Insurance seen as key to Nigeria’s sustainable development
Ekeoma Ezeibe, President of the Nigerian Council of Registered Insurance Brokers, has highlighted the vital role of insurance in driving sustainable economic growth in Nigeria. During a courtesy visit to Alex Otti, the Abia State Governor, she emphasized that effective risk management is essential for infrastructure development and commercial revival. Ezeibe described insurance as crucial for business continuity, protection of assets, and strengthening trust between government and citizens. She also outlined plans to expand insurance access to small businesses and traders.
What we know
- Ekeoma Ezeibe stressed that insurance supports private sector growth, tax compliance, and economic stability.
- She referenced the Nigerian Insurance Industry Reform Act 2025, which expanded compulsory insurance coverage across the country.
- The council plans to set up an insurance brokerage marketplace in Aba to provide micro-insurance for traders and small businesses.
- Alex Otti praised the NCRIB’s efforts and pledged the Abia State Government’s support for strengthening the insurance sector.
- The governor assigned key advisers to collaborate with the NCRIB to finalize the initiative’s details.
