Abia State Governor Alex Otti, has commended the Nigerian Council of Registered Insurance Brokers for its efforts to increase public awareness and deepen insurance penetration across Nigeria.
Otti made the commendation while receiving a delegation from the Nigerian insurance industry led by the President of the Nigerian Council of Registered Insurance Brokers, Mrs Ekeoma Ezeibe, in his office on Monday.
The governor acknowledged the critical role of insurance in protecting individuals, businesses, and investments from unforeseen risks and praised the industry’s decision to engage directly with the public.
He noted that effective regulation requires close interaction with the people the regulations are meant for and expressed confidence that such engagement would strengthen trust in the insurance sector.
Otti stated that many Abians are involved in trade, manufacturing, and other micro, small and medium-scale enterprises, making insurance an important safety net for businesses and individuals facing unexpected challenges.
He welcomed the planned launch of the Insurance Penetration Initiative in Abia State and pledged to encourage wider participation among residents.
Expressing satisfaction with the initiative, the governor said insurance provides confidence and reassurance that support will be available when the unexpected happens. He also commended the leadership of the insurance industry for their hands-on approach and efforts to build public confidence.
Otti further reaffirmed his administration’s readiness to collaborate with stakeholders in the insurance sector and pledged continued support for initiatives that promote financial security, economic sustainability, and inclusive growth in Abia state.
Mrs Ezeibe, disclosed that the Council was in Abia State for the 2026 Insurance Chief Executive Officers’ Retreat and the formal launch of the Insurance Penetration Initiative in Abia.
She explained that Abia was deliberately selected as the pilot Study because of governor Otti’s demonstrated commitment to development and his strong understanding of economic and financial issues.
On her part, Ezeibe praised the administration’s achievements over the past three years, citing improvements in peace and security, extensive road infrastructure development, enhanced power supply, and the revitalization of commercial activities, particularly in Aba.
She described Abia as a model for economic growth and sustainable development and formally invited the governor to the retreat and launch event.
Also speaking, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Mr. Olusegun Ayo Omosehin, commended governor Otti’s developmental strides and described Abia as a strategic hub in Nigeria’s industrial and economic landscape.
Omosehin emphasised the importance of insurance in promoting business continuity, financial inclusion, consumer protection, and economic stability.
He highlighted key provisions of the Nigerian Insurance Industry Reform Act 2025, including enhanced consumer protection measures and the establishment of the Insurance Policyholders Protection Fund to safeguard policyholders’ interests.
He assured the governor and the people of Abia State of NAICOM’s full support for initiatives aimed at deepening insurance awareness and adoption, describing the NCRIB initiative as a significant step toward building a more resilient economy.
The meeting was attended by the Secretary to the State Government, Dr Emmanuel Meribole; the Chief of Staff to the Governor, Pastor Caleb Ajagba; Sen. Darlington Nwokocha; and other top government officials.
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