The Commissioner for Insurance, Olusegun Ayo Omosehin, has urged insurance companies and brokers to play a greater role in addressing Nigeria’s infrastructure deficit through sustainable risk management, domestic capital mobilisation and innovative insurance solutions.
Omosehin said the industry could support infrastructure development through investment pools, infrastructure bonds and tailored risk guarantees, positioning insurers as important partners in national economic growth.
He made the call at the 2026 National Insurance Brokers’ Conference and Exhibition in Abuja, themed “Insurance: Infrastructure Financing & National Development Agenda.”
He said Nigeria’s pursuit of sustainable economic renewal and a multi-trillion-dollar economy required stronger domestic capital formation and effective risk management mechanisms.
According to him, insurance professionals have an opportunity to help mobilise long-term funds and provide the risk protection needed to support infrastructure projects.
Brokers urged to build strategic partnerships
Omosehin described insurance brokers as central players in Nigeria’s insurance ecosystem, citing their roles as risk advisers, intermediaries and advocates for policyholders.
He noted that brokers account for a significant share of premium generation in the insurance market, giving them an important position from which to expand insurance penetration and strengthen the industry’s contribution to economic development.
The Commissioner urged the Nigerian Council of Registered Insurance Brokers (NCRIB) and its members to establish strategic partnerships with stakeholders in banking, energy, manufacturing and public infrastructure.
Such collaboration, he said, could help develop insurance products and financing arrangements that respond to the risks and funding needs associated with major infrastructure projects.
NAICOM pledges support for industry growth
Omosehin reaffirmed the National Insurance Commission’s commitment to creating an enabling environment for product innovation, capital growth and market expansion.
He also challenged conference participants to move beyond discussions and develop practical recommendations that would strengthen the brokerage profession and advance implementation of the Nigerian Insurance Industry Reform Act 2025 (NIIRA 2025).
“I urge us all to view this conference as an opportunity to move beyond discussions and develop practical recommendations that will strengthen the brokerage profession, advance the implementation of NIIRA 2025 and position insurance as a more effective instrument for infrastructure financing and national development,” he said.
He urged industry stakeholders to work collectively towards building an insurance sector that earns public trust, delivers value to policyholders and contributes meaningfully to Nigeria’s economic ambitions.
The conference provided a platform for brokers and other insurance stakeholders to examine how the industry could expand its role beyond traditional risk protection to support infrastructure investment and broader national development.
