President Muhammadu Buhari has tasked insurance firms on diversification.
Gatekeepers News reports that president Muhammadu Buhari has urged insurance firms in Nigeria to take advantage of the Federal Government efforts to facilitate growth of the non-oil sector of the economy through innovation.
Buhari also commended them for the role they played in encouraging medical practitioners to tackle spread of COVID-19.
He said this while speaking at the virtual opening ceremony of the 47th African Insurance Organization (AIO) Conference and Annual General Assembly, in Abuja, FCT.
Buhari said the Insurance sector will play a vital role in the diversification of the economy by bringing “necessary stability, economic sustainability, revenue generation, job creation and financial inclusiveness.’’
Buhari said, “There is a great future for the Insurance industry in Africa. We only need to put the right mechanism in place for it to thrive. I assure you that this administration has and will continue to support Insurance growth in Nigeria and Africa at large.
“I commend the leadership of the AIO for the resilience, foresight and perseverance in ensuring that the African Insurance market strives to meet its expectations in the global market notwithstanding the prevailing challenges.
“The pandemic has indeed changed many perspectives that have forced leaders across the globe to think hard for remedies.
“I want to assure you that we in Nigeria are doing everything humanly possible to ensure coordinated approach to the pandemic and reaching out to other African leaders on possible best options to fully revive the African economy in which I strongly believe the Insurance industry has a vital role to play.
“COVID-19 is still a serious challenge in many countries across the globe. However, adequate protocols have been put in place to curb its spread and vaccination is in progress.
“We understand as a government and nation the need to frontally tackle some of the disruptions to our social, economic and health occasioned by the pandemic by putting in place sufficient measures that allow the system to function.
“I once again use this opportunity to commend the Nigerian Insurance industry for identifying with the government through the provision of life insurance set of packages for frontline medical and paramedical personnel in the course of this fight. Your support and solidarity in these times are highly appreciated.
“We are aware that the AIO’s Conference and Annual General Meeting is rotated amongst member states to provide a forum for the exchange of information and strategies on market development while promoting regional knowledge and integration.
“We received the news of the decision of the Executive Committee of the AIO granting Nigeria the hosting rights of this 47th edition of the AIO Conference with pleasure. As a country, we are confident in our ability to deliver the best conference ever in the year 2020 before the outbreak of the COVID-19 pandemic.”
