Business

Japan Moves to Raise Immigration Costs Under New Policy Proposal

Published

5 months ago

April 14, 2026

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Japan's immigration act may affect relocation plans

For many Nigerians exploring “japa” options beyond the usual destinations, Japan has become an attractive destination. But with the Japanese government’s new immigration protocol the move will become more expensive.

Authorities in Japan have considered changes to visa and residency fees under amendments to the Immigration Control Act. It proposes increased charges due to administrative costs—meaning more expenses for immigrants, such as Nigerians planning work and study relocation or long-term settlement.

An immediate impact on visa renewals, the cost of renewing a five-year visa could jump from 6,000 yen to about 70,000 yen (roughly $440). Short-term renewals may also increase to around 10,000 yen.

For Nigerians thinking long-term, permanent residency application fees could rise from 10,000 yen to 200,000 yen, with a proposed cap of 300,000 yen. This marks a financial shift for migrants who plan years ahead to transition from temporary stay to permanent status.

As of April 2026, eligibility tightens for foreign nationals who must now live in Japan continuously for at least 10 years before qualifying for citizenship. Twice the previous requirement, this could slow down long-term plans.

For Nigerian students who often use education as a pathway to international work opportunities, these changes may alter decisions about where to study. Japan has been gaining attention for its growing demand for skilled workers and relatively structured immigration pathways. However, higher costs could push many to reconsider options more carefully.

Professionals and skilled workers will likely feel the impact. High residency costs may influence job mobility, contract negotiations, and employer decisions to hire foreign talent.

While the policy is not yet official, the direction is clear: moving to Japan may require deeper financial planning.

For Nigerians considering “japa,” this development reinforces an important reality—migration is no longer just about opportunity, but also about affordability, timing, and long-term sustainability.

Nigerians should watch out for final decision on fees increase, implementation timeline, possible exemptions or reductions for students or low-income applicants, and changes in job sponsorship policies for foreign workers.

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Business

Post-Recapitalisation, Mutual Benefits Pledges Deeper Investment in Tech, Customer Experience

Published

5 hours ago

September 10, 2026

Preport

For more than 30 years, Mutual Benefits Assurance Plc has built its reputation on a simple promise: being there for Nigerians when protection matters most.

From safeguarding families and businesses to protecting assets and supporting long-term financial goals, the company has earned the trust of millions of Nigerians and established itself as a recognised player in Nigeria’s insurance industry.

That legacy of trust now provides the foundation for Mutual Benefits’ next chapter.

Following the successful completion of its recapitalisation,Mutual Benefits is positioning for sustainable growth while strengthening its role as a trusted protection partner to Nigerians.

Commenting on the development, Managing Director/CEO, Femi Asenuga said: “For over three decades, Nigerians have entrusted Mutual Benefits with what matters most to them. This includes their families,

businesses, assets and financial futures.

That trust is both our greatest privilege and our greatest responsibility. Our recapitalisation strengthens the foundation from which we can serve our customers better, innovate more meaningfully and build sustainably for the future.”

For Mutual Benefits, the significance of recapitalisation goes beyond meeting a regulatory requirement. It provides a stronger platform to deepen investment in products, technology, customer experience and service capabilities, while responding to the evolving financial protection needs of Nigerians.

The company’s portfolio spans Non-Life and Life Assurance solutions covering key areas including Motor, Home, Marine, Fire & Special Perils, Travel and Group Life Insurance, among others, as well as a suite of solutions supporting children’s education, retirement, savings and investment.

As customers increasingly expect greater convenience and accessibility, Mutual Benefits is also accelerating its digital transformation, strengthening its online platforms and customer journeys to make insurance easier to access and interact with.

The company is equally placing renewed emphasis on customer experience, with a focus on improving engagement and service delivery across the customer journey.

Asenuga added: “Our ambition is not simply to grow bigger, but to become better for our customers. Every investment we make in technology, people, products and service must ultimately translate into greater convenience, stronger value and greater confidence for the people and businesses we serve.”

As Nigerians navigate changing economic realities and increasing financial responsibilities, Mutual Benefits believes insurance has an increasingly important role to play in helping individuals and businesses build resilience and protect what they have worked hard to create.

The company’s post-recapitalisation strategy, therefore, focuseson sustainable growth, innovation, operational effectiveness and deeper customer engagement, while expanding access to relevant protection and financial solutions.

With three decades of experience behind it and a stronger foundation for the future, Mutual Benefits remains committed to earning and reinforcing the trust of its customers, helping them protect what matters, prepare for uncertainty and pursue their financial aspirations with greater confidence.

“We are proud of the journey Mutual Benefits has taken over the past 30 years, but we are even more focused on what lies ahead. Our stronger foundation gives us the opportunity to serve more Nigerians, create greater value and deepen the trust that has sustained our business. We are committed to being a protection partner our customers can depend on today, tomorrow and for generations to come,” Asenuga concluded.

The post Post-Recapitalisation, Mutual Benefits Pledges Deeper Investment in Tech, Customer Experience appeared first on Business Today NG.

Business

NUPRC threatens to revoke gas flare site awards over non-utilisation

Published

13 hours ago

September 10, 2026

Preport

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned that it may revoke permits awarded to investors under the Nigerian Gas Flare Commercialisation Programme (NGFCP) if they fail to demonstrate significant progress in utilising the sites.

The Commission Chief Executive, Oritsemeyiwa Eyesan, disclosed this during a working visit to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in Abuja on Tuesday.

Mrs Eyesan, according to a statement issued by the commission on Wednesday, presented an update on the implementation of the NGFCP during the meeting.

“One year after an award has been granted, the Commission conducts an evaluation to determine whether there has been considerable progress,” she said.

“Where there is insufficient progress, the Commission will take appropriate regulatory action, including revocation of the award where necessary.”

27 flare sites awarded

Mrs Eyesan said the NGFCP had continued to make significant progress despite initial resistance from some oil and gas operators.

She said 43 flare gas sites were originally identified for award; 27 have been successfully awarded so far, and implementation efforts are ongoing.

The Nigerian Gas Flare Commercialisation Programme was launched by the Federal Government in 2016 to end routine gas flaring at oil fields by enabling third-party investors to commercialise gas that would otherwise be flared.

The latest warning comes amid growing concerns over the continued gas flaring by oil companies and its impact on oil-producing communities.

PREMIUM TIMES investigations have documented the environmental and livelihood impacts of persistent gas leaks and flaring in oil-producing communities, as well as cases of oil companies allegedly violating gas-flaring regulations without facing effective sanctions.

Nigeria has over 215 TCF of proven gas reserves
Mrs Eyesan also said Nigeria currently has more than 215 trillion cubic feet (TCF) of proven natural gas reserves, with an estimated total reserve base of about 600 TCF.

READ ALSO: Nigeria’s crude oil production down 4% in July — NUPRC

“These resources provide a strong foundation for power generation, industrialisation, exports and broader economic development,” she said.

She said the effective commercialisation of the country’s gas resources would help Nigeria derive greater economic value while reducing environmental pollution associated with gas flaring.

On host community development, the NUPRC chief said the Petroleum Industry Act (PIA) introduced the Host Community Development Trust framework to address longstanding concerns in petroleum-producing communities and promote sustainable development.

She said available data indicated that the implementation of the trusts had contributed to reductions in oil theft and oil spills while improving relationships between operators and host communities.

“Today, 173 Host Community Development Trusts have been incorporated, 147 have been funded, over 1,001 projects are currently ongoing, while more than 200 projects have been successfully commissioned across host communities,” she said.

On his part, Mr Ekpo called for deliberate and aggressive implementation of Nigeria’s gas commercialisation programme to enable the country to meet its 2030 target of eliminating routine gas flaring.

“The core objective is to add value to our gas resources by converting them into critical products and services. We must move away from environmental pollution and toward productive resource utilisation,” the minister said.