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The Federal Government has initiated a strategy to provide financial protection for millions of Nigerians who are currently without insurance coverage.
The initiative, which marks the first major implementation phase of the recently signed Aso Accord, brings together the nation’s top financial and insurance regulators in a collaboration to transform Nigeria’s insurance landscape.
Speaking at a roundtable meeting on Tuesday, Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hassan Hadejia, in a statement by the spokesman of the vice president, Stanley Nkwocha, said outcomes of the roundtable will be presented to the National Economic Council (NEC).
“This marks the first time insurance is being formally recognised as a critical financial service in Nigeria’s economic framework,” he stated.
Senator Hadejia explained that financial inclusion through insurance is an economic imperative, saying, “We cannot build a resilient economy while leaving millions of our citizens financially exposed.
“Financial inclusion, particularly through insurance access, serves as the crucial driver that will propel Nigeria toward sustainable economic growth,” he added.