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Nigeria Needs N1trn For Efficient Electricity Transmission – TCN

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By Agency Report

The Transmission Company of Nigeria has said Nigeria requires nothing less than N1tn to effectively wheel electricity through the national grid.
The Executive Director, Transmission Service Provider, TCN, Victor Adewumi, said this at the 52nd Power Dialogue of the Nigeria Electricity Hub on which held online in Abuja on Wednesday.

He said TCN would require the sum to make the country’s power grid stable, adding that the $1.6bn which the transmission company was getting from international agencies would not be enough to stablilise the grid.

When asked to state how much would be needed to get the grid to transmit electricity effectively, Adewumi replied, “Simply put, TCN requires nothing less than N1tn to make the grid to be very stable.

“For the project that TCN is financing internally, relying on our IGR (Internally Generated Revenue) and the Federal Government budget system, TCN requires nothing less than N600bn. way that even the Federal Government can provide this kind of fund.”

He said investors were invited to come and fund some of the projects in TCN, as they would recoup their investments over time.

Adewumi said, “So the alternative way is to look at project financing, where those who have the money can come to TCN and finance probably the transmission lines and then look at the cost of energy to be wheeled on that line, spread it over a period of time and then get their money back.

He said, “But with the current kind of fund that is entering TCN, there is no way TCN can embark on that.
“This is because the Discos are not giving us the required money; we are getting less than 60 per cent of TCN tariff.

He added, “That is even after the Nigerian Electricity a Regulatory Commission forced them to do it.”

He, however, stated that the Discos would not receive all the blame as many power users were involved in electricity theft.

 

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Leadway Health HMO Wins Award Again

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Leadway Health HMO has been honoured with the Health Maintenance Organisation (HMO) of the Year award at the Nigerian Healthcare Excellence Awards (NHEA) for the third consecutive year.
This achievement affirms Leadway Health HMO’s position as a consistent leader in delivering innovative, accessible, and customer-focused healthcare solutions across Nigeria. Leadway Health HMO set a new record, one that has never been achieved in the 15-year history of the NHEAwards.
The award, presented in Lagos recently, 2025, celebrates the organisation’s excellence in service delivery, technology integration, unmatched service delivery, and its expanding provider network.
Speaking on this achievement, Chief Executive Officer, Leadway Health HMO, Dr. Tokunbo Alli, stated, “Receiving the HMO of the Year award for the third consecutive year is a deeply meaningful milestone for us at Leadway Health HMO. It is more than an accolade; it is a resounding validation of our commitment to transforming healthcare delivery in Nigeria, Africa, and the world at large.
“In a country where fewer than one in ten people have access to health insurance, we recognise the immense responsibility we carry. Through our investment in digital innovation, operational efficiency, and inclusive health plans, we are not only improving access to quality care but also setting new benchmarks for service excellence within the industry. This recognition reflects the trust our customers place in us and the unwavering dedication of our team and partners who make our vision a reality every day.”
Alli added, “We will continue to scale our hospital partnerships, enhance claims transparency, and leverage technology to deliver even more accessible, affordable, and customer-centric healthcare solutions. This award strengthens our resolve to be at the forefront of Nigeria’s health transformation journey—driving meaningful change, one life at a time.”
Leadway Health HMO’s triple win comes at a time when trust and performance in the HMO sector are under scrutiny. With a growing population, rising healthcare costs, and a national goal of achieving Universal Health Coverage (UHC) by 2030, the company’s performance positions it as a crucial stakeholder in driving Nigeria’s health transformation agenda.
The Nigerian Healthcare Excellence Awards, founded in 2014 by Global Health Project and Resources in collaboration with Anadach Group USA, is the industry’s most respected recognition platform. This year’s edition was themed “Collaborating for Impact: Strengthening Health Systems through the SWAP Approach”, emphasising unified efforts to drive change.

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NAICOM Charges Operators To Ignite Nationwide Conversation About Power Of Insurance

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The National Insurance Commission (NAICOM) has enjoined insurance operators to ensure that they ignite a nationwide conversation about the power of insurance as the inaugural edition of Insurance Week holds across the country.

The Commissioner for Insurance and Chief Executive of NAICOM, Olusegun Omosehin who spoke in Lagos on Monday, affirmed that the Insurance Week is designed to raise national awareness about the vital role of insurance in Nigeria’s growth and development.

To truly secure Nigeria’s future, he pointed out that “we must educate the public on the benefits of insurance, develop products that meet the needs of all Nigerians, wnsure prompt and transparent claims processing, as well as invest in talent and technology to drive innovation and trust.

At NAICOM, he said the regulatory body is committed to building a strong, inclusive, and globally respected insurance industry, and has been driving reforms to strengthen consumer protection, promote digital innovation, ensure capital adequacy and sound governance, while expanding access to underserved communities.

On why insurance matters, he stated that “In today’s fast-changing world, risks are everywhere—economic shocks, natural disasters, health crises, and more” adding that these uncertainties can disrupt lives and derail national progress.

“Insurance is our shield. It helps individuals, businesses, and governments manage these risks, recover from losses, and build resilience.
Without insurance, your economy would be more vulnerable, and our people less secure. That’s why this year’s theme, “Insurance for All: Securing Nigeria’s Future,” is both timely and essential” he emphasised.

Omosehin maintained that “The future of Nigeria depends on how well we manage risk. Every decision—whether by individuals, businesses, or government—carries uncertainty. Insurance provides the tools to navigate these uncertainties and protect our collective future.”

The NAICOM boss further urged the nsurance operators to renew their commitment to building an industry that serves the people and supports national development and use every platform—media, schools, communities, and workplaces—to spread the message that insurance is not a luxury; but a necessity.

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Gambian Delegation Visits NAICOM To Understudy Regulatory Approach

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L-R Nyang Madeleine Gomez, Compliance Officer, Central Bank of Gambia, Dr. Usman Jankara, NAICOM Deputy Commissioner, Technical, Drammeh Alieu, Senior Insurance Compliance Officer, Central Bank of Gambia and Mr. Ekerete Ola Gam-Ikon, NAICOM Deputy Commissioner, Finance and Administration, when the Gambian delegation visited NAICOM in Abuja on Monday.

By Sola Alabadan

A delegation from the Central Bank of The Gambia, led by Mr. Nyang Medeleine Gomez, paid a working visit to the National Insurance Commission (NAICOM) on Monday in Abuja, with the aim of fostering regulatory collaboration and exchanging knowledge in key areas of insurance supervision.

The primary focus of the visit was to study Nigeria’s regulatory approach in three critical areas:

*Risk-Based Supervision
*Prudential Frameworks
*Inclusive Insurance

The delegation was received by the Deputy Commissioner for Technical, Dr. Usman Jankara, and the Deputy Commissioner, Finance and Administration, on behalf of the Commissioner for Insurance, Mr. Olusegun Omosehin,
Mr. Ekerete Ola Gam-Ikon expressed NAICOM’s readiness for collaboration and mutual learning.
He described the engagement as a “knowledge-sharing visit,” noting that “no one regulator has all the answers,” and emphasized the importance of peer-to-peer learning in enhancing regulatory capacity across Africa.

In his remarks, Mr. Gomez explained that the visit was intended to:

* Understanding NAICOM’s implementation of a risk-based supervisory system to ensure a stable and resilient insurance sector

* Exploring strategies for expanding insurance access to underserved and low-income populations through inclusive insurance frameworks; and

* Learn best practices in prudential regulation to safeguard policyholders’ interests and uphold public confidence in the insurance market.

In his response, Dr. Jankara reaffirmed NAICOM’s commitment to supporting the Gambian delegation across all areas of interest.
He emphasised that Nigeria’s regulatory framework has evolved significantly, especially in corporate governance, where the Commission has moved from basic compliance to robust enforcement mechanisms.
He further noted that the newly passed Insurance Regulatory Bill, once it receives presidential assent, will contribute meaningfully to the current administration’s goal of achieving a one-trillion-dollar economy.

Dr. Jankara also highlighted NAICOM’s progress in promoting financial inclusion, citing the successful licensing of 15 microinsurance companies and 6 Takaful insurance providers, milestones that reflect growing insurance penetration. He assured the visiting delegation that NAICOM would share its operational templates and regulatory manuals through the appropriate directorates, while continuing engagement with key departments, including Inspectorate, Supervision, and Innovation & Regulation.

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