Insurance Will Do well Under Tinubu’s Government- NAICOM

Commissioner For Insurance/CEO, NAICOM, Mr. Olorundare Sunday Thomas 

The Commissioner for insurance and Chief Executive Officer, National Insurance  Commission (NAICOM),  Mr Olorundare Sunday Thomas, has expressed optimism that insurance industry in Nigeria will do well under President Bola Ahmed Tinubu.

The Commissioner who expressed his optimism at a three-day seminar for Business journalists in Uyo, Akwa Ibom State, said the President is somebody who is interested in the growth of insurance industry.

“You know the current President, His Excellency, Bola Ahmed Tinubu, established insurance culture in Lagos State when he was a governor, and up till today except one regime that did not pay premium during his tenure all the governors in Lagos State have followed this precedence.

“So he is replicating that at the Federal level. He is somebody who is interested in insurance industry, and of course, we are going to latch on that. Over the last three years we got a lot of encouragement from the government. If you tabulated what have come from government in terms of premium payment it has been on the upward swing. This shows that a lot has changed.

“Since the new government came in, I have had course to see the Secretary to the Government of the Federation (SGF) and we are working on the guideline for the insurances of government assets and they are taking it seriously.

He affirmed that the disposition of the Federal Government to insurance is steps away from what it was and an excellent step in the right direction.

Thomas noted that the government is firm on its new stand on insurance and is already working with the Commission on a strategic guideline that will serve as a blueprint for government new front on insurance purchase that would be religiously followed by government Agencies and Departments.