Abia State Governor Alex Otti has thrown his weight behind efforts to increase insurance awareness and participation across the state, describing insurance as a vital tool for protecting businesses, investments, and individuals from unexpected losses.
The governor made the remarks while receiving a delegation from the Nigerian insurance industry led by the President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Ekeoma Ezeibe, at the Government House in Umuahia.
Otti praised the insurance sector for taking steps to engage directly with the public, noting that stronger interaction between industry regulators and citizens would help build trust and improve understanding of insurance products.
According to the governor, many residents of Abia are actively involved in trade, manufacturing, and small-scale businesses, making insurance an important safeguard against unforeseen risks that could threaten livelihoods and investments.
He welcomed plans to launch the Insurance Penetration Initiative in the state and assured stakeholders that his administration would encourage wider participation among residents.
Otti emphasized that insurance provides peace of mind by ensuring that individuals and businesses have a safety net when faced with unexpected challenges.
He also reaffirmed his government’s commitment to working closely with industry stakeholders to promote financial security, economic growth, and sustainable development across Abia State.
Speaking during the visit, Mrs. Ekeoma Ezeibe revealed that Abia was selected as the pilot state for the initiative due to Governor Otti’s strong track record in governance and economic development.
She noted that the state has recorded significant progress in areas such as security, infrastructure, power supply, and commercial activities, particularly in Aba, making it an ideal location for the programme.
Also speaking, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Olusegun Ayo Omosehin, described Abia as an important economic hub with enormous potential for business growth.
He highlighted the role of insurance in supporting business continuity, protecting consumers, and strengthening financial inclusion.
Omosehin also referenced provisions of the Nigerian Insurance Industry Reform Act 2025, which introduced stronger consumer protection measures and established the Insurance Policyholders Protection Fund to safeguard policyholders.
The insurance industry leaders expressed confidence that the initiative would help improve public understanding of insurance and contribute to building a more resilient economy.
Source: Nigerian Council of Registered Insurance Brokers (NCRIB) / Abia State Government
