Economy
How Wills, Trust and Health Insurance Can Save Lives
By Gbolahan Oluyemi
In the past years, there has been a sharp rise in diagnosis for major diseases. The development led to an increase in the need for organ transplants by patients suffering from these diseases.
The dwindling medical equipment in public health institutions, systematic migration of health professionals and incessant strike action by public health care workers also worsened the situation.
Other than the institutional problems, most patients usually experience three common challenges when diagnosed with major diseases.
First is the availability of funds to cover the cost of medical treatment. Second is the availability of organs in cases where an organ transplant is required, and the last is the availability of necessary equipment and health care professionals with the needed expertise.
Amid these challenges, subscribing to health insurance, the existence of a health Trust fund and a growing Will writing culture are three tools that can save lives.
One major benefit of health insurance is that it guarantees access to health care irrespective of the current financial status of the patient.
Asides from guaranteeing access to health care, health insurance can indirectly prevent the prevalence of major diseases. This is because most people ignore health symptoms and self-medicate.
This act is attributed to either failure to prioritize health indicators, the cost associated with healthcare or in some cases, the preference for herbs.
Cost-free healthcare under health insurance will encourage people to seek help regarding their symptoms and enhance the early detection of diseases.
Further, health insurance absorbs a substantial part of the treatment cost in cases of major disease and may also cover post-treatment health expenses.
Another salient benefit of health insurance is that it protects patients from medical inflation. The cost of medications is rising, especially when there is a pandemic or increase in the number of persons contracting such disease. Health insurance ensures that Patients do not have to bear the brunt of inflation.
Lastly, reputable Health Insurers/HMOs educate their enrollees.
I personally use Leadway Health and I have been periodically educated on topics such as mental health, COVID -19 Vaccines and Aerobics vis-à-vis my health. This is in addition to the access to qualitative healthcare I enjoy being an enrollee.
Some patients also encounter difficulty in raising funds for their treatment. Sometimes, critically ill persons are constrained to seek financial help on social media platforms. Some patients are unlucky and may be unable to raise the needed fund till their demise.
From experience, Nigerians like to donate to such a life-saving cause. However, the activities of fraudsters and gain seeking individuals discouraged potential helpers from donating.
From experience, these doubts are reoccurring in the minds of donors when invited to support an unknown critically ill person.
The donor’s confidence will be boosted by setting up Charitable Trust with a reputable Trust company regulated by the Securities and Exchange Commission (SEC).
The Trust is funded by public donations and administered for the benefit of critically ill persons strictly on the recommendation of Medical Directors of designation public health institutions.
The residue of the fund can also be applied towards buying critical equipment for public health care institutions. Given the flexibility of Trust, the Corporate Trustee can on certain terms assist in seeking credit to fund pending treatments pending the receipt of donations.
If such an arrangement is in place, financially challenged ill persons will be referred to the Corporate Trustee for disbursement.
However, there is a need to have an organization saddled with the responsibility of publicizing the Trust and encouraging voluntary contributions to the Trust by the members of the public.
Will writing can also be used to save lives, especially regarding the donation of body organs and tissues for transplant. Before now, Nigerians were only accustomed to donating their chattels, shares, money and landed property in their Wills.
However, section 55 of the National Health Act expanded this by allowing persons to donate their body organs and tissues through a Will or document executed in a similar manner.
Every person who is competent to write a Will, may in the Will or a document signed in the presence of at least two (2) competent witnesses donate body organ or any specified tissue to be used after his/her death for training, health research and advancement and most importantly for therapy, including the use of tissue in any living person or production of a therapeutic, diagnostic or prophylactic substance.
This simple act of writing a Will and donating body organs can save lives and make organs available to many for transplant. However, this process should be with the guide of a Medical Practitioner.
This is to ensure the donated organ is timely removed and preserved for use. A Will takes effect from the death of the testator (i.e. the person writing the Will). At death, these organs are no longer useful to the deceased, but they could save a life, can keep a breadwinner alive, keep the candles of hope burning.
Putting good use to health insurance, Trust and Will writing can save numerous patients deprived of treatment due to lack of funds or unavailability of funds. These days, the people are losing confidence in the ability of the government and its institutions to guarantee affordable and qualitative health care. Hence, people must be creative and explore other alternatives to staying alive.
I am available for a discussion on how health insurance, Trust and Wills via [email protected].
Nigeria’s business environment continues to evolve rapidly, presenting both opportunities and challenges for entrepreneurs. In recent years, digital transformation has become a cornerstone for growth, with businesses across various sectors embracing new technologies to remain competitive. For those looking to thrive in this dynamic landscape, understanding market trends and leveraging innovative strategies is crucial.
Whether it’s a startup or an established enterprise, success often hinges on adaptability, strategic planning, and the ability to seize emerging opportunities. Even in sectors like entertainment and sports, where trends shift quickly, businesses must stay agile to maintain relevance. For instance, some entrepreneurs are exploring new revenue streams such as online platforms, including activities like แทงบอล ufabet, which have gained popularity due to their accessibility and appeal to a broad audience.
The Nigerian Business Landscape in 2025
The Nigerian business landscape in 2025 is marked by rapid technological adoption, increased competition, and a growing demand for digital solutions. Sectors such as fintech, e-commerce, and digital marketing have seen significant growth, driven by a young, tech-savvy population. Entrepreneurs are now leveraging digital tools to streamline operations, reach wider audiences, and improve customer engagement. The government’s push for economic diversification has also created new opportunities in agriculture, manufacturing, and renewable energy. However, businesses must navigate challenges such as regulatory hurdles, infrastructure gaps, and fluctuating market conditions. Despite these obstacles, the resilience and creativity of Nigerian entrepreneurs continue to drive innovation and growth.
Why Strategic Planning is Essential
Strategic planning is the foundation of any successful business. It involves setting clear goals, identifying resources, and developing actionable steps to achieve objectives. In Nigeria’s competitive market, businesses that invest time in strategic planning are better equipped to anticipate challenges, capitalize on opportunities, and adapt to changing circumstances. Effective planning also helps businesses allocate resources efficiently, minimize risks, and maximize returns. Entrepreneurs should regularly review and update their strategies to stay aligned with market trends and customer needs. By doing so, they can maintain a competitive edge and position their businesses for long-term success.
Leveraging Digital Tools for Growth
Digital tools have revolutionized the way businesses operate in Nigeria. From cloud-based software to social media platforms, these tools enable businesses to automate processes, enhance communication, and reach a global audience. For example, e-commerce platforms allow businesses to sell products online, while digital marketing tools help them target specific customer segments and measure campaign effectiveness. Additionally, mobile payment solutions have made transactions faster and more secure, improving customer satisfaction. By embracing digital transformation, businesses can increase efficiency, reduce costs, and expand their market reach.
Building a Strong Team Culture
A strong team culture is vital for business success. It fosters collaboration, boosts morale, and drives innovation. Nigerian entrepreneurs should prioritize creating a positive work environment where employees feel valued and motivated. This can be achieved by promoting open communication, recognizing achievements, and providing opportunities for professional development. A cohesive team is more likely to overcome challenges, generate creative solutions, and contribute to the overall growth of the business. Investing in team-building activities and leadership training can further strengthen the organizational culture.
Overcoming Common Challenges
Nigerian businesses face a range of challenges, including access to finance, regulatory compliance, and competition. Access to capital remains a major hurdle for many entrepreneurs, particularly startups and small businesses. Regulatory compliance can also be complex and time-consuming, requiring businesses to stay informed about changing laws and policies. Additionally, intense competition in key sectors can make it difficult for businesses to differentiate themselves. To overcome these challenges, entrepreneurs should seek support from government agencies, industry associations, and financial institutions. Building strong networks and partnerships can also provide valuable resources and guidance.
Adapting to Market Trends
Adapting to market trends is essential for staying relevant in Nigeria’s fast-paced business environment. Entrepreneurs must stay informed about emerging trends, consumer preferences, and technological advancements. This can be achieved by conducting market research, attending industry events, and monitoring competitor activities. By anticipating changes and responding proactively, businesses can seize new opportunities and mitigate potential risks. For example, the growing demand for sustainable products and services presents opportunities for businesses to innovate and differentiate themselves.
Importance of Financial Management
Effective financial management is critical for business sustainability and growth. It involves budgeting, cash flow management, and financial reporting. Nigerian entrepreneurs should prioritize financial literacy and seek professional advice when needed. Proper financial management enables businesses to track performance, make informed decisions, and secure funding. It also helps businesses comply with regulatory requirements and build trust with stakeholders. By maintaining sound financial practices, entrepreneurs can ensure the long-term viability of their businesses.
Future Outlook for Nigerian Entrepreneurs
The future outlook for Nigerian entrepreneurs is promising, with continued growth expected in key sectors such as technology, agriculture, and renewable energy. The government’s focus on economic diversification and infrastructure development is likely to create new opportunities for businesses. Additionally, the rise of digital platforms and e-commerce is expected to drive innovation and expand market reach. Entrepreneurs who embrace change, invest in digital transformation, and prioritize strategic planning are well-positioned to succeed in Nigeria’s evolving business landscape.
By Adedapo Adesanya
The federal government, states and the Local Government Councils have received a sum of N1.928 trillion from the revenue generated in November 2025 by the federation.
According to a statement by the Federation Account Allocation Committee (FAAC), the earnings were shared at the December 2025 FAAC meeting held in Abuja, where the total distributable revenue comprised statutory revenue of N1.403 trillion, Value Added Tax (VAT) revenue of N485.838 billion, and Electronic Money Transfer Levy (EMTL) revenue of N39.646 billion.
It was disclosed that total gross revenue of N2.343 trillion was available in the month of November 2025, with N84.251 billion deducted for cost of collection and N330.625 billion for total transfers, interventions, refunds and savings.
FAAC stated that gross statutory revenue of N1.736 trillion was received for the month of November 2025, lower than the N2.164 trillion received in the month of October 2025 by N427.969 billion.
Gross revenue of N563. 042 billion was available from VAT in November 2025, lower than the N719.827 billion available in the month of October 2025 by N156.785 billion.
In November 2025, Excise Duty increased moderately while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), CIT on Upstream Activities, Companies Income Tax (CIT), CGT and SDT, Oil & Gas Royalties, Import Duty, CET Levies, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL) and Fees recorded substantial decreases.
From the N1.928 trillion total distributable revenue, the federal government got N747.159 billion, the state governments received N601.731 billion, and the local councils shared N445.266 billion, while N134.355 billion was given to benefiting states as 13 per cent of mineral derivation.
On the N1.403 trillion distributable statutory revenue, the national government received N668.336 billion, the 36 states got N338.989 billion, and the LGAs received N261.346 billion, and N134.355 billion shared as 13 per cent of mineral revenue.
In addition, from the N485.838 billion distributable VAT revenue, the central government got N72.876 billion, the state governments shared N242.919 billion, and the local councils shared N170.043 billion.
Further, N5.947 billion was taken by the federal government from the N39.646 billion EMTL, the states shared N19.823 billion, and the councils received N13.876 billion.
By Adedapo Adesanya
The duo of Golden Capital Plc and FrieslandCampina Wamco Nigeria Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.04 per cent on Monday, December 15.
This pulled down the NASD Unlisted Security Index (NSI) by 1.37 points to 3,599.06 points from last Friday’s 3,600.43 points and the market capitalisation lost N820 million to close at N2.153 billion compared with the preceding session’s N2.154 trillion.
Golden Capital Plc depleted by 94 Kobo to end at N8.51 per share compared with N9.45 per share and FrieslandCampina Wamco Nigeria Plc depreciated by 63 Kobo to sell at N59.60 per unit versus N60.23 per unit.
During the session, the volume of securities traded at the session slumped by 98.4 per cent to 600,402 units from 37.4 million units, the value of securities fell by 99.8 per cent to N7.8 million from N4.9 billion, and the number of deals shed 36.4 per cent to 21 deals from 33 deals.
At the close of trades, Infrastructure Credit Guarantee Company (InfraCredit) Plc remained the most traded stock by value with a year-to-date sale of 5.8 billion units valued at N16.4 billion, followed by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
InfraCredit Plc was also the most traded stock by volume on a year-to-date basis with 5.8 billion units worth N16.4 billion, trailed by Industrial and General Insurance (IGI) Plc with the sale of 1.2 billion units for N420.3 million, and Impresit Bakolori Plc with 537.0 million units traded for N524.9 million.
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