WorldStage Newsonline– The National Insurance Commission (NAICOM) and the Ministry of Youth Development has signed a Memorandum of Understanding (MoU) aimed at training One Million Nigerian youths in the insurance sector.
The initiative, undertaken in collaboration with the Chartered Insurance Institute of Nigeria (CIIN), is part of a broader effort to create job opportunities and empower the country’s youth.
The program, titled “One Million Youths in Insurance,” aligns with President Bola Ahmed Tinubu’s job creation and youth empowerment agenda. The initiative seeks to provide Nigerian youths with the necessary knowledge and best practices in the insurance field.
Its objectives include increasing youth entrepreneurship through financial protection, expanding employment opportunities across the 774 local government areas, and raising awareness about insurance on social media and other platforms. Furthermore, it aims to boost the insurance industry while advancing Nigeria’s Financial Inclusion mandate, with ripple effects across other sectors.
In his remarks, the Commissioner for Insurance, Mr. Olusegun Omosehin, expressed gratitude to the Minister of State for Youth Development, Comrade Ayodele Olawande, for his unwavering commitment to the project. He commended all stakeholders involved, noting that the initiative is a significant opportunity for Nigerian youth.
During his address, the Minister welcomed the NAICOM delegation and expressed enthusiasm for the partnership.
He highlighted the ministry’s recent collaboration with the Nigerian Data Protection Commission (NDPC) to train youth in data protection and privacy, underscoring the government’s dedication to equipping the next generation with relevant skills.
Olawande emphasized that the future of Nigeria lies with its youth, who make up over 60% of the population. He noted that insurance, a critical component of a thriving economy, remains underutilized in Nigeria.
Through this partnership, Nigerian youths will gain a deeper understanding of the importance of insurance, fostering entrepreneurship and creating employment opportunities nationwide.
The event concluded with the formal signing of the MoU by the Minister of State for Youth Development, the Commissioner for Insurance, and representatives of the Chartered Insurance Institute of Nigeria.
