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The Deputy Commissioner for Insurance, Finance, and Administration, Mr. Ekerete Ola Gam-Ikon, has called on Nigerian Loss Adjusters to seize the opportunities presented by the African Continental Free Trade Area (AfCFTA) to enhance their competitiveness and expand their services across the continent.
Speaking at the Nigerian Insurance Industry AfCFTA Committee Workshop held at Citiheight Hotel, Ikeja, on Thursday, March 20, 2025, Mr. Gam-Ikon emphasized that AfCFTA offers Nigeria’s insurance industry unprecedented opportunities for growth, prosperity, and market expansion. The workshop, organized in collaboration with the Institute of Loss Adjusters of Nigeria (ILAN), aimed at educating stakeholders on “Navigating New Horizons: Opportunities Unleashed by AfCFTA for Insurance Loss Adjusters.”
“The journey to a single, unified market of over 1.3 billion people will require facilitators of business transactions to be prepared. As we expand our services to other African countries, new opportunities will emerge for Loss Adjusters,” Mr. Gam-Ikon said.
He highlighted that as cross-border trade increases, the demand for Loss Adjusters’ services will grow significantly, given their critical role in assessing and managing risks associated with such transactions. To remain relevant, he urged the professionals to enhance their skills and embrace collaboration with international players.
The Deputy Commissioner assured participants of the National Insurance Commission’s commitment to supporting Nigerian Loss Adjusters in the AfCFTA era. However, he stressed that the industry’s relevance will largely depend on their proactive efforts to enhance service delivery and professionalism.
“AfCFTA encourages collaboration among African insurance companies. Through partnerships, Nigerian Loss Adjusters can leverage shared resources, expertise, and technology to improve their competitiveness and service offerings,” he noted.
Mr. Gam-Ikon concluded by urging all stakeholders to actively engage in the workshop’s discussions and translate commitments into actionable outcomes at both national and regional levels.
The workshop marked a significant step in positioning Nigeria’s insurance industry for success within the AfCFTA framework.
