Kano State Promotes Insurance Culture To Encourage Foreign Direct Investment
The National Insurance Commission host Kano State Committee on Implementation of Compulsory Insurances in the state to a 3 days retreat in Abuja. The Committee is headed by the Secretary to the Kano State Government Alhaji Usman Alhaji.
In a bid to encourage Foreign Direct Investment (FDI), enhance its internally generating revenue as well as reap other benefits of insurance, the Kano State government is exploring and promoting insurance culture in the state.
In practical demonstration, the Kano State Government has set up a technical Committee on the implementation of the Compulsory insurances In the state headed by the Secretary to the Kano State government Alhaji Usman Alhaji.
Speaking at a three-day retreat In Abuja by the National Insurance Commission (NAICOM) for members of the Technical Committee on implementation of Third Party Liability and other Insurances in Kano State yesterday, the state Governor, Dr. Abudullahi Umar Ganduje, who was represented at the event by the Secretary to the Kano State Government, Alhaji Usman Alhaji, said entrenching insurance culture in Kano state will assure investors of the safety of their investments.
He said the 18 man technical committee is charged to work on the Internally Generating Revenue (IGR) impact on the state and follow through with “effective implementation of insurance policies, which we hope would facilitate our revenue generation drive.”
Danduje said the expectation is that the Committee would use the retreat “to explore mechanisms that will in the ultimate translate into changing the tenets of revenue generation for sustainable implementation of meaningful developmental projects and policies for the overall good of our people.”
L – R: (1) Hon. Mahmud Tofa, Special Assistant to the Kano State Governor on Intergovernmental Affairs. (2) The CFI. (3) Kano State SSG and Chairman of the Implementation Committee Alhaji Usman Alhaji and (4) Alh. Sabiu Bello, Deputy Commissioner for Insurance Technical during the three days training organised by NAICOM to members of Kano State Technical Committee on the Implementation of Compulsory insurances In Abuja recently.
He said, “In the long run, they (investors) will have to be insured as well and that will give them the safety required in case of any eventuality.
“The compulsory insurance policy adopted by Kano state government is deliberate because we know that in the long run, we stand to mutually benefit: the insurance companies; the State government and the people of Kano.”
The Kano State Government Secretary added that the compulsory insurance policy was adopted by the state government in its quest “to make Kano a better state, develop economically and move to the next level”.
He said the policy will guarantee “the protection of the people of the state and their businesses, by ensuring they are insured and in the event of any eventuality, they can get relief”.
L-R: The Commissioner For Insurance/CEO, National Insurance Commission (NAICOM); Kano State SSG and Chairman of the Implementation Committee Alhaji Usman Alhaji and Alhaji Sabiu Bello, Deputy Commissioner for Insurance, Technical, during the training in Abuja,
Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Olorundare Sunday Thomas, was expressed excitement for the State Government decision to prioritize insurance policy as part of economic development strategy of the state.
According to NAICOM boss, the National Insurance Commission, NAICOM, is excited that Kano State government is pushing a new insurance culture with the hope of attracting huge investment into the State.
Thomas, said that the steps taken by the Kano state government on insurance was a testament that insurance could indeed thrive anywhere in Nigeria.
He said that the objective of the retreat was to equip members of the committee with requisite information and knowledge to enable them maximize opportunities that would help grow and develop insurance culture amongst Kano state citizens.
Thomas stated that the Kano state insurance policy would help the state “generate more revenue and serve as social protection mechanism that would assist both government and citizens in the event of any disaster.”
While commending the Governor for acceding to the request for accommodation and granting same with speed, he also urged the state to implement the compulsory insurances with speed, just as he expressed confidence on the capacity of the committee to succeed, noting that members cut across various sectors of the economy and business community in the state.
