By LOVETH AZODO, Lagos
The Nigerian Association of Insurance and Pension Editors (NAIPE) is set to host its 2024 national conference, gathering top experts from insurance, pension, and capital markets to explore the strategic roles these sectors play in driving Nigeria toward a $1 trillion economy.
The conference, themed “Towards A $1 Trillion Economy: Roles of Insurance And Pension Sectors,” will feature a panel of prominent industry leaders who will share insights on how the insurance and pension sectors can contribute to economic growth.
Among the panelists are Mr. Tunde Mimiko, Managing Director/CEO of Sanlam Life Insurance Limited; Mr. Adeyemi Mayadenu, Executive Director, Technical of NEM Insurance Plc; Mr. Wale Okunrinboye, Chief Investment Officer at Access Pensions; Mr. Oluseye Olusoga, Managing Director/CEO of Parthian Partners Limited; and Mr. Oguche Agudah, CEO of the Pension Fund Operators Association of Nigeria (PenOp).
The event, marking the 9th edition of the NAIPE national conference, will be held on October 8, 2024, at the Oriental Hotel on the Lekki-Ajah Expressway in Victoria Island, Lagos, starting at 9 a.m.
Former Commissioner for Insurance and former Managing Director/CEO of FBS Reinsurance Limited, Mr. Fola Daniel, will serve as the conference chair, while Dr. Afolabi Olowookere, Managing Director and Chief Economist at Analysts Data Services and Resources, will deliver the theme paper, providing an in-depth analysis of the conference’s focus.
The conference is expected to serve as a platform for robust discussions on leveraging the insurance and pension sectors to unlock economic potential, attract investments, and foster sustainable development in Nigeria.
The Special Guests of Honour for the Conference will be the newly appointed Commissioner For Insurance/CEO, NAICOM, Mr. Olusegun Omosehin and the Director-General of the National Pension Commission (PenCom), Mrs Omolola Bridget Oloworaran.
The event will bring together stakeholders in the insurance and pension sectors to discuss the importance of the sectors’ contribution to the $1 Trillion Economy projected by the present administration for achievement by 2026.
It would be recalled that President Bola Ahmed Tinubu while attending the 29th Session of the Nigerian Economic Summit Group (NESG) in 2023, promised to grow the nation’s economy to $1 trillion by 2026.
Presently the main drivers of the economy are crude oil, agriculture, services and manufacturing. As the various sectors of the country’s economy increase the tempo of economic activities to meet the set target, there will be opportunities thrown up, therefore the insurance and pension sectors must be ready to take advantage of those opportunities.
While Insurance sector is expected to provide the needed support in terms of protection against risks that may likely crystallise during the period and beyond, Pension Sector on the other hand is expected to take care of the welfare of the workers by ensuring proper management of workers pension contributions and timely payment of pensions to retirees.
The Chairman of the occasion, Mr. Fola Daniel is an astute professional in the Nigerian insurance and pension sectors; while the Keynote Speaker, Dr. Afolabi Olowookere is a renowned economist.
Commenting on the theme of the conference, NAIPE Chairperson, Mrs. Nkechi Naeche-Esezobor, said the theme of the conference was carefully chosen to draw the attention of the operators of the two sectors to the realities on the ground, especially regarding what they need to do to remain relevance in the unfolding economic situation in Nigeria.
Esezobor noted that not less than 250 stakeholders from the insurance, pension, finance, organised private sector and trade Unions and Associations would attend the conference.
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