Abia State Governor, Alex Otti, has praised the Nigerian insurance industry for its sustained efforts to promote insurance awareness and increase coverage among Nigerians.
The Governor gave the commendation on Monday while receiving a delegation from the Nigerian insurance sector led by the President of the Nigerian Council of Registered Insurance Brokers, Mrs. Ekeoma Ezeibe, at the Government House in Umuahia.
Governor Otti described insurance as a critical tool for protecting individuals, businesses, and investments against unforeseen risks. He noted that the industry’s decision to engage directly with citizens would help build trust, improve public understanding, and encourage greater participation in insurance schemes across the country.
According to the Governor, effective regulation and policy implementation require meaningful engagement with the people they are designed to serve. He expressed confidence that such grassroots interaction would strengthen confidence in the insurance sector and support broader economic growth.
The Governor highlighted the entrepreneurial nature of Abia residents, particularly those involved in trade, manufacturing, and other micro, small, and medium-sized enterprises (MSMEs). He emphasized that insurance serves as an essential safety net that helps businesses and individuals recover from unexpected setbacks.
Welcoming the planned launch of the Insurance Penetration Initiative in Abia State, Governor Otti pledged his administration’s support and promised to encourage residents to take advantage of the opportunities offered by insurance products and services.
He noted that insurance provides peace of mind by assuring policyholders of financial support during difficult times, adding that the initiative would help strengthen financial security and resilience among citizens.
Governor Otti further reaffirmed his government’s readiness to collaborate with stakeholders in the insurance industry to promote economic sustainability, financial inclusion, and inclusive development throughout the state.
Earlier, NCRIB President Mrs. Ekeoma Ezeibe disclosed that the Council was in Abia State for the 2026 Insurance Chief Executive Officers’ Retreat and the official launch of the Insurance Penetration Initiative. She explained that Abia was selected as the pilot state due to Governor Otti’s developmental achievements and his strong understanding of economic and financial matters.
Mrs. Ezeibe commended the administration’s performance over the past three years, citing notable progress in security, road infrastructure, power supply, and commercial activities, particularly in Aba. She described Abia as a model for sustainable economic development and formally invited the Governor to participate in the retreat and launch programme.
Also speaking, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Mr. Olusegun Ayo Omosehin, praised Governor Otti’s developmental strides and described Abia as one of Nigeria’s strategic economic and industrial hubs.
Omosehin stressed the importance of insurance in ensuring business continuity, protecting consumers, promoting financial inclusion, and enhancing economic stability. He also highlighted key provisions of the Nigerian Insurance Industry Reform Act 2025, including stronger consumer protection measures and the establishment of the Insurance Policyholders Protection Fund to safeguard policyholders.
He assured the Abia State Government of NAICOM’s support for programmes aimed at increasing insurance awareness and adoption, describing the NCRIB initiative as a vital step toward building a stronger and more resilient economy.
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The meeting was attended by top government officials, including the Secretary to the State Government, Dr. Emmanuel Meribole, the Chief of Staff to the Governor, Pastor Caleb Ajagba, Senator Darlington Nwokocha, and other senior government functionaries.
