The Nigerian Council of Registered Insurance Brokers (NCRIB) is set to leverage the newly enacted Nigerian Insurance Industry Reform Act 2025 (NIIRA 2025) to expand insurance penetration and strengthen financial protection across the country.
The 23rd President of the Council, Mrs. Ekeoma Ezeibe, disclosed this during a press briefing in Lagos, where she outlined her administration’s roadmap to boost nationwide insurance awareness.
According to Ezeibe, the campaign will kick off in Abia State, which will serve as the pilot location for the national insurance penetration drive.
She explained that the initiative will be implemented through the Council’s six area committees, which will act as the primary drivers of the campaign. Abia, she noted, was deliberately chosen as the starting point due to its economic vibrancy and ongoing infrastructural renewal.
“Insurance awareness is significantly higher in the Southwest,” she observed, “but many commercial hubs in the Southeast, particularly Aba, remain underinsured.”
Describing Aba as “the commercial heartbeat of the East,” Ezeibe highlighted its legacy as a thriving industrial center that once hosted several multinational firms.
“My administration will use these committees to spread the gospel of insurance to every corner of Nigeria,” she said. “This initiative aligns with the NIIRA 2025, which expands compulsory insurance coverage and strengthens NAICOM’s enforcement powers. We intend to take full advantage of the Act to promote compliance and deepen penetration nationwide.”
Ezeibe added that launching the campaign in all 36 states and the Federal Capital Territory at once would be impractical. Instead, Abia would serve as the test case before the model is replicated nationwide.
“Aba was once home to numerous manufacturing and export businesses, especially in leather and fashion goods,” she said. “With Governor Alex Otti’s infrastructural and energy reforms, including the Geometrics Power Project and the modernisation of Ariaria Market, the environment is now ripe for insurance growth.”
Ezeibe commended Governor Otti’s private-sector-friendly policies, noting that the NCRIB would partner with the Abia State Government to promote compulsory insurance coverage and safeguard emerging investments.
“When businesses thrive, employment grows and the economy flourishes. But without insurance, we risk losing tomorrow’s opportunities,” she noted. “Partnering with Abia is a strategic step toward ensuring long-term economic sustainability.”
She reaffirmed her commitment to inclusive growth within the Council, assuring that every member would have access to emerging opportunities.
Ezeibe also pledged collaboration with underwriters and loss adjusters to enhance claims settlement efficiency and build public confidence in insurance.
“In capacity building, I intend to build upon the strong foundation laid by my predecessors,” she added. “Our focus will be on full compliance with the NIIRA 2025 and completing the Olola Olabode Ogunlana NCRIB Annex Building, which was initiated by my predecessor.”
