The National Insurance Commission (NAICOM) and the Nigerian Insurers Association (NIA) are calling for a stronger partnership with insurance and pension editors NAIPE to accelerate the growth of Nigeria’s insurance industry.
Speaking at the investiture of the new executives of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Victoria Island, Lagos, on Thursday, NAICOM urged closer collaboration between NAIPE, industry operators and other stakeholders to drive reforms that will strengthen the insurance sector, boost Nigeria’s economic resilience and expand social security.
The Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Olusegun Omosehin, said sustained partnership between regulators, the media and industry players is vital for deepening insurance penetration, building public confidence and supporting national development.
Omosehin, represented by the Head of NAICOM’s Lagos Office, Dr. Julius Odidi, charged NAIPE members to remain committed to professionalism, integrity and excellence in their reportage.
He reminded them that insurance and pension businesses are built on trust and urged editors to broaden public understanding of the industry by engaging more in interpretative journalism that explains insurance in simple, relatable terms.
Omosehin explained that NAICOM’s developmental agenda is anchored on reforms that strengthen regulation, deepen market penetration and enhance consumer protection. These reforms, which span digital transformation, risk-based supervision, financial inclusion and pension integration, require not only technical execution but also effective communication, making synergy with NAIPE indispensable.“Together, we can ensure that the public understands the benefits of these reforms, that operators embrace compliance with enthusiasm, and that the industry’s image is projected positively.
The partnership between NAICOM and NAIPE is therefore not a matter of convenience but of necessity,” he said. “As regulators, we rely on your editorial expertise to amplify our vision. As journalists, you rely on our openness and transparency to enrich your reportage.
This mutual dependence is the foundation of sustainable growth for the sector. ”He stressed that NAIPE’s role in disseminating accurate information is critical to the success of the insurance and pension industry and noted that leadership is both a privilege and a responsibility.
Urging the new executives to see their positions as a call to vision, courage and dedication, he advised them to build on the solid foundation laid by past leaders, adopt innovative approaches and uphold the values of professionalism and integrity that define the association.
“Your tenure should be marked by stronger collaboration with NAICOM, deeper engagement with industry stakeholders, and a renewed commitment to educating the public on the importance of insurance and pensions in national development. “Remember that your voice shapes the narrative, and the narrative shapes the future. On behalf of NAICOM, I assure you of our unwavering support.
We recognize the importance of your work and will continue to partner with you in every possible way,” he added. He expressed confidence that through sustained collaboration, ongoing reforms will not only strengthen the industry but also contribute to Nigeria’s economic resilience and social security. “As you embark on this journey, may your tenure be fruitful, impactful and memorable.
May you find fulfillment in service, and may your leadership inspire confidence and progress. Let us continue to work hand in hand, regulators and editors alike, to build an insurance and pension industry that Nigerians can trust, rely upon and be proud of,” he said.
In her goodwill message, the Chairperson of the Nigerian Insurers Association (NIA), Mrs. Ebelechukwu Nwachukwu, represented by the Director General/Chief Executive Officer of NIA, Mrs. Bola Odukale, expressed optimism about the new NAIPE leadership and said NIA looks forward to a stronger partnership with the association. “I have no doubt that under her leadership, NAIPE will attain even greater heights.
Your contributions have not only enhanced the visibility and reputation of the insurance industry but have also enriched national conversations around financial inclusion, economic resilience and sustainable development,” she stated.
Odukale affirmed NIA’s commitment to sustaining and deepening strategic collaboration with NAIPE through continuous engagement, knowledge sharing and joint initiatives that will further promote the value of insurance to individuals, businesses and the wider Nigerian economy.
“As you assume the responsibility of leading this esteemed association, I wish you and your team wisdom, strength, unity of purpose and outstanding success. May your tenure be marked by impactful leadership, professional excellence and meaningful contributions to the growth of insurance journalism and the advancement of Nigeria’s insurance industry,” she added.
In her acceptance speech, the new NAIPE Chairperson, Mrs. Ebere Nwoji, assured stakeholders that she would keep the candle burning and the light shining brighter for the next generation to see the footprints of her administration.Nwoji restated her agenda to promote unity, togetherness and comprehensive coverage of the insurance and pension sectors.
She pledged that NAIPE would continue to consistently tell the insurance and pension story, highlighting their roles in long-term savings, financial security and independence.
While promising robust advocacy for insurance and pension, she urged operators to prioritize winning public trust.“This trust can only be earned when they uphold the sacred promise of utmost good faith to the customer. This stands as an oath to the insured and contributors from the onset of the insurance contract,” she said.On the pension sector, Nwoji noted that operators still have work to do to gain public confidence, even under the Compulsory Contributory Pension Scheme, pointing out that contributors are still watching how funds are invested and how benefits are returned seamlessly at retirement.
She maintained that operators’ ability and willingness to meet expectations will determine the success and mass patronage of the Personal Pension Plan, which remains a major challenge confronting both operators and journalists covering the industry.
“I want to encourage everyone to gird up their belts and be ready to seek information on this recapitalisation to quench the thirst of the public and keep them informed. I need maximum cooperation and unity of purpose so that together we will make NAIPE stand as a beacon of light for the sectors,” she said.