CBN pumps $1.25bn into fuel import, others

CBN headquartersThe Central Bank of Nigeria has released a total sum of $1.259bn to oil sector players for the importation of petroleum products and other related items into the country, The PUNCH reports.

The amount released between the first three months of 2025 is against the backdrop of the insistence of marketers to continue fuel import despite the availability of petrol from Dangote Refinery.

According to fresh data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Petroleum marketers imported 69 per cent of the 21 billion litres of petrol Nigerians consumed between August 2024 and the first 10 days of October 2025.

Between January and March 2025, a total of 2.28 billion litres of petrol were imported despite improved refined product output from the Dangote refinery.

Fuel imports, a significant consumer of foreign exchange, impact the country’s foreign reserves and the naira-to-dollar rate.

The volume represents one of the lowest quarterly import figures in recent years, reflecting the gradual shift towards local refining and blending of petroleum products.

A breakdown using the Central Bank of Nigeria’s quarterly statistical bulletin for the first quarter of 2025, the apex bank released a total of $1.26bn for import transactions between January and March.

A month-by-month breakdown showed that $457.83m was disbursed in January, representing 36.2 per cent of the total.

This dropped sharply to $283.54m in February, accounting for 22.5 per cent, before rebounding to $517.55m in March, which made up the largest share at 41.3 per cent of the total forex released for the quarter.

While NMDPRA data showed that the January imports stood at 724.5million litres, while 760 million litres and 803.7 million litres were brought in during February and March, respectively.

The struggle for market share between the Dangote Petroleum Refinery and fuel-importing marketers has intensified in recent months, as both sides compete for dominance in Nigeria’s downstream sector.

It could be recalled that while some marketers have insisted on importation, the Dangote refinery has been exporting petrol to other countries, including the United States. The 650,000 refinery has consistently boasted of its capacity to meet local fuel demands while exporting to foreign countries.

However, pricing has remained the major determinant for marketers when choosing a supplier, amid growing competition between the Refinery and fuel importers. Many operators in the downstream sector shift allegiance based on cost advantage rather than source.

Confirming the development, the National Publicity Officer of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said marketers would naturally buy from any source offering the lowest price to stay in business.

Ukadike explained in an interview, “In this business, pricing is everything. Marketers will always go for the most affordable option because our margins are very thin. If imported products are cheaper, we have no choice but to patronise importers. But if Dangote’s refinery offers a better price, of course, we will buy locally.”

He added that the price gap between locally refined products and imports fluctuates depending on global oil prices, exchange rates, and government policies.

“No marketer can afford sentiment when it comes to survival,” he said. “Our decision is driven by economics, not emotion.”

Meanwhile, the latest Energy Bulletin released by the Major Energies Marketers Association of Nigeria has shown a further reduction in the estimated import parity price of key petroleum products, reflecting sustained pressure from global oil prices and exchange rate fluctuations.

According to the report, the estimated import parity price of Premium Motor Spirit has reduced to N805.46 per litre at the spot rate.

Seplat energy JV empowers Edo, Delta students with N18m

The Seplat Energy Plc, in partnership with its Joint Venture partner, the NNPC Exploration and Production Limited, has empowered Edo, Delta students with N18 m.

The firm made the disclosure shortly after the grand finale of the 2025 edition of the PEARLs Quiz competition for secondary schools across Edo and Delta States on Saturday in Asaba, the Delta State capital.

The Pioneer Education Centre, Edo State, emerged winner and took home the N10m prize money, while second and third placed schools, Notre Dame College, Uzoro, Delta State and Eucharistic Heart of Jesus Model College, Benin, Edo State, received N5 m and N3 m, respectively.

The PEARLs Quiz, which stands for Promoting Exceptional and Respectable Leaders, is one of Seplat Energy JV’s flagship Corporate Social Investment initiatives geared towards the promotion of academic excellence, nurturing critical thinking, and inspiring the next generation of leaders.

In her opening remarks, the Director of External Affairs and Social Performance, Seplat Energy, Chioma Afe, represented by Hadiza Garbati, General Manager, Government Relations, Seplat, welcomed the governments of Delta and Edo States and congratulated all the participants, particularly those who made it to the grand finale.

The initiative, she pointed out was conceived for promoting exceptional and respectable leaders, dating back to 2012, which has seen Sepalt remain active in host communities and helping to foster students in the right direction.

She noted that by the quality of participation in this year’s edition, the students have demonstrated that the initiative is already bearing fruit by nurturing young people. “A school might be going home today with the prize, but all of you are already winners, and I congratulate you,” she said.

According to her, the learning each participant had gained from the PEARLs Quiz will make him or her a better person in the journey of life.

She commended the teachers, many of whom have also been trained under various CSI initiatives of Seplat for encouraging the students to make the 2025 PEARLs Quiz a huge success

In addition to the quiz competition, the grand finale also featured the STEAM Innovation Challenge, where students showcased inventive projects in the areas of science, technology, engineering, arts, and mathematics

On his part, Nicolas Foucart, Managing Director of NNPC Exploration and Production Limited, represented by the Corporate Communication Department’s Godwin Ijiga, expressed joy at the enthusiasm and brilliance demonstrated by the participants across Edo and Delta States.

In his remarks, Sheriff Oborevwori, Delta State Governor, represented by Ms. Orode Udughan, Delta State Commissioner for Humanitarian Affairs, Community Support Services and Girl Child Development, commended the Seplat JV for the initiative, which he said has greatly impacted students in Edo and Delta states for many years.

She said, “Today, we celebrate not just a contest but the brilliance, promise and potential of our young people, the true future of our states and our nation.

“On behalf of the government and people of Delta State, I extend profound appreciation to Seplat Energy and the NNPC Joint Venture for their consistent and impactful investment in education.

“The PEARLS quiz, which translates to promoting exceptional and respectable Leaders, is a shining example of corporate social responsibility that aligns perfectly with our developmental vision.

“For years, this initiative has provided a vibrant platform for students to demonstrate intellect, confidence and character while promoting the culture of academic excellence.

*Polaris Bank restates support for SMEs growth in Nigeria with launch of ‘EveryDay supermarket’ Yenegoa branch*

Polaris Bank has reaffirmed its commitment to supporting small and medium-scale enterprises (SMEs) and driving economic growth in Nigeria’s South-South region with the commissioning of the new ‘Everyday Supermarket’ Yenagoa Store.
The grand opening, which took place yesterday at Bay Bridge Junction on the Kpansia-Epie Expressway, Bayelsa State , marks the retail chain’s entry into the Bayelsa market and a significant milestone in the region’s business expansion efforts.
Speaking at the event, Mr. Raphael Abaziem, Directorate Head, Polaris Bank, South-South, described the launch as a testament to growth, resilience, and the power of strategic partnership.
“This milestone represents more than the opening of a new outlet. It speaks to our shared vision of economic expansion, local enterprise development, and improved access to quality goods and services for the people of Bayelsa State,” Abaziem stated.
He further noted that the new outlet builds on earlier successes, including Polaris Bank’s financing of the Everyday Group’s flagship shopping complex in Port Harcourt in February, 2025.
“When we partner, we empower, expand, and raise the bar for retail development across Nigeria. Polaris Bank is proud to have supported this journey and to stand with ‘Everyday Supermarket’ as it extends its footprint and impact. We look forward to deepening our collaboration and continuing to support businesses that are creating opportunities, empowering communities, and driving sustainable development across the country,” he added.
In his remarks, Mr. Yemi Osindero, Chairman of ‘Everyday Supermarket’, expressed delight at the brand’s expansion into Bayelsa, noting that the group continues to grow from strength to strength.
“Everyday Group is 28 years old, with 15 stores across the South-East and South-South, including Owerri, Asaba, and Abakaliki. We are excited to be in Yenagoa for the first time and look forward to opening more stores in Bayelsa. Plans are also underway to expand into Aba, Benin, Uyo, Enugu, and Abuja,” Osindero said.
The launch of the Yenagoa branch underscores Polaris Bank’s role as a key enabler of enterprise development and its commitment to supporting businesses that drive local economic empowerment and regional growth.
Access Holdings  Reports ₦2.5 Trillion Gross Earnings in H1 2025

Access Holdings Plc (“the Group” or “the Company”)  yesterday announced its half-year audited financial results for the period ended June 30, 2025.
The Group’s  financial results for the half year ended June 30, 2025, reflect the resilience of our business model, the diversification of our revenue streams, and the steady progress to the execution of our five-year strategic plan.
Gross earnings increased by 13.8% year-on-year to ₦2.5 trillion in H1 2025 from ₦2.2 trillion in H1 2024, driven by strong growth in interest income which increased by 38.9% year-on-year to ₦2.0 trillion from ₦1.5 billion in H1 2024.
Net interest income also increased by 91.8% year-on-year to ₦984.6 billion in H1 2025 from ₦513.4 billion in H1 2024.
Complementing this performance was a growth in net fees and commission income, which increased by 16.1% year-on-year to ₦237.7billion in H1 2025 from ₦204.7 billion in H1 2024.
Profit before tax (PBT) and profit after tax (PAT) closed at ₦320.6 billion and ₦215.9 billion respectively underscoring the strength and resilience of our business model in the markets we operate in.
Key balance sheet indicators remain strong with total assets, customer deposits,  loans and advances, and shareholders’ equity closing at ₦42.4 trillion, ₦22.9 trillion, ₦13.2 trillion ₦3.8 trillion respectively.
The Banking group demonstrated resilient performance in H1 2025. Interest income grew by 38.7% year-on-year to ₦2.0 trillion in H1 2025 from ₦1.5 trillion in H1 2024. Net interest income increased by 85%, from ₦536.7 billion in H1 2024 to ₦992.7 billion in H1 2025. Fee and commission income increased by 27% to ₦294.9 in H1 2025 from ₦232.5 billion in H1 2024 driven by increased transaction volumes. Profit before tax (PBT) and profit after tax (PAT) closed at ₦303.0 billion and ₦199.3 billion respectively.
Banking group subsidiaries contributed 65% to the Banking group’s profit before tax (PBT) in H1 2025. This result highlights our journey towards sustainable performance and execution across our key African and international markets.
The Group’s  non-banking subsidiaries maintained a strong growth momentum. For Access – ARM Pensions, financial performance was robust, with revenue up 29.9% to ₦21.0 billion and profit before tax up 65.1% to ₦13.1 billion. The business delivered a solid ROAE of 48.1%, a cost-to-income ratio of 35.1%, and a PBT margin of 62.5%, underscoring strong operational efficiency and profitability.
Hydrogen Payments recorded a 40.5% growth in top-line revenue compared to H1
2024. Profit before tax (PBT) grew by 273% year-on-year. The total transaction value processed increased by 211%, reaching ₦41.1 trillion in H1 2025, up from ₦13.8 trillion in H1 2024.
Access Insurance Brokers has sustained strong momentum, recording a 125% year-on-year increase in gross written premium, 146% growth in revenue, and a 161% improvement in profit before tax (PBT).
Oxygen X, the Group’s digital lending arm, has sustained strong momentum since launch in Q3 2024, delivering ₦5.4 billion in revenue and ₦2.2 billion in profit before tax in H1 2025.
Access Holdings’ businesses are well-positioned to deepen market penetration, expand product offerings, and leverage cross-sell opportunities across the Group to drive continued growth and profitability.
The group’s focus remains on driving prudent growth and continued execution of its strategic priorities, scaling its digital and transaction-led income streams, increasing revenue diversification, embedding efficiency, innovation, and disciplined portfolio management across all areas of the business. It will also continue to uphold the highest standards of risk and governance discipline to ensure sustainable profitability.
Access Holdings remains confident that it will continue to deliver sustainable value and returns to its  shareholders. Its long-term objective is to build a stronger, more agile Group that consistently delivers superior returns, fosters innovation-driven growth, and optimises portfolio performance to create inclusive value across its markets while reaffirming investor confidence in the strength and future of Access Holdings.
The Group appreciates the continued trust and support of its shareholders, customers, and employees. Together, the Group is building a stronger future.
PremiumTrust Bank earns strong GCR ratings

PremiumTrust BankA four-year-old bank, PremiumTrust Bank, has earned an impressive credit rating from Global Credit Ratings, one of Africa’s leading rating agencies.

The bank received an A- (NG) long-term and A2 (NG) short-term rating, a recognition that underscores its strong capitalisation, sound risk management practices, and consistent growth trajectory in Nigeria’s dynamic banking sector.

This was contained in a statement obtained by our correspondent from the bank on Thursday.

According to GCR, the ratings reflect PremiumTrust Bank’s financial resilience, buoyed by a successful equity raise and improved profitability.

The agency commended the Bank’s robust liquidity position and prudent governance framework, both of which continue to support its credit profile amid expansion across Nigeria’s competitive financial landscape.

GCR further noted that the bank’s ratings are anchored by its solid capitalisation metrics, strengthened by an equity injection that enhanced its balance sheet.

The agency also assessed PremiumTrust Bank’s funding and liquidity position positively, highlighting a stable funding structure and a strong liquidity buffer.

Current and savings account deposits accounted for 92.1 per cent of total deposits, resulting in a low cost of funds of 3.8 per cent, while the deposit base remained well-diversified.

The A- (NG) Long-Term Rating indicates low risk, very good financial strength, and excellent operating performance, whereas the A2 (NG) Short-Term Rating denotes fair credit quality and adequate capacity for timely payment of financial commitments.

These assessments showed PremiumTrust Bank’s ability to meet its obligations efficiently while sustaining growth momentum.

In addition to the GCR rating, PremiumTrust Bank also secured A- (NG) Long-Term and A2 (NG) Short-Term ratings from another reputable credit rating agency, DataPro.

The agency’s evaluation took into account the Bank’s earnings profile, liquidity strength, corporate governance, regulatory compliance, and sustainability of its healthy financial outlook over the medium to long term. DataPro described the Long-Term Rating as indicative of low risk and very good financial strength, while the short-term rating reflects Fair Credit Quality and adequate capacity for timely payments.

The statement partly reads, “The ratings highlight PremiumTrust Bank’s financial resilience, following a successful equity raise and enhanced profitability. GCR commended the Bank’s robust liquidity and prudent governance framework, which continue to underpin its credit profile even as it expands across Nigeria’s competitive banking landscape.

“According to GCR, the Bank’s ratings are anchored by its robust capitalisation metrics, strengthened by a successful equity injection. The agency also assessed PremiumTrust Bank’s funding and liquidity position positively, citing a stable funding structure and a sufficiently liquid balance sheet. Current and savings account deposits represented a significant 92.1% of total deposits, translating to a low cost of funds of 3.8%. The deposit base remains well-diversified.

W’Bank to invest $14bn in agric transformation

World-Bank

The World Bank plans to deploy as much as $14 bn to boost global agribusiness by 2030 through a new programme dubbed AgriConnect, part of a broader effort to create jobs and drive inclusive growth in developing economies.

The initiative, announced during the World Bank Group–International Monetary Fund Annual Meetings under the theme “From Sectors to Systems: Building Job-Rich Economies at Scale”, is designed to help shift smallholder farming from subsistence to profit-driven enterprise. The lender says AgriConnect could generate millions of jobs while strengthening food systems and rural economies in low- and middle-income countries.

World Bank President Ajay Banga said the programme marks a major shift in the institution’s approach from financing isolated projects to building entire economic ecosystems that can deliver sustainable job creation.

“We’ve set a target to double our agribusiness commitments to $9bn annually by 2030, aiming to mobilise an additional $5bn,” Banga said at the launch event, AgriConnect: Farms, Firms, and Finance for Jobs.

“This is grounded in what we’ve tested in the field and in lessons borrowed from others. Steal shamelessly and share seamlessly; that is how we succeed together.”

According to the World Bank, family farms, including more than 500 million smallholders, produce about 80 per cent of the world’s food, yet many remain trapped in poverty without access to markets, finance, or modern technology.

The AgriConnect campaign calls on governments, private investors, and donor partners to pool resources to close these gaps and make agriculture a major engine of employment and growth.

The initiative will prioritise investments in infrastructure, digital technology, and policy reforms that help farmers increase productivity, integrate into value chains, and access financing. By doing so, the Bank hopes to strengthen food systems and reduce the risks of unemployment and hunger in rural areas.

Banga emphasised that the jobs agenda remains central to the World Bank’s mission of ending poverty on a liveable planet. With more than one billion young people expected to enter the global workforce over the next decade, he said, the world cannot afford to ignore sectors like agriculture that offer large-scale employment potential.

Beyond AgriConnect, the Annual Meetings featured broad discussions on how to build job-rich economies at scale, bringing together leaders from governments, civil society, and the private sector. The World Bank’s Development Committee, representing all 189 member countries, reaffirmed support for a faster and more effective institution capable of delivering impact with efficiency.

At the sidelines, the Leaders’ Speaker Series featured global voices, including Dr. Mona Mourshed, CEO of Generation, and Dr. Rania Al-Mashat, Egypt’s Minister of Planning and International Cooperation, who shared insights on aligning education, innovation, and policy with job creation goals.

The AgriConnect launch capped a week of engagement that underscored partnership, trust, and collaboration as the bedrock of sustainable development.

“Jobs remain the most reliable route out of poverty,” Banga added. “They provide dignity, stability, and hope. Through AgriConnect, we are connecting the dots between farms, firms, and finance to deliver those opportunities at scale.”

Fidelity Bank extends savings promo

Photo GAIM 6 Prize Presentation GbagadaThe bank explained that the promo targets a broad demographic, including NYSC members, women, children, and small traders, with participation starting from deposits as low as N2,000.

It stated that the draws were supervised by the Federal Competition and Consumer Protection Commission to ensure fairness and transparency.

Each N5,000 deposit qualifies customers for the monthly and grand draws, where N10m, N5m, and N2m will be awarded to the grand prize winner, first runner-up, and second runner-up respectively.

Fidelity Bank added that N47m remains available to be won in upcoming draws, including N30m in the monthly draws and N17m in the grand finale scheduled for December.

In the seventh and eighth monthly draws, 20 customers received N1m each.

Speaking on the development, the bank’s Divisional Head of Product Development, Osita Ede, said the promo’s extension was based on customer feedback.

“They asked for more opportunities to benefit from the promo, and we listened. With management and regulatory consent, we’re thrilled to keep the excitement going for another three months,” he said.

NNPC can increase stake in Dangote refinery — Aliko

Aliko DangoteThe President of the Dangote Group, Alhaji Aliko Dangote, has said the Nigerian National Petroleum Company Limited has the opportunity to increase its 7.2 per cent stake in the Dangote refinery.

However, Dangote said this would happen after he must have proven to the state-owned company what the refinery can do.

Dangote stated this in a recent interview with S&P Global Commodity Insights.

“The door remains open for Nigerian National Petroleum Co. to boost its stake after the state oil company trimmed its interest to 7.2 per cent, but not before its next phase of growth is well underway.

“I want to demonstrate what this refinery can do, then we can sit down and talk,” Dangote was quoted as saying.

A close aide of Dangote was also reported to have said that the company would exert caution before inviting additional participation from NNPC.

Within the next year, he noted that the refining business will list 5–10 per cent of its shares on the Nigerian stock exchange.

“We don’t want to keep more than 65-70 per cent,” Dangote said, explaining that shares will be offered incrementally subject to investor appetite and market depth.

The NNPC had reduced its stake in the Dangote refinery from 20 per cent to 7.2 per cent.

The former spokesperson of the Nigerian National Petroleum Company Limited, Olufemi Soneye, disclosed last year that the state-owned energy firm reduced its stake in the Dangote refinery to invest in compressed natural gas.

Soneye revealed that the NNPC capped its stake at 7.2 per cent instead of 20 per cent to build CNG stations across the nation.

He stated this while featuring on Berekete Family Radio, a video of which was sighted by our correspondent.

He mentioned that the NNPC realised that CNG was more affordable as a better energy alternative for Nigerians, especially during the period of energy transition.

He added that Nigerians could fuel their vehicles with N10,000 when using CNG, compared to petrol.

“The reason for reducing our stake in the Dangote refinery is because we wanted to invest in CNG. We observed that CNG is very cheap, and all over the world, people are investing in clean and cheaper alternative energy.

“That is why the NNPC is building different CNG stations everywhere. We understand that with N10,000, Nigerians can fill their cars and use it for two weeks. We realised that gas is cheaper in Nigeria; why don’t we invest in it?” the former NNPC spokesman said in August 2024.

The new Group Chief Executive Officer of the NNPC, Bayo Ojulari, had recently told Argus Media that NNPC remains committed to increasing its stake in the 650,000-barrel-per-day Dangote refinery.

Many Nigerians were surprised to hear from Dangote in 2024 the the NNPC had trimmed its investment in the refinery to a paltry 7.2 per cent.

mayTotal transactions in the nation’s equity market rose significantly by 78.5 per cent to N1.62tn in September 2025, up from N908.38bn recorded in August 2025, according to the latest Domestic and Foreign Portfolio Participation in Equity Trading report released by the Nigerian Exchange Limited on Thursday.

The NGX attributed the sharp increase in trading value to a series of block trades executed during the month under review, which boosted overall market activity.

The report showed that domestic investors continued to dominate trading on the exchange, accounting for 76.09 per cent of total market transactions valued at N1.23tn, while foreign investors accounted for 23.91 per cent, representing N387.62bn.

Compared to September 2024, when the total transaction value stood at N493.01bn, the September 2025 performance reflected a strong year-on-year growth of 228.89 per cent.

Further analysis revealed that total domestic transactions rose 67.51 per cent from N736.57bn in August 2025 to N1.23tn in September 2025. Similarly, total foreign transactions jumped 125.61 per cent from N171.81bn (about $112.18m) to N387.62bn (about $262.73m) within the same period.

On a segmental basis, institutional investors outperformed their retail counterparts during the month. Institutional investors accounted for N955.26bn of total domestic trades, representing a 143.13 per cent increase from the N392.90bn recorded in August. In contrast, retail investors’ participation fell 18.94 per cent to N278.57bn from N343.67bn in the preceding month.

The NGX report noted that the value of domestic transactions in the first nine months of 2025 stood at N6.70tn, representing 78.44 per cent of total market activity, while foreign transactions amounted to N1.84tn, or 21.56 per cent. This reflects a significant increase from the corresponding period in 2024, when domestic and foreign trades stood at N3.27tn and N696.88bn, respectively.

Over an 18-year period, domestic transactions on the exchange have grown 33.15 per cent, from N3.56tn in 2007 to N4.73tn in 2024, while foreign transactions increased 38.31 per cent, from N616bn to N852bn within the same period.

The report also stated that the exchange rate stood at N1,495.35 to a dollar at the end of September 2025, compared to N1,531.57 to a dollar in August 2025, based on data from the Nigerian Autonomous Foreign Exchange Market.

Analysts believe that the participation of institutional investors and renewed foreign inflows indicate rising confidence in the Nigerian equity market amid efforts by the Central Bank of Nigeria and fiscal authorities to stabilise the economy.

NAICOM, FRSC, NHIA align to enforce motor insurance, others

NAICOMThe National Insurance Commission, the Federal Road Safety Corps and the National Health Insurance Authority have entered into agreements to enforce motor insurance and others under the new Nigerian Insurance Industry Reform Act 2025.

NAICOM, in a statement on Thursday, said that the agreements were arrived at during a meeting at the NAICOM Headquarters in Abuja, where the three agencies outlined concrete steps to integrate data systems, launch public awareness campaigns, and jointly enforce compliance with compulsory motor insurance requirements across the country.

According to the resolutions reached, the first major step will be the integration of data-sharing systems between NAICOM and FRSC to enable real-time verification of vehicle insurance status. This, officials said, will help eliminate fake motor insurance policies and ensure a swift response to road incidents involving insured motorists.

Secondly, the agencies agreed to embark on a joint awareness campaign to educate the public on the benefits of genuine motor insurance and the broader link between insurance coverage and road safety.

The meeting also endorsed the creation of a joint enforcement committee, tasked with ensuring strict compliance with motor insurance laws and addressing cases of fraud or fake documentation. Additionally, FRSC will include valid insurance verification as part of its nationwide enforcement and licensing operations.

FRSC Corps Marshal Shehu Muhammed emphasised the importance of “enhanced data exchange between NAICOM and FRSC to develop a robust system for quick response to road accidents and compensation.”

The Corps Marshal also stressed the importance of digitising the process for prompt emergency response and eliminating fake motor insurance policies.

In his remarks, the Commissioner for Insurance, Mr. Olusegun Omosehin, reaffirmed NAICOM’s commitment to working closely with the FRSC and NHIA to protect motorists and accident victims.

Omosehin said that “NIIRA 2025 has strengthened the compulsory third-party motor insurance policy and established a fund for compensating road accident victims, which will be administered by a committee that includes FRSC representation.”

The NHIA’s representative, Mr. Ajodi Nasir, highlighted the health dimension of the partnership, noting that the collaboration would ensure faster and better medical treatment for accident victims.

Nasir affirmed that the synergy will culminate in a robust system that not only safeguards roads but also ensures prompt and quality medical treatment for accident victims, thereby reducing the morbidity and mortality associated with road crashes.

The newly formed partnership underscores the federal government’s broader reform agenda under NIIRA 2025, which seeks to modernise Nigeria’s insurance ecosystem, improve safety standards, and protect the lives and livelihoods of all road users.

A date will soon be announced for the inauguration of the joint enforcement and coordination committee.