WorldStage– The National Insurance Commission (NAICOM) and the Nigerian Economic Summit Group (NESG) have entered into a strategic partnership aimed at transforming Nigeria’s insurance sector and strengthening its role in driving economic growth.
At a courtesy visit to the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, in Abuja, the NESG delegation and NAICOM leadership agreed to collaborate on key initiatives, including data sharing, financial inclusion expansion, and the establishment of an insurance working group within the NESG.
Omosehin who described the collaboration as “long overdue,” said the partnership would play a pivotal role in positioning the insurance sector as a catalyst for Nigeria’s economic development. He highlighted the enactment of the Nigeria Insurance Industry Reform Act (NIIRA) 2025, which consolidates outdated laws and introduces far-reaching reforms designed to strengthen the industry.
He further emphasized the need to increase public awareness of the sector’s contributions to national growth, stressing NAICOM’s commitment to consumer protection, transparency, and efficient service delivery.
Both institutions pledged to sustain their collaboration to deepen reforms, expand insurance penetration, and unlock economic opportunities for Nigerians.
