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The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, has emphasised that Nigeria’s future depends significantly on its ability to effectively manage uncertainties—highlighting insurance as a critical tool in this effort.
Speaking at the opening ceremony of the maiden edition of the Insurance Week organised by the Chartered Insurance Institute of Nigeria (CIIN) in Lagos, Omosehin said that as the country navigates economic, environmental, and social challenges, insurance must be seen as a national priority.
“The future of Nigeria depends on how well we manage risk,” he said. “Every decision—by individuals, businesses, or government—carries uncertainty. Insurance provides the framework to mitigate these uncertainties and safeguard our collective future.”
He noted that NAICOM remains committed to fostering a resilient and inclusive insurance sector through ongoing reforms that promote consumer protection, capital adequacy, digital innovation, and greater access across underserved communities.
However, he added that the Commission cannot achieve these goals in isolation.
“We need the full collaboration of stakeholders—insurers, brokers, agents, and professionals—to uphold the highest standards of ethics, service delivery, and professionalism,” Omosehin said.
The Commissioner stressed the need for deeper public education on the benefits of insurance, the development of tailored products for diverse market segments, efficient claims processing, and strategic investments in human capital and technology.
Highlighting the theme of the event, “Insurance for All: Securing Nigeria’s Future”, Omosehin pointed out the critical role insurance plays in mitigating shocks from economic downturns, natural disasters, and health crises.
“Insurance is our shield,” he noted. “It enables individuals, businesses, and governments to manage risks, recover from losses, and build resilience. Without it, our economy becomes more fragile and our people more vulnerable.”
Omosehin praised CIIN for hosting the inaugural Insurance Week and described it as more than just a ceremonial occasion.
“This week is not just a celebration—it’s a national call to action. We must spark a sustained conversation about the importance of insurance. From Lagos to Abuja, Port Harcourt to Kano, we are seeing a growing momentum that must be harnessed,” he said.
He also commended CIIN President, Mrs. Yetunde Olubunmi Ilori, for her leadership in championing insurance awareness and spearheading the 2025 edition of the Insurance Week.
As part of the opening activities, insurance professionals staged a public awareness walk through the streets of Lagos on Saturday to kick off the event.
Speaking during the walk, CIIN President Ilori said the initiative was aimed at demystifying insurance and building public trust.
“This awareness walk is not just a tradition—it is a movement. We are committed to fostering professionalism, driving education, and inspiring the next generation. This is the beginning of a powerful national conversation,” she said.
The 2025 Insurance Week continues with a series of events focused on education, policy advocacy, and public engagement across Nigeria.
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