Why States in Nigeria Should Establish Insurance Commissions - Ekerete Ola-Gam Ikon
This edition of the "Economy and Politics" show anchored by Ottoabasi Abasiekong features Mr. Ekerete Ola Gam-Ikon an insurance expert and management consultant, who provided insight on "Repositioning Nigeria's Insurance Industry for Global Competitiveness".
He made a case for the 36 states across the country to establish Insurance Commissions, that will help deepen the industry, increase adoption and boost the penetration & contribution level to the economy. The expert decried the fact that Insurance is still not recognized as a tool for economic development in Nigeria.
According to him Nigeria's Insurance Capital base is the highest in Africa but remains challenged with a low penetration. He called on the State Legislature to take up the role of providing laws that back up Insurance Commissions like there are ongoing plans for the Pension industry.