NIA Wants FG To Use Insurance To Protect Public Infrastructures

Yemisi  Izuora
NIA
The Nigeria Insurers Association (NIA) has urged Federal Government to protect huge  investments made on  the nation’s transportation,power,ports terminals and energy sub sectors.

Director General of the  Association Mr. Sunday Thomas, was at Akwa Ibom where he delivered  a lecture titled ‘Sustaining Infrastructural Development and Transformation Initiatives’ of the Nation through insurance at the 25th anniversary celebration of the Anchor Insurance.

At the event he said that billions of dollars are spent every year for improving transportation, power, ports and terminals, and energy capabilities by the federal Government.

He said that the Nigerian insurance industry has a key role to play in contributing to the nation’s economic growth as a risk transfer and management mechanism.

He said that the sector is growth driver for other sectors of the economy and a huge potential for direct and indirect labour employment.

“It is a provider of long-term capital investment needed for infrastructure projects which will help drive a competitive, healthy and robust national economy,” Thomas said.

Meanwhile, Anchor Insurance said it rewarded some individuals who had contributed to the growth of the firm.

A statement from the company said this was part of activities to celebrate its “past chairmen and past chief executives, who were awarded and recognised for their dedication and selfless services they have rendered over the years since the establishment of the company.”

The firm also recognised employees that had served the company for over 10 years and above with award and various gift items.

It said there was an inspection of the company’s building projects in Uyo, which included the upgrading and face-lifting of its existing registered office and the ongoing construction of a multipurpose six floor complex on a 1,500 square-metre piece of land in a commercial high rise location in the state capital.

It said it plans to let out more floors in these buildings to boost its income from investment properties.

The company at occasion gave award and special recognition to the executive governor of Akwa Ibom State, Godswill Akpabio, for his outstanding leadership strides, uncommon transformation culture and dedicated service to Akwa Ibom State and Nigeria in particular.

 

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