All Posts in "Day: March 26, 2024"

NiMet unveils new Website

By Favour Nnabugwu

 

 

The Nigerian Meteorological Agency (NiMet), has unveiled a new website which the agency’s Director General, Chief Executive Officer, and the permanent representative of Nigeria with the World Meteorological Organization (WMO),

Professor Charles Anosike says is; “More functional, interactive, dynamic and compares with websites of Met Offices in other parts of the world. The new website which can be accessed through our nimet.gov.ng domain has been meticulously designed by our internal ICT staff from the ground up, with a primary focus of establishing a sustainable and scalable portal for the agency”

. Continuing, Prof Anosike said that the unveiling of the new NiMet website, “is part of ongoing efforts by the new management of the agency to reposition the agency for improved and effective service delivery. This is in addition to other initiatives which are in line with the Aviation sector roadmap of the Federal Ministry of Aviation and Aerospace Development “.

Cyprian Okpalaku, Special Adviser on Information Communication Technology (ICT) to DG/CEO of NiMet, said that with the new website; “members of the public can effortlessly request data and monitor the progress of their requests directly through the portal. Also, the weather forecast widget has been revamped to enable partner agencies or organizations to easily integrate it into their own websites”.

Okpalaku listed other features of the website to include; per section view homepage design making it easy for visitors to concentrate on one content section at a time thus enhancing user experience, improved responsiveness ensuring optimal viewing and functionality across all devices,
secured back-office security matrix, highlighted enhanced features such as former Directors General sections, Sustainable Development Goals (SDGs) display, archive and documents section,

NiMet Chat Box – an intelligent chat box which acts as a NiMet agent, responding to client inquiries with precision, weather alert section, activity sub-domains for agency departments, and an integrated news section.

Concluding, Okpalaku said that the new NiMet website; “serves as a cornerstone for the modern portal structure, contributing to NiMet SmartNet, a system facilitating back-office and smart office operations management across the agency and its branches nationwide”.

Patoma Admin by — March 26, 2024 in Aviation 0
Insurance industry total assets hit N2.67trn ***As capitalization closes @ N851bn in 2023

By Favour Nnabugwu 
The nation’s insurance industry’s total assets N2.7b trillion at the end of Q4, according to the National Insurance Commission (NAICOM)’s  “Nigerian Insurance Market performance at a Glance – Q4.
At the pace of the growth for the fourth quarter, insurance industry capitalisation stood at N851 billion at the close of 2023.
In the report release by the Deputy Director of Communications and Market Development, Mr AbdulRasaaq Salami revealed that “Statistics also shows that
the market recorded total assets of about N2.67trillion and capitalization of N851billion in 2023″
The Insurance industry of Nigeria has sustained its progressive trend of positive market performance at the close of 2023 fourth quarter, recording a milestone growth to close at N1.003trillion, representing about 27 per cent growth compared to the
N790billion recorded in 2022.
The Non-Life business accounted for 61.3 per cent of all premiums written during the year while the Life segment contributed 38.7 per cent, valued at N388.1billion. The market also recorded a retention of about 87.7 per cent for the Life business, just about 54 per cent for Non-Life while the aggregate market average retention stood at 66.7 per cent during the same period. 
Major growth drivers in the non-life segment of the market were Oil & Gas and Fire Insurances, contributing 27.3 percent and 24.1percent respectively. In a direct reflection to the ongoing regulatory measures regarding claims settlement, the Life business recorded about 95 per cent of net claims to the total recorded claims during the year while the market average stood at about 71.4 per cent of the N536.5billion gross claims reported at the close of fourth quarter, 2023. 
“In a direct reflection to the “no-premium no-cover” policy of the Commission, the outstanding premium continue to decline, posting a 1.6 per cent as outstanding of all the premiums generated in the market during the period.
Patoma Admin by — March 26, 2024 in Insurance 0