Separated from other life insurance by the 2004 Pension Reform Act, group life policies have been the most successful product class driving penetration in recent years and now represent the largest pool of investment assets domestically. With the regulator, the Pensions Commission (PenCom), driving consolidation in the insurance sector in 2012, new...
How have closed-end and exchange-traded funds affected investor confidence and liquidity?
In the second half of July 2012 hopefuls submitted technical and financial bids for 17 of the 18 companies formed from the state-owned Power Holding Company of Nigeria (PHCN). With announcement of the preferred bidders for five out of six generation companies made in September 2012. An accumulated total of over $1bn had been offered for the power...
The year 2012 has been a time of significant change for Nigeria’s insurance sector, as a majority of banks divest from their insurance subsidiaries and underwriters prepare for the transition to new regulations, such as International Financial Reporting Standards (IFRS). The entry of a number of foreign players will likely spur higher growth in the...
In terms of electricity production, Nigeria’s power sector faces many challenges. According to June 2012 remarks by Bart Nnaji, the former minister of power, the Power Holding Company of Nigeria (PHCN), which is being unbundled, had debts of N400bn ($2.56bn). With its own plants gas-fired, PHCN had been paying just 50% of what it owed for that gas...
The fate of Nigeria’s economy has long been intertwined with the trajectory of its single-largest export: oil. As a result, the country is sensitive to the ups and downs of the global crude market, which can have significant repercussions on domestic growth and capital accumulation. Oil prices thus play a crucial role in underwriting both the short-...
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