The National Insurance Commission (NAICOM) has launched a sweeping national awareness campaign to reframe insurance as a critical tool for Nigeria’s economic survival and future prosperity.
Delivering the keynote address at the opening ceremony of Insurance Week 2025 in Abuja, NAICOM Commissioner for Insurance and CEO, Mr. Olusegun Ayo Omosehin, declared that the time had come for Nigerians to view insurance not as a luxury, but as a life-saving necessity.
“The future of Nigeria depends on how well we manage risk,” Omosehin said. “In a world riddled with uncertainty—economic shocks, natural disasters, health crises—insurance provides the confidence to recover and rebuild.”
Themed “Insurance for All: Securing Nigeria’s Future,” the week-long event marks the first of its kind and is designed to spark a nationwide conversation on the power of insurance. Omosehin described the initiative as both a celebration and a call to action. He urged citizens, businesses, and government agencies to embrace insurance as a foundational pillar of resilience and development.
He noted that NAICOM is spearheading reforms to improve the industry’s impact, including stronger consumer protection, expanded rural access, and modern governance frameworks. In his words, “We are committed to building a strong, inclusive, and globally respected insurance industry.”
Omosehin also emphasized that public education must be at the heart of the industry’s growth. He stressed the need to develop insurance products that meet the diverse needs of Nigerians across urban and rural divides, while ensuring that claims are handled swiftly and transparently to rebuild public trust.
Digital innovation and local talent development, he added, would also play a central role in making insurance accessible, reliable, and attractive to the population.
The Commissioner used the opportunity to commend the Chartered Insurance Institute of Nigeria (CIIN) for organizing the historic event. He paid special tribute to Mrs. Yetunde Olubunmi Ilori, the 52nd President of the Institute, for her “visionary leadership and unwavering commitment” to advancing the industry.
According to Omosehin, Nigeria can no longer afford to ignore the importance of insurance in national planning. He described a future where insurance becomes embedded in daily life—protecting livelihoods, fostering business growth, and shielding the country’s economic gains.
As Insurance Week 2025 gains traction across cities including Lagos, Kano, Port Harcourt and Abuja, NAICOM is encouraging all stakeholders—from policyholders to brokers, agents, media and educators—to play a role in spreading insurance literacy.
“This is a shared responsibility,” Omosehin said. “We must take this message into classrooms, marketplaces, churches, mosques, and media platforms. Insurance is not just a contract—it’s protection, it’s peace of mind, and it’s progress.”
The message is clear: for Nigeria to secure its future, insurance must move from the margins to the mainstream.
