Business - Companies
Updated: May 27, 2023

Business News Roundup From May 20 - May 26, 2023

By Felicia Abisola Olamiji
May 27, 2023
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Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

64 Million Nigerians At Risk Of Food Crisis —World Bank

The World Bank has said at least 64 million Nigerians are at risk of emergency food and nutritional assistance due to the effects of rising inflation, and climate change, among others.

According to the United Nations World Food Programme, there are currently 24.8 million Nigerians who suffer from acute hunger. Read more here.

Insurance Risk Premium Rates Too Low — MD

The Group managing director of Cornerstone Insurance Plc, Ganiyu Musa, has described the insurance risk premium rates currently applicable in the country as too low and unsustainable for the development of the insurance industry.

Decrying the underpricing of insurance premiums said underwriters have deviated from the basics of the profession in the sense that all have collectively driven insurance rates to levels that are not sustainable. Read more here

Veritas Kapital Records N2 Billion Gross Premium

For the first quarter of 2023, Veritas Kapital Assurance Plc has disclosed that it grew its Gross Premium Written (GPW) by 45 per cent, year-on-year to N2.08 billion.

The firm made this known in its report for the first quarter of the 2023 financial period. Read more here.

Bike Association Urges Incoming Government To Prioritise Economic Growth

The All Nigerians Autobike Commercial Owners & Workers Association has urged the incoming government to pay special attention to the country’s economy to stimulate growth.

In a release, the President of ANACOWA, Deji Emmanuel, stressed the need to move forward and concentrate on advancing the country’s economy and overall development. Read more here.