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“Retirement in Nigeria” Why I’m Advocating For Senior Citizens -Felix Amadi

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The Chairman of Crown Insurance Brokers, Chief Felix Ohiri Amadi has enjoyed a successful career spanning over three decades in the insurance sector of the economy, having worked closely in chatting lasting solutions towards pension management, he knew exactly what the senior citizens go through after their active service years in accessing their pension benefits, the challenges of retirement age and reasons why people fail to plan for their old age. In his new book, Retirement in Nigeria, Amadi sought to highlight the need to build a robust retirement sector, where professionals would be trained on the intricacies of managing and caring for the aged. He recently engaged the media on why he embarked on the project, “Retirement in Nigeria”, his insurance career, amongst other sundry issues. Enjoy the excerpt

How has it been with Crown Insurance Company during this time of the pandemic?
Crown Insurance Brokers Limited is a company that has been in existence for over three decades. We have had very good times and difficult times such as this season and it has caused us to scale down our operations at the moment in other to cope effectively during this challenging period.

How well has Crown Insurance been able to fair in the insurance sector of Nigeria since its birth?
There is no Federal Government Institution that Crown Insurance hasn’t managed either full or in parts from MPC, MPA, Police, Custom, DSS and much more. We have been part of their management over time and we have also managed some private institutions like Shipping companies, Oil and Gas companies, too numerous to mention. So, Crown Insurance Brokers Limited can be taken as one of the elite insurance companies in Nigeria. Our records are intact and the reference about us can be obtained from the Nigeria Corporation of Registered Insurance Brokers (NCRIB).

With all the successes you’ve enumerated, it shows you’ve done well in the sector; what defines a good insurance company?
Insurance is a major aspect of risk management, whether it affects an individual or organization. Every insurance organization that cannot define the risk of an individual or the organization in a long term may not succeed because risk, if not properly managed to a long term can lead to a major hazard for either the individual or organization involved. Anybody that is managing another person’s risk and fails to define it well cannot have a lasting relationship and if an organization can’t keep a relationship then it will fail when its backups disengage. For the insurance companies that have succeeded, it means they’ve been able to define their client’s risks in a long term and have followed the procedures religiously.

What are the challenges of running an insurance company in Nigeria?
The challenges here aren’t different from the challenges of most other organizations. Economy is looking south and it’s been like this for some time that makes every organization that wants to remain in place to indulge in difficult management. Insurance as an area of endeavor is not considered most of the time as important as health and stomach care, so issues of risk management is put after the Medicare which is basic because people cannot combine them, even when they are aware they need it, the basics comes first. Historically, insurance in Nigeria hasn’t enjoyed deep penetration even with our efforts to create awareness and cause people to accept it.

What is the high point of your career as an insurance broker?
Well, over the years I have managed many public and private accounts and I have managed them veritably, it is difficult for me to single out one as the high point. When I was called by the Federal Ministry of Defense to review Military Pension as it was in serious crises; a lot of destitute were hanging round Ikoyi, claiming they were ex-soldiers who were waiting for their benefits so T. Y. Damjuma and Mrs. Delaja felt there was need to look critically into the reason the soldiers who claimed to be retirees were not being paid. That was where I was called to improve the management of retired soldiers in Nigeria. In 2015, Crown instituted what may have become the biggest Group Life Insurance Scheme other than the Omnibus scheme that is managed by the Head of Service in the Department of Security Services (DSS). That scheme has the signature Crown Insurance and it is one of the finest insurance schemes running now in the country. There are much more achievements to count regarding my high points in service.

If you weren’t an insurance broker what other business or career would you have ventured into?
I would have loved to retire as a professor; I would have functioned well as an intellectual. When I graduated from the University of Lagos, Akoka at the age of 23 the University enlisted me for post graduate studies in Colombian University, somehow I preferred going to work in other to support my younger ones, that was how I diverted my career in the world of academics. Before I decided to quite my dreams, I had calculated that at the age of 27 I would’ve gained my PH.D and if I kept working hard as I did at that time, I foresaw myself as a Professor at the age of 35/36 but all that didn’t happen because I diverted from it.

Some time ago you had a stint in politics, what was your intention when you delve into it then and currently are you still nursing political ambitions?
My sojourn in politics is still work in progress. When you see some people in the corridor of power in Nigeria, you’ll feel that they don’t have the indebt of love that is required from the leaders in a nation. Unlike some serious minded professionals that have attempted politics who go there to assist because they’ve seen some loopholes they think they can fill-in in order to move the country to a better place that was the motive that made me become a politician. I joined a political party, I was an active member of the party and secured a ticket to run for the senatorial seat of Imo East where I come from; I didn’t win but everybody says I made a very huge impact. You know that once you attempt a political position in Nigeria you are likely to sacrifice a lot of your personal savings so it’s not that I have quit politics but I am waiting to see my like minds come together to form a critical movement so that the country can be safe. If you are a reasonable human being in Nigerian politics and you have to go against fifty rascals out there, you cannot maneuver them; they’ll deal with you and make you seem useless. Our prayer is that more mature minds, more professionals and more of the ones that has the good of the country at heart should come up and work together to make this country a better place.

As 2023 approaches, do you have any intention of coming out for an elective position and are you one of the people clamoring for Igbo presidency?
I have no such plans now and it is too early for one to come out and start telling what will happen in three years’ time. Instead of clamoring for either Igbo, Hausa or Yoruba president pray that only a person suitable for the position will come and let’s advice those in government starting from the local government that politics isn’t about getting rich in government and gaining firm and power. Let them understand that politics is about governing the people with good will. All the people that think about how to win the next elections at all costs are the traditional politicians who have nothing to offer and I am not one of them.

Talking about groups like minds and professionals, few months ago, Pat Utomi, Olisa Agbakoba and others came together to form a coalition for 2023, what’s your take about such moves and would you embrace their idea?
Of course their ideas are good, more people should join them. They aren’t forming a political party; they are uniting to realize what’s in the best interest of the people, people like them are good people. Anybody who has intention in just willing and dealing is making a mistake because at the end of the day there might not be a country for them to continue to deal if they don’t protect the one at stake now.

Generally speaking Sir, what’s your assessment of the Nigerian political space?
A lot of improvement is needed. There are good people but I would say that they are in the minority, the job is to bring more people that are ready to save Nigeria and impact the people in a way that will benefit the country’s future; people have to forget about the old ways of becoming a billionaire without lifting a finger. Let them bring in people that will make impact in a way that the future generation will look back and say “but for this people”, that’s the way forward.

You’ve done well with your new book, Retirement in Nigeria; can you talk about it?
Retirement is one of those areas that are still lagging behind particularly from the point of view of those that are retired and aged. You don’t need to stretch your neck to have a view of those who are suffering because they have not received their retirement funds from either the state or local government. So there is need for our government to champion the cause of these suffering senior citizens, they say little or nothing about it and it’s bad. I embarked on retirement management research for the reason of the suffering retirees; the same thing I realized when I was called to manage the military retirement. If you go through the whole of Nigeria you’ll see that there is no solid literature that can be used as reference or capacity building in terms of retirement so I decided to write about it.
No one talks about retirement till death and for one to be able to manage retirement in order for old people not to suffer it has to be well planned; between retirement planning and retirement management the time has come for further research for people both in the higher institutions and professional institutions to be trained for proper clarification so that when they are confronted by retirees or workers either as consultant or employees of Retirement Management organization, they would be adequately prepared.
Federal Government has done well through the Obasanjo regime that saw the decay in pension management and they put together in a reform act in 2004, now successive governments have been managing pensions based on the reform principles yet no refunds are needed, the states and local governments have to look into the affairs of pensioners in their areas. What affects a part of the country affects everywhere so they have to begin to take issues that concerns pensions seriously.
I do not want to review my book, let others do it for me but it covers a lot. The Retirement Management Industry has come, research is seriously needed in this area; we have Pediatricians everywhere who take care of babies but a lot of old people need care, they need a special hospital not General Hospital.
Look carefully, you’ll discover that the traditional system of children taking care of their parents has collapsed. The reason is the world is now a global village and your child can decide to go and live in another country; while you as the parent is here in Nigeria. All the child can do is send money to you and money can’t take care of an old parent but if there is a professional who has passion and ethics governed by the profession will take care of you and get paid.
An aged person doesn’t need money but care, but such things are lacking in this country and it’s in this book I’ve written. If you look around the entire world, countries that have the size and economic capacity of Nigeria all have elderly people whether they have worked or not, they collect a certain amount of money for their care but we don’t have that here and advocacy is needed. We don’t have so many elderly people in Nigeria who live beyond 70 and 80 years because of suffering, let this people live and be happy; let them not die cursing the government and the system. This book will help those that are making laws on social securities to begin to re-examine current positions to make amends where necessary so that those who will be managing pensions will manage better and those who will receive pensions will be happy and be thankful to the government.

What challenges did you face in putting up this massive volume of write-up “Retirement in Nigeria”?
Writing a book first of all needs a clear motivation. It is the motivation that guides and being that I’ve encountered a lot of retired people both as a consultant and individually, I know a lot of what they go through. Once you have motivation and you decide to do a thing out of your busy schedule you’ll create your time for passion because it is what you want to do properly not because of money but for impact and education; though it cost me time and money but for the sake that I wanted to do it and here it is ready to be presented to the world.

How soon should we expect the book on the shelves?
We delayed the public presentation because of the Covid-19 challenges but now we know that social distancing is the new order for safety so we’ll soon with safety measures adequately put in place present it to the general public.

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SWITZERLAND PLEDGES SUPPORT FOR NIGERIA’S BID FOR IMO CATEGORY ‘C’ SEAT, Says Oyetola

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Nigeria’s quest to secure a Category ‘C’ seat on the International Maritime Organization (IMO) Council for the 2026/2027 biennium received a major boost today as the Government of Switzerland formally pledged its support.

The Honourable Minister of Marine and Blue Economy, H.E. Adegboyega Oyetola, CON, received the letter of endorsement during a courtesy visit by the Swiss Ambassador to Nigeria, H.E. Patrick Felix Egloff, at the Ministry’s headquarters in Abuja.

Expressing his delight, Oyetola described the Swiss government’s backing as “a significant milestone in Nigeria’s campaign and a strong testament to the Federal Government’s commitment to upholding international maritime standards.”

According to the Minister, Nigeria’s election into the IMO Council would further strengthen global efforts towards building “a more robust, safe, and sustainable maritime industry.”

Highlighting Nigeria’s maritime potential, Oyetola disclosed that the country boasts 200 nautical miles of Exclusive Economic Zone and an extended continental shelf of 16,300km, positioning it as a strategic maritime nation.

“With these vast endowments, Nigeria, by any standard, is a maritime nation. That’s why the Ministry, in collaboration with the World Bank, AU-IBAR, the Kingdom of Norway, and other stakeholders, has developed a comprehensive National Policy on Marine and Blue Economy capable of standing the test of time,” he stated.

Oyetola further revealed that the Federal Government is adopting a Public-Private Partnership (PPP) model to drive rapid investments in the maritime sector. These include inland waterways development, supply of boats, dredging, and navigation infrastructure.

On maritime security, the Minister emphasized the success of the Deep Blue Project, Nigeria’s state-of-the-art surveillance initiative:

“For the past three years, there has been zero piracy in our waters, and we’re committed to sustaining this achievement. We’re also working with other Gulf of Guinea countries to extend safety and security beyond our national waters.”

In his remarks, Ambassador Egloff noted that Switzerland’s decision to endorse Nigeria followed an earlier request from the Ministry in April 2025.

“I’m very glad to convey this letter of support. Switzerland is very happy to stand with Nigeria. You’re a strong candidate, and we appreciate your commitment to multilateralism and the maritime sector. Nigeria plays a very important role globally,” he affirmed.

With Switzerland’s endorsement, Nigeria’s campaign for the IMO Category ‘C’ Council seat gains further international momentum ahead of the elections slated for October/November 2025.

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Update : JUST IN: Tinubu returns after Japan, Brazil trips

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President Bola Ahmed Tinubu returned to Abuja around 1:20am on Thursday after concluding a three-day state visit to Brazil that yielded a raft of bilateral agreements and high-level engagements aimed at deepening Nigeria’s economic and diplomatic ties with South America’s largest economy.

The President, who arrived aboard the presidential jet, was received at the Presidential Wing of the Nnamdi Azikiwe International Airport by a high-powered delegation of political leaders and senior government officials.

Among those present were Governors Caleb Mutfwang (Plateau); Uba Sani (Kaduna); Hope Uzodinma (Imo) and AbdulRahman AbdulRazaq (Kwara).

Also on hand to welcome the President were Speaker of the House of Representatives, Tajudeen Abbas; Deputy Senate President, Barau Jibrin; Chief of Staff to the President, Femi Gbajabiamila; National Security Adviser, Nuhu Ribadu; and some Ministers, including Nyesom Wike (FCT); Abubakar Atiku Bagudu (Budget and Economic Planning) and Bello Matawalle (Defence, State).

President Tinubu’s visit to Brazil was marked by the signing of five Memoranda of Understanding (MoUs) covering aviation, trade, science, diplomacy, and finance.

At a joint press conference in Brasília, he welcomed the imminent return of Petrobras, Brazil’s state-owned oil giant, to Nigeria—five years after it halted its joint ventures.

“We have the largest gas repository. So I don’t see why Petrobras doesn’t join as a partner in Nigeria as soon as possible. I appreciate President Lula’s promise that this will be done,” he said.

The agreements also included a Bilateral Air Services Agreement, paving the way for direct flights between Lagos and São Paulo, to be operated by Air Peace.

Other MoUs targeted political consultations, scientific collaboration, and agricultural financing through Nigeria’s Bank of Agriculture and Brazil’s National Bank for Economic and Social Development.

Beyond the MoUs, President Tinubu underscored his administration’s economic reforms, assuring Brazilian investors of a stable, transparent financial climate.

He cited Nigeria’s capital market growth as evidence of renewed investor confidence and pledged continued reforms to “unlock capital, protect investors, and drive innovation.”

In a meeting with Nigerians in Brazil, Tinubu called on the diaspora to contribute actively to nation-building, pledging technology-driven development and food security as the pillars of a prosperous future.

“We must bring Nigeria to the forefront of Africa’s progress, driven by technology, food sovereignty, and the courage to change our destiny,” he told the gathering.

The visit, which featured red-carpet honours, bilateral meetings with President Luiz Inácio Lula da Silva, and cultural engagements, signalled what both leaders described as a new era in Nigeria–Brazil relations.

Tinubu’s state visit to Brazil was preceded by his participation at the recently concluded ninth edition of the Tokyo International Conference on African Development (TICAD9).

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Symbolic gestures to tangible cooperation, Air Peace clearance, Oil giant Petrobras return is key gain of Tinubu’s Brazil visit, Says Onanuga

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……Air Peace clearance for Lagos-Sao Paulo direct flights excites President

The return of Brazil’s oil giant, Petrobras, to Nigeria’s upstream is a major breakthrough recorded by President Bola Ahmed Tinubu’s two-day state visit to the largest economy in South America, Minister of Information and National Orientation Mohammed Idris said yesterday.

Besides, Nigeria’s largest airline, Air Peace, was given the right to commence Lagos-Sao Paulo flights to underscore the renewed economic and cultural ties between the two countries.

Sao Paulo is Brazil’s economic powerhouse and largest city.

Air Peace Chief Executive Officer, Allen Onyema, said the airline would deploy a Boeing 777 from its fleet to service the route.

A symbolic flight was planned for last night.

These agreements are part of the Memoranda of Understanding (MoUs) signed by the two countries during the President’s third visit to Brazil in less than one year.

His two earlier visits were on invitations extended to Nigeria by G-20 and BRICS.

“Air Peace is now cleared to run flights between Lagos and Sao Paulo”, Brazilian President, Luiz Inácio Lula da Silva, declared to the excitement of President Tinubu at a joint news conference at the Palácio do Planalto in Brasília to round off the visit.

According to Presidential spokesman, Bayo Onanuga, President Tinubu said the resumption of Petrobras’ operations five years after it halted joint ventures in Nigeria, would reignite economic cooperation in the energy sector.

“We have the largest gas repository. So, I don’t see why Petrobras doesn’t join as a partner in Nigeria as soon as possible. I appreciate President Lula’s promise that this will be done as soon as possible,” Tinubu said.

The President praised his Brazilian counterpart for committing to revitalising the partnership between the two nations.

“Nigeria’s economic space remains a virgin land, full of opportunities for Brazilian companies,” Tinubu said, while acknowledging Embraer’s role in boosting local airline operations through plans for a service centre in Nigeria to support maintenance and repairs.

Reflecting on his past engagements in Brazil, Tinubu urged a shift from symbolic gestures to tangible cooperation.

“Honourable Ministers of both countries, members of the Brazil Business Group, I have listened carefully to my friend, President Lula. We had a lengthy discussion. We talked about history and about African and Brazilian heritage.

“We tried to see why we are not at the level we wanted. We have allowed some problems and activities in the past to deter us from making progress and fulfilling our promises. But today, we say that is the end of that,” he said.

Tinubu stressed Nigeria’s readiness to partner Brazil in technology transfer, food security, renewable energy, and manufacturing.

“Today, we are fighting and working hard to bring our sovereignty to the level of expectation that we, as a nation, the most populous, the most dynamic country, share with Brazil. We need to share—technology transfer, energy, economy — so Brazil can continue to widen opportunities for us to embrace Africa. Africa is the new frontier,” he said.

The President also called for knowledge sharing in pharmaceuticals, saying “we have elevated this promise to the path of reality, as you have seen in various MOUs. I don’t know why the manufacturing of generic drugs, which Brazil has done deeply and far, cannot be in Nigeria.

“I don’t see why the technological superiority of Brazil is not shared with Africa. We assured each other that only we can develop our economies to help our sovereignty”, President Tinubu said.

Highlighting the reforms at home, Tinubu assured Brazilian investors of a new era in Nigeria’s economy.

“The reforms I’ve embarked upon since I took over in Nigeria have been very impactful. It was initially painful, but today the result is blossoming. It’s getting clearer to the people. We have more money for the economy, and there will be no more corruption.

“We have the governor of the Central Bank of Nigeria here. You don’t have to know him before getting the foreign exchange you need. The speculators are out. In our currency market, the door is open for businesses,” he said.

President Lula described the renewed Brazil–Nigeria engagement as timely in an era of rising protectionism.

“At a time when protectionism and unilateralism have returned, Nigeria and Brazil reaffirm their bet on free trade and productive integration. We continue to be dedicated to building a world of peace, free from hegemonic impositions.

“There are many possibilities for synergy between the world’s two largest countries with black populations. Agriculture and livestock, oil and gas, fertilisers, aircraft, and machinery, among others, represent wide avenues for cooperation.

“Increasing direct connections between Nigeria and Brazil is another essential step to strengthen the ties between our societies. We have approved the launch of a direct flight, to be operated by Nigeria’s largest airline company, Air Peace, between Lagos and São Paulo,” he said.

The following MoUs were signed between the two countries:

*Bilateral Air Services Agreement by Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, and Brazil’s Minister of Ports and Airports, Silvio Costa Filhos.

*Diplomatic Training Cooperation and MoU on political consultations were signed by Minister of State for Foreign Affairs of Nigeria, Ambassador Bianca Odumegwu-Ojukwu, and her Brazilian counterpart, Ambassador Mauro Vieira.

Nnaji, and Brazil’s Luciana Santos.

*The Managing Director of Nigeria’s Bank of Agriculture, Ayo Sotinrin, and Brazil’s Minister for National Bank for Economic and Social Development (BNDES), Aluísio Mercadante, signed an MOU for cooperation on trade and investment promotion, harmonising efforts to expand agricultural financing, investment, and joint projects.

Nigeria is currently Brazil’s 49th largest export destination, with trade between both countries reaching $2.1 billion in 2024.

Following the agreements, President Tinubu attended a state luncheon, hosted at the Itamaraty Palace.

Mohammed Idris: BASA to deepen ties

Minister of Information and National Orientation, Mohammed Idris, described the Bilateral Air Services Agreement (BASA) signed between Nigeria and Brazil as a significant breakthrough that will reconnect the two countries economically, socially, and culturally.

He described BASA as representing more than aviation.

“The 350 years of slavery between Africa and Brazil is being looked at again by the two leaders. And one way of looking at it is to ensure there is now a reconnection – economic, financial, social, cultural, whichever sphere. I think this is the best way to really go past what has happened during the period of slavery,” the minister said.

He noted that President Tinubu’s fourth meeting with President Lula in just over a year underscored the growing partnership between the two nations, which he said would also benefit Africa.

The minister said immediate “quick wins” from the agreement were already being realised, with a symbolic flight planned from Brazil to Abuja at midnight on Tuesday.

He noted that the direct link would reduce travel time between the two countries from more than 24 hours through European routes to about seven hours.

“Once this becomes commercially viable, it will not just enhance trade between the two countries, it will also improve the cultural and social cooperation that already exists,” he added.

Onyema, who described the BASA agreement as “a milestone,” said: “We cannot start daily flights for now, but we want to start with three weekly flights. As we go on, we develop the route and we’re going to increase the frequency. We told the Brazilians that we want to do Lagos, Rio, São Paulo and back to Lagos”.

The Air Peace chief emphasised that aviation would serve as a catalyst for unlocking the economic potential of both nations.

“The Brazilian economy is the largest in Latin America. The Nigerian economy is one of the largest in Africa. They need to tap into this. But without aviation, it’s very, very difficult for some of these things to be actualised,” Onyema said.

Boeing 777 for route

Speaking in an interview, Onyema said: “Nigerian aviation is grateful to President Tinubu for all he has been doing for the industry.

Air Peace has had long relation with Brazil as the biggest customer to Brazillian airplane maker, Embraer.

Air Peace signed a firm order for 13 Embraer E195-E2 jets in 2019, with the delivery of the first aircraft in early 2021. This was part of a larger agreement that included purchase rights for 17 additional aircraft of the same type, bringing the total potential order to 30 jets. The airline is the first African carrier to operate this new generation of Embraer aircraft.

Besides buying aeroplanes, Air Peace is fine-tuning strategies for the setting up of an aircraft maintenance facility in Nigeria.

Embraer, a few years ago, unveiled plans to establish an MRO (Maintenance, Repair, and Overhaul) facility in Nigeria, in partnership with Air Peace. This initiative is part of a broader maintenance deal with the Nigerian airline to provide local maintenance support for its growing fleet of Embraer aircraft, aiming to conserve foreign exchange for airlines and create jobs in Nigeria.

As one of Nigeria’s biggest flag carriers , Air Peace is designated on Lagos/ London, Dubai, Johannesburg, Tel Aviv, China, Mumbai, Antigua and Barbuda,

Air Peace serves 20 major cities in Nigeria and many regional destinations throughout West Africa (Accra, Dakar, Douala Freetown, Banjul, and Monrovia.

Petróleo Brasileiro S.A., better known by and trading as the portmanteau Petrobras, is a Brazilian majority state-owned multinational corporation in the petroleum industry headquartered in Rio de Janeiro. The company’s name translates to Brazilian Petroleum Corporation — Petrobras.

Petrobras began operations in Nigeria in 1998 in the deep waters off the Niger Delta. It sold its stakes more than 10 years ago to raise cash for domestic projects. Since then, Nigeria has been working to address some of the problems that have limited oil and gas output.

Petrobras stopped business in Nigeria five years ago.

The company was ranked #71 in the 2023 Fortune Global 500 list. In the 2023 Forbes Global 2000, Petrobras was ranked as the 58th-largest public company in the world.

Petrobras was created in 1953 under the government of Brazilian president Getúlio Vargas with the slogan “The Oil is Ours”. It was given a legal monopoly in Brazil.

In 2000, Petrobras set a world record for oil exploration in deep waters, reaching a depth of 1,877 metres (6,158 ft) below sea level. In 2002, Petrobras acquired the Argentine company Perez Companc Energía (PECOM Energía S.A.) from the Perez Companc Family Group and its family foundation for $1.18 billion.

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