KEY POINTS

• Governor Alex Otti backed efforts to deepen insurance penetration and raise public awareness across Abia and Nigeria.
• Abia was selected as the pilot state for the Insurance Penetration Initiative, citing Otti’s development record.
• NAICOM pledged full support, highlighting consumer protection reforms under the Nigerian Insurance Industry Reform Act 2025.

Abia State Governor Alex Otti has commended the Nigerian Council of Registered Insurance Brokers for its efforts to raise public awareness and deepen insurance penetration across Nigeria. Otti gave the commendation while receiving a delegation from the insurance industry, led by the council’s president, Ekeoma Ezeibe, at his office on Monday.

Otti praises brokers’ outreach

The governor acknowledged the critical role of insurance in protecting individuals, businesses and investments from unforeseen risks, and praised the industry’s decision to engage directly with the public. He said effective regulation requires close interaction with the people the rules are meant to serve, and expressed confidence that such engagement would strengthen trust in the sector.

Otti noted that many residents are involved in trade, manufacturing and other micro, small and medium-scale enterprises, making insurance an important safety net for businesses and individuals facing unexpected challenges. He welcomed the planned launch of the Insurance Penetration Initiative in Abia and pledged to encourage wider participation among residents.

Abia chosen as pilot state

The governor said Abia insurance provides confidence and reassurance that support will be available when the unexpected happens. He reaffirmed his administration’s readiness to collaborate with stakeholders and pledged continued support for initiatives that promote financial security, economic sustainability and inclusive growth in the state.

Ezeibe said the council was in Abia for the 2026 Insurance Chief Executive Officers’ Retreat and the formal launch of the Insurance Penetration Initiative. She explained that Abia was deliberately selected as the pilot state because of Otti’s demonstrated commitment to development and his strong grasp of economic and financial issues.

She praised the administration’s achievements over the past three years, citing improvements in peace and security, extensive road infrastructure, enhanced power supply and the revival of commercial activities, particularly in Aba. While she described Abia as a model for economic growth and formally invited the governor to the retreat.

The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Olusegun Ayo Omosehin, also commended Otti’s developmental strides and described Abia as a strategic hub in Nigeria’s industrial landscape. He emphasized the role of insurance in business continuity, financial inclusion, consumer protection and economic stability.

Omosehin highlighted key provisions of the Nigerian Insurance Industry Reform Act 2025, including enhanced consumer protection measures and the establishment of the Insurance Policyholders Protection Fund. He assured Abia residents of NAICOM’s full support for initiatives aimed at deepening insurance awareness and adoption.