Business
Old Mutual celebrates World Heath Day, pledges insurance coverage for critical illness

Old Mutual Nigeria Life Assurance Company, a subsidiary of Pan-African insurance giant and leading global financial services group, Old Mutual Limited, has reiterated its commitment to the provision of financial protection against critical illness for Nigerians.
The company reiterated its commitment at the World Health Day Media Parley it organised in Lagos, on Monday, in partnership with Hygeia, a Health Management Organisations (HMO) and Roche.
“Roche is Swiss multinational healthcare company that operates worldwide under two divisions: Pharmaceuticals and Diagnostics.”
Nationaltrail reports that 2019 World Health Day was held on April 7 with the theme: ” Health for all ”
The Managing Director, Old Mutual Nigeria Life Assurance Company, Mr Keith Alford at the event, emphasised the importance of Healthcare Coverage.
Alford said that with Universal Health Coverage, everyone can obtain the right kind of medical care and in due time, without suffering financial hardship.
He noted that the financial hardship becomes heightened in the cases of terminal illnesses due to prolonged costly treatment and deadly impact.
“Currently, over 800 million people worldwide spend at least 10 per cent of their household budgets to pay for health care.
“In sub-Saharan countries like Nigeria, medical expenses are often made pockets with little coming from government or privately structured healthcare management initiatives.
“In the case of terminal illness, many have lost their jobs and their source of income significantly affected.
“Families have been driven into poverty in a bid to raise money for the treatment of loved ones.
“Unfortunately, insurance which ideally serves as financial protection has not been fully utilised by Nigerians,” he said.
Alford emphasised the need to plan with insurance policies specially designed to provide protection from the financial burdens of terminal illnesses.
Alford posited that Old Mutual Nigeria Life Assurance Company entered into a partnership with Roche and Hygeia to develop this innovative insurance plan to protect Nigerians from the financial implications of terminal illness.
“As we commemorate World Health Day today, we use this occasion to call on Nigerians to choose life and take up the insurance cover as a protection against the financial burden of terminal illnesses, that usually invade lives unannounced”, he added.
The Executive Head, Marketing and Customer Experience of the Company, Mrs Alero Ladipo at the function, said the timing of the product is right.
She said the product covers critical illness like Cancer, diabetes, stroke, Kidney failure amongv others.
She expressed regrets that Nigerians mostly resulted into crowd funding, to pay for medical bills.
According to her, many have even resulted into begging in religious places to augment medical bills, we call on Nigerians to chose life by buying the product.
“Old Mutual has made it easier by its “Critical illness insurance Cover” and for as low as N5000 monthly or N60,000 annually, someone can get a cover up to N5 million, if the critical illness happened within 5 years.
The Country Manager, Roche Pharmaceutical Company, Dr Dr. Ladi Hameed said having a critical illness insurance cover that also permits someone to access doctor anytime with peace of mind.
“With ‘Critical illness insurance Cover’ in hand, there is no panicking.
We will work with Old Mutuals by bringing in our expertise, ” he said.
Nationaltrail reports that Old Mutual General Insurance Company and Old Mutual Nigeria Life Assurance Company are part of Old Mutual Limited, which provides protection, savings, investment and lending services to 11.3 million customers in 17 countries across Africa, Asia and Latin America.
Business
Dangote Refinery Boosts Fuel Exports as Gulf Refineries Shut Down

By: Fabian Apechihin
The Dangote Petroleum Refinery has ramped up fuel exports to international markets amid widespread refinery shutdowns in the Middle East, industry sources confirmed.
A senior official at the $20bn Lagos-based plant told The PUNCH that the facility exported significant volumes of petrol (PMS), diesel (AGO), and aviation fuel (Jet A1) to foreign buyers in August, following earlier shipments in June and July.
The surge comes as Saudi Aramco and other regional producers face heavy maintenance schedules, tightening fuel supply. Aramco has already shut down two plants and plans further closures, including its 460,000 b/d Satorp refinery in Jubail for a 60-day turnaround in November–December. Kuwait and India are also scaling back capacity for maintenance and seasonal demand.
According to Argus Media, these shutdowns are pushing Gulf nations to import record volumes of gasoline, with Saudi Arabia and the UAE sharply increasing purchases from Europe and other markets in recent months.
While some reports pointed to operational constraints at Dangote’s 650,000 b/d facility, the company dismissed such claims, insisting production is on track to reach 700,000 b/d by December. Earlier this year, Aliko Dangote announced the refinery had sold two cargoes of jet fuel to Saudi Aramco and recently achieved exports of about 1 million tonnes of petrol between June and July.
“With Gulf refiners offline, Nigeria has now emerged as a net exporter of refined products,” Dangote said.
Analysts suggest the extended refinery outages in the Middle East will further strengthen demand for Dangote’s output, positioning the Nigerian plant as a key supplier in regional fuel markets.
Would you like me to tighten this further into a 5–6 paragraph wire-style news brief, or keep it as a detailed feature-style report with more context on Gulf refinery shutdowns?
Business
US Oil Exports to Nigeria, Others Fall to 3.3m bpd as Local Output Rises

By: Fabian Apechihin
The United States’ crude oil exports to Nigeria and other African countries fell for the fifth consecutive month in July 2025, averaging 3.3 million barrels per day (bpd), the lowest level since March 2022.
The Organisation of Petroleum Exporting Countries (OPEC) disclosed this in its August 2025 Monthly Oil Market Report (MOMR), attributing the decline to weaker flows to Europe and Africa, particularly Nigeria, but without giving further details.
Industry analysts link the slowdown to the ramp-up of local refining capacity, especially the 650,000 bpd Dangote Refinery, which has reduced Nigeria’s reliance on imported crude, including from the US. Vanguard checks also show that crude importation has slowed further in recent months due to improved domestic production.
According to OPEC data, Nigeria’s crude oil output—excluding condensates—rose by 11 per cent year-on-year to 1.559 million bpd in July 2025, up from 1.386 million bpd in the same period of 2024. This marks the country’s highest monthly production level so far this year.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) corroborated the figures, stating that overall output, including condensates, exceeded 1.8 million bpd in July.
Gbenga Komolafe, Chief Executive of the NUPRC, said the milestone was achieved through the agency’s “Project 1 MMBOPD Incremental” initiative, supported by a multi-stakeholder collaborative framework.
“We are glad to report that we crossed the 1.8 million bpd mark on peak production last month, with average production hovering at 1.78 million bpd,” Komolafe stated.
He added that the Commission is working to sustain production growth by optimising the Maximum Efficient Rate (MER) framework, improving produced water management, and aligning operational shutdowns and maintenance schedules to minimise disruptions.
“With these measures and continued collaboration, the presidential mandate on production increase is well within reach,” he said.
Do you want me to make this rewrite more concise for a newspaper front-page brief or keep it detailed like a full energy market report?
Business
NDYPC Hails Otuaro’s Reforms in Presidential Amnesty Programme

• Lauds transparency, fairness in beneficiary selection and grassroots empowerment
• Says reforms align with Tinubu’s Renewed Hope Agenda, restore trust in Niger Delta
The Niger Delta Youths for Positive Change (NDYPC) has commended the Administrator of the Presidential Amnesty Programme (PAP), Dr. Dennis Otuaro, for what it described as bold, people-focused reforms that are restoring trust and delivering tangible benefits to the Niger Delta.
In a statement signed and issued by Comrade Elliott Yibakeni, after the conclusion of leadership training sessions with ex-agitator leaders in Abuja, the group said the PAP, once in urgent need of renewal, is now undergoing a transformation that reflects transparency, fairness, and accountability.
“At a time when public trust in institutions was waning, Dr. Otuaro has emerged as a symbol of credibility and transformation,” the statement read. “His visionary leadership is restoring integrity, empowering communities, and driving a sustainable development agenda that resonates with the aspirations of the Niger Delta.”
According to NDYPC, under Otuaro’s leadership, beneficiary selection has become fair and merit-based, ending years of favoritism and political interference. The group added that access to education, skills training, and empowerment opportunities, both locally and abroad, is now guided by equity and open competition.
The group highlighted several internal reforms, including improved staff welfare, strengthened professional capacity, and strict adherence to best practices in public procurement. These, it said, have made the PAP more efficient, responsive, and transparent.
NDYPC also praised Otuaro’s inclusive governance style, noting his sustained engagement with traditional rulers, women leaders, civil society organizations, and local communities. This approach, the group said, has strengthened peace-building efforts and deepened trust between the PAP and the people it serves.
In line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, the PAP has maintained consistent payment of stipends to ex-agitators and extended direct support to vulnerable populations. NDYPC also applauded new healthcare interventions for ex-agitators facing health challenges.
The statement further commended the programme’s investments in scholarships, vocational training, and economic empowerment initiatives aimed at preparing Niger Delta youths for leadership, innovation, and sustainable livelihoods.
“Every decision reflects a deep commitment to public trust, responsible stewardship, and long-term development,” NDYPC stated. “Under Dr. Otuaro’s watch, the Niger Delta is rising stronger, united, and filled with renewed hope.”
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