Business
Q4 2025: Oil, Gas and Annuity Drive Insurance Premium to N2.3tn as Assets Rise to N4.79tn
The fourth quarter of 2025 witnessed impressive growth in Nigeria’s insurance sector, with Gross Premium Written (GPW) reaching a remarkable N2,301.8 billion, reflecting exceptional performance driven by ongoing regulatory measures aimed at deepening the market.
This growth was largely influenced by the Oil and Gas business in the non-life segment and the continued expansion of Annuity funds in the life insurance segment.
This was contained in the Fourth Quarter 2025 Bulletin of Insurance Market Performance, released today by the National Insurance Commission (NAICOM). According to the report, the industry’s performance during the period recorded growth many times higher than the national output of 3.9 per cent, underscoring its increasing relevance and structural importance within Nigeria’s financial ecosystem.
The Commission noted that this commendable progress is largely attributable to rising public confidence in the insurance market.
The non-life insurance segment continued to dominate the market, contributing 68.4 per cent of the total premium pool, consistent with the trend recorded in the corresponding quarter of 2024. The life insurance business accounted for 31.6 per cent during the period under review.
Further insights into the non-life category revealed that the Oil and Gas business remained the leading portfolio, representing 30.3 per cent of all non-life premiums generated.
This was followed by Fire Insurance, which held a notable 20.4 per cent share, while Motor Insurance accounted for 16.1 per cent. Other segments, including Miscellaneous, General Accident, Marine, and Aviation, contributed 11.9 per cent, 9.5 per cent, 8.7 per cent, and 3.2 per cent, respectively.
On the other hand, the life insurance segment was led by Annuity funds, in contrast to the pattern reported in the previous quarter, contributing approximately 44.3 per cent of all premiums recorded in the segment.
Individual Life business accounted for 36.2 per cent, while Group Life contributed 19.5 per cent during the quarter under review.
The report further showed that the industry’s total assets rose to N4,791.6 billion, representing a 7.4 per cent expansion, thereby sustaining an upward trajectory relative to the previous quarter, when it stood at N4,460.2 billion.
It added that statistics on the market’s financial position also indicated a total of N2,602.4 billion in assets attributable to the non-life business, while the life insurance segment accounted for N2,189.2 billion at the close of the period.
The report noted that the Nigerian insurance industry has demonstrated significant resilience despite a challenging macroeconomic environment, maintaining solid performance across critical areas, including premium generation, claims settlement, profitability, and aggregate asset growth.
This, it said, underscores a positive outlook for the sector, especially as its ongoing transformation is expected to position it as a strong pillar capable of supporting Nigeria’s pursuit of a one-trillion-dollar economy.
The post Q4 2025: Oil, Gas and Annuity Drive Insurance Premium to N2.3tn as Assets Rise to N4.79tn appeared first on Business Today NG.
The Ondo State Police Command has dismissed claims of an impending terrorist attack in the state following the circulation of a viral video on social media warning residents of possible attacks in some communities.
In a statement issued by the command, the police described the claims contained in the video, allegedly made by a cleric, as unverified and lacking credible intelligence backing.
The command expressed concern over the panic generated by the video and warned residents against spreading unconfirmed information capable of creating fear and tension across the state.
According to the police, security agencies immediately activated intelligence and operational mechanisms to assess the authenticity of the claims and determine whether there was any threat to public safety.
Commissioner of Police in the state, CP Felix Ohagwu, was said to have ordered a thorough investigation into the source and content of the viral video. The command also disclosed that surveillance operations, intelligence gathering and security deployments had been intensified, particularly in vulnerable areas, to forestall any security breach.
The police, however, reassured residents that there is currently no confirmed intelligence suggesting any imminent attack in Ondo State.
The command added that it remains on high alert in collaboration with other security agencies and stakeholders to ensure the safety of lives and property across the state.
Residents were advised to remain vigilant and report suspicious persons or activities to the nearest police station or relevant security agencies while relying only on verified sources for security-related information.
The police further reaffirmed their commitment to maintaining peace and public order through continued collaboration with community leaders, traditional rulers, vigilante groups and other stakeholders in the state.
The post Ondo Police Dismiss Cleric’s Viral Video of Impending Attacks, Tighten Security appeared first on Business Today NG.
The National Information Technology Development Agency has denied any affiliation with an online earning and marketing platform known as CPM. This rebuttal follows reports that the platform was demanding money from users to repair its allegedly hacked systems.
The agency issued the disclaimer in a statement signed by its Director, Corporate Communications and Media Relations Department, Hadiza Umar, on Monday, describing the reports as false and misleading.
According to media reports, subscribers via the platform operators reported that their systems had been hacked and that additional payments were required from subscribers to resolve the issue and recover funds.
NITDA allegedly was helping them to resolve the issue and that subscribers needed to make additional payments to support the process.
NITDA debunked those reports dissociating itself from CPM, noting that the agency, as a government agency, did not request money.
“NITDA wishes to categorically state that these claims are false and misleading.
“As a government agency and Nigeria’s Information Technology regulator, NITDA does not request or collect money from citizens to provide incident response support, recover funds, or assist private entities in resolving cybersecurity incidents,” NITDA said.
The agency alleged that the efforts of the so-called CPM to disguise itself as NITDA indicated possible social engineering and fraudulent activity. It said the efforts targeted exploiting affected individuals under the pretence of resolving a cybersecurity incident or recovering lost investments.
NITDA warned Nigerians against making financial payments to any bodies or organisations that claim NITDA requires such payments for operations.
“Members of the public are therefore strongly advised to exercise caution and avoid making any additional payments to any individual, group, or platform claiming that such payments are required by or connected to NITDA.
READ ALSO: NITDA, IDCA partner to transform Nigeria’s digital economy
“The reported pattern may indicate possible social engineering or fraudulent activity aimed at exploiting affected individuals under the guise of resolving a cybersecurity incident or recovering lost investments,” the agency said.
NITDA said Nigeria should exercise caution when dealing with online investment and trading platforms and must avoid sending additional funds in an attempt to recover previous investments or losses.
The agency added that online users must verify any claims of government involvement directly through official channels and refrain from sharing sensitive personal or financial information with unverified entities.
The regulator reiterated that Nigerians must promptly report suspicious cyber-related activities to the appropriate authorities to contain increasing risks of online attacks and fraud.
“NITDA remains committed to promoting cybersecurity awareness and protecting the public against cyber-enabled fraud and deceptive online activities.”
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