Abia State Governor, Dr Alex Otti, has commended the Nigerian Council of Registered Insurance Brokers (NCRIB) for its efforts to promote insurance awareness and expand insurance coverage across the country, noting that the initiative is critical to economic security and business sustainability.
Governor Otti gave the commendation on Monday when he received a delegation of the NCRIB, led by its President Mrs Ekeoma Ezeibe, at his country home in Nvosi, Isiala Ngwa South Local Government Area.
The governor noted that insurance remains an essential tool for protecting individuals, businesses and investments against unforeseen risks, stressing that increased public confidence in the industry would encourage wider participation.
According to him, regulators must maintain close engagement with stakeholders and the public in order to build trust and ensure effective service delivery.
He expressed satisfaction with the planned launch of the Insurance Penetration Initiative in Abia, noting that the programme would be particularly beneficial to the state’s growing population of traders, entrepreneurs and manufacturers who require financial protection against business disruptions and unexpected losses.
Governor Otti added that insurance provides individuals and businesses with confidence that support would be available in difficult times.
The governor reaffirmed his administration’s readiness to collaborate with stakeholders in the insurance sector and pledged continued support for policies and programmes aimed at promoting financial security, economic sustainability and inclusive growth in the state.
Earlier, President of the NCRIB, Mrs Ezeibe, disclosed that the council was in Abia for its 2026 Chief Executive Officers’ Retreat and the formal launch of the Insurance Penetration Initiative.
She explained that Abia was deliberately selected as the pilot state for the initiative owing to Governor Otti’s demonstrated commitment to development and his strong understanding of economic and financial issues.
Ezeibe also applauded the Otti led administration’s achievements in infrastructure development, security restoration, power supply improvement and economic revitalisation, particularly in Aba, describing the state as a model of sustainable economic growth.
Also speaking, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr Olusegun Ayo Omosehin lauded the governor’s development agenda and described Abia as a strategic centre in Nigeria’s industrial and economic landscape.
He underscored the importance of insurance in strengthening business continuity, promoting financial inclusion and safeguarding consumers, and drew attention to the provisions of the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
Omosehin said the legislation had enhanced consumer protection mechanisms and established the Insurance Policyholders Protection Fund to safeguard policyholders’ interests.
He assured the state government of NAICOM’s support in advancing insurance awareness and adoption, describing the NCRIB initiative as a significant step towards building a more resilient economy.
