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Business News

Linkage Assurance set to cover farmers

Linkage Assurance Plc gets NAICOM’s approval to underwrite agric insurance.

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NEXIM Bank, Agriculture, Agriculture: Looking beyond the provision of finance   

In a move to sustain and achieve long-term growth expectation in Nigeria’s agricultural sector, National Insurance Commission (NAICOM), has given Linkage Assurance Plc the approval to underwrite agric insurance.

The products approved include Linkage Assurance Crop Insurance Solutions, Linkage Assurance Farm All Risk lnsurance, Linkage Assurance Farm Motor Insurance, and Linkage Assurance Livestock lnsurance solutions.

NAICOM’s approval will allow the underwriting firm to support the farmers and service providers in the agricultural value chain for greater sustainability and economic growth.

The company said that Nigeria’s agribusiness sector needs insurance to remain sustainable and achieve long-term growth expectation, adding that stakeholders in the agricultural value chain need to embrace insurance by reducing retained risk and transferring the burden to insurers for effective risk management.

The Linkage Assurance Crop Insurance Solutions provides cover against unavoidable loss of crops or resulting directly from the insured perils, example flood, drought, excessive rains, hailstorm, diseases, and pest, with covers including Weather lndex Crop Insurance, Area Yield – lndex Crop lnsurance, and Multi-peril Crop Insurance.

The Linkage Assurance Farm All Risk lnsurance is designed to cover the farm buildings/contents, farm products, and machineries against theft and fire.

In its half-year 2018 results for the period ended June 2018, Linkage Assurance Plc recorded a gross premium income of N2.49 billion in 2018 as against N2.06 billion in the same period in 2017, which shows an increase of N436 million.

Profit before tax, however, dropped from N2.44 billion in H1 2017 to N750 million in 2018. In the same vein, profit after tax slipped from N2.29 billion in H1 2017 to N493 million in 2018. The company reported an earning per share of 6.2 kobo in this period, compared to 28.7 declared in 2017.

The insurance firm’s stock traded at N0.74 during trading session on the floor of the Nigerian Stock Exchange (NSE).

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ).Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Coronavirus

Covid-19: WHO approves China’s Sinopharm vaccine

WHO has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.

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Covid-19: First world nations oppose waiving intellectual rights for vaccine development

The World Health Organization (WHO) has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.  The vaccine is reported to have 79% efficacy against covid.

This was disclosed today in a report by Reuters. The vaccine would also be the second Chinese-made vaccine after Sinovac vaccine and would be the first developed outside Europe and North America to receive WHO accreditation.

“This expands the list of COVID-19 vaccines that COVAX can buy, and gives countries confidence to expedite their own regulatory approval, and to import and administer a vaccine,” WHO Director-General, Tedros Adhanom Ghebreyesus said.

The WHO added that the easy storage requirements make it highly suitable for low-resource settings.

“Its easy storage requirements make it highly suitable for low-resource settings,” a WHO statement said while also disclosing that the vaccine has been approved for people above the age of 18 to receive two shots.

“On the basis of all available evidence, WHO recommends the vaccine for adults 18 years and older, in a two-dose schedule with a spacing of three to four weeks,” the statement added.

The vaccine was created by Beijing Biological Products Institute, a subsidiary of Sinopharm subsidiary China National Biotec Group, with an efficacy of 79% for all age groups.

The WHO however, admitted that few older adults (over 60 years) were enrolled in clinical trials, so efficacy could not be estimated in this age group.

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The quest for vaccine efficiency got a major boost earlier this week as Nairametrics reported that the United States government announced that it supports the waiver of Intellectual Property Protections on Covid-19 vaccine development, in a bid to boost the fight against the pandemic, and says it will participate in the Okonjo-Iweala-led WTO negotiation to make it happen.

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Obituaries

“Mama Taraba”, Former minister and senator, Aisha Al-Hassan is dead

Ex-Women Affairs minister, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead

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A former Minister for Women Affairs and ex-Governorship Candidate in Taraba State, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead.

According to media reports she died in a hospital on Friday in Cairo, Egypt at the age of 61.

Al-Hassan, who was a former senator of the Federal Republic of Nigeria from Taraba North Senatorial District, was the All Progressive Congress (APC) Governorship Candidate for Taraba in the 2015 general elections.

READ: Abba Kyari’s last letter to President Buhari

She later contested for the same seat on the platform of the United Democratic Party in the 2019 general elections after resigning from APC and as a minister in the administration of President Muhammadu Buhari on July 27, 2018.

The former senator was born on the 16th of September, 1959 in Jalingo, Taraba State, to Alhaji Abubakar Ibrahim, Sarkin Ayukan Muri.

READ: Chad’s President Deby dies of injuries suffered on the frontlines, as son takes over

Aisha Jummai Al-Hassan attended Muhammed Nya Primary School, Jalingo and LEA Primary School, Tudun Wada, Kaduna before proceeding to Saint Faith College (now GGSS) Kawo Kaduna where she studied between January 1973 and June 1977.

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