Home Business Insurance World NAICOM, RMAFC To Explore Opportunities To Advance Diversification Of Nigerian Economy
Insurance World

NAICOM, RMAFC To Explore Opportunities To Advance Diversification Of Nigerian Economy

Share
Share

From Left: Engr. Mohammed Sani Baba (RMAFC Commissioner Rep Bauchi State); Commissioner for Insurance/CEO Mr. Olusegun Ayo Omosehin and Alh. Abubakar Sadiq A. Gusau (RMAFC Commissioner Rep Zamfara State)

The Commissioner for Insurance/CEO, Mr. Olusegun Ayo Omosehin, and his management team welcomed the members of the Constitutional Committee on “Mobilisation and Diversification” of the Revenue Mobilisation Allocation and Fiscal Commission, led by Engr. Sani Mohammed Baba, during their working visit to the Commission recently.

The primary agenda was to explore collaborative opportunities to advance the diversification of the Nigerian economy.

Mr. Olusegun Ayo Omosehin, in his opening remarks, reaffirmed the critical role of the insurance sector regulator in supervising, regulating, and safeguarding the interests of insurance policyholders.

He highlighted insurance’s pivotal role in mobilising savings for long-term developmental projects and enabling businesses to thrive while managing risks effectively.

He also stressed the Commission’s commitment to ensuring insurance companies meet their obligations, thus contributing to the sustainability of the economy.

The Commissioner for Insurance also acknowledged President Bola Ahmed Tinubu GCFR’s ambitious goal of growing the Nigerian economy to One Trillion United States Dollars ($1 trillion) by 2026.

He expressed the insurance sector’s intent to significantly contribute to this objective. Additionally, he mentioned ongoing efforts to embed insurance within the National Credit Scheme to ensure its sustainability.

In closing, Mr. Omosehin highlighted the need for continuous advocacy and sensitization of government institutions about the vital role of insurance in national economic development.

Engr. Sani Mohammed Baba emphasised the importance of revenue generation, institutional expansion, and employment creation for Nigerians through collaborative efforts.

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

Children’s Day: Alliance and General Insurance Hosts De Great Renovators School To Educational Excursion

In celebration of Children’s Day, Alliance and General Insurance Plc hosted students...

Lasaco Assurance Celebrates Children’s Day 2025, Reaffirms Commitment to Youth Empowerment

In celebration of Children’s Day 2025, Lasaco Assurance Plc, through its Corporate...

Follow BusinessTodayNG For Updates, Highlights From 51st African Insurance Organization, (AIO), Conference and Annual General Assembly

The 51st AIO (African Insurance Organization) Conference and Annual General Assembly, ongoing...