NCRIB’s LAC strategizes for members business growth, stability
The Lagos Area Committee of the Nigerian Council of Registered Insurance Brokers has listed growth and stability of business of its members as its pivotal focus for this year.
The Chairman, LAC, Mrs Bukola Ifemade, while speaking at the 16th Annual General Meeting (AGM) and Annual Lecture of the Committee held in Lagos, stressed that strong, healthy, stable and prosperous members would make a strong and prosperous council.
Mrs Ifemade said the theme of the programme “Management of Regulatory Issues as a Business Owner in Nigeria” was carefully chosen to address the laws enforcement as related to individual businesses.
While delivering the theme papers during the lecture, the former Group Executive Director, Energy Conglomerates, Sahara,Group, Mr. Toney Cole, noted that, proper management of regulatory issues would enhance growth of insurance business as one of the major contributors to the Gross Domestic Product.
Mr Cole who was a Guest Speaker at the event said that Africans by nature were traders within the bracket of informal economy, noting that the informal economy forms the heartbeat of the African market and remained largely unregulated, under-documented, understated and underestimated.
He said about 66 percent of unemployment in Sub-Saharan Africa is in the informal economy sector while 74 percent of employed here were women and 80 percent of youths transitioning from school-to-work are in this sector.
He stressed that need need for innovation and total transformation that would make the sector a major contributor to the economy of the continent, noting that “if the informal sector is such an inbred and pervasive part of African daily life, should we not be thinking smarter and innovatively about how to harness its potential and make it much more potent force for the good of the continent.
