Abia governor endorses initiative to broaden insurance coverage

Abia State Governor, Alex Otti, has praised the Nigerian Council of Registered Insurance Brokers for its efforts to raise public awareness and deepen insurance adoption across the country.

The governor gave the commendation on Monday while receiving a delegation from the Nigerian insurance industry, led by the Council’s President, Mrs. Ekeoma Ezeibe, at his office.

Otti highlighted the essential role of insurance in shielding individuals, businesses, and investments from unforeseen risks and expressed appreciation for the industry’s decision to directly engage with the public. He noted that effective regulation depends on close interaction with the people it is meant to serve and voiced confidence that such engagement would enhance trust in the insurance sector.

The governor pointed out that many residents of Abia are engaged in trade, manufacturing, and various micro, small, and medium-scale enterprises, making insurance a vital safety net for businesses and individuals facing unexpected difficulties. He welcomed the planned rollout of the Insurance Penetration Initiative in the state and promised to encourage broad participation among the people.

Expressing satisfaction with the initiative, Otti stated that insurance offers confidence and reassurance that support will be available when the unexpected occurs. He also lauded the insurance industry’s leadership for their practical approach and commitment to rebuilding public confidence.

The governor reaffirmed his administration’s readiness to work with insurance sector stakeholders and pledged continued support for programmes that promote financial security, economic sustainability, and inclusive growth in Abia.

Earlier, 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. She explained that Abia was deliberately chosen as the pilot state because of Governor Otti’s proven dedication to development and his strong grasp of economic and financial matters.

Ezeibe also praised the administration’s achievements over the past three years, citing improvements in peace and security, extensive road construction, enhanced power supply, and the revival of commercial activities, especially 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 fostering business continuity, financial inclusion, consumer protection, and economic stability. He drew attention to key provisions of the Nigerian Insurance Industry Reform Act 2025, including stronger 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 of NAICOM’s full backing for initiatives aimed at deepening insurance awareness and adoption, describing the NCRIB initiative as a major 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; Senator Darlington Nwokocha; and other senior government officials.