. Zungeru_1 led with a 23.55% rise, while Shiroro_1 and Kainji_1 grew by 12.21% and 4.80% respectively.
This first-quarter improvement reflects ongoing efforts to stabilize power supply through better plant maintenance, enhanced grid management, and more consistent dispatch across regions.
However, challenges such as fuel supply to plants, equipment reliability, and high operating costs continue to limit the full potential of Nigeria’s power generation capacity.
News
DBI, Miva Open University Partner to Advance Digital Innovation, Education

Digital Bridge Institute (DBI) and Miva Open University, Abuja, have signed a Memorandum of Understanding (MoU) to jointly promote digital technology and academic excellence in computer science and innovation.

Mr. David Daser, president/CEO, DBI, and Professor Tayo Arulogun, vice chancellor, Miva Open University.
DBI, a Federal Government-owned ICT training institute with headquarters in Abuja and campuses across Nigeria’s six geo-political zones, hosted the signing ceremony at its headquarters.
The MoU marks a significant step in formalizing and strengthening the existing relationship between the two institutions.
Signing on behalf of their institutions were
Speaking during the event, Mr. Daser praised Professor Arulogun’s leadership and commitment to academic development, which he said made the partnership possible. He emphasized that unlike many MoUs that remain inactive, this collaboration is set to deliver tangible results.
“We value this partnership and are confident it will meaningfully contribute to Nigeria’s education sector. DBI is fully prepared to implement the agreement and drive an impact across our campuses in Enugu, Abuja, Kano, Lagos, Asaba, and Yola,” Daser said.
He added that the collaboration would strengthen DBI’s National Innovation Diploma (NID) program and other initiatives through shared resources and new opportunities.
Professor Arulogun, in his remarks, highlighted the need for greater collaboration among Nigerian universities, criticizing the prevalent “do-it-alone syndrome.”
“Many institutions prefer to operate in silos, but collaboration is key. Pooling resources and working together will enhance capacity and academic output,” he stated. “With this partnership, we are ready to hit the ground running from student exchange to joint innovation projects like hackathons.”
He noted that hackathons provide platforms for discovering hidden talents and fostering innovation, and Miva is eager to integrate such activities into its academic programs.
Mr. Emeka Nzeih, head of Learning and Development, DBI, outlined the partnership’s key focus areas: student internships, real-world project collaborations, joint research in fields like AI, robotics, and cybersecurity, and shared access to DBI’s ICT labs and equipment for Miva’s students and faculty.
According to Nzeih, the initiative aims to enhance practical learning, foster innovation, and build capacity through collaborative training, research, and mentorship.
- Telecom1 day ago
MTN Nigeria Debuts Game-Changing CPaaS Platform at NextNow Forum
- Telecom2 days ago
NCC Approves MTN, 9Mobile Roaming Collaboration Deal
- E-Financial1 day ago
NAICOM Issues New Licenses to SanlamAllianz Life, General Insurance
- E-Financial1 day ago
GTCO to Become First Nigerian Bank to List on London Stock Exchange
- E-Financial2 days ago
World Bank Approves Extra $65m for Nigeria’s SPESSE
- News1 day ago
AMCON Confirms ₦100Bn Sale of Ibadan DisCo Amid Legal Disputes
- E-Business1 day ago
Domain of Deception as Attackers Deploy Spyware Under Guise of Legal Threats
- E-Financial2 days ago
Ecobank Taps Google Cloud to Deepen Financial Inclusion