By Henry Uche, Lagos
The Minister of State, Federal Ministry of Youth Development, Mr Ayodele Olawande? has sought the support of the Commissioner for Insurance, Mr. Olorundare Sunday Thomas, to advance youth development initiatives, particularly in the areas of financial literacy, entrepreneurship, and career development. The minister sought this collaboration during a courtesy visit to NAICOM boss in Abuja.
The minister expressed desire to collaborate with NAICOM in engaging the Nigerian youth formally and informally to develop their skills, noting that the ministry had developed a digital platform (app) called Nigerian Youth Academy (NIYA) where Nigerian youth could learn vocational and digital skills.
He requested to collaborate with NAICOM in the building of insurance educational module to be uploaded on the NIYA platform as this will go a long way in training the youths and improve their level of financial literacy, help in entrepreneurship, job creation, career development and sensitise youth on the benefits of insurances.
In response, the commissioner, first, gave a brief history and overview of the Nigerian insurance industry, the administrative structure of the Commission as well as its achievements in the area of financial inclusion, transition to risk-based supervision and IFRS 17, setting up of the West African Insurance Supervisors Association and the College of Insurance Supervisors of the West African Monetary Zone.
He promised to convey the minister’s request to relevant parties within the Nigerian Insurance Industry like the Chartered Insurance Institute of Nigeria, and College of Insurance and Financial Management. It’s expected that this proposed cooperation would go a long way to engender the desired changes in the life of a significant number of youth in the country.