Insurance Sector Receives Boost As NAICOM, Youth Development Ministry Sign MoU To Train Million Youths

The Insurance sector is set boosting as the National Insurance Commission (NAICOM) and the Ministry of Youth Development
have signed a Memorandum of Understanding to train one million youths in conjunction with the Chartered Insurance Institute of Nigeria (CIIN).

The training targeted at increasing awareness, knowledge,  skills of insurance practices and the sector as a whole, will include expanding career opportunities in insurance sector.

The programme tagged “One Million Youths in Insurance” is in line with the project of President Bola Ahmed Tinubu to create more jobs and empower the youths, according to a statement by NAICOM management.

“The program is aimed to sensitize Nigerian Youths with knowledge and best practices to be able to participate in Insurance, boost youth entrepreneurship by offering financial protection and peace of mind, create employment across the 774 Local Government Areas by providing another channel of opportunities for our youths, promote insurance awareness on social media and other platforms, boost the insurance industry in Nigeria with impact across other sectors and accelerating Nigeria’s Financial Inclusion mandate,  the statement disclosed.

The Commissioner for Insurance (CFI), Mr. Olusegun Ayo Omosehin, thanked the Minister of State for Youths, Comrade Ayodele Olawande for his commitment towards the project and expressed his appreciation to all parties involved in the project believing that the project will be a clear win for the youths of the Nation.

Earlier, the Hon. Minister  welcomed the Commissioner for Insurance and his team and expressed his delight for the signing of the MoU, making reference on signing a similar MOU with the Nigerian Data Protection (NDPC) to train Nigerian Youths in data protection and privacy.

He further noted that the future of Nigeria rests on the shoulder of the youths who make up over 60% of the population.

He said that Insurance which is critical to the economy of any growing Nation like Nigeria has been underutilized, adding that through this partnership with NAICOM, Nigerian youths will be sensitized to know the importance of insurance, foster entrepreneurship, and create employment opportunities across all 774 local government areas of the country.

The meeting came to a close with the official signing of the MOU by the Hon. Minister of State for Youth Development, the Commissioner for Insurance and the Chartered Insurance Institute of Nigeria.

From left: Dr. Usman Jankara (Dep. Commissioner for Insurance, Technical), Mr. Olusegun Ayo Omosehin (CFI),   Hon. Ayodele Olawale (Minister of State for Youths), Mr. Ekerete Ola Gam-Ikon (Dep. Commissioner for Insurance, Finance and Admin) and Mr. Amu Ogbeide (Founder and CEO Sapphital Academy).