NAICOM, NIA Back NAIPE, Seek Stronger Collaboration on Insurance Growth

By LOVETH-AZODO CHIJIOKE, Lagos

The National Insurance Commission (NAICOM) has charged the newly inaugurated leadership of the Nigerian Association of Insurance and Pension Editors (NAIPE) to play a more strategic role in advancing insurance reforms, deepening public understanding of the industry and promoting national economic development through responsible journalism.

The Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Olusegun Omosehin, said sustained collaboration between regulators, the media and industry operators remains critical to expanding insurance penetration, strengthening consumer confidence and supporting ongoing reforms in the sector.

Speaking at the investiture of the new NAIPE executive committee in Lagos, Omosehin, who was represented by the Head of NAICOM’s Lagos Office, Dr. Julius Odidi, urged insurance journalists to uphold professionalism, integrity and excellence in their reportage while simplifying insurance concepts to make them more accessible to Nigerians.

He said the Commission’s reform agenda, which includes digital transformation, risk-based supervision, financial inclusion and pension integration, requires effective communication to ensure public understanding and industry-wide acceptance.

According to him, NAIPE occupies a strategic position in shaping public perception of the insurance industry through accurate and interpretative reporting.

“As regulators, we rely on your editorial expertise to amplify our vision. As journalists, you rely on our openness and transparency to enrich your reportage. This mutual dependence is the foundation of sustainable growth for the sector,” he said.

Omosehin further urged the new executive committee to build on the achievements of previous administrations by strengthening engagement with regulators and industry stakeholders while sustaining efforts to educate the public on the importance of insurance and pensions.

Also speaking, Chairperson of the Nigerian Insurers Association (NIA), Mrs. Ebelechukwu Nwachukwu, represented by the association’s Director-General, Mrs. Bola Odukale, expressed confidence in the new leadership, saying the association looked forward to strengthening its partnership with NAIPE.

She commended the association’s contributions to increasing the visibility of the insurance industry and promoting conversations around financial inclusion, economic resilience and sustainable development.

Odukale reaffirmed the NIA’s commitment to deepening collaboration with NAIPE through continuous engagement, knowledge sharing and joint initiatives aimed at promoting insurance awareness and expanding the industry’s contribution to the Nigerian economy.

In her acceptance speech, the newly inaugurated NAIPE Chairperson, Mrs. Ebere Nwoji, pledged to promote unity within the association while ensuring consistent and impactful coverage of the insurance and pension sectors.

She said her administration would continue to project insurance and pensions as essential instruments for long-term savings, financial security and economic independence, while calling on operators to strengthen public confidence by fulfilling their obligations to policyholders and pension contributors.

Nwoji also urged members of the association to intensify coverage of the ongoing insurance recapitalisation exercise and other key developments in the sector to keep the public adequately informed.