The minister of finance, budget and national planning, Mrs. (Dr) Zainab Shamsuna Ahmed (pictured), says the federal government is undertaking policy rearrangements to ensure stability in the system.
Mrs. Ahmed said this is happening as government reaction to the challenges businesses including the insurance sector are experiencing and “it is doing so much through various initiatives.”
The challenge she reasoned is spread over Africa, “The world has moved many places ahead of Africa in so many fronts in insurance practice and governance.”
Coming back to the insurance home page, Ahmed who was the special guest of honour at the investiture of the 21st president, Nigerian Council of Registered Insurance Brokers in Lagos, Barr Oluwarotimi Edu, reminded the operators that the “sector is a knowledge based industry which must take issue of training of its members seriously in order to update itself with current realities across the globe.”
Her comments, “By training and retraining we can adequately equip practitioners with modern techniques and practice from the traditional ways of doing business to more robust, all inclusive and diversified channels of reaching our huge potential clients.”
She presses further for adaptive change, “I want to use this medium to encourage members of the NCRIB to be open to initiatives including the adoption of relevant technologies aimed at making the insurance market robust and all inclusive especially at a time that the Commission’s cardinal objective is centred on deepening penetration and developing the market. It is worthy to say that extreme times like this require extreme measures to reach out to the nooks and crannies of the country.”
Pointing to the ace of the business she said, “Partnership and collaboration must be sustained with other stakeholders we perceive as progress partners in consumption, supply or distribution of insurance products in the country, The market is indeed in a dare need of serious partnership, collaboration and synergy if truly the industry want to make the required impact.”