NAICOM Leverages OKR To Boost NIIRA Gains, Intensifies Push For Performance Culture

L-R: Mr. Salami Rasaaq, Director HR & Admin (NAICOM), Mr. Ekerete Ola Gam-Ikon, Dep. Commissioner for Insurance, Finance & Admin, Elder. Aniefiok Isaac Nkom, Executive Chairman, Ikot Ekpene LGA, Dr. Usman Jankara Jimada, Deputy Commissioner for Insurance, Technical and Mrs. Oluwatoyin Charles, Director Supervision (NAICOM) at the Performance Management Workshop holding at Four Point by Sheraton, Ikot Ekpene – Akwa Ibom State

By LOVETH AZODO,  Lagos

The National Insurance Commission (NAICOM) has taken a significant step forward in strengthening its reform agenda with the adoption of the globally recognised OKR (Objectives and Key Results) performance management model, a move expected to maximise the gains of the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

Speaking at the Performance Management Workshop held in Ikot-Ekpene, Akwa Ibom State, Deputy Commissioner for Insurance (Technical), Dr. Usman Jankara, said the workshop signalled NAICOM’s renewed commitment to building a culture of accountability, transparency, and measurable impact across the Commission.

Representing the Commissioner for Insurance, he emphasised that performance management remained the backbone of any successful institution, noting that NAICOM must align its internal structure and workforce with its overarching vision of developing a safe, stable, and globally competitive insurance industry.

Jankara outlined the Commission’s five strategic goals, ranging from policyholder protection to expanding insurance penetration nationwide.

He stressed that these ambitions would remain unattainable without a strong performance measurement system that ensures every department and staff member is pulling in the same direction. The adoption of the OKR model, he explained, provides a practical structure for translating lofty objectives into clear, quantifiable results.

He described OKR as a simple but powerful system that links what NAICOM intends to achieve with how it will measure success.

According to him, the framework will promote alignment across all directorates, strengthen transparency, and shift the Commission’s operational mindset from activity tracking to outcome delivery. He highlighted that OKR is particularly suited for mission-driven regulators like NAICOM because it prioritises impact over profit.

With the rollout of the new performance culture, every staff member will now operate with clearly defined expectations that are measurable and aligned with NAICOM’s broader goals.

Jankara encouraged participants to complement OKRs with SMART principles to ensure clarity and global best practice in scoring and evaluation. He emphasised that the initiative is not a punitive measure but a tool for clarity, accountability, and continuous improvement.

Speaking on the expected gains from the workshop, he said the Commission anticipates enhanced regulatory efficiency, improved risk-based supervision, expanded digital transformation efforts, and stronger consumer confidence supported by more transparent and timely claims processes. He also noted that the reforms are expected to deepen insurance penetration and contribute meaningfully to Nigeria’s economic development.

He highlighted the milestone achievement of NIIRA 2025, describing it as a defining moment for the industry. He reiterated Management’s determination to ensure the reforms deliver on their promise to reposition the insurance sector as a critical pillar in the nation’s financial system.

He concluded with a strong call to action, stressing that strategy alone cannot transform the Commission without a committed workforce. “Culture eats strategy for breakfast,” he reminded the participants, urging them to uphold integrity, dedication, and excellence as NAICOM pursues a new standard of regulatory performance in Africa.