NAICOM and NESG to Partner on Insurance Sector Growth
By Patience Ikpeme
The National Insurance Commission (NAICOM) has called for a stronger partnership with the Nigerian Economic Summit Group (NESG) to propel the insurance sector forward.
This call was made by the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, during a meeting with an NESG delegation in Abuja on Tuesday.
The meeting provided an opportunity for the Commissioner to brief the NESG team on key developments within the insurance industry.
A major point of discussion was the recent passage of the Nigeria Insurance Industry Reform Act (NIIRA) 2025.
This new law brings together outdated regulations and introduces significant changes to the sector. Mr. Omosehin noted the critical role the insurance sector plays in Nigeria’s overall economic expansion and development.
He also spoke about the need to increase public knowledge about the industry’s important contribution to economic growth.
The head of NAICOM proposed several collaborative initiatives with the NESG, including data sharing, working together to expand financial inclusion, and creating a dedicated insurance working group within the NESG.
Both organizations have agreed to continue their joint efforts to transform Nigeria’s insurance landscape and create economic opportunities for citizens. Mr. Omosehin expressed his pleasure at the meeting, noting that this level of collaboration between NAICOM and the NESG was long overdue.
The Commission remains committed to protecting insurance consumers, ensuring transparency, and providing efficient insurance services that support Nigeria’s economic growth.
