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The National Insurance Commission (NAICOM) and the Nigerian Insurers Association (NIA) are advocating stronger synergy with insurance and pension editors to enhance and accelerate growth in the insurance sector.
Speaking at the investiture of the new executives of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Lagos, NAICOM solicited the collaboration of NAIPE with industry players and other stakeholders to drive reforms that will strengthen the insurance industry, enhance 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 essential to deepening insurance penetration, building public confidence and supporting national development.
Omosehin, who was represented by the Head of the Lagos Office of NAICOM, Dr Julius Odidi, urged NAIPE members to continue demonstrating commitment to professionalism, integrity and excellence in their reportage.
Reminding them that the insurance and pension sectors thrive on trust, he implored them to continue expanding public knowledge of the industry by doing more interpretative journalism to help citizens understand insurance in simple terms.
According to him, “the developmental agenda of NAICOM is anchored on reforms that strengthen regulation, deepen market penetration, and enhance consumer protection. These reforms ranging from digital transformation, risk-based supervision, financial inclusion, to pension integration require not only technical execution but also effective communication. This is where synergy with NAIPE becomes indispensable.
“Together, we can ensure that the public understands the benefits of 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.
“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.”
The commissioner affirmed that NAIPE’s role in disseminating accurate information is critical to the success of the industry.
He stressed that leadership is both a privilege and a responsibility.
As the new executives step into roles that demand vision, courage and dedication, he urged them to build on the solid foundation laid by their predecessors, be innovative in their approach 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 recognise the importance of your work and will continue to partner with you in every possible way,” he stressed.
He said that through collaboration, reforms can be driven not only to strengthen the industry but also to contribute to Nigeria’s economic resilience and social security.
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“As you embark on this journey, may your tenure be fruitful, impactful and memorable. May you find fulfilment 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 added.
Giving her charge, the Chairperson of the Nigerian Insurers Association (NIA), Mrs Ebelechukwu Nwachukwu, represented by the Director-General and Chief Executive Officer of the NIA, Mrs Bola Odukale, expressed optimism over the new leadership of NAIPE, saying the association looks forward to strengthening collaboration with NAIPE.
“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 strengthened national conversations around financial inclusion, economic resilience and sustainable development,” she emphasised.
The Director-General affirmed the NIA’s commitment to sustaining and deepening the strategic partnership through continuous engagement, knowledge-sharing and collaborative initiatives that will further promote the value of insurance to individuals, businesses and the 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, Mrs Ebere Nwoji assured stakeholders that she would keep the candle burning and make the light brighter for the next generation to see the footprints of her administration.
Nwoji reiterated her administration’s agenda to ensure unity, togetherness and effective coverage of the insurance and pension sectors.
She assured stakeholders of NAIPE’s resolve to continue telling insurance and pension stories consistently as a means of promoting long-term savings, financial security and independence.
Giving the assurance of propagating the gospel of insurance and pensions, she urged operators to ensure that they win public trust.
“This trust can only be won when they keep the hallowed 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.
“For the pension sector operators, they should realise that they are yet to win the trust of the public even in the Compulsory Contributory Pension Scheme. Indeed, the contributors are still studying their behaviours in the area of investing and seamlessly returning or paying back their hard-earned funds at retirement,” she stated.
She maintained that operators’ ability and willingness to meet expectations guarantee the viability and mass patronage of the Personal Pension Plan, which is a major challenge facing both operators and journalists covering the beat.
“I want to encourage everyone to gird up his belt and be in a position to search for 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 added.
