Exciting News!
Heirs Insurance Group (HIG) has appointed Ibrahim Puri and Sonny Iroche as Independent non-executive directors of its non-life insurance business, Heirs General. This move enhances HIG’s governance and leadership team, strengthening its position in the market. Since its launch in 2021, HIG has experienced remarkable growth, offering consumers a unique digitally driven experience.
Latest Update:
Amid rising costs, low sales, and declining business confidence, stakeholders are urging immediate actions to boost industrialization. The private sector is facing challenges in the second half of the year, with key indices showing a contraction. A recent purchasing managers’ index (PMI) report highlighted the concerning trend.
Just In:
The maritime haulage sector is experiencing increased extortion checkpoints despite government initiatives to curb such activities. This surge in extortion points is negatively impacting the sector, hindering its growth and operations.
Update:
Stakeholders are advocating for the establishment of Special Economic Zones (SEZs) to drive industrialization, support economic growth, and facilitate trade. SEZs are seen as vital policy tools to enhance economic development.
Recent Development:
Manufacturers have expressed concern over the FX rate benchmark increase to N1,618/$1, questioning the government’s commitment to addressing manufacturing challenges. The rise in the benchmark rate has been criticized for being insensitive to the plight of manufacturers during these difficult times.