Yemisi Izuora
The National Insurance Commission (NAICOM) has called on insurance industry operators to consider unveiling broader coverage in Aba, the commercial city of the Eastern flank.
According to the Commissioner for Insurance, Olusegun Ayo Omosehin, Aba occupies a proud place in Nigeria’s industrial history as a city long associated with enterprise, craftsmanship and manufacturing excellence.
Speaking at the 2026 CEOs’ Retreat of the Nigerian Council of Registered Insurance Brokers (NCRIB) and the official unveiling of the NCRIB Insurance Awareness and Penetration Initiative in Abia State, Omosehin, said it is fitting that a project designed to deepen insurance awareness, protect businesses and strengthen investor confidence should begin in a State with such a strong legacy of production and commercial energy.
“The significance of this event lies not only in its practical value, but also in the choice of Abia as the pilot State. This initiative is therefore not only timely but also strategic and impactful.” the Commissioner stressed.
According to him, insurance is far more than a financial product; It is protection; It is confidence; It is peace of mind; It provides a structured mechanism through which individuals, families, businesses, and governments can recover from unforeseen events and financial disruptions.
However, Omosehin noted that for insurance to truly serve its purpose, it must first be understood, adding, “People need to know what insurance is, how it works, the types of protection available, and their rights and responsibilities as policyholders. They must also appreciate how insurance safeguards the assets and livelihoods they have worked hard to build over time.”
This is why education, awareness, and public enlightenment are indispensable.
For the people of Abia State, awareness of insurance and the tangible benefits it offers will encourage traders in Aba and the entrepreneurs in Umuahia to protect their shops, goods, and businesses, and their assets.
“It will guide transport operators on the importance of appropriate motor insurance coverage and where to obtain genuine Motor Insurance covers. It will encourage property owners to safeguard their homes and investments. It will also support farmers, artisans, SMEs, professionals, market men and women, and young entrepreneurs by reducing the financial impact of risks such as fire, accidents, theft, illness, and business interruption.”
He said Abia State is widely recognized for its entrepreneurial spirit, resilience, and industrious population.
From Aba to Umuahia and across all local government areas, the people of this State continue to demonstrate remarkable creativity, enterprise, and commitment to economic growth.
Omosehin continued, “In such a dynamic environment, insurance awareness is not optional, it is essential.
“When citizens are well-informed, they make better financial decisions. When businesses are adequately protected, they are more resilient in times of crisis. When families understand insurance, they are better equipped to plan for the future. When risks are effectively managed, investor confidence increases, and the broader economy becomes more stable and sustainable.
This is the value that this initiative brings to Abia State.”
At the National Insurance Commission (NAICOM), our vision is to foster a stronger, more inclusive, and more responsive insurance sector, one that is trusted by the public and aligned with national economic objectives, he said,
The Commission he assured is committed to demystifying insurance by making it accessible, relatable, and understandable to everyday Nigerians.
“Our message is clear: insurance is for everyone. It is not limited to large corporations or government institutions. It is equally relevant to traders, transporters, artisans, farmers, small business owners, professionals, landlords, tenants, students, and families. Truth must be told, the economic engine of any nation is powered by the resilience provided by Insurance and the insurance sector.
“I therefore urge all stakeholders involved in this initiative to ensure that the message of insurance to the people of Abia State is simple, practical, and people centered. Let it reach markets, business clusters, transport unions, professional bodies, educational institutions, religious centers, and communities. Let it be communicated in local languages and in formats that resonate with the people.
“I also commend the NCRIB and its members for their critical role within the insurance value chain. Insurance brokers serve as trusted professional advisers.
This role is particularly vital at a time when increasing insurance literacy and participation is a national priority.
“I am equally pleased to note that this engagement reflects a strong spirit of industry collaboration under the “One Insurance Industry” initiative. The collective efforts of NCRIB and other stakeholders send a clear signal of unity, shared purpose, and commitment to serving the Nigerian people.”
He pointed out that the true success of this initiative will not be measured by today’s ceremony alone, stressing’Rather, it will be assessed by its long-term impact, by the number of people who become more informed, the businesses that adopt better risk management practices, and the extent to which insurance becomes an integral part of everyday life.’
The insurance industry looks forward to building a strong and mutually beneficial partnership with the Government of Abia State and other stakeholders in advancing insurance awareness and inclusion.
On the part of the State Government, he urged for the development of structured collaborations that can drive revenue growth and economic resilience, especially in the areas of mandatory insurance covers, such as motor third-party insurance, insurance coverage for markets and public infrastructures, and the protection of critical assets, insurances by petrol/gas stations, tankers, hospitals, and power stations against operational risks.
Furthermore, opportunities exist for collaboration in state sponsored initiatives such as loan schemes and poverty alleviation programmes, where insurance can serve as a safeguard for business continuity and resource sustainability in the event of disruptions.