Tuesday Meeting in Abia: NCRIB President Highlights Insurance as Key to Nigeria’s Economic Growth

The President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Ekeoma Ezeibe, has highlighted the essential role that insurance plays in advancing Nigeria’s sustainable economic development. Ezeibe spoke on Tuesday during a courtesy visit with Abia State Governor Alex Otti, stressing that risk management through insurance is critical for long-term progress in both public infrastructure and private enterprise.

According to Ezeibe, stronger insurance penetration can drive private sector growth, increase tax compliance, and support stability across the economy. She noted that reforms under the Nigerian Insurance Industry Reform Act 2025 have broadened mandatory coverage across the country, positioning insurance as a tool for protecting investments and promoting business continuity.

To expand access, the council plans to launch an insurance brokerage marketplace in Aba, which aims to provide micro‑insurance options for traders and small businesses. The initiative is intended to protect vulnerable enterprises and create jobs while serving as a model to extend insurance to other parts of Nigeria.

Governor Otti welcomed the council’s efforts and pledged state support for strengthening the insurance sector. He pointed out that NCRIB has helped bridge the gap between insurers and customers, improving transparency and boosting trust in insurance processes.