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Commissioner Omosehin Charts a New Course for Nigeria's Insurance Industry
March 11, 2026 - In Goverment‚ News By NAICOM Comment off

Unlocking Nigeria’s Insurance Potential: NIIRA 2025, Transparency and the Road to a Trillion Dollar Economy

The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, has called on stakeholders in the insurance industry to collaborate and drive transformation. Speaking at the Insurance Sector Transformation Consultative Forum 2026 earlier today in Lagos. Omosehin emphasized that concrete actions, not just words, are needed to achieve growth and resilience in the sector.

He highlighted the importance of implementing the National Insurance Industry Reformed Act (NIIRA 2025) with transparency to unlock the industry’s potential. According to him, transparency in claims and solvencies is key to achieving absolute growth in the insurance industry.

Omosehin also commended Enterprise Nigeria for leading the advocacy and thanked the organizers of the forum. He advised financial bodies and groups to join the collaborative platform to support Nigeria’s economic growth, including the goal of reaching a one trillion dollar economy, as targeted by President Bola Ahmed Tinubu.

Previous NAICOM and BPP Seal MoU to Deepen Insurance Compliance in Public Procurement and Drive Nigeria’s Economic Transformation

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