Insurer says community project reflects its social responsibility commitment, reveals N37bn paid in claims in 2026
NEM Insurance Plc has renovated four buildings at Ilupeju Primary School in Lagos and donated notebooks to pupils as part of its efforts to support education and contribute to community development.
The renovated facilities were unveiled on Thursday, with the company’s Group Chairman, Tope Smart, saying the project was driven by the need to improve the school’s learning environment and demonstrate the insurer’s commitment to giving back to society.
Smart explained that the company first assessed the condition of the school buildings before engaging the school board and securing the necessary approvals to carry out the renovation.
He expressed hope that the improved facilities would provide pupils with a more conducive environment for learning and encourage more parents to enrol their children in the school.
According to him, the initiative reflects NEM Insurance’s values of integrity, discipline, clarity and excellence, which the company seeks to promote through its business activities and community interventions.
Insurer highlights role of insurance
Smart described NEM Insurance as one of Nigeria’s oldest insurance companies and a major player in the non-life insurance market, noting that the company was also expanding its operations beyond Nigeria.
He said the organisation’s responsibilities extended beyond commercial activities to include initiatives that improve people’s lives and contribute to societal development.
Explaining the importance of insurance, Smart said it provides financial protection by helping policyholders recover from unexpected losses and return, as far as possible, to their financial position before the loss occurred.
“Once you do your insurance, you can go and sleep,” he said, encouraging Nigerians to embrace insurance as a means of securing their assets and obtaining greater peace of mind.
He also urged the pupils to consider careers in the insurance industry, describing the profession as an opportunity to make meaningful contributions to society.
Smart disclosed that NEM Insurance had paid more than N37 billion in claims in 2026, explaining that the payments were intended to compensate policyholders for covered losses.
Education authority commends intervention
The Education Secretary of the Mushin Local Government Education Authority, Aremo Olokodana, commended NEM Insurance for renovating the school, describing the intervention as an example of corporate support for host communities.
Olokodana observed that while businesses benefit from the communities in which they operate, not all make significant contributions towards addressing local needs.
He said the insurer’s investment in the school was commendable and expressed the education authority’s willingness to strengthen its relationship with the company.
He also urged NEM Insurance to consider additional areas of collaboration and continue supporting public schools and other community development initiatives.
The Head Teacher of Ilupeju Primary School, Ajibade Victoria, also expressed appreciation to the company on behalf of the teachers, pupils, parents and the wider school community.
The renovation and donation form part of the company’s efforts to support educational development while raising awareness of the role insurance can play in protecting individuals and businesses against financial risks.
