By NIyi jacobs
The Commissioner for Insurance and Chief Executive of the National Insurance Commission, Mr. Olusegun Ayo Omosehin, paid a courtesy visit to the Honorable Minister of Aviation and Aerospace Development, Mr. Festus Keyamo SAN, on Wednesday, September 4, 2024, in Abuja. The visit aimed to discuss the development of the insurance industry in Nigeria, particularly in the aviation sector.
During the meeting, the Commissioner highlighted the Commission’s core functions, including regulating, supervising, and developing the insurance industry, as well as acting as an adviser to the Federal Government on insurance-related matters. He also briefed the Minister on aviation insurance and reinsurance arrangements, emphasizing local content provisions, risk sharing, and the need to develop local capacity and expertise.
The Minister welcomed the Commissioner and expressed his delight for the visit, stating that he had been looking forward to discussing critical issues impacting domestic airlines. He suggested convening a stakeholders’ meeting involving the Commission, airline operators, and insurance operators to reach a mutually beneficial agreement.
The Managing Director of the Federal Airport Authority (FAAN), Mrs. Olubunmi Kuku, was also present at the meeting. The Minister and the Commissioner agreed that such interactions are essential in promoting Nigeria’s image and improving relevant laws to attract and retain credible relationships with international stakeholders.
