KBL Insurance Limited has reinforced its standing as a dependable and customer-focused underwriting institution with the payment of over N5 billion in claims across multiple insurance categories within the last sixteen months.
The Company disclosed that it paid claims totalingN3,662,293,189.41 during the 2025 financial year, while an additional N1,337,886,316.70 was settled between January and April 2026.
The cumulative payout reflects KBL’s strong financial footing, operational resilience, and unwavering commitment to meeting obligations with efficiency and professionalism.
The settlements, spanning diverse classes of insurance business, further demonstrate the Company’s responsiveness in providing timely financial relief to policyholders during periods of loss and uncertainty.
Speaking on the development, the Managing Director/Chief Executive Officer of KBL Insurance Limited, Lawal Mijinyawa, described prompt claims settlement as one of the most credible indicators of trust and institutional integrity within the insurance industry.
“At KBL, we understand that insurance extends beyond policies and documentation; it is fundamentally about honouring our promises when customers need us most. The true test of an insurance institution lies in its ability to settle genuine claims promptly, fairly, and efficiently,” he stated.
Mijinyawa noted that the Company’s claims record reflects not only financial stability, but also a culture anchored on professionalism, operational excellence, and superior service delivery.
“Our consistent claims settlement culture mirrors the confidence our customers place in us and our determination to exceed expectations. Beyond the statistics are businesses restored, families supported through adversity, and individuals empowered to move forward with renewed assurance,”he added.
The Managing Director further disclosed that KBL is recording a very significant progress with its recapitalisation programme as part of a broader strategic growth and transformation agenda.
According to him, the Company has successfully secured investor commitment towards the initiative, a milestone expected to strengthen its financial capacity, underwriting strength, and competitive position within Nigeria’s insurance landscape.
“As part of our long-term vision for sustainable growth and enhanced service delivery, KBL has secured investor participation towards its recapitalisation programme. This achievement further reinforces our financial stability and positions us to harness emerging opportunities within the industry,” he said.
He explained that the development reflects growing investor confidence in the Company’s governance structure, operational performance, and long-term strategic direction.
“The successful investment commitment is a strong endorsement of the KBL brand and its future prospects. It will enable us to deepen market penetration, strengthen service delivery, expand investment in innovation and technology, and continue creating superior value for customers and stakeholders,” Mijinyawa stated.
He further assured policyholders, brokers, business partners, and stakeholders of the Company’s continued commitment to sound corporate governance, financial discipline, transparency, and customer-oriented operations as it consolidates its market presence.
KBL also reiterated its resolve to leverage innovation, digital transformation, and operational efficiency to enhance customer experience and improve turnaround time across its operations.
Over the years, KBL Insurance Limited has built a strong reputation founded on professionalism, integrity, reliability, and seamless service delivery. The Company noted that its expanding claims portfolio and sustained strategic investments continue to reinforce stakeholder confidence and validate its position as a trusted player within Nigeria’s insurance industry.
As part of its long-term objectives, KBL stated that it would continue investing in human capital development, technology-driven solutions, operational efficiency, and product innovation aimed at delivering greater value to customers and stakeholders.
The Company reaffirmed its dedication to excellence, efficient claims administration, and the provision of quality insurance solutions designed to guarantee peace of mind and enduring financial protection.
KBL Insurance Limited is a trusted general insurance provider committed to delivering innovative and reliable risk management solutions to individuals and businesses across Nigeria. Guided by professionalism, integrity, innovation, and customer satisfaction, the Company continues to provide responsive insurance services tailored to the evolving needs of its customers while contributing meaningfully to the growth of Nigeria’s insurance industry.
The Federal Ministry of Finance has disputed a claim that the Federal Government’s interest payments reached 124 per cent of its revenue in the first half of 2026, describing the figure as misleading.
The ministry said recent analysis and public commentary, which cited the World Bank’s October 2026 Nigeria Development Update, compared mismatched interest figures against an incomplete revenue base.
In a statement released on Sunday, the ministry said the 124 per cent interest calculation includes the debt serviced by the federal government on behalf of other tiers of government, including external loans to states.
“Measuring this against federal revenue alone overstates the ratio, which is only meaningful when debt and revenue cover the same level of government,” the statement said.
The ministry also asserted that the reported revenue is incomplete as it excludes the independent revenue earned by government agencies and enterprises but not yet remitted to the treasury.
“In addition, more revenue is typically earned in the second half of the year than in the first due to the statutory timing of certain payments. This is why the ratio stood at 156% in H1 2025, while the full-year 2025 debt service-to-revenue ratio was below 60%, down from 97% before the reforms,” it stated.
The ministry explained that federal revenue rose by 72 per cent from ₦3.6 trillion in the first half of 2025 to ₦6.2 trillion in the corresponding period of 2026.
Interest payments, however, rose by 38 per cent, from ₦5.6 trillion to ₦7.7 trillion over the same period, according to the ministry.
“The interest-to-revenue ratio fell by 32 percentage points in a single year, from 156% to 124%, and the gap between interest and revenue narrowed from ₦2.0 trillion to ₦1.5 trillion,” the ministry said.
The ministry attributed the changes to the current administration’s economic reforms, arguing that revenue is growing faster than interest costs.
It argued that a six-month figure alone should not be used to evaluate the sustainability of government debt.
“Debt sustainability is assessed on a full-year basis, not over six months,” the statement said.
Citing the World Bank report, the ministry said Nigeria’s full-year 2026 debt service, covering both interest and principal, is projected at 46 per cent of revenue, and that this forecast is the appropriate benchmark for assessing the country’s debt-service burden.
The ministry noted that all borrowing falls within the limits approved by the National Assembly under the 2026 Appropriation Act and the approved borrowing plan, in compliance with the Fiscal Responsibility Act 2007 and the Debt Management Office (Establishment) Act 2003.
“We encourage analysts and commentators to apply the same rigour they seek to hold the government to: compare like with like, read figures in context, and seek clarification where the data is unclear,” the ministry said.
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Nigerian Exchange Group Plc (NGX Group) and its partners are advancing cross-border investment collaboration among African capital markets, with engagements in Cairo, Egypt, and Addis Ababa, Ethiopia, exploring how market infrastructure and institutional partnerships can improve investment access across the continent.
Using the Dangote Petroleum Refinery and Petrochemicals FZE offer as a practical context, the discussions focused on connecting investors across jurisdictions and mobilising African capital for industrial development.
Held on Thursday, 15 October 2026, the engagements were hosted in Cairo by the Egyptian Exchange (EGX), in collaboration with the African Export-Import Bank (Afreximbank), and in Addis Ababa by the Ethiopian Securities Exchange (ESX).
They brought together exchange leaders, financial institutions and other capital market stakeholders to explore practical approaches to improving market connectivity, broadening investor participation and mobilising African capital for productive investment.
Speaking during the discussions, Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, emphasized the importance of addressing longstanding structural barriers that limit investment flows across African markets.
He noted that the continent possesses substantial pools of institutional capital, but stronger market infrastructure and cooperation are needed to connect these resources with investment opportunities across national borders. “Africa has substantial capital within its own markets, particularly across pension funds and insurance companies.
The challenge is how to connect that capital to investment opportunities across the continent.
The Dangote Refinery offer provides a practical opportunity to address some of the infrastructure barriers to cross-border investment. Beyond a single transaction, it is about creating connections that enable African capital to finance African growth,” Popoola said.
Aliko Dangote, President and Chief Executive of Dangote Industries Limited, highlighted the refinery as an example of the scale of industrial investment required to strengthen Africa’s productive capacity, reduce dependence on imports and support long-term economic growth.
He emphasised the importance of developing stronger channels through which African capital can support major industrial projects across the continent. He also commended NGX Group for its role in bringing African exchanges together around the initiative and acknowledged the participating exchanges for their collaboration.
Alhaji (Dr.) Umaru Kwairanga, Group Chairman of NGX Group stressed that lasting progress would depend on sustained institutional cooperation and the development of market infrastructure that makes cross-border investment more accessible and efficient. “Our task is not simply to collaborate around one offer, but to develop lasting partnerships that support cross-border investment and capital formation across Africa.
This requires cooperation among exchanges, regulators, financial institutions and businesses, alongside investment in the infrastructure and technology that make participation more accessible,” Kwairanga said.
At the Cairo engagement, Omar Radwan, Executive Chairman of the Egyptian Exchange, highlighted the potential for instruments such as Egyptian Depositary Receipts (EDRs) to provide a channel through which Egyptian investors could access selected African businesses. He expressed EGX’s readiness to work with Dangote Industries to explore a possible framework for such an arrangement.
Dr. George Elombi, President and Chairman of Afreximbank, reaffirmed the bank’s longstanding financing relationship with Dangote Industries and its commitment to supporting African industrial development. He highlighted the importance of mobilising African investment towards enterprises capable of contributing to the continent’s economic transformation.
In Addis Ababa, discussions focused on expanding investment opportunities for Ethiopian investors and strengthening Ethiopia’s participation in Africa’s evolving capital market landscape.
Yodit Kassa, Chief Executive Officer of ESX, welcomed the engagement, noting its significance for Ethiopian investors and the country’s growing capital market. “The Dangote Petroleum Refinery offer represents an important opportunity for Ethiopian investors to participate in the growth of one of Africa’s leading industrial enterprises. It also reflects the growing confidence in Ethiopia’s capital market and our readiness to work with leading institutions across the continent,” Kassa said.
The Cairo and Addis Ababa engagements followed earlier stops at the Nairobi Securities Exchange and the Botswana Stock Exchange, extending discussions on cross-border investment across multiple African markets. The discussions also highlighted the practical requirements for cross-border participation, including regulatory recognition, distribution, investor verification, settlement, custody and access to reliable information.
The offer provides a real-world opportunity for exchanges, regulators, intermediaries and financial technology platforms to address these considerations and explore workable solutions within their respective regulatory frameworks. For participating markets, it also raises the question of how local savings can be channelled more efficiently into productive enterprises across the continent.
NGX Group remains committed to working with partner exchanges and financial institutions to strengthen market infrastructure, expand cross-border investment access and advance collaboration among African capital markets, contributing to the continent’s long-term economic and industrial development.