Economy
Weathering the Storm: Why Insurance is Your Shield Against Inflation
Like the dry, dusty Harmattan wind, inflation is blowing across Nigeria, and its chill is felt everywhere. From food to petrol, transportation to housing, prices are rising alarmingly, squeezing budgets and leaving many feeling vulnerable and frustrated. The latest government statistics showed the inflation rate in January rose to 29.9%, its highest since 1996.
But there’s a safe haven in these turbulent times: the shelter of insurance.
However, we must first understand the impact of inflation. Inflation, the sustained increase in the general price level of goods and services, silently erodes the value of your money. What you bought for ₦1000 today won’t cost the same tomorrow.
While inflation may seem like an ‘econospeak’ or an abstract concept to the average person, its effect translates to real-life struggles. Imagine each Naira as a unit of your spending power; inflation, like a thief, steals value from these units, making everything from bread to building materials more expensive. This unpredictable thief adds another layer of worry, as sudden price spikes can leave you, businesses, and property owners exposed.
The impact is felt by everyone:
Individuals:
Daily life becomes a struggle as the cost of living rises, squeezing budgets and creating anxiety.
Businesses:
Operational costs climb, potentially leading to higher prices or lower profits, impacting everyone along the chain.
Property Owners:
Repairing or replacing damaged property becomes even more expensive due to inflation, leaving you exposed financially.
Now, unexpected events are stressful enough, but when combined with rising costs, they can become overwhelming. Imagine facing a sudden medical expense that is twice what it was last year.
We at Coronation understand the worries inflation brings. That’s why we offer comprehensive insurance solutions designed to shield you from the financial blows of rising prices.
INSURANCE: Your Inflation-Proof Shield
Think of insurance as your umbrella deflecting the financial storm of inflation. Insurance serves as a strategic hedge, shielding individuals and businesses from unforeseen financial burdens due to inflationary pressures. Whether through life, health, or property insurance, these risk-mitigation tools provide a safety net. They assist policyholders in navigating economic uncertainties by offering financial support for medical expenses, property damages, or loss of income. Diversifying one’s financial strategy to include insurance helps not only protect assets but also fosters a sense of financial security amidst the dynamic economic landscape.
Here’s how Coronation’s insurance protects you in these uncertain times:
Car Insurance
Imagine your car suffers a breakdown or accident. Without insurance, repair costs, already inflated, can become crippling. Coronation’s Car insurance absorbs this financial blow, ensuring your vehicle gets back on the road quickly and affordably.
Personal Accident Insurance
An unexpected accident can have severe financial consequences, not just from medical bills but also lost income. Coronation’s Personal Accident insurance provides a lump sum payout to cover these costs, easing the burden during a challenging time.
Travel Insurance
Medical emergencies or travel disruptions abroad can be financially devastating. Coronation’s Travel insurance safeguards your trip, covering medical expenses, trip cancellations, and more, ensuring peace of mind wherever you roam.
Home Insurance
Rising repair costs due to inflation can turn a leaky roof or broken appliance into a major expense. Coronation’s Home insurance covers repairs and replacements, shielding your property and your budget from inflation’s bite.
Life Assurance
Life assurance ensures your loved ones are financially secure even if the unforeseen happens. With rising costs, life assurance becomes even more crucial, ensuring your family can maintain their lifestyle and future plans, even in your absence.
At Coronation, we understand that insurance isn’t just a product; it’s a partnership in navigating financial security, especially during turbulent times like inflation. We go beyond simply offering policies; we offer expert guidance to understand your unique needs and risks, recommending the right coverage to effectively counter inflation’s impact.
Worried about rising costs outpacing your insurance coverage? We offer inflation-adjusted policies that automatically adapt their sum insured to match inflation, ensuring your protection stays relevant as prices climb.
Affordability is paramount in these challenging times. That’s why Coronation provides flexible payment options, making sure your insurance remains accessible even when budgets tighten.
Contact a Coronation advisor today to explore how our comprehensive insurance solutions can shield you and your loved ones from the financial anxieties of rising prices.
With Coronation, you’re not just insured; you’re empowered to face the future with confidence.
To explore how our comprehensive insurance solutions can cater to your needs and those of your loved ones, please contact:
By Aduragbemi Omiyale
Shares of First Holdco Plc worth N45.0 billion issued through a private placement have been listed on the Nigerian Exchange (NGX) Limited.
A circular issued by the Head of Issuer Regulation Department of the NGX Regulation Limited, Mr Godstime Iwenekhai, disclosed that the equities were admitted for trading at the stock market on Monday.
According to the notice, the additional shares brought for listing to rank pari passu with existing shares of the organisation were 1,021,334,544 units.
These stocks were sold to one of the company’s major shareholders at a unit price of N44.06, amounting to N45.0 billion.
The total issued and fully paid-up shares of First Holdco, as a result of this listing, are now 45,475,027,677 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that an additional 1,021,334,544 ordinary shares of 50 Kobo each of First Holdco Plc were on Monday, June 22, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s private placement of 1,021,334,544 ordinary shares of 50 Kobo each at N44.06 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of First Holdco Plc have now increased to 45,475,027,677 ordinary shares of 50 Kobo each from 44,453,693,133 ordinary shares of 50 Kobo each,” the disclosure stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved fresh import licences for petrol and diesel for the third quarter of 2026 (July – September) to prevent potential supply shortages in the domestic market.
According to a report by global energy intelligence firm, Argus Media, the latest approvals were issued to major downstream operators amid declining fuel stock levels and concerns over reduced petrol production at the 700,000 barrels per day Dangote Petroleum Refinery in Lagos.
The move comes as Nigeria continues to balance increasing local refining capacity with the need to guarantee adequate supplies of petroleum products across the country.
According to the Argus report, domestic firms, including AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy and Pinnacle Oil, received permits to import Premium Motor Spirit, popularly known as petrol, during the July-September period.
The publication further reported that the same companies, with the exception of Nipco, were granted approvals to import Automotive Gas Oil, commonly known as diesel. The fresh approvals follow an earlier batch of petrol import permits issued by the regulator in May, covering about 720,000 metric tonnes.
Quoting a regulatory source, Argus noted that many of the companies granted the latest approvals were among those that had received permits in previous rounds. “These are some of the same ones that previously received the PMS permits,” the source was quoted as saying.
It was also claimed that AA Rano and Matrix Energy each received approvals to import 180,000 metric tonnes of petrol. AYM Shafa received approval for 120,000 metric tonnes, while Pinnacle Oil received a permit covering 150,000 metric tonnes.
For diesel imports, Argus reported that AYM Shafa obtained a permit for 60,000 metric tonnes, while Pinnacle secured approval for 45,000 metric tonnes. The report stated that the import approvals were issued only recently, after being delayed from an initial target date of June 15.
By Adedapo Adesanya
Three securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.01 per cent on Tuesday, June 23, dragging the market capitalisation down by N25.91 billion to N2.544 trillion from Monday’s N2.570 trillion. Also, the NASD Security Index (NSI) decreased by 43.17 points to 4,239.34 points from 4,282.51 points.
The triplet price losers were Central Securities Clearing System (CSCS) Plc, which gave up N4.82 to trade at N75.00 per unit versus Monday’s closing price of N79.82 per unit. NASD Plc depreciated by N3.70 to close at N33.30 per share compared with the preceding day’s N37.00 per share, and Nitrox Industrial Gases Plc marginally lost 1 Kobo to sell at N21.41 per unit, in contrast to the previous session’s N21.42 per unit.
Tuesday’s trading data showed that the volume of securities traded by investors retreated by 35.9 per cent to 211,671 units from 330,034 units, and the value of securities fell by 82.9 per cent to N5.6 million from N32.7 million, while the number of deals doubled to 38 deals from 19 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 68.1 million units transacted for N4.7 billion.
GNI Plc also closed the trading day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
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