Sanwo-Olu lauds NIA at 50, urges collaboration, Innovation 

deb babajide sanwo olu x
deb babajide sanwo olu x

By Henry Uche, [email protected]

The Lagos State Governor, Babajide Sanwo-OIu, has applauded the impact of the insurers in the country under the umbrella of Nigerian Insurers Association (NIA) who just celebrated 50th anniversary and  unveiled its new edifice known as Insurers’ House, in Lagos, recently. 

The governor while felicitating with NIA charged captains of the Insurance industry to do more in the areas of collaboration, publicity, sensitization and development of attractive and competitive new products that would shoot the insurance industry to a greater height to bring the sector at par with the trends in other developed economies of the world. 

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He also charged NIA to sustain the momentum of growth, creativity and innovation which would boost the trust and confidence level of the people in the insurance industry and translate into making industry witness more people taking up insurance policies not just to fulfil the requirement of the law, but a voluntary act driven by knowledge and awareness of the positive impact which insurance policies can make in their lives. 

“In  its 50 years of existence, the Nigerian Insurers Association (NIA) has lived up to its charge of being the umbrella body for Insurance brokers in the country and also ensuring uniform and high standards are  maintained within the Industry. 

“There is no gainsaying the fact that the insurance sector remains one of the critical pillars of a viable economy given the role the industry plays in providing comfort and support for the survival and growth of other sectors. 

“This could be attested to by the response received from the consortium of underwriters after the unfortunate havoc done to both public and private properties in the state during the  “#EndSARS protest, the swift response of the  consortium of underwriters in indemnifying the state government as a result of the loss suffered, speaks to the essence of taking up insurance  policies, and the progress that have been achieved in improving the process and procedure with regards to payment of claims.” He added that his administration would remain resolute and committed to its vision to make Lagos State a 21st Century economy by continuous provision of critical infrastructure, robust partnership with the private sector including the insurance industry and ensuring good governance for the benefits of the good people of Lagos State. 


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“We recently launched the Lagos Ride Taxi Scheme which presented an opportunity for insurance Industry to partner with the government by providing comprehensive insurance cover for the fleet of vehicles. This is in addition to the insurance cover provided for the 500 vehicles in the First and Last Mile Bus scheme, among several other collaborations with your industry. 

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“I commend your deployment of technology that has made it easier to buy insurance policy from the comfort of one’s home. These positive transformations you have facilitated in the industry is a testament to your commitment to its growth,” he added. 

Similarly, the chairman of (NIA), Mr. Ganiyu Musa, pledged to support the government across levels to achieve its vision of building a resilient and robust economy. 

“Let me use this opportunity to restate that the Association and indeed, the entire insurance industry will continue to support the government to achieve its vision of building a resilient and robust economy. 

“This iconic secretariat building christened “Insurers House” represents an audacious effort to reposition the insurance industry and it signposts the far-reaching positive changes in the insurance trajectory.” 

He added that the edifice is a testimony to the fact that the insurance industry has come of age and no longer the ‘poor cousin’ of the banks, saying, “Yes, we have arrived, and it is grand, gracious, and glorious,” he affirmed.