Insurance industry raises hope for President Tinubu to replicate insurance at federal level

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By Favour Nnabugwu 
Insurance industry is hopeful that President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu will replicate insurance at the federal level just as he did in Lagos.
The Commissioner for insurance and Chief Executive Officer, National Insurance  Commission (NAICOM),  Mr Olorundare Sunday Thomas, was optimistic that insurance industry in Nigeria would perform much better under his administration.
Thomas at a two-day seminar for financial journalists in Uyo, Akwa Ibom State, said the President is somebody who is interested in the growth of insurance industry.
So he is replicating that at the Federal level. He is somebody who is interested in insurance industry, and of course, we are going to latch on that. Over the last three years we got a lot of encouragement from the government. If you tabulated what have come from government in terms of premium payment it has been on the upward swing. This shows that a lot has changed.
“You know the current President, His Excellency, Bola Ahmed Tinubu, established insurance culture in Lagos State when he was a governor, and up till today except one regime that did not pay premium during his tenure all the governors in Lagos State have followed this precedence.
“Since the new government came in, I have had course to see the Secretary to the Government of the Federation (SGF) and we are working on the guideline for the insurances of government assets and they are taking it seriously.
He affirmed that the disposition of the Federal Government to insurance is steps away from what it was and an excellent step in the right direction.
Thomas noted that the government is firm on its new stand on insurance and is already working with the Commission on a strategic guideline that will serve as a blueprint for government new front on insurance purchase that would be religiously followed by government Agencies and Departments.

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