Speaking during a press conference ahead of his inauguration, Orimolade expressed appreciation to members of the media for their continued partnership in promoting the growth and development of Nigeria’s insurance sector. He described the media as critical stakeholders in shaping public understanding, promoting professionalism, and amplifying initiatives that will boost confidence in the industry.

Orimolade, a distinguished chartered insurer with over 28 years of experience in the financial services sector, currently serves as the pioneer and Chief Executive Officer of Stanbic IBTC Insurance Limited.

Throughout his career, he has held key leadership positions, including Chief Executive Officer of Zenith Insurance, Law Union & Rock Insurance Plc, and AIICO Insurance Plc, as well as Regional Director for West Africa at Liberty Life.

He outlined the strategic priorities of his administration, which include accelerating the digital transformation of the Institute’s operations, upgrading CIIN’s physical infrastructure at its Lagos headquarters and across its chapters in the six geopolitical zones and the Federal Capital Territory, and intensifying insurance awareness campaigns to improve insurance penetration and increase the industry’s contribution to Nigeria’s Gross Domestic Product (GDP).

According to him, these initiatives are in line with the Institute’s statutory responsibility of setting and maintaining professional standards for insurance practitioners while equipping members with the knowledge and skills required to meet the evolving demands of the profession.

The incoming President assured stakeholders that his administration would be guided by transparency, accountability, measurable performance indicators, and periodic reviews to ensure the successful implementation of its programmes.

He expressed confidence that the planned reforms would enhance professionalism, encourage innovation, deepen insurance awareness, and position Nigeria’s insurance industry as more resilient, inclusive, and globally competitive, ultimately contributing to the country’s economic growth.

A Fellow of the Chartered Insurance Institute of Nigeria and the Institute’s current Deputy President, Orimolade holds a Bachelor of Science degree in Insurance and a Master of Science degree in Marketing from the University of Lagos, as well as a Diploma in Risk Management from York University, Canada. He is also a member of the Nigerian Insurers Association and the Nigerian Institute of Management.

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Speaking at the opening of the Second Biennial Conference of the Capital Market Academics of Nigeria in Abuja, Agama described the academic community as an indispensable partner in shaping effective regulations through research and intellectual engagement.

He said sound policymaking depends on credible evidence and innovative ideas, stressing that research generated through academic studies, conferences and scholarly publications provides valuable insights for responding to the changing dynamics of the financial markets.

According to the SEC Director-General, the Commission considers academics strategic stakeholders whose contributions can improve regulatory decisions, strengthen investor confidence and support long-term market development.

Agama noted that Nigeria’s capital market is entering a new phase following the enactment of the Investments and Securities Act, 2025 and the implementation of a new 10-year Capital Market Master Plan, making continuous research and constructive policy dialogue more important than ever.

He emphasised that ongoing reforms require rigorous analysis, independent scrutiny and informed debate to ensure that regulatory frameworks remain responsive to emerging challenges while reflecting global best practices.

Commending CMAN for choosing equitable and inclusive growth as the conference theme, Agama described the focus as timely and aligned with Nigeria’s broader economic development priorities.

He encouraged participants to ensure that their discussions translate into practical recommendations capable of shaping future regulations and enhancing the efficiency of the capital market.

“The Commission’s door is open to evidence, to challenge and to fresh ideas, wherever they may lead. The finest measure of these two days will not be the sessions we hold, but the policies and the practices they go on to shape,” he said.

Agama reiterated the SEC’s readiness to work closely with researchers and academic institutions to advance knowledge, strengthen market regulation and support the sustainable growth of Nigeria’s capital market.

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The updated forecast was revealed during the IMF and World Bank Spring Meetings held in Washington, D.C., where officials cautioned that energy and supply chain disruptions caused by the war are weakening economic recovery across the region.

IMF Chief Economist Pierre-Olivier Gourinchas explained that the downgrade highlights the wider challenges confronting countries that rely heavily on imported energy.

“For Sub-Saharan Africa, we are observing a downward revision in growth and a rise in inflation in several countries within the region,” Gourinchas stated. “The effects are largely consistent with what we are witnessing globally, particularly for nations that depend on energy imports.”

He further noted that the Fund is actively engaging with several countries to assess their needs under the current circumstances and is working closely with the International Energy Agency and the World Bank to address disruptions in the energy market.

Also speaking on the issue, Denz Igan, Chief of the IMF Research Department’s World Economic Studies Division, said the 0.3 percentage point reduction reflects multiple economic pressures.

“Higher costs of fuel and fertilizer caused by the war, along with increased shipping expenses, are expected to slow non-oil economic activities in Nigeria,” Igan said. “Although rising oil prices provide some support, the overall outlook points to slower growth in 2026, with a projected improvement in 2027.”

The IMF also forecasts that median inflation across Sub-Saharan Africa will increase from 3.4 percent in 2025 to 5 percent in 2026, driven by elevated oil and fertilizer prices, possible fuel supply shortages, and rising operational costs.

Regarding Nigeria, she emphasized that maintaining a tight monetary policy will be essential for meeting the inflation target set by the central bank.

Additionally, the IMF pointed out that bilateral aid to Sub-Saharan Africa declined by 16 to 20 percent in 2025, removing an important financial cushion at a time when commodity and shipping costs are surging.

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The SEC Boss, who made the appeal in his keynote address delivered at the Emerging Africa Capital Limited Investor Summit & Awards event with the theme “Deploying and Mobilizing Capital and Investment Strategies in a Shifting Global Economy”, noted that recent reforms initiated by the commission to transform the capital market were achieving desired results but stressed that a collective approach in pushing them would help in positioning Nigeria as a leading investment landscape in the global space.

Agama, who elaborately highlighted the implications of the current macroeconomic uncertainties in the global economic order for all economies globally, pointed out that while some countries remained the choice of many investors now due to quick returns opportunities, in the long run countries like Nigeria would offer longer benefits in view of their huge but yet to be fully explored opportunities.

According to him, Nigeria’s capital market has demonstrated considerable resilience in the face of the headwinds as the regulatory reforms, including the introduction of electronic offerings, the deepening of the bond market, the expansion of alternative investment platforms, and the SEC’s engagement with sustainable finance principles have begun to bear fruit in attracting renewed investor interest, indicative of a market in active evolution.

Despite the feats, the Director-General admitted that the full potential of what the capital market can do for Nigeria’s development had not yet been fully unlocked as the market capitalization, relative to GDP, remained below the benchmarks of Nigeria’s peer economies, while retail investor participation is still too thin and  derivatives market is at its nascent stage.

To translate the potential to real gains for investors and the nation’s economy, Agama advocated collective responsibility since the  capital market cannot be single-handedly built by regulators, exchanges or by investors alone, pointing out that its strength lies in stakeholders playing their roles with integrity, competence, and long-term orientation.

Specifically, he advised domestic corporate issuers to embrace the capital market as their primary pathway to growth financing by improving governance, sharpening disclosure, and building the investor relations capabilities that attract institutional capital.

He assured: “The market rewards quality, and the companies that invest in quality today will access capital on terms that compound their competitive advantage.”

This is even as he urged domestic institutional investors, particularly pension fund administrators and insurance companies to deepen their engagement with domestic capital market instruments, to participate actively in the price discovery process, and to develop the analytical capacity to invest confidently across asset classes and geographies as Nigeria’s savings pool is a resource of enormous strategic significance.

Similarly, the SEC boss assured foreign investors and development finance institutions that Nigeria remained open for investments as the SEC continued to create a regulatory environment that is principles-based, transparent, and aligned with international best practices.

The Director-General also appealed to his colleagues in the Central Bank of Nigeria (CBN), Debt Management Office(DMO), National Insurance Commission (NAICOM), the Pension Commission (PenCom), and other relevant agencies tocontinue to deepen inter-agency collaboration, harmonize our policies, and present a unified, investor-friendly face to the world as the sophistication of the nation’s capital market depended on the coherence of their regulatory frameworks.

On the promise of capital deployed with purpose, Agama said: “The history of economic development is, at its core, the history of how societies have organized the deployment of capital. The nations and peoples that have built great economies have done so not simply because they were endowed with resources, but because they developed the institutions, the instruments, and the discipline to channel those resources toward their highest and most productive uses.

“Nigeria stands at an inflection point. The global economy is shifting in ways that create both significant risks and significant opportunities for an emerging market of our scale and potential. The decisions we make — individually as investors and collectively as a financial community — in the next three to five years will determine whether we capture the upside of this moment or allow it to pass us by”, he added.

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The Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari, made this submission in a keynote address on industry operations with the theme, “Stability in the Energy Sector: Integrated Strategies for Infrastructure, Transportation and Security,” at the 2024 edition of Society of Petroleum Engineers Oloibiri Lecture Series and Energy Forum (SPE OLEF) held in Abuja, on Thursday.

To bridge the energy access gap in Nigeria, Kyari said NNPC Ltd was working on developing the right infrastructure to deliver oil and gas to drive prosperity for Nigerians.

“We are committed to developing gas infrastructure across the country,” Kyari stated, stressing that the company’s commitment was not just a statutory requirement of the Petroleum Industry Act, but a pledge to ensure energy security beyond fuel supply.

“We are dedicated to investing in critical infrastructure to enhance economic prosperity by supplying gas to the domestic market, targeting at least 8 billion cubic meters,” Kyari added.

He listed some of the infrastructural projects being undertaken by the NNPC Ltd to help bridge the energy access gap in Nigeria to include the Obiafu/Obrikom/Oben (OB3) and Ajaokuta-Kaduna-Kano (AKK) pipelines, adding that they are designed to enhance the nation’s gas supply network. 

On the global front, Kyari said NNPC Ltd was working on expanding gas supply to the international market primarily through the NLNG Train 7 project while efforts were also being made to kick off Train 8 as well as the various floating LNG initiatives. 

Kyari called for support in leveraging Nigeria’s abundant gas resources for economic prosperity, emphasizing the need to bridge access gaps in electricity and clean cooking fuel. 

He assured stakeholders and investors of the support of President Bola Ahmed Tinubu, whom he said is committed to the gas revolution. 

Also speaking at the event, Chairperson of the Society of Petroleum Engineers (SPE) Nigeria Council and Head of Asset and Investments Management, NGPIS, Engr. Salahuddeen Tahir, emphasized the critical role of energy in modern society, stating: “It’s a trigger for essential services such as transportation, heating, electricity generation, medical services, security, banking services, and communication.”

Tahir said there was need to develop a diversified and sustainable energy transportation system as a measure for mitigating climate change and enhancing energy security.

This year’s edition of the Society of Petroleum Engineers Oloibiri Lecture Series and Energy Forum (SPE OLEF) is the 24^th

 in the series having debuted in 1991. The forum is focused on contributing to Nigeria’s oil and gas industry policy development in commemoration of the first commercial oil discovery in Nigeria by Shell D’Arcy at Oloibiri, Bayelsa State in 1956.

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