Business
NCC, NIGCOMSAT Partnership Crucial for Digital Infrastructure Expansion
BY NKECHI NAECHE-ESEZOBOR—The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has called for deeper collaboration, deliberate innovation, and productive interaction with the Nigerian Communications Satellite (NIGCOMSAT) as well as key players across the wider industry to accelerate Nigeria’s digital transformation.
Addressing participants at the 2026 NIGCOMSAT Satellite Week held in Abuja over the weekend, under the theme “Harnessing Space for an Extraordinary Nigeria,” the EVC, who was represented by Ms. Tokundo Oyeleye, noted that gatherings of this kind demonstrate the importance of joint efforts in driving national development.
He stated that the event serves as a meeting point for people and organisations whose dedication to creating a brighter future continues to shape the resilience and growth of Nigeria’s space and satellite sector. He further emphasized that satellite technology has become a vital pillar in the growth of the country’s digital infrastructure.
Maida said: “Its influence can be clearly seen in communications, national security, education, emergency response services, and overall technological advancement.
At the Nigerian Communications Commission, our core objective remains to ensure that these developments translate into real benefits by expanding access, improving service delivery, and opening up meaningful opportunities for Nigerians.
This commitment continues to shape our regulatory direction and guide our programmes. NigComSat’s role in organising this event demonstrates a common determination to position Nigeria more effectively within the global space industry.”
According to the EVC, the theme, “Harnessing Space Technology for an Extraordinary Nigeria,” captures a shared vision rooted in expertise, partnership, and continuous innovation.
“To the researchers, innovators, policymakers, engineers, and young talents in attendance, your efforts continue to influence the future of this sector.
Your commitment, knowledge, and visionary mindset remain essential to the advancement we desire. I am optimistic that the conversations and alliances built throughout this week will result in practical solutions that reinforce both our digital and space sectors.
On behalf of the Nigerian Communications Commission, I applaud NigComSat for providing a platform that promotes meaningful dialogue and solution-oriented collaboration.
We remain dedicated to supporting such initiatives with focus, determination, and unwavering confidence in Nigeria’s potential for development.
I wish everyone a successful and impactful Nigerian Satellite Week 2026. May the relationships formed here contribute to enduring progress for our nation.”
The post NCC, NIGCOMSAT Partnership Crucial for Digital Infrastructure Expansion appeared first on Business Today NG.
Coronation Insurance Plc has announced the launch of MotorMax, an innovative motor insurance policy designed to transform the Nigerian motor insurance landscape by moving motorists beyond basic third-party compliance to affordable, comprehensive vehicle protection.
For decades, motor insurance adoption in Nigeria has largely been limited to mandatory third-party coverage. MotorMaxaddresses this gap by offering motorists robust, accessible protection for their own vehicles, with plans starting from as low as ₦25,000.
MotorMax introduces a flexible, tiered structure—Bronze, Silver, and Gold—tailored to meet the diverse needs and budgets of Nigerian drivers, from urban commuters to long-distance travellers and owners of high-value vehicles.
The MotorMax Bronze plan serves as an entry-level upgrade from basic third-party insurance. Priced at ₦25,000 annually, it offers vehicle repair coverage of up to ₦500,000; third-party vehicle damage coverage of up to ₦3,000,000; unlimited (but reasonable) compensation for third-party injury or death; towing services up to ₦5,000; emergency medical expense coverage up to ₦10,000; and a 10% policy excess.
The MotorMax Silver plan, available at ₦45,000 annually, enhances protection with vehicle repair coverage up to ₦750,000, increased towing benefits of up to ₦15,000 (intra-state) and ₦25,000 (inter-state), and emergency medical coverage up to ₦15,000.
At the premium tier, MotorMax Gold offers motorists near-comprehensive benefits at a significantly lower cost than traditional comprehensive insurance. Priced at ₦50,000 annually, it includes vehicle repair coverage up to ₦1,000,000; third-party vehicle damage coverage up to ₦3,000,000; unlimited liability for third-party injury or death; towing services up to ₦15,000 (intra-state) and ₦25,000 (inter-state); emergency medical coverage up to ₦20,000; and a 10% policy excess.
MotorMax is specifically designed for motorists currently on third-party policies who seek enhanced protection without the financial burden of full comprehensive insurance. By bridging the gap between compliance and comprehensive cover, the product empowers drivers with greater peace of mind on every journey.
Speaking on the launch, Olamide Olajolo, MD/CEO of Coronation Insurance Plc, said:
“MotorMax represents our commitment to reimagining insurance for the everyday Nigerian. We understand that many motorists want more protection than third-party cover but are constrained by cost. With MotorMax, we are providing a practical, affordable solution that delivers meaningful coverage and peace of mind. This is a significant step in deepening insurance penetration and ensuring more Nigerians are truly protected on the road.”
The launch of MotorMax underscores Coronation Group’s broader mission to deliver transformational solutions that address real-life challenges across Africa. By raising the standard for motor insurance offerings, Coronation Insurance continues to position itself as a customer-focused innovator in the industry.
Motorists can purchase MotorMax by emailing digitalsales@coronationinsurance.com.ng or calling 02-012275475 or 02-012275476.
The post Coronation Insurance Redefines Motor Insurance in Nigeria with Launch of MotorMax appeared first on Business Today NG.
BY NKECHI NAECHE-ESEZOBOR—The Naira weakened to ₦1,389 per dollar, down from ₦1,382.75/$ recorded before the Easter break, amid continued pressure in Nigeria’s foreign exchange market.
This contained in a notice posted on the official website of Central Bank of Nigeria,( CBN), that intraday trading saw the local currency fluctuate between ₦1,381/$ and ₦1,390/$, with an average rate of ₦1,386.3/$.
Meanwhile, the country’s external reserves fell by about $850 million over three weeks, declining to $49.18 billion between March 11 and April 2, 2026, highlighting tightening liquidity in the forex market.
Activity in the Non-Deliverable Forward (NFEM) interbank market recorded a turnover of ₦48.66 billion across 71 deals.
The post Naira Slides to ₦1,389/$ as External Reserves Fall to $49.18bn appeared first on Business Today NG.
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