Insurers Task Buhari On Economic Stability, Security

• Law Union & Rock Insurance MD, Mr. Ademayowa Adeduro and FBN General Insurance MD Mr. Bode Opadokun

Insurance underwriters in Nigeria have called on President Muhamadu Buhari to see his reelection as an opportunity to stabilize the nation’s economy urging him to intensify effort on his economic diversification policies.

The Buhari’s-led Federal Government has equally been charged to ensure the security of life and property of the people.

The Managing Director/Chief Executive Officers of Law Union & Rock Insurance Plc and FBN General Insurance, Messrs. Ademayowa Adeduro and Bode Opadokun, made the call while speaking in a separate interview with The Revealerng.com  in Lagos.

Adeduro, while commending Buhari on his resolve to fight against corruption and insecurity, also urged him to pay urgent attention to the nation’s economy.

He noted that the rate of unemployment is growing by the day and called on Buhari to address the issue urgently. “If unemployment is not tackled in this country, the issue of insecurity will continue unabated and it will soon get to the stage where people will no longer sleep with their two eyes closed. Our youths are roaming the street without job.”

Adeduro said a stable economy and guaranteed security for citizens’ life and properties will engender economic growth and the insurance industry will be better for it.

He said for the nation to enjoy peace and security and for the people to live in safety devoid of armed robbery, kidnapping, ritual killing, and hired assassins, government must ensure that the citizens are economically empowered.

Law Union & Rock Insurance MD expressed optimism that apart from ensuring economic stability and security, the recent increase in workers’ salary would enhance the spending power of an average Nigerian.

This, he said, will impact positively on the industry. “Nigerians who hitherto were unable to renew their insurance policies, with money in their hands, they will be able to do so.”

He said government investment in transportation, power, agriculture and other sectors especially infrastructure would increase Federal Government insurance premium payout for insurance sector thereby enhancing the bottom-line of the industry.

Adeduro while calling on the President to ensure that the composition of his new cabinet is made up of people with transparent character, integrity and selflessness, urged him to set the necessary mechanism in motion for effective and all inclusive government that would meet the yearning of all Nigerians.

Mr. Opadokun, expressed belief that the re-election of President Buhari would stabilize the policy ambience while impacting on the insurance industry in particular and the nation’s economy generally.

“Since the President has been re-elected, the policy ambience is expected to be stable, and ultimately, exert positive impacts on the economy and the insurance Industry,” he said.