The federal government and the National Insurance Commission (NAICOM) are now working out modalities that will transform the insurance sector and raise its contribution to the gross domestic product (GDP).
Under the new arrangement, the NAICOM will formulate new policies that will see the insurance industry creating about 100,000 new jobs every year beginning from this year. The target is to provide 300,000 jobs by 2017.
This was disclosed by the Commissioner for Insurance/CEO National Insurance Commission (NAICOM), Fola Daniel in Benin at a capacity building workshop for insurance correspondents.
He said that the federal government recognizes that insurance plays a very vital role in the development of a nation, adding that no viable economy can be created without a robust insurance sector thus its renewed commitment to growing the sub sector.
Daniel explained that the 300,000 job is possible and the commission is introducing policies that would see to its success.
By Yemisi Izuora