L-R: General Manager, Production, Punch Nigeria Limited, Mr Olayinka Popoola, President of the Chartered Insurance Institute of Nigeria (CIIN), Mrs. Yetunde Ilori; Publisher, Daily Economy, Nike Popoola; Chairman of Prestige Insurance Brokers Limited, Prince (Dr.) Feyisayo Soyewo, MFR; Director, Human Resources & Administration, National Insurance Commission, Mr. Rasaaq Salami; President and Chairman of the Governing Board of the Nigerian Council of Registered Insurance Brokers, Mrs. Ekeoma Ezeibe, FCIB, during Daily Economy’s second anniversary and launch of an insurance book titled “Trends in Nigeria’s Insurance Industry (2005–2025) & Selected Insurance Icons, ” in Lagos on Tuesday
Yemisi Izuora
The Publisher of Daily Economy, Nike Popoola, has launched a new book, Trends in Nigeria’s Insurance Industry (2005–2025) & Selected Insurance Icons’ .
The book was launched in Lagos on Tuesday to mark Daily Economy’s 2nd Anniversary.
Popoola, explained that the idea for the book grew from her years of covering the insurance sector as a journalist.
“Over the past almost two decades, Nigeria’s insurance industry has experienced remarkable transformation. In 2005, it was a sector often characterised by weak public confidence, limited penetration, and a fragile capital base. Fast forward to today, and we see a far more structured, innovative, and forward-looking industry that contributes significantly to Nigeria’s economic growth.” she said.
Oriental News Nigeria reports that trends in Nigeria’s Insurance Industry (2005–2025) & Selected Insurance Icons captures this journey,documents the major reforms, recapitalisation efforts, regulatory restructuring, and consolidation efforts that reshaped the industry.
From the post-2007 recapitalisation that strengthened financial foundations to key policy reforms, the book highlights the defining moments that strengthened policyholder protection and positioned insurance as a relevant sector within Nigeria’s economy.
Beyond policies and reforms, the book recognises that history is shaped by people. It profiles insurance professionals, executives, and industry leaders. icons whose vision, commitment, and leadership have been central to the sector’s transformation.
These individuals navigated challenges, drove innovation, and inspired confidence in an industry that had long struggled with public trust. Their stories remind us that progress is always driven by dedicated people, not just policies.
Innovation also played a pivotal role in shaping the industry’s growth. Over the past 20 years, Nigeria has seen the introduction of microinsurance guidelines that expanded access for retail consumers, the rise of insurtech solutions, and new distribution channels such as web aggregators and USSD platforms.
Initiatives such as the Nigerian Insurance Industry Database (NIID), the Market Development and Restructuring Initiative (MDRI), and the Nigerian Insurance Industry Reform Act (NIIRA 2025) have further strengthened the regulatory and operational framework of the sector.
The book, Popoola said is not only a historical record but also a resource for the future. It provides insights for professionals, policymakers, scholars, students, and anyone seeking a deeper understanding of Nigeria’s insurance landscape. It captures the lessons learned, the successes achieved, and the challenges overcome.
Importantly, it also features photographic documentation of key events over the past twenty years, offering a visual journey through the milestones that have defined our industry.
“As the Publisher of Daily Economy and the author of this book, I am proud to present this work as part of our second-anniversary celebrations. The publication embodies our commitment to deepening financial literacy, documenting institutional memory, and contributing to knowledge within the insurance ecosystem.
In line with this growth journey, Daily Economy has also rebranded its logo during this anniversary period, adopting a more prominent green identity to reflect growth, renewal, and our continued expansion path.,